Handbook to Digital Currencies for Online Casinos

Cryptocurrency is a digital money that uses encryption to ensure safety. The primary characteristic of cryptocurrencies is their decentralized nature, which differentiates them from traditional government-issued money regulated by central banks. Cryptocurrencies are based on blockchain—a distributed and decentralized database of all transactions, available to network participants.

The importance of cryptocurrencies for gamblers is significant for several reasons: transaction anonymity, fast processing, and independence from geopolitical and macroeconomic changes. Using cryptocurrencies in online casinos allows players to avoid difficulties with banking and government restrictions, as well as enhances the degree of confidentiality for financial operations.

Advantages of Cryptocurrencies for Online Casino Players

Using cryptocurrencies in online casinos offers players with a variety of benefits that make them an attractive choice for online gambling. This is an crucial part that warrants attention. Namely:

• Anonymity. One of the major advantages of cryptocurrencies is anonymous transactions. Players can top up their accounts and withdraw winnings without sharing personal data. This is especially crucial for countries with strict legal restrictions on gambling.
• Speed. Cryptocurrency transactions are completed much faster than traditional bank transfers. Thus, players can start playing instantly (after completing a deposit) and also receive their winnings quickly.
• Fees. Here, everything is handled without intermediaries such as banks or payment systems. Therefore, the fees for cryptocurrency transactions are lower than those for using conventional payment methods.
• Reliability. Smart contracts stand guard over security and reliability. They self-execute the terms of transactions, completely removing the risk of fraud or technical (banking) errors.
• Transparency. Blockchain technology ensures full transparency of all transactions. That is, each transfer is public and verifiable, reducing the risk of fraud since the transfer is easily traceable.
• Investment. Cryptocurrencies not only serve as a means of payment but can also act as an investment asset. Their value can greatly increase, so players often earn passive income without being experienced investors.
• Lack of Control. Cryptocurrencies are not linked to any country or central bank. Vulnerability to political and economic changes remains aside.

Top 5 Cryptocurrencies for Online Casinos

There are thousands of cryptocurrencies, but some are particularly popular among online casinos. Some of them distinguish themselves for their outstanding reliability, ease of use, and widespread adoption. Here are the five main cryptocurrencies that almost every online casino supports:

• Bitcoin (BTC). Bitcoin is considered the ""gold standard"" among cryptocurrencies. It is the most well-known and widely used cryptocurrency in the world. BTC is valued for its high level of security, broad recognition, and the ability to conduct large transactions, which is especially valued in the world of gambling.
• Ethereum (ETH). Ethereum holds a special place in the crypto world thanks to the power of its smart contracts. With ETH, you can not only send and receive money but also automate many processes and services within online casinos.
• Tether (USDT). This is a ""stable"" currency pegged to the US dollar rate. This ensures almost no volatility (currency exchange rate changes). This point makes USDT the preferred choice for players who prefer calm waters over the stormy sea of currency quotes.
• Binance Coin (BNB). The brainchild of the Binance cryptocurrency exchange. Initially, their internal token became widely used worldwide. BNB quickly became a means of payment in various services, including online casinos.
• Toncoin (TON). Originally an internal token of the Telegram messenger. The cryptocurrency reached rapid popularity due to high transaction speeds and low transfer fees. Now TON is a standard for an efficient and reliable system for transactions in online casinos.

Where to Store Cryptocurrency

Before purchasing cryptocurrency, it's essential to choose where to secure it—crypto wallets. The choice of a crypto wallet depends on many elements, including the supported cryptocurrencies, the security level, the ease of use of the user interface, and functional features. Let's look at various wallets for your crypto assets and their characteristics.

MetaMask

This crypto wallet is suitable for keeping BTC, ETH, BNB, and numerous other cryptocurrencies. It is popular as a web browser extension (Chrome, Firefox, Yandex Browser, etc.) and is also accessible as a mobile app for iOS and Android. MetaMask has multiple features that cannot be overlooked:

• Installation. The versatile wallet is readily installed as a browser extension. The process of installation is straightforward and does not require special technical knowledge. After installation, the user can create a new wallet or import an existing one using a secret phrase (seed phrase).
• Features. Involves receiving, keeping, and sending cryptocurrencies. You can manage few accounts. It seamlessly integrates with DApps on the Ethereum blockchain and other compatible networks. This makes MetaMask particularly popular among users who actively participate in the DeFi and NFT ecosystems.
• Security. Elevated level of security, as the user exclusively controls the keys. These are private keys that are kept on the device and are never transmitted outside.

TronLink

The official storage for the TRON (TRX) cryptocurrency. It is also well-suited for handling USDT and USDC on the TRC-20 network. TronLink is available as a browser extension, a mobile app for Android and iOS, and in a web version format. In general, it is ideal for all and every TRON blockchain enthusiast. It has various features:

• Installation. For the browser, simply visit the Chrome Web Store, search for TronLink, and add it to your browser. Smartphone users get the app from the App Store or Google Play. Just go through the usual procedure for installing apps on your devices.
• Features. With TronLink, you can not only transact with TRX and TRC-20 tokens, like USDT, but also use dApps on the TRON blockchain. There is a feature to swap one cryptocurrency for another within the wallet itself. You can generate and switch between multiple wallets.
• Security. The security of funds is provided by multiple levels of security and encryption. User keys are kept on the device and are not transmitted to external servers. It is enough to set up a complex password and keep it secret.

Crypto Wallet in Telegram (@wallet)

Online casinos actively use the advantages of the TON ecosystem, one of the key ones being the crypto wallet built right into the Telegram messenger. This is potentially the most handy tool for online casino players who use Telegram.

• Installation. To start using the cryptocurrency wallet in Telegram, you need to initiate the @wallet bot in the messenger. This can be achieved by searching for the bot through the lookup in the app and initiating a dialogue with it. Following straightforward and direct prompts, the wallet can be set up in 2 minutes right in your messenger.
• Features. Users store, send, and receive TON, BTC, and USDT cryptocurrencies directly within the Telegram interface. This considerably streamlines the process of using cryptocurrency, as it does not require adding extra apps or programs. Transactions here are done in a few clicks, which is especially convenient when making a deposit in an online casino from a smartphone.
• Security. The cryptocurrency wallet is integrated into the messenger, providing a sufficient level of security through the use of modern encryption methods inherent to the Telegram platform. Without your knowledge, funds will not leave your account, but the main thing is to safeguard your Telegram account itself.

How to Purchase Cryptocurrency

After choosing the appropriate crypto wallet, the next step is to load it with cryptocurrency. For this, there are dedicated platforms - crypto exchanges and crypto exchangers. Each option offers unique services, conditions, and degrees of security. Let's start with cryptocurrency exchanges.

Cryptocurrency Exchanges

Crypto exchanges are online platforms where you can purchase, sell, and swap cryptocurrencies using various fiat currencies or alternative digital assets. The most well-known crypto exchanges offer a vast selection of cryptocurrencies and have solid security measures. Here are some examples of reputable crypto exchanges:

• Binance. The biggest crypto exchange in the world with a broad range of cryptocurrencies and trading instruments. This is where the largest volume of crypto trading takes place. Binance features low fees, extensive liquidity, and multiple trading options, including futures and margin trading.
• Coinbase. Captures the interest of users with its simple and straightforward interface, making it an ideal option for beginners. It offers immediate buying of cryptocurrencies with fiat money and supports a wide array of digital assets. It is distinguished by rigorous compliance to regulatory standards, adding confidence in the reliability of operations.
• Bybit. Specializes in cryptocurrency derivatives and margin trading. The exchange offers attractive rates, speedy transactions, and advanced trading tools. Bybit is suitable for more experienced users who wish to leverage various trading strategies.

Identity Verification and Geographic Restrictions

To work with crypto exchanges, you need to undergo the identity verification process (KYC), which helps exchanges prevent fraud and money laundering. This process includes providing a photo of an ID or other personal information.

It is also important to keep in mind that some crypto exchanges do not provide their services to citizens of certain countries due to regulatory restrictions. Always check the availability of the operation in your region and clarify the terms of service on the site or through technical support.

How to Purchase Cryptocurrency on a Crypto Exchange

The process of purchasing cryptocurrency on a crypto exchange and subsequently sending it into an online casino consists of several steps.

1. Sign Up. To begin, you need to pick a crypto exchange and create an account there. The registration process usually involves entering basic information such as name, email, and password.
2. Finish identity verification. To comply with regulatory requirements, most crypto exchanges require identity verification. This may involve sending a photo of a passport or another form of ID, and sometimes verifying the address of residence. The process usually requires a few days.
3. Deposit funds. After verification, you can deposit fiat money (EUR, USD, RUB) via bank transfer or using other payment methods such as electronic wallets.
4. Buy cryptocurrency. Once the funds reach your account, you can acquire cryptocurrency. Choose the desired cryptocurrency and make a purchase order at the current market rate or set your price with a limit order.
5. Transfer cryptocurrency to the online casino. To start playing in a crypto casino, you need to transfer some of the bought cryptocurrency to the casino's account. This is accomplished through the withdrawal function on the exchange, specifying the casino wallet address.
6. Confirm the transaction and start playing. Ensure the information you input at each step. Once the cryptocurrency is deposited into your casino account, you can start playing. Be sure to check any casino bonuses for the deposited amount.

Crypto Exchangers

For those looking for a simpler way to acquire cryptocurrencies, crypto exchangers are a convenient alternative. They commonly do not require verification and permit fast exchange of fiat money for cryptocurrency. This is a handy tool for fast transactions or exchanges of digital assets.

The biggest advantages of crypto exchangers include the absence of registration and verification, which reduces the entry barrier for new users and expedites the transaction process. Also, they generally have no strict geographic restrictions, making exchangers available to users globally.

To pick a reliable cryptocurrency exchange service, pay attention to the next aspects:

• Length of operation. Serves as an sign of the reliability of the exchanger. Long-term presence in the market often indicates safety and reliability of the service, as exchangers that have been operating for a long time usually accumulate experience in resolving various operational problems.
• Number of users and feedbacks. A vital aspect when choosing an exchanger. A large number of positive reviews can indicate a good reputation of the service, a convenient interface, and the quality of technical support.
• Commissions. Can differ greatly depending on the exchanger, the type of currency, and the transaction amount. Increased fees can greatly increase the cost of the operation, so choose platforms with competitive rates.
• Payment processing. Can be done either automated or manually. Automatic processing systems usually provide speedier transactions, while manual management may take more time but provides an extra level of control over the security of operations.

How to Buy Cryptocurrency at an Exchanger

The process of purchasing cryptocurrency through crypto exchangers and depositing into a crypto casino is straightforward and available. Below are the steps you need to follow.

1. Select a Crypto Exchanger. Use the BestChange exchange monitoring service to locate a reliable exchanger with the best rates and feedbacks. The platform shows exchanges with current rates and exchange conditions.
2. Choose a Cryptocurrency. Pick the cryptocurrency you want to buy. This could be Bitcoin, Ethereum, USDT, or various options available for depositing into an online casino.
3. Set the Currency and Payment Amount. Choose the currency you have (USD, EUR, RUB) and specify the amount you want to purchase cryptocurrency for.
4. Provide an Account for Receiving Cryptocurrency. Provide the address of your crypto wallet, to which the acquired cryptocurrency will be sent. Also provide payment details, such as a bank card number or payment system data.
5. Transfer the Funds. Send the funds of the indicated amount to the wallet provided by the crypto exchange. After this, the cryptocurrency will be sent to your specified crypto wallet.
6. Transfer Crypto into the Online Casino. Once the cryptocurrency reaches your crypto wallet, transfer the necessary amount to the account at the online casino. You can get the deposit details in the ""Deposit"" page on the casino website.
7. Start Playing! After the funds are transferred to your casino account, you are prepared to start playing. Don't forget to look for possible deposit bonuses that can increase your chances of winning.

How to Withdraw Winnings in Cryptocurrency

Cashing-out winnings in cryptocurrency from an online casino to your crypto wallet is a simple process, akin to making a deposit but in reverse. Let's see what steps you need to take:

1. Go to the ""Withdraw"" Page. In your profile on the casino website, find the ""Withdraw"" tab.
2. Set the Amount. Enter the available amount you want to withdraw from your gaming balance.
3. Choose a Cryptocurrency. Select the type of cryptocurrency in which you wish to receive your winnings. Usually, it is the same cryptocurrency in which the deposit was made. If there are no issues, move to the next step.
4. Enter Your Crypto Wallet Address. At this stage, you need to specify the address of your crypto wallet, to which the funds will be sent. Make sure that the address is correct to avoid errors in the transfer. You can easily get the address in the main window of your wallet.
5. Confirm the Transfer. The withdrawal request must be verified by you, depending on the protection set on your account. This might be done through two-factor authentication or e-mail.
6. Receive Your Winnings. After verifying the operation, the money will be sent to your crypto wallet. Processing time may change depending on the blockchain network load.

Conclusion

Now you are acquainted with the basics of using cryptocurrency: from purchasing and storing to placing in an online casino and withdrawing winnings. The first time may bring some confusion and trepidation, but over time, the process will become almost automatic for you.