Handbook to Digital Currencies for Online Casinos

Cryptocurrency is a electronic currency that uses encryption to ensure security. The main characteristic of cryptocurrencies is their decentralized nature, which differentiates them from traditional government-issued money controlled by central banks. Cryptocurrencies are based on blockchain—a distributed and decentralized database of all transactions, available to users in the network.

The importance of cryptocurrencies for gamblers is high for several reasons: transaction anonymity, fast processing, and independence from geopolitical and macroeconomic changes. Using cryptocurrencies in online casinos enables players to bypass difficulties with banking and government restrictions, as well as increases the degree of privacy for financial operations.

Benefits of Cryptocurrencies for Online Casino Players

Using cryptocurrencies in online casinos provides players with a range of advantages that make them an attractive option for online gambling. This is an important part that deserves attention. Namely:

• Anonymity. One of the major advantages of cryptocurrencies is anonymous transactions. Players can fund their accounts and cash out winnings without sharing personal data. This is especially important for countries with strict legislative restrictions on gambling.
• Speed. Cryptocurrency transactions are processed much faster than conventional bank transfers. Thus, players can begin gaming instantly (after completing a deposit) and also receive their winnings quickly.
• Fees. Here, everything is managed without intermediaries such as banks or payment systems. Therefore, the fees for cryptocurrency transactions are cheaper than those for using traditional payment methods.
• Reliability. Smart contracts ensure security and reliability. They self-execute the terms of transactions, entirely removing the possibility of fraud or technical (banking) errors.
• Transparency. Blockchain technology ensures complete transparency of all transactions. That is, each transfer is public and verifiable, minimizing the risk of fraud since the transfer is easily traceable.
• Investment. Cryptocurrencies not only serve as a means of payment but can also serve 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 favored among online casinos. Some of them stand out for their outstanding reliability, ease of use, and widespread acceptance. Here are the five main cryptocurrencies that almost every online casino supports:

• Bitcoin (BTC). Bitcoin is regarded as 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 appreciated in the world of gambling.
• Ethereum (ETH). Ethereum holds a special place in the crypto world thanks to the capabilities of its smart contracts. With ETH, you can not only transfer 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 provides almost zero volatility (currency exchange rate changes). This point makes USDT the favored choice for players who value calm waters over the stormy sea of currency quotes.
• Binance Coin (BNB). The creation of the Binance cryptocurrency exchange. Initially, their internal token became popular worldwide. BNB quickly became a means of payment in many projects, including online casinos.
• Toncoin (TON). Initially an internal token of the Telegram messenger. The cryptocurrency reached rapid popularity due to high transaction speeds and small transfer fees. Now TON is synonymous with an efficient and reliable system for transactions in online casinos.

Where to Keep Cryptocurrency

Before purchasing cryptocurrency, it's essential to decide on where to secure it—cryptocurrency wallets. The choice of a cryptocurrency wallet depends on many aspects, including the variety of supported digital currencies, the level of security, the ease of use of the user interface, and features. Let's look at various wallets for your crypto assets and their attributes.

MetaMask

This crypto wallet is suitable for storing BTC, ETH, BNB, and several other cryptocurrencies. It is favored as a web browser extension (Chrome, Firefox, Yandex Browser, etc.) and is also accessible as a mobile app for iOS and Android. MetaMask has various features that are noteworthy:

• Installation. The multi-currency wallet is readily installed as a browser extension. The process of installation is straightforward and does not require specific technical knowledge. After installation, the user can create a new wallet or restore an existing one using a secret phrase (seed phrase).
• Features. Includes receiving, storing, and sending cryptocurrencies. You can manage multiple accounts. It seamlessly integrates with DApps on the Ethereum blockchain and other similar networks. This makes MetaMask particularly popular among users who engage in the DeFi and NFT ecosystems.
• Security. Elevated level of security, as the user exclusively controls the keys. These are private keys that are stored locally and are not transmitted externally.

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 appropriate for each and every TRON blockchain supporter. It has several features:

• Installation. For the browser, simply visit the Chrome Web Store, find TronLink, and install it to your browser. Smartphone owners get the app from the App Store or Google Play. Just adhere to the standard procedure for setting up apps on your devices.
• Features. With TronLink, you can not only send and receive TRX and TRC-20 tokens, like USDT, but also engage with decentralized applications on the TRON blockchain. There is a feature to trade one cryptocurrency for another within the wallet itself. You can generate and switch between multiple wallets.
• Security. The security of funds is guaranteed by several layers of security and encryption. User keys are kept on the device and are not transmitted to external servers. It is enough to establish 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 main 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 activate the @wallet bot in the messenger. This can be accomplished by searching for the bot through the search in the app and initiating a dialogue with it. Adhering to simple and direct prompts, the wallet can be set up in 2 minutes right in your messenger.
• Features. Users store, transmit, and get TON, BTC, and USDT cryptocurrencies directly within the Telegram interface. This greatly simplifies the procedure of using cryptocurrency, as it does not require adding more apps or programs. Transactions here are done in a few clicks, which is particularly convenient when making a deposit in an online casino from a smartphone.
• Security. The cryptocurrency wallet is intertwined into the messenger, offering a adequate level of security through the use of modern encryption methods built-in 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 picking the suitable crypto wallet, the next step is to load it with cryptocurrency. For this, there are specific platforms - crypto exchanges and crypto exchangers. Each option offers particular services, conditions, and levels of security. Let's start with cryptocurrency exchanges.

Cryptocurrency Exchanges

Crypto exchanges are online platforms where you can acquire, sell, and exchange cryptocurrencies using various fiat currencies or other cryptocurrencies. The most reputable crypto exchanges offer a vast selection of cryptocurrencies and have solid security measures. Here are some examples of well-regarded crypto exchanges:

• Binance. The biggest crypto exchange in the world with a wide range of cryptocurrencies and trading pairs. This is where the largest volume of crypto trading occurs. Binance features low fees, extensive liquidity, and numerous trading options, including futures and margin trading.
• Coinbase. Attracts users with its simple and straightforward interface, making it an excellent option for beginners. It offers direct purchasing of cryptocurrencies with fiat money and supports a vast selection of digital assets. It is distinguished by strict adherence to regulatory standards, adding confidence in the reliability of operations.
• Bybit. Specializes in crypto derivatives and margin trading. The exchange offers low costs, fast order execution, and sophisticated trading tools. Bybit is ideal for more sophisticated users who wish to employ different trading strategies.

Identity Verification and Geographic Regulations

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

It is also important to consider that some crypto exchanges do not provide their services to citizens of certain countries due to regulatory restrictions. Always verify the availability of the exchange in your region and confirm the terms of service on the official website or through technical support.

How to Purchase Cryptocurrency on a Crypto Exchange

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

1. Registration. To begin, you need to pick a crypto exchange and sign up for an account there. The registration procedure usually involves entering basic information such as name, email, and password.
2. Complete identity verification. To comply with regulatory requirements, most crypto exchanges require identity verification. This may involve submitting a photo of a passport or other identification document, and sometimes verifying the address of residence. The process usually requires a few days.
3. Deposit funds. After verification, you can deposit fiat currency (EUR, USD, RUB) via bank transfer or using other payment methods such as electronic wallets.
4. Purchase cryptocurrency. Once the funds arrive in your account, you can acquire cryptocurrency. Select the desired cryptocurrency and set 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 send some of the acquired cryptocurrency to the casino's account. This is accomplished through the withdrawal function on the exchange, indicating the casino wallet address.
6. Confirm the transaction and start playing. Verify the information you entered at each step. Once the cryptocurrency reaches your casino account, you can start playing. Be sure to look for any casino bonuses for the deposited amount.

Cryptocurrency Exchangers

For those seeking a simpler way to obtain cryptocurrencies, crypto exchangers are a practical alternative. They usually do not require verification and allow fast exchange of fiat money for cryptocurrency. This is a handy tool for fast purchases or exchanges of digital assets.

The main advantages of crypto exchangers include the absence of registration and verification, which lowers the entry barrier for new users and speeds up the transaction process. Also, they usually have no strict geographic restrictions, making exchangers accessible to users globally.

To choose a trustworthy cryptocurrency exchange service, pay attention to the next aspects:

• Length of operation. Serves as an indicator of the reliability of the exchanger. Long-term presence in the market often shows stability and reliability of the service, as exchangers that have been operating for a long time typically accumulate experience in resolving various operational problems.
• Number of users and ratings. A crucial aspect when choosing an exchanger. A large number of positive reviews can indicate a positive reputation of the service, a user-friendly interface, and the quality of technical support.
• Fees. Can vary significantly depending on the exchanger, the type of currency, and the transaction amount. Increased fees can greatly increase the cost of the operation, so select platforms with competitive rates.
• Transaction processing. Can be executed either automated or manually. Auto processing systems typically provide faster transactions, while manual management may take more time but offers an extra level of control over the security of operations.

How to Purchase Cryptocurrency at an Exchanger

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

1. Select a Crypto Exchanger. Use the BestChange exchange monitoring service to identify a reliable exchanger with the best rates and feedbacks. The platform lists exchanges with current rates and exchange conditions.
2. Choose a Cryptocurrency. Decide on the cryptocurrency you want to purchase. This could be Bitcoin, Ethereum, USDT, or various options suitable for depositing into an online casino.
3. Set the Currency and Payment Amount. Pick the currency you have (USD, EUR, RUB) and indicate 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 credit card number or payment system data.
5. Transfer the Funds. Send the funds of the indicated amount to the account 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 deposited into your casino account, you are ready to start playing. Don't forget to look for possible deposit bonuses that can boost 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, similar to making a deposit but in reverse. Let's see what steps you need to take:

1. Go to the ""Withdraw"" Page. In your personal account on the casino website, find the ""Withdraw"" tab.
2. Specify the Amount. Enter the available amount you want to withdraw from your casino balance.
3. Select a Cryptocurrency. Specify 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, proceed to the next step.
4. Input Your Crypto Wallet Address. At this stage, you need to specify the address of your crypto wallet, to which the funds will be sent. Ensure that the address is correct to avoid errors in the transfer. You can easily find the address in the main window of your wallet.
5. Confirm the Transfer. The withdrawal request must be confirmed 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.

Summary

Now you are acquainted with the basics of using cryptocurrency: from buying and keeping to depositing into an online casino and withdrawing winnings. The first time may bring some confusion and trepidation, but over time, the process will turn nearly effortless for you.