Handbook to Digital Currencies for Online Casinos

Cryptocurrency is a digital currency that uses cryptography to ensure security. The key feature of cryptocurrencies is their decentralized nature, which distinguishes them from conventional fiat currencies regulated by central banks. Cryptocurrencies are based on blockchain technology, available to network participants.

The relevance of cryptocurrencies for players is high for several reasons: transaction anonymity, high speed, and independence from political and economic shifts. Using cryptocurrencies in online casinos allows players to avoid difficulties with banking and government restrictions, as well as enhances the degree of privacy for financial operations.

Benefits of Cryptocurrencies for Online Casino Players

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

• Anonymity. One of the major advantages of cryptocurrencies is anonymous transactions. Players can top up their accounts and withdraw winnings without providing personal data. This is especially crucial for countries with rigid legislative restrictions on gambling.
• Speed. Cryptocurrency transactions are processed much faster than conventional bank transfers. Thus, players can begin gaming instantly (after making a deposit) and also withdraw their winnings quickly.
• Fees. Here, everything is handled 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 stand guard over security and reliability. They automatically execute the terms of transactions, entirely removing the possibility of fraud or technical (banking) errors.
• Transparency. Blockchain technology provides complete 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 receive passive income without being seasoned investors.
• Lack of Control. Cryptocurrencies are not linked to any country or central bank. Vulnerability to political and economic changes is minimized.

Top 5 Cryptocurrencies for Online Casinos

There are thousands of cryptocurrencies, but some are particularly favored among online casinos. Some of them distinguish themselves 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 power 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 ensures almost no 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). 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 synonymous with an efficient and reliable system for transactions in online casinos.

Where to Hold Cryptocurrency

Before acquiring cryptocurrency, it's important to choose where to secure it—crypto wallets. The choice of a cryptocurrency wallet relies on many aspects, including the supported cryptocurrencies, the level of security, the ease of use of the user interface, and functionalities. Let's examine several wallets for your crypto holdings and their features.

MetaMask

This crypto wallet is suitable for holding BTC, ETH, BNB, and many 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 several 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 establish a new wallet or restore an existing one using a secret phrase (seed phrase).
• Features. Includes accepting, keeping, and transferring cryptocurrencies. You can manage multiple 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 stored on the device and are not transmitted outside.

TronLink

The designated storage for the TRON (TRX) cryptocurrency. It is also perfectly designed for handling USDT and USDC on the TRC-20 network. TronLink is accessible as a browser extension, a mobile app for Android and iOS, and in a web version format. In general, it is ideal for every single TRON blockchain aficionado. 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 download the app from the App Store or Google Play. Just follow the standard 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 engage with decentralized applications on the TRON blockchain. There is a feature to trade one cryptocurrency for another within the wallet itself. You can create and switch between multiple wallets.
• Security. The safeguarding of assets is provided by various levels of security and encryption. User keys are stored on the device and are not transmitted to external servers. It is enough to create a strong password and keep it secret.

Crypto Wallet in Telegram (@wallet)

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

• Installation. To start using the cryptocurrency wallet in Telegram, you need to enable the @wallet bot in the messenger. This can be accomplished by finding the bot through the search in the app and initiating a dialogue with it. Adhering to straightforward and direct prompts, the wallet can be set up in 2 minutes right in your messenger.
• Features. Users keep, transmit, and get TON, BTC, and USDT cryptocurrencies directly within the Telegram interface. This significantly streamlines the process of using cryptocurrency, as it does not require installing additional apps or programs. Transactions here are completed in a few clicks, which is particularly handy when making a deposit in an online casino from a smartphone.
• Security. The cryptocurrency wallet is integrated into the messenger, supplying a adequate level of security through the use of advanced encryption methods inherent to the Telegram platform. Without your knowledge, funds will not leave your account, but the key thing is to protect your Telegram account itself.

How to Buy Cryptocurrency

After picking the right crypto wallet, the next step is to deposit cryptocurrency. For this, there are specialized platforms - crypto exchanges and crypto exchangers. Each option offers unique services, conditions, and levels of security. Let's start with cryptocurrency exchanges.

Cryptocurrency Exchanges

Crypto exchanges are online platforms where you can buy, sell, and exchange cryptocurrencies using multiple fiat currencies or alternative digital assets. The most well-known crypto exchanges offer a vast selection of cryptocurrencies and have robust security measures. Here are some examples of well-regarded crypto exchanges:

• Binance. The biggest crypto exchange in the world with a vast range of cryptocurrencies and trading pairs. This is where the largest volume of crypto trading occurs. Binance features competitive rates, extensive liquidity, and numerous trading options, including futures and margin trading.
• Coinbase. Attracts users with its user-friendly and intuitive interface, making it an ideal option for beginners. It offers direct purchasing of cryptocurrencies with fiat money and supports a wide array of digital assets. It is distinguished by rigorous compliance to regulatory standards, providing confidence in the trustworthiness of operations.
• Bybit. Specializes in cryptocurrency derivatives and margin trading. The exchange offers attractive rates, speedy transactions, and powerful trading tools. Bybit is ideal for more experienced users who wish to leverage various trading strategies.

Identity Verification and Geographic Regulations

To work with crypto exchanges, you need to go through the identity verification process (KYC), which helps exchanges combat fraud and money laundering. This process includes submitting a photo of an identity document or additional personal details.

It is also important to consider that some crypto exchanges do not provide their services to citizens of certain countries due to local legislation. Always check the availability of the exchange 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 buying cryptocurrency on a crypto exchange and subsequently transferring it into an online casino consists of several steps.

1. Registration. To begin, you need to select 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 adhere to 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 money (EUR, USD, RUB) via bank transfer or using other payment methods such as credit cards.
4. Purchase cryptocurrency. Once the funds arrive in your account, you can purchase cryptocurrency. Select the desired cryptocurrency and make a purchase order at the current market rate or set your price with a purchase order.
5. Transfer cryptocurrency to the online casino. To start playing in a crypto casino, you need to send some of the purchased cryptocurrency to the casino's account. This is done through the withdrawal function on the exchange, providing the casino wallet address.
6. Confirm the transaction and start playing. Double-check the information you input at each step. Once the cryptocurrency reaches your casino account, you can commence play. Be sure to check any casino bonuses for the deposited amount.

Cryptocurrency Exchangers

For those looking for a more straightforward 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 convenient tool for quick purchases 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 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 sign of the reliability of the exchanger. Long-term presence in the market often shows safety and reliability of the service, as exchangers that have been operating for a long time often accumulate experience in addressing various operational problems.
• Number of users and ratings. A vital aspect when choosing an exchanger. A great amount of positive reviews can indicate a positive reputation of the service, a user-friendly interface, and the quality of technical support.
• Commissions. Can vary considerably depending on the exchanger, the type of currency, and the transaction amount. High fees can significantly increase the cost of the operation, so choose platforms with reasonable rates.
• Transaction processing. Can be executed either automatically or manually. Automatic processing systems typically provide speedier transactions, while manual management may take more time but offers an additional 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 latest rates and exchange conditions.
2. Select a Cryptocurrency. Decide on the cryptocurrency you want to buy. This could be Bitcoin, Ethereum, USDT, or various options available for depositing into an online casino.
3. Specify the Currency and Payment Amount. Pick the currency you have (USD, EUR, RUB) and specify the amount you want to buy cryptocurrency for.
4. Provide an Account for Receiving Cryptocurrency. Indicate the address of your crypto wallet, to which the purchased cryptocurrency will be sent. Also provide payment details, such as a bank card number or payment system data.
5. Transfer the Money. Send the funds of the specified 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 arrives in your crypto wallet, transfer the necessary amount to the account at the online casino. You can get the deposit details in the ""Deposit"" tab on the casino website.
7. Start Playing and Winning! After the funds are deposited into your casino account, you are ready to start playing. Don't forget to check possible deposit bonuses that can enhance 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 straightforward process, similar to making a deposit but in reverse. Let's see what steps you need to take:

1. Go to the ""Withdraw"" Section. In your profile on the casino website, find the ""Withdraw"" tab.
2. Specify the Amount. Enter the eligible amount you want to withdraw from your casino balance.
3. Choose a Cryptocurrency. Specify the type of cryptocurrency in which you wish to receive your winnings. Often, it is the same cryptocurrency in which the deposit was made. If there are no difficulties, 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. Make sure 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 verified by you, depending on the security level set on your account. This might be done through two-factor authentication or e-mail.
6. Receive Your Winnings. After confirming 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 familiar 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 uncertainty and nervousness, but over time, the process will turn almost automatic for you.