Handbook to Cryptocurrencies for Internet Casinos

Cryptocurrency is a digital money that uses cryptography to ensure safety. The key characteristic of cryptocurrencies is their distributed nature, which distinguishes them from conventional government-issued money controlled by central banks. Cryptocurrencies are based on blockchain technology, accessible to network participants.

The relevance of cryptocurrencies for gamblers is high for several reasons: transaction anonymity, fast processing, and independence from political and economic shifts. Using cryptocurrencies in online casinos allows players to avoid issues with banking and government restrictions, as well as increases the degree of confidentiality for financial operations.

Benefits of Cryptocurrencies for Online Casino Players

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

• Anonymity. One of the major advantages of cryptocurrencies is private 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 begin gaming instantly (after making a deposit) and also withdraw 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 conventional payment methods.
• Reliability. Smart contracts stand guard over security and reliability. They self-execute the terms of transactions, entirely eliminating the risk of fraud or technical (banking) errors.
• Transparency. Blockchain technology ensures complete transparency of all transactions. That is, each transfer is open 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 significantly increase, so players often earn passive income without being experienced investors.
• Lack of Control. Cryptocurrencies are not tied 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 popular 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 famous and widely used cryptocurrency in the world. BTC is prized 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 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 ensures almost zero volatility (currency exchange rate changes). This feature 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 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 commissions. Now TON is synonymous with an effective and reliable system for transactions in online casinos.

Where to Hold Cryptocurrency

Before obtaining cryptocurrency, it's important to choose where to keep it—crypto wallets. The choice of a cryptocurrency wallet depends on many elements, including the variety of supported digital currencies, the level of security, the convenience of the user interface, and features. Let's examine various wallets for your crypto holdings and their attributes.

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 multiple features that cannot be overlooked:

• Installation. The multi-currency wallet is quickly installed as a browser extension. The installation process is straightforward and does not require specific technical knowledge. After installation, the user can create a new wallet or import an existing one using a secret phrase (seed phrase).
• Features. Involves accepting, keeping, and sending 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 engage in the DeFi and NFT ecosystems.
• Security. High security level, as the user exclusively controls the keys. These are private keys that are stored locally and are never transmitted outside.

TronLink

The designated storage for the TRON (TRX) cryptocurrency. It is also ideally 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 suitable for each and every TRON blockchain enthusiast. It has multiple features:

• Installation. For the browser, simply go to the Chrome Web Store, find TronLink, and add it to your browser. Smartphone owners get the app from the App Store or Google Play. Just adhere to the usual 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 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 several levels of security and encryption. User keys are kept locally and are not transmitted to external servers. It is enough to set up a strong password and keep it secret.

Crypto Wallet in Telegram (@wallet)

Online casinos make use of the pros of the TON ecosystem, one of the principal 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 done by locating the bot through the search in the app and beginning a dialogue with it. Following straightforward and direct prompts, the wallet can be established in 2 minutes right in your messenger.
• Features. Users keep, send, and get TON, BTC, and USDT cryptocurrencies right within the Telegram interface. This considerably simplifies 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 especially handy when making a deposit in an online casino from a smartphone.
• Security. The cryptocurrency wallet is integrated into the messenger, supplying 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 key thing is to secure your Telegram account itself.

How to Buy Cryptocurrency

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

Cryptocurrency Exchanges

Crypto exchanges are digital marketplaces where you can acquire, trade, and swap cryptocurrencies using various fiat currencies or other cryptocurrencies. The most well-known crypto exchanges offer a broad selection of cryptocurrencies and have robust security measures. Here are some examples of reputable crypto exchanges:

• Binance. The biggest crypto exchange in the world with a wide range of cryptocurrencies and trading instruments. This is where the largest volume of crypto trading takes place. Binance features competitive rates, high liquidity, and numerous trading options, including futures and margin trading.
• Coinbase. Attracts 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 large number of digital assets. It is distinguished by rigorous compliance to regulatory standards, adding confidence in the trustworthiness of operations.
• Bybit. Specializes in crypto derivatives and margin trading. The exchange offers low costs, fast order execution, and powerful trading tools. Bybit is ideal for more sophisticated users who wish to utilize multiple trading strategies.

Identity Verification and Geographic Restrictions

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

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

How to Purchase Cryptocurrency on a Crypto Exchange

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

1. Sign Up. To begin, you need to choose a crypto exchange and sign up for an account there. The registration procedure usually requires 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 sending a photo of a passport or other identification document, and sometimes confirming the address of residence. The process usually takes several days.
3. Deposit funds. After verification, you can deposit fiat money (EUR, USD, RUB) via bank transfer or using other payment methods such as debit cards.
4. Buy cryptocurrency. Once the funds are credited to your account, you can acquire cryptocurrency. Choose the desired cryptocurrency and place a purchase order at the current market rate or set your price with a limit order.
5. Transfer cryptocurrency to the online casino. To play in a crypto casino, you need to send 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 entered at each step. Once the cryptocurrency arrives in your casino account, you can begin gaming. Be sure to look for any casino bonuses for the deposited amount.

Cryptocurrency Exchangers

For those seeking a more straightforward way to get cryptocurrencies, crypto exchangers are a convenient alternative. They usually do not require verification and allow fast exchange of fiat money for cryptocurrency. This is a handy tool for quick buying or exchanges of digital assets.

The main advantages of crypto exchangers include the lack of registration and verification, which minimizes the entry barrier for new users and speeds up the transaction process. Also, they generally have no strict geographic restrictions, making exchangers available to users worldwide.

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

• Project age. Serves as an indicator of the reliability of the exchanger. Extended presence in the market usually suggests stability and reliability of the service, as exchangers that have been operating for a long time often accumulate experience in solving various operational problems.
• Number of users and ratings. A crucial aspect when choosing an exchanger. A high volume of positive reviews can indicate a positive reputation of the service, a easy-to-use interface, and the quality of technical support.
• Commissions. Can fluctuate greatly 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.
• Payment processing. Can be done either automated or manually. Auto processing systems usually provide speedier transactions, while manual management may require 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 straightforward and accessible. Below are the steps you need to follow.

1. Choose a Crypto Exchanger. Use the BestChange exchange monitoring service to locate a reliable exchanger with the best rates and feedbacks. The platform lists exchanges with up-to-date rates and exchange conditions.
2. Select a Cryptocurrency. Pick the cryptocurrency you want to purchase. This could be Bitcoin, Ethereum, USDT, or other options available for depositing into an online casino.
3. Specify the Currency and Payment Amount. Select 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 bank card number or payment system data.
5. Transfer the Money. Send the funds of the indicated amount to the wallet provided by the crypto exchange. After this, the cryptocurrency will be sent to your chosen crypto wallet.
6. Deposit into the Online Casino. Once the cryptocurrency reaches your crypto wallet, transfer the necessary amount to the account at the online casino. You can find the deposit details in the ""Deposit"" tab 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 increase your chances of winning.

How to Withdraw Winnings in Cryptocurrency

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

1. Go to the ""Withdraw"" Section. In your personal account on the casino website, find the ""Withdraw"" tab.
2. Set 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 want to receive your winnings. Usually, it is the same cryptocurrency in which the deposit was made. If there are no difficulties, move to the next step.
4. Input Your Crypto Wallet Address. At this stage, you need to specify the details 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 confirming 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 depositing into an online casino and withdrawing winnings. The first time may involve some uncertainty and nervousness, but over time, the process will turn almost automatic for you.