Handbook to Digital Currencies for Internet Casinos

Cryptocurrency is a virtual money that uses cryptography to ensure security. The primary feature of cryptocurrencies is their distributed nature, which distinguishes them from conventional fiat currencies controlled by central banks. Cryptocurrencies are based on blockchain technology, accessible to network participants.

The importance of cryptocurrencies for players is high for several reasons: anonymity of transactions, high speed, and independence from geopolitical and macroeconomic changes. Using cryptocurrencies in online casinos enables players to bypass issues with banking and government restrictions, as well as increases the level of confidentiality for financial operations.

Advantages of Cryptocurrencies for Online Casino Players

Using cryptocurrencies in online casinos provides players with a range of benefits that make them an appealing choice 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 fund 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 conventional bank transfers. Thus, players can start playing instantly (after making 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 cheaper than those for using traditional payment methods.
• Reliability. Smart contracts stand guard over security and reliability. They automatically execute the terms of transactions, completely removing the risk of fraud or technical (banking) errors.
• Transparency. Blockchain technology ensures complete transparency of all transactions. That is, each transfer is public and auditable, reducing the risk of fraud since the transfer is easily provable.
• 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 receive 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 remains aside.

TOP-5 Cryptocurrencies for Online Casinos

There are hundreds of cryptocurrencies, but some are particularly popular among online casinos. Some of them stand out for their exceptional reliability, ease of use, and widespread acceptance. Here are the five top 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 prized 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 occupies 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 tied to the US dollar rate. This ensures almost no volatility (currency exchange rate changes). This feature makes USDT the favored 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 many services, including online casinos.
• Toncoin (TON). Initially an internal token of the Telegram messenger. The cryptocurrency gained rapid popularity due to high transaction speeds and low transfer commissions. Now TON is synonymous with an efficient and reliable system for transactions in online casinos.

Where to Store Cryptocurrency

Before acquiring cryptocurrency, it's essential to choose where to secure it—digital wallets. The choice of a cryptocurrency wallet relies on many aspects, including the supported cryptocurrencies, the level of security, the convenience of the user interface, and functional features. Let's examine various wallets for your crypto holdings and their attributes.

MetaMask

This crypto wallet is appropriate for storing BTC, ETH, BNB, and many other cryptocurrencies. It is popular as a web browser extension (Chrome, Firefox, Yandex Browser, etc.) and is also available as a mobile app for iOS and Android. MetaMask has various features that should not be ignored:

• Installation. The versatile wallet is readily installed as a browser extension. The process of installation is easy 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 receiving, storing, and transferring cryptocurrencies. You can manage few accounts. It smoothly integrates with decentralized applications on the Ethereum blockchain and other compatible networks. This makes MetaMask especially popular among users who engage in the DeFi and NFT ecosystems.
• Security. Strong security level, as the user solely manages the keys. These are private keys that are saved on the device and are not transmitted externally.

TronLink

The official storage for the TRON (TRX) cryptocurrency. It is also well-suited for managing 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 aficionado. It has several features:

• Installation. For the browser, simply go to the Chrome Web Store, search for TronLink, and install it to your browser. Smartphone owners download 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 send and receive TRX and TRC-20 tokens, like USDT, but also use decentralized applications 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 safeguarding of assets is provided by multiple layers of security and encryption. User keys are held on the device and are not transmitted to external servers. It is enough to establish a complex password and keep it safe.

Crypto Wallet in Telegram (@wallet)

Online casinos make use of the pros of the TON ecosystem, one of the main ones being the crypto wallet built right into the Telegram messenger. This is arguably the most convenient 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 locating the bot through the search in the app and starting a dialogue with it. Using straightforward and easy prompts, the wallet can be established in 2 minutes right in your messenger.
• Features. Users keep, send, and receive TON, BTC, and USDT cryptocurrencies directly within the Telegram interface. This greatly streamlines the process of using cryptocurrency, as it does not require installing more apps or programs. Transactions here are finished 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, providing a sufficient security level through the use of sophisticated encryption methods inherent to the Telegram platform. Without your knowledge, funds will not leave your account, but the key thing is to safeguard your Telegram account itself.

How to Purchase Cryptocurrency

After choosing the suitable 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 unique services, conditions, and levels of security. Let's start with cryptocurrency exchanges.

Cryptocurrency Exchanges

Crypto exchanges are digital marketplaces where you can purchase, trade, and exchange cryptocurrencies using multiple fiat currencies or other cryptocurrencies. The most well-known crypto exchanges offer a vast selection of cryptocurrencies and have strong security measures. Here are some examples of trustworthy crypto exchanges:

• Binance. The largest crypto exchange in the world with a broad range of cryptocurrencies and trading pairs. This is where the largest volume of crypto trading takes place. Binance features competitive rates, extensive liquidity, and numerous trading options, including futures and margin trading.
• Coinbase. Draws in users with its user-friendly and intuitive 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 strict adherence to regulatory standards, providing confidence in the dependability of operations.
• Bybit. Specializes in cryptocurrency derivatives and margin trading. The exchange offers competitive fees, fast order execution, and powerful trading tools. Bybit is suitable for more sophisticated users who wish to employ different trading strategies.

Identity Verification and Geographic Regulations

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

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 official website or through technical support.

How to Buy Cryptocurrency on a Crypto Exchange

The process of acquiring cryptocurrency on a crypto exchange and subsequently depositing 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. Complete identity verification. To adhere to 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 lasts 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. Purchase cryptocurrency. Once the funds are credited to your account, you can buy cryptocurrency. Pick 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 bought cryptocurrency to the casino's account. This is done through the withdrawal function on the exchange, indicating the casino wallet address.
6. Confirm the transaction and start playing. Double-check the information you input 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 looking for a simpler way to obtain cryptocurrencies, crypto exchangers are a practical alternative. They usually do not require verification and allow quick exchange of fiat money for cryptocurrency. This is a useful tool for quick purchases or exchanges of digital assets.

The biggest advantages of crypto exchangers include the lack of registration and verification, which reduces the entry barrier for new users and speeds up the transaction process. Also, they generally have no strict geographic restrictions, making exchangers accessible to users around the world.

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

• Length of operation. Serves as an sign of the reliability of the exchanger. Extended presence in the market usually suggests safety and reliability of the service, as exchangers that have been operating for a long time usually accumulate experience in solving various operational problems.
• Number of users and ratings. A vital aspect when choosing an exchanger. A great amount of positive reviews can signify a good reputation of the service, a convenient interface, and the quality of technical support.
• Fees. Can vary considerably depending on the exchanger, the type of currency, and the transaction amount. Increased fees can considerably increase the cost of the operation, so select platforms with competitive rates.
• Transaction processing. Can be executed either automatically or manually. Auto processing systems usually provide speedier 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 straightforward and open. 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 lists exchanges with up-to-date rates and exchange conditions.
2. Choose a Cryptocurrency. Pick the cryptocurrency you want to buy. This could be Bitcoin, Ethereum, USDT, or other options suitable 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 purchase cryptocurrency for.
4. Provide the Wallet for Receiving Cryptocurrency. Specify 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 stated amount to the account provided by the crypto exchange. After this, the cryptocurrency will be sent to your specified 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 transferred to your casino account, you are prepared to start playing. Don't forget to check possible deposit bonuses that can boost 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 profile on the casino website, find the ""Withdraw"" tab.
2. Specify the Amount. Enter the eligible amount you want to withdraw from your gaming balance.
3. Select a Cryptocurrency. Select 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 issues, 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. 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 security level set on your account. This might be done through two-factor authentication or email.
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 placing in an online casino and withdrawing winnings. The first time may bring some uncertainty and nervousness, but over time, the process will turn nearly effortless for you.