Handbook to Digital Currencies for Internet Casinos

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

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 enables players to avoid difficulties 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 crucial part that warrants attention. Namely:

• Anonymity. One of the major advantages of cryptocurrencies is anonymous transactions. Players can fund their accounts and withdraw winnings without sharing personal data. This is especially important for countries with rigid legal restrictions on gambling.
• Speed. Cryptocurrency transactions are completed much faster than conventional bank transfers. Thus, players can begin gaming instantly (after making 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 conventional payment methods.
• Reliability. Smart contracts stand guard over security and reliability. They automatically execute the terms of transactions, completely removing the possibility of fraud or technical (banking) errors.
• Transparency. Blockchain technology ensures full 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 act as an investment asset. Their value can significantly 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 popular among online casinos. Some of them distinguish themselves for their exceptional 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 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 occupies a special place in the crypto world thanks to the capabilities 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 feature 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 many services, 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 commissions. Now TON is a standard for an efficient and reliable system for transactions in online casinos.

Where to Keep Cryptocurrency

Before obtaining cryptocurrency, it's crucial to decide on where to secure it—crypto wallets. The choice of a cryptocurrency wallet depends on many elements, including the variety of supported digital currencies, the security level, the ease of use of the user interface, and functional features. Let's explore several wallets for your crypto assets and their features.

MetaMask

This crypto wallet is ideal for holding 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 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 advanced 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, storing, 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 take part in the DeFi and NFT ecosystems.
• Security. Elevated security level, as the user completely controls the keys. These are private keys that are kept locally and are not transmitted externally.

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 accessible as a browser extension, a mobile app for Android and iOS, and in a web version format. In general, it is ideal for each and every TRON blockchain enthusiast. It has several features:

• Installation. For the browser, simply go to the Chrome Web Store, find TronLink, and install it to your browser. Smartphone owners download the app from the App Store or Google Play. Just adhere to the typical procedure for setting up 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 trade one cryptocurrency for another within the wallet itself. You can create and switch between multiple wallets.
• Security. The security of funds is provided by several layers of protection and encryption. User keys are stored on the device and are not transmitted to outside servers. It is enough to set up a complex password and keep it secret.

Crypto Wallet in Telegram (@wallet)

Online casinos actively use the benefits 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 done by finding the bot through the lookup in the app and beginning a dialogue with it. Using clear 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 directly within the Telegram interface. This significantly streamlines the procedure of using cryptocurrency, as it does not require installing 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, supplying a sufficient security level through the use of advanced encryption methods built-in 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 Purchase Cryptocurrency

After picking the suitable crypto wallet, the next step is to fund it with cryptocurrency. For this, there are specific 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, sell, and exchange cryptocurrencies using various fiat currencies or other cryptocurrencies. The most well-known crypto exchanges offer a vast selection of cryptocurrencies and have solid security measures. Here are some examples of well-regarded crypto exchanges:

• Binance. The largest 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 competitive rates, high liquidity, and numerous trading options, including futures and margin trading.
• Coinbase. Captures the interest of users with its simple and straightforward interface, making it an excellent option for beginners. It offers immediate buying of cryptocurrencies with fiat money and supports a vast selection of digital assets. It is distinguished by strong adherence to regulatory standards, providing confidence in the dependability of operations.
• Bybit. Specializes in cryptocurrency derivatives and margin trading. The exchange offers competitive fees, quick trades, and sophisticated trading tools. Bybit is ideal for more sophisticated users who wish to utilize 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 fight against fraud and money laundering. This process includes providing a photo of an ID 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 legal constraints. 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 Buy 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. Sign Up. To begin, you need to choose 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 meet 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 lasts a few days.
3. Deposit funds. After verification, you can deposit fiat currency (EUR, USD, RUB) via bank transfer or using payment systems such as debit cards.
4. Buy cryptocurrency. Once the funds reach your account, you can acquire cryptocurrency. Pick the desired cryptocurrency and set a purchase order at the current market rate or set your price with a purchase order.
5. Send 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 accomplished through the withdrawal function on the exchange, indicating the casino wallet address.
6. Confirm the transaction and start playing. Double-check 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.

Crypto Exchangers

For those seeking a easier way to get cryptocurrencies, crypto exchangers are a practical alternative. They commonly do not require verification and permit quick exchange of fiat money for cryptocurrency. This is a convenient tool for fast purchases or exchanges of digital assets.

The biggest advantages of crypto exchangers include the lack of registration and verification, which lowers 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 around the world.

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

• Project age. 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 typically accumulate experience in addressing various operational problems.
• Number of users and ratings. A critically important aspect when choosing an exchanger. A high volume of positive reviews can indicate a good reputation of the service, a easy-to-use interface, and the quality of technical support.
• Fees. Can vary significantly depending on the exchanger, the type of currency, and the transaction amount. High fees can greatly raise the cost of the operation, so choose platforms with reasonable rates.
• Payment processing. Can be executed either automatically or manually. Automatic processing systems usually provide speedier transactions, while manual management may require more time but offers an additional 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 easy and open. 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 current rates and exchange conditions.
2. Choose a Cryptocurrency. Decide on the cryptocurrency you want to acquire. This could be Bitcoin, Ethereum, USDT, or other options available for depositing into an online casino.
3. Set the Currency and Payment Amount. Choose the currency you have (USD, EUR, RUB) and indicate the amount you want to buy cryptocurrency for.
4. Provide the Wallet 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 Money. Send the funds of the stated amount to the wallet 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 arrives in your crypto wallet, transfer the necessary amount to the account at the online casino. You can find the deposit details in the "Deposit" page on the casino website.
7. Start Playing and Winning! After the funds are deposited into 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

Withdrawing 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 eligible amount you want to withdraw from your gaming balance.
3. Choose 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. 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 entered correctly 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 verifying the operation, the money will be sent to your crypto wallet. Processing time may vary depending on the blockchain network load.

Conclusion

Now you are familiar with the basics of using cryptocurrency: from buying and keeping to placing in 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.