Handbook to Digital Currencies for Internet Casinos

Cryptocurrency is a electronic currency that uses cryptography to ensure security. The key feature of cryptocurrencies is their decentralized nature, which distinguishes them from traditional fiat currencies controlled by central banks. Cryptocurrencies are based on a blockchain system, available to users in the network.

The relevance of cryptocurrencies for players is high for several reasons: anonymity of transactions, fast processing, and independence from geopolitical and macroeconomic changes. Using cryptocurrencies in online casinos enables players to avoid difficulties with banking and government restrictions, as well as enhances the level of confidentiality for financial operations.

Benefits of Cryptocurrencies for Online Casino Players

Using cryptocurrencies in online casinos offers players with a range of benefits that make them an appealing choice for online gambling. This is an crucial part that deserves attention. Namely:

• Anonymity. One of the key 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 rigid legislative restrictions on gambling.
• Speed. Cryptocurrency transactions are processed much faster than traditional bank transfers. Thus, players can start playing 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 traditional payment methods.
• Reliability. Smart contracts stand guard over security and reliability. They automatically execute the terms of transactions, entirely eliminating the risk of fraud or technical (banking) errors.
• Transparency. Blockchain technology ensures full transparency of all transactions. That is, each transfer is open and verifiable, reducing the risk of fraud since the transfer is easily provable.
• Investment. Cryptocurrencies not only function 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 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 outstanding reliability, ease of use, and widespread acceptance. Here are the five main cryptocurrencies that almost every online casino accepts:

• Bitcoin (BTC). Bitcoin is considered 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 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 provides almost no volatility (currency exchange rate changes). This point makes USDT the preferred choice for players who prefer 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 a standard for an efficient and reliable system for transactions in online casinos.

Where to Hold Cryptocurrency

Before obtaining cryptocurrency, it's crucial to determine where to keep it—cryptocurrency wallets. The choice of a crypto wallet is influenced by many factors, including the supported cryptocurrencies, the security level, the ease of use of the interface, and features. Let's examine various 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 well-known 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 should not be ignored:

• Installation. The versatile wallet is readily installed as a browser extension. The process of installation is straightforward and does not require special technical knowledge. After installation, the user can establish a new wallet or restore an existing one using a secret phrase (seed phrase).
• Features. Involves receiving, storing, and transferring cryptocurrencies. You can manage few accounts. It easily integrates with decentralized applications 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 level of security, as the user exclusively controls the keys. These are private keys that are kept on the device and are not transmitted externally.

TronLink

The official 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 ideal for each and every TRON blockchain supporter. It has various features:

• Installation. For the browser, simply visit 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 follow the usual 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 interact with 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 security of funds is provided by several layers of security and encryption. User keys are stored locally and are not transmitted to outside servers. It is enough to create 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 activate the @wallet bot in the messenger. This can be achieved by locating the bot through the lookup in the app and starting a dialogue with it. Adhering to simple and direct prompts, the wallet can be established 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 streamlines the procedure of using cryptocurrency, as it does not require adding extra apps or programs. Transactions here are completed in a few clicks, which is particularly useful when making a deposit in an online casino from a smartphone.
• Security. The cryptocurrency wallet is integrated into the messenger, providing a sufficient level of security through the use of advanced encryption methods built-in to the Telegram platform. Without your knowledge, funds will not leave your account, but the main 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 - cryptocurrency 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 acquire, trade, and exchange cryptocurrencies using multiple fiat currencies or other cryptocurrencies. The most renowned crypto exchanges offer a wide selection of cryptocurrencies and have robust security measures. Here are some examples of well-regarded 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, high liquidity, and various 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 direct purchasing of cryptocurrencies with fiat money and supports a large number of digital assets. It is distinguished by strong adherence to regulatory standards, providing confidence in the reliability of operations.
• Bybit. Specializes in cryptocurrency derivatives and margin trading. The exchange offers competitive fees, quick trades, and advanced trading tools. Bybit is ideal for more experienced users who wish to employ various trading strategies.

Identity Verification and Geographic Restrictions

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 submitting a photo of an ID 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 regulatory restrictions. Always check 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 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 choose a crypto exchange and create an account there. The registration process usually requires 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 providing 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 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 purchase cryptocurrency. Select the desired cryptocurrency and place 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 transfer 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 input at each step. Once the cryptocurrency reaches your casino account, you can commence play. Be sure to look for any casino bonuses for the deposited amount.

Cryptocurrency Exchangers

For those looking for a more straightforward way to get cryptocurrencies, crypto exchangers are a practical alternative. They commonly do not require verification and allow fast exchange of fiat money for cryptocurrency. This is a handy tool for fast transactions 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 expedites the transaction process. Also, they typically have no strict geographic restrictions, making exchangers accessible to users worldwide.

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

• Length of operation. Serves as an indicator of the reliability of the exchanger. Extended presence in the market usually indicates 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 feedbacks. A vital aspect when choosing an exchanger. A high volume of positive reviews can signify a good reputation of the service, a convenient 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 considerably raise the cost of the operation, so choose platforms with affordable rates.
• Payment processing. Can be done either automatically or manually. Auto processing systems generally provide faster transactions, while manual management may require more time but provides 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. Select a Crypto Exchanger. Use the BestChange exchange monitoring service to find a reliable exchanger with the best rates and feedbacks. The platform lists exchanges with latest rates and exchange conditions.
2. Select a Cryptocurrency. Pick the cryptocurrency you want to acquire. 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 specify 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 purchased cryptocurrency will be sent. Also provide payment information, such as a credit card number or payment system data.
5. Transfer the Funds. Send the funds of the stated amount to the wallet provided by the crypto exchange. After this, the cryptocurrency will be sent to your indicated 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 find the deposit details in the ""Deposit"" tab on the casino website.
7. Start Playing! After the funds are credited to 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

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. Set the Amount. Enter the eligible 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. Often, it is the same cryptocurrency in which the deposit was made. If there are no difficulties, move to the next step.
4. Enter 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 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 vary depending on the blockchain network load.

Summary

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 involve some confusion and trepidation, but over time, the process will turn almost automatic for you.