Handbook to Digital Currencies for Internet Casinos

Cryptocurrency is a virtual money that uses cryptography to ensure safety. The key characteristic of cryptocurrencies is their decentralized nature, which differentiates them from traditional fiat currencies controlled by central banks. Cryptocurrencies are based on blockchain technology, accessible to users in the network.

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

Advantages of Cryptocurrencies for Online Casino Players

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

• Anonymity. One of the key advantages of cryptocurrencies is anonymous transactions. Players can fund their accounts and withdraw winnings without providing personal data. This is especially important for countries with strict legislative 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 withdraw their winnings quickly.
• Fees. Here, everything is managed without intermediaries such as banks or payment systems. Therefore, the fees for cryptocurrency transactions are lower than those for using conventional payment methods.
• Reliability. Smart contracts stand guard over security and reliability. They self-execute the terms of transactions, completely removing the possibility of fraud or technical (banking) errors.
• Transparency. Blockchain technology ensures complete transparency of all transactions. That is, each transfer is open 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 greatly increase, so players often receive passive income without being experienced investors.
• Lack of Control. Cryptocurrencies are not linked to any country or central bank. Vulnerability to political and economic changes remains aside.

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 top cryptocurrencies that almost every online casino accepts:

• 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 appreciated in the world of gambling.
• Ethereum (ETH). Ethereum occupies a special place in the crypto world thanks to the power 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 creation of the Binance cryptocurrency exchange. Initially, their internal token became widely used worldwide. BNB quickly became a means of payment in various projects, including online casinos.
• Toncoin (TON). Originally an internal token of the Telegram messenger. The cryptocurrency gained rapid popularity due to high transaction speeds and low transfer commissions. Now TON is a standard for an efficient and reliable system for transactions in online casinos.

Where to Store Cryptocurrency

Before acquiring cryptocurrency, it's important to decide on where to secure it—cryptocurrency wallets. The choice of a cryptocurrency wallet depends on many factors, including the variety of supported digital currencies, the security level, the ease of use of the interface, and functional features. Let's examine various wallets for your crypto holdings and their characteristics.

MetaMask

This crypto wallet is suitable for storing BTC, ETH, BNB, and numerous 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 are noteworthy:

• Installation. The multi-currency wallet is quickly installed as a browser extension. The process of installation is easy and does not require advanced technical knowledge. After installation, the user can establish a new wallet or import an existing one using a secret phrase (seed phrase).
• Features. Involves receiving, keeping, and transferring cryptocurrencies. You can manage few accounts. It seamlessly integrates with decentralized applications on the Ethereum blockchain and other compatible networks. This makes MetaMask especially popular among users who take part in the DeFi and NFT ecosystems.
• Security. Elevated level of security, 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 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 every single TRON blockchain supporter. It has various 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 follow the typical 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 use dApps on the TRON blockchain. There is a feature to swap one cryptocurrency for another within the wallet itself. You can create and switch between multiple wallets.
• Security. The security of funds is provided by multiple levels of security and encryption. User keys are held locally and are not transmitted to external servers. It is enough to set up a complex password and keep it safe.

Crypto Wallet in Telegram (@wallet)

Online casinos frequently utilize the pros of the TON ecosystem, one of the main ones being the crypto wallet built right into the Telegram messenger. This is potentially the most practical 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 searching for the bot through the search in the app and beginning a dialogue with it. Adhering to clear and easy prompts, the wallet can be set up in 2 minutes right in your messenger.
• Features. Users store, send, and receive TON, BTC, and USDT cryptocurrencies right within the Telegram interface. This greatly streamlines the process of using cryptocurrency, as it does not require adding additional 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, offering a adequate level of security through the use of advanced encryption methods native to the Telegram platform. Without your knowledge, funds will not leave your account, but the primary thing is to secure your Telegram account itself.

How to Acquire Cryptocurrency

After choosing the right 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 levels of security. Let's start with cryptocurrency exchanges.

Cryptocurrency Exchanges

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

• Binance. The biggest crypto exchange in the world with a broad range of cryptocurrencies and trading pairs. This is where the largest volume of crypto trading occurs. Binance features competitive rates, extensive liquidity, and various trading options, including futures and margin trading.
• Coinbase. Captures the interest of users with its user-friendly and intuitive interface, making it an excellent 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 low costs, fast order execution, and advanced 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 go through the identity verification process (KYC), which helps exchanges fight against fraud and money laundering. This process includes providing 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 legal constraints. Always check 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 transferring it into an online casino consists of several steps.

1. Sign Up. To begin, you need to select a crypto exchange and register an account there. The registration procedure 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 another form of ID, and sometimes verifying 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 payment systems such as credit cards.
4. Buy cryptocurrency. Once the funds arrive in your account, you can purchase cryptocurrency. Pick the desired cryptocurrency and make 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 acquired 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 input at each step. Once the cryptocurrency arrives in your casino account, you can commence play. Be sure to look for any casino bonuses for the deposited amount.

Crypto Exchangers

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

The biggest 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 usually have no strict geographic restrictions, making exchangers available to users around the world.

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

• Project age. Serves as an sign of the reliability of the exchanger. Long-term presence in the market often suggests stability 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 critically important aspect when choosing an exchanger. A large number of positive reviews can indicate a good reputation of the service, a user-friendly interface, and the quality of technical support.
• Commissions. Can fluctuate significantly depending on the exchanger, the type of currency, and the transaction amount. Increased fees can greatly raise the cost of the operation, so choose platforms with competitive rates.
• Payment processing. Can be executed either automated or manually. Auto processing systems typically provide faster 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 acquiring 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 find a reliable exchanger with the best rates and feedbacks. The platform shows exchanges with current rates and exchange conditions.
2. Select a Cryptocurrency. Decide on the cryptocurrency you want to purchase. This could be Bitcoin, Ethereum, USDT, or various options available for depositing into an online casino.
3. Set the Currency and Payment Amount. Pick the currency you have (USD, EUR, RUB) and indicate the amount you want to purchase cryptocurrency for.
4. Provide an Account for Receiving Cryptocurrency. Indicate the address of your crypto wallet, to which the acquired cryptocurrency will be sent. Also provide payment information, 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 indicated crypto wallet.
6. Transfer Crypto into the Online Casino. Once the cryptocurrency is deposited into 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 and Winning! 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, 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. Select the type of cryptocurrency in which you want to receive your winnings. Often, it is the same cryptocurrency in which the deposit was made. If there are no issues, proceed to the next step.
4. Input Your Crypto Wallet Address. At this stage, you need to provide 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 protection 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 acquainted with the basics of using cryptocurrency: from purchasing and storing to depositing into an online casino and withdrawing winnings. The first time may bring some uncertainty and nervousness, but over time, the process will become almost automatic for you.