Handbook to Digital Currencies for Internet Casinos

Cryptocurrency is a electronic money that uses encryption to ensure safety. The main characteristic of cryptocurrencies is their decentralized nature, which distinguishes them from traditional government-issued money regulated by central banks. Cryptocurrencies are based on a blockchain system, accessible to network participants.

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

Benefits of Cryptocurrencies for Online Casino Players

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

• Anonymity. One of the key advantages of cryptocurrencies is anonymous 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 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 handled 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 automatically execute the terms of transactions, entirely removing the possibility of fraud or technical (banking) errors.
• Transparency. Blockchain technology ensures complete transparency of all transactions. That is, each transfer is public 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 seasoned 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 hundreds 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 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 valued 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 tied to the US dollar rate. This provides almost zero volatility (currency exchange rate changes). This feature makes USDT the preferred choice for players who value calm waters over the stormy sea of currency quotes.
• Binance Coin (BNB). The brainchild 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 commissions. Now TON is a standard for an efficient and reliable system for transactions in online casinos.

Where to Store Cryptocurrency

Before obtaining cryptocurrency, it's crucial to decide on where to keep it—cryptocurrency wallets. The choice of a crypto wallet relies on many aspects, including the supported cryptocurrencies, the security level, the convenience of the interface, and functional features. Let's examine various wallets for your crypto assets and their characteristics.

MetaMask

This crypto wallet is ideal for holding BTC, ETH, BNB, and numerous 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 several features that cannot be overlooked:

• Installation. The multi-currency wallet is quickly installed as a browser extension. The process of installation is simple 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 multiple accounts. It seamlessly integrates with decentralized applications on the Ethereum blockchain and other similar networks. This makes MetaMask particularly popular among users who actively participate in the DeFi and NFT ecosystems.
• Security. Elevated security level, as the user completely controls the keys. These are private keys that are saved on the device and are never transmitted outside.

TronLink

The official storage for the TRON (TRX) cryptocurrency. It is also perfectly designed 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 all and every TRON blockchain enthusiast. 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 users download the app from the App Store or Google Play. Just go through the typical 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 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 safeguarding of assets is ensured by multiple layers of security and encryption. User keys are stored locally and are not transmitted to outside servers. It is enough to establish 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 key 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 initiating a dialogue with it. Using straightforward and direct prompts, the wallet can be configured 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 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 intertwined into the messenger, providing 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 primary thing is to protect your Telegram account itself.

How to Buy Cryptocurrency

After selecting the right crypto wallet, the next step is to fund it with cryptocurrency. For this, there are dedicated platforms - crypto exchanges and crypto exchangers. Each option offers specific services, conditions, and degrees of security. Let's start with cryptocurrency exchanges.

Cryptocurrency Exchanges

Crypto exchanges are online platforms where you can buy, sell, and swap cryptocurrencies using multiple fiat currencies or alternative digital assets. The most renowned crypto exchanges offer a vast selection of cryptocurrencies and have strong security measures. Here are some examples of reputable 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 various trading options, including futures and margin trading.
• Coinbase. Draws in 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 vast selection of digital assets. It is distinguished by strong adherence to regulatory standards, adding 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 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 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 regulatory restrictions. Always verify the availability of the exchange in your region and clarify the terms of service on the site or through technical support.

How to Purchase Cryptocurrency on a Crypto Exchange

The process of buying cryptocurrency on a crypto exchange and subsequently sending 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 procedure usually requires entering basic information such as name, email, and password.
2. Finish identity verification. To comply with regulatory requirements, most crypto exchanges require identity verification. This may involve providing a photo of a passport or other identification document, and sometimes verifying the address of residence. The process usually requires 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 credit cards.
4. Buy cryptocurrency. Once the funds arrive in 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 limit order.
5. Transfer cryptocurrency to the online casino. To start playing in a crypto casino, you need to send some of the purchased cryptocurrency to the casino's account. This is done through the withdrawal function on the exchange, specifying the casino wallet address.
6. Confirm the transaction and start playing. Verify the information you entered at each step. Once the cryptocurrency is deposited into your casino account, you can start playing. Be sure to look for any casino bonuses for the deposited amount.

Crypto Exchangers

For those seeking a more straightforward way to acquire cryptocurrencies, crypto exchangers are a convenient alternative. They usually do not require verification and permit quick exchange of fiat money for cryptocurrency. This is a handy tool for quick 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 generally have no strict geographic restrictions, making exchangers accessible to users worldwide.

To pick a reliable cryptocurrency exchange service, pay attention to the following aspects:

• Project age. Serves as an sign of the reliability of the exchanger. Extended presence in the market often shows stability and reliability of the service, as exchangers that have been operating for a long time usually accumulate experience in resolving various operational problems.
• Number of users and ratings. A crucial aspect when choosing an exchanger. A large number of positive reviews can indicate a positive reputation of the service, a user-friendly interface, and the quality of technical support.
• Commissions. Can fluctuate greatly depending on the exchanger, the type of currency, and the transaction amount. Increased fees can significantly increase the cost of the operation, so choose platforms with affordable rates.
• Transaction processing. Can be executed 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 available. Below are the steps you need to follow.

1. Select a Crypto Exchanger. Use the BestChange exchange monitoring service to identify a reliable exchanger with the best rates and feedbacks. The platform lists exchanges with latest rates and exchange conditions.
2. Choose a Cryptocurrency. Pick the cryptocurrency you want to acquire. This could be Bitcoin, Ethereum, USDT, or other options suitable 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 purchase cryptocurrency for.
4. Provide the Wallet for Receiving Cryptocurrency. Specify the address of your crypto wallet, to which the purchased cryptocurrency will be sent. Also provide payment details, such as a credit card number or payment system data.
5. Transfer the Money. Complete the payment of the stated 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 arrives in your crypto wallet, transfer the necessary amount to the account at the online casino. You can get 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 check 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 gaming balance.
3. Choose 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. 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. Make sure that the address is entered correctly 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 confirmed 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 change depending on the blockchain network load.

Summary

Now you are familiar with the basics of using cryptocurrency: from purchasing and storing to placing in an online casino and withdrawing winnings. The first time may involve some uncertainty and nervousness, but over time, the process will become almost automatic for you.