Handbook to Digital Currencies for Internet Casinos

Cryptocurrency is a electronic currency that uses encryption to ensure safety. The key characteristic of cryptocurrencies is their decentralized nature, which differentiates them from conventional government-issued money regulated by central banks. Cryptocurrencies are based on a blockchain system, accessible to users in the network.

The relevance of cryptocurrencies for players is high for several reasons: anonymity of transactions, high speed, and independence from political and economic shifts. Using cryptocurrencies in online casinos allows players to avoid 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 range of advantages that make them an attractive 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 important for countries with strict legislative restrictions on gambling.
• Speed. Cryptocurrency transactions are completed much faster than conventional bank transfers. Thus, players can begin gaming instantly (after completing 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 conventional payment methods.
• Reliability. Smart contracts ensure security and reliability. They automatically execute the terms of transactions, entirely eliminating the risk of fraud or technical (banking) errors.
• Transparency. Blockchain technology provides 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 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 tied 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 popular among online casinos. Some of them stand out 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 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 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 popular 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 small transfer commissions. Now TON is synonymous with an effective and reliable system for transactions in online casinos.

Where to Hold Cryptocurrency

Before acquiring cryptocurrency, it's crucial to decide on where to secure it—crypto wallets. The choice of a crypto wallet relies on many elements, including the variety of supported digital currencies, the security level, the ease of use of the interface, and functionalities. Let's look at a few wallets for your crypto assets and their attributes.

MetaMask

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

• Installation. The multi-currency wallet is quickly installed as a browser extension. The installation process 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. Includes accepting, storing, and sending cryptocurrencies. You can manage few accounts. It seamlessly integrates with DApps on the Ethereum blockchain and other compatible networks. This makes MetaMask notably popular among users who take part in the DeFi and NFT ecosystems.
• Security. Strong level of security, as the user completely controls the keys. These are private keys that are kept on the device and are not transmitted outside.

TronLink

The official storage for the TRON (TRX) cryptocurrency. It is also ideally 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 ideal for all and every TRON blockchain enthusiast. It has several features:

• Installation. For the browser, simply go to the Chrome Web Store, locate TronLink, and install it to your browser. Smartphone users get 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 engage with dApps on the TRON blockchain. There is a feature to exchange one cryptocurrency for another within the wallet itself. You can generate and switch between multiple wallets.
• Security. The security of funds is guaranteed by multiple layers of protection and encryption. User keys are kept on the device and are not transmitted to external 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 principal ones being the crypto wallet built right into the Telegram messenger. This is arguably 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 done by finding the bot through the search in the app and starting a dialogue with it. Following 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 right within the Telegram interface. This considerably simplifies 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 handy when making a deposit in an online casino from a smartphone.
• Security. The cryptocurrency wallet is integrated into the messenger, offering a suitable security level through the use of modern encryption methods inherent to the Telegram platform. Without your knowledge, funds will not leave your account, but the main thing is to safeguard your Telegram account itself.

How to Purchase Cryptocurrency

After choosing 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 different fiat currencies or alternative digital assets. The most reputable crypto exchanges offer a vast selection of cryptocurrencies and have robust security measures. Here are some examples of trustworthy crypto exchanges:

• Binance. The largest crypto exchange in the world with a vast range of cryptocurrencies and trading instruments. This is where the largest volume of crypto trading occurs. Binance features low fees, extensive liquidity, and various trading options, including futures and margin trading.
• Coinbase. Draws in users with its simple and straightforward interface, making it an perfect option for beginners. It offers immediate buying of cryptocurrencies with fiat money and supports a large number of digital assets. It is distinguished by strict adherence to regulatory standards, adding confidence in the dependability of operations.
• Bybit. Specializes in crypto derivatives and margin trading. The exchange offers low costs, fast order execution, and powerful trading tools. Bybit is ideal for more experienced users who wish to leverage various trading strategies.

Identity Verification and Geographic Regulations

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 identity document 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 legal constraints. Always verify the availability of the operation 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 sending it into an online casino consists of several steps.

1. Sign Up. To begin, you need to pick a crypto exchange and sign up for an account there. The registration process usually involves entering basic information such as name, email, and password.
2. Complete 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 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 are credited to your account, you can acquire cryptocurrency. Choose the desired cryptocurrency and set 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 transfer some of the purchased cryptocurrency to the casino's account. This is accomplished through the withdrawal function on the exchange, providing the casino wallet address.
6. Confirm the transaction and start playing. Double-check the information you provided at each step. Once the cryptocurrency is deposited into your casino account, you can commence play. Be sure to check any casino bonuses for the deposited amount.

Crypto Exchangers

For those looking for a simpler way to get cryptocurrencies, crypto exchangers are a convenient alternative. They usually do not require verification and allow fast exchange of fiat money for cryptocurrency. This is a convenient tool for fast purchases or exchanges of digital assets.

The main 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 typically have no strict geographic restrictions, making exchangers available to users globally.

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

• Length of operation. Serves as an indicator of the reliability of the exchanger. Long-term presence in the market often shows safety and reliability of the service, as exchangers that have been operating for a long time typically accumulate experience in resolving various operational problems.
• Number of users and feedbacks. A critically important aspect when choosing an exchanger. A great amount of positive reviews can indicate a good reputation of the service, a user-friendly interface, and the quality of technical support.
• Fees. Can fluctuate greatly depending on the exchanger, the type of currency, and the transaction amount. High fees can considerably increase the cost of the operation, so select platforms with reasonable rates.
• Transaction processing. Can be done either automated or manually. Auto processing systems typically provide speedier transactions, while manual management may require 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 accessible. 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 displays 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 other options suitable for depositing into an online casino.
3. Set 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 an Account for Receiving Cryptocurrency. Indicate 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 Money. Complete the payment 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 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 prepared to start playing. Don't forget to check possible deposit bonuses that can enhance 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"" Page. 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 provide 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 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 acquainted with the basics of using cryptocurrency: from buying and keeping to depositing into an best online casino 1GO and withdrawing winnings. The first time may bring some uncertainty and nervousness, but over time, the process will become almost automatic for you.