Cryptocurrency has turned the iGaming industry upside down. Enthusiasts increasingly use digital transactions via Bitcoin, Litecoin, and coins to try their luck online. Despite the benefits of these services, it can be difficult for beginners to take the first step. If you are one of them, there is nothing to worry about.
You’ve landed in the right place because we are going to cover the basics of cryptocurrency, help you choose a reliable casino, and show you how to bet with BTC, LTC, etc. Whether you’re a crypto fan or just looking for a way to make your online transactions fast and secure, we’ll cover everything you need to know.
Explaining the Basics of Cryptocurrency
Gambling enthusiasts should never use a payment method they are not very familiar with. So let’s find out what cryptocurrency is and how it works. It is a digital variation of money based on blockchain technology. The currency is not controlled by any financial institution, so payments go directly between you and the casino operator. Since no intermediaries are involved, crypto deposits/withdrawals are processed in minutes and cannot be tracked. This feature guarantees your anonymity while you play online.
These days, crypto coins are featured in most virtual casinos. You will often find Bitcoin, Litecoin, Ethereum, and Dogecoin on the list of payment methods. Whichever coin you choose, you can be sure that your funds will be delivered to/from the casino as quickly as possible, and your sensitive information won’t be in the wrong hands.
Your Path to Crypto Gambling
After understanding what cryptocurrency is, many users still have no clue where to start when it comes to betting. In the following paragraphs, we will walk you through the steps.
Pick a Reliable Online Casino
Selecting a reliable gambling establishment ensures a safe and fun gambling experience. However, you should be especially careful because of the large number of alternatives available, some of which are not worth your trust. Here are the criteria to consider.
- Licensing and regulation.
- Games and providers.
- Welcome bonuses and ongoing promotions.
- List of payment methods (ensure it features BTC, LTC, and ETH).
- Effectiveness of customer support.
- Availability of a mobile site and/or application.
- The casino’s reputation and players reviews.
If you haven’t had the chance to search for gaming platforms before, we recommend starting with the most popular ones that already have a reputation for fair operators. The list usually includes Winz.io and other casinos that were at the origin of crypto gambling.
Create a Cryptocurrency Wallet
Before betting with cryptocurrencies, you must create a digital wallet to store them. It will keep your funds safe, allowing you to send and receive payments 24/7. There are two types of blockchain wallets: hot and cold. Hot wallets are designed for everyday transactions, while cold ones are offline and provide extra security measures for storing large sums.
To create a new wallet, explore trusted providers and pick the one with the crypto coins you need. Then, link your email to the wallet, add a strong password, and get verified. Thereafter, you can send and receive Bitcoins and other coins. Your private keys and recovery phrases should be kept secret for security reasons.
Get Crypto Coins
This is one of the most important steps. Because of the popularity of cryptocurrency, there are many ways to get it, like buying, mining, and earning. For instance, you can exchange fiat money (USD or EUR) on the appropriate exchanges. You can also earn cryptocurrency by getting paid for what you do. Whatever way you get crypto coins, do it safely.
Create and Fund a Casino Account
Once you have a few coins in your crypto wallet, it’s time to register with your chosen casino. This usually takes less than five minutes, but keep in mind that many operators carry out KYC verification, which takes up to 24 hours. Once the procedures are completed, make a deposit indicating your digital wallet number and the amount you want to invest. Money will land instantly, so you’ll be able to get started shortly after pressing the confirm button.
Playing with crypto stakes can be like an exciting and fun adventure. But you must be careful and know some nuances. Foremost, you must be familiar with the basics of cryptocurrency. Then, visit only reliable and safe casinos. You also have to create a blockchain wallet and ensure its security. Use a strong password and keep it secret. Finally, sign up at the casino, deposit, and place bets to win big!
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