The best bitcoin wallets for online gambling »Crypto Insiders

In recent years, you could no longer ignore bitcoin and other cryptocurrencies. Digital currencies regularly dominated the news and an increasing number of people jump on the crypto train. Also in the online gambling world there is one hot topic. Games with cryptocurrency are gradually gaining ground. In this article, we explain what exactly it means, what a cryptocurrency is, and what the benefits of bitcoin casinos are. Finally, we show you the best BTC wallets for gambling.

Why do you need a crypto wallet for gambling?

To play at an online casino, it is important that you deposit money unless you use one no deposit bonus† Multiple payment methods are available at most online casinos, but gambling with cryptocurrencies is not possible without a cryptocurrency. As far as crypto is concerned, there are three types of online casinos: providers where it is not possible to deposit with crypto, providers where both payment with crypto and other payment methods are possible and providers where you only play with crypto. In the latter case, you can not try your luck at the online casino without a crypto wallet.

A crypto wallet (also referred to by the English term wallet) is where you store your cryptocurrency. This can be compared to a virtual bank account. There are about five types of crypto wallets:

  • You manage a mobile wallet via your smartphone.
  • You manage an online wallet online via a computer / laptop.
  • You download a software wallet to your computer / laptop and manage it offline.
  • A hardware wallet is an electrical device that you connect to your computer / laptop. This is similar to a USB stick or an external hard drive.
  • A paper wallet is a private key that you write on a piece of paper.

NB: it is crucial that you do not lose the password. There are so few ways to recover your wallet. Nevertheless, you need to choose a strong password because it guarantees security.

Only after creating a crypto wallet is it possible to buy cryptocurrencies. This can be done via a digital exchange office as well as via an exchange exchange (crypto exchange) or another bitcoin user.

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4 Reasons Why Bitcoin Casinos Are Becoming Popular

Bitcoin casinos are on the rise and with good reason. It offers several benefits:

  • No third parties are involved in a bitcoin transaction. This means that both the payment and the payout are processed very quickly. Blockchain technology ensures that the cryptocurrency is transferred to your account in no time and vice versa.
  • Bitcoin is a very secure system. The fact that there are no third parties involved in cryptocurrencies also plays a role in this. This makes it very difficult to hack these transactions.
  • There are hardly any additional costs associated with depositing and withdrawing with cryptocurrencies. This is due to the technology behind.
  • With cryptocurrencies, you enjoy a very high degree of anonymity and privacy because it is a decentralized system. Where it is mandatory at regular casinos to provide your official information (such as your name, date of birth, address and a valid proof of identity), this is not necessary at a bitcoin casino. You also do not need to provide bank details. This keeps your identity secret and no one will know you have played at a casino.

The 5 best BTC wallets you can use for gambling

There are not only different types of purses, but there are also a wide variety of providers. We list the 5 best BTC wallets that you can use for gambling:

1. Bitvavo

Bitvavo is a Dutch provider where you can buy, sell and store cryptocurrencies. It is a very reliable and secure platform and therefore ranks high. The disadvantage of a wallet at Bitvavo is that you can only store cryptocurrencies that you have purchased through the platform. If you also want to use other platforms for this, you would rather seek refuge in another crypto-wallet.

2. Emigration

Exodus is a wallet that is available for both desktop and mobile. This wallet is very suitable for beginners but will not disappoint even if you are more experienced with cryptocurrencies. This wallet is user-friendly and supports a large list of cryptocurrencies. Exodus is secure, but is more vulnerable to security vulnerabilities than other wallets.

3. Ledger Nano X

Ledger Nano X is a hardware wallet. That means you have to buy a physical device. So one has to withdraw the wallet for it and that is immediately the biggest drawback. You get something in return: It is a very secure storage method and the device is also very easy to use. If you are looking for a budget alternative, the Ledger Nano S is a great option. This is much friendlier for the purse, even if you have much less storage space.

4. Coin base

Coinbase is a crypto broker that also offers a user-friendly digital wallet. This can be controlled on your computer / laptop as well as on your smartphone. The platform can be booked as reliable and secure and is also suitable for both beginners and veterans. However, the list of supported cryptocurrencies is quite limited and hardware wallets remain more secure – and you do not need internet access for that.

5. Treasure

Trezors hardware wallets are seen as one of the safest ways to store your cryptocurrency. Moreover, it is a simple solution. Trezor wallets are like Ledger Nano X hardware wallets. This has the same drawback: the device has a reasonable price, so you need to be able and willing to use it.

Conclusion

As you can read, there are quite a few benefits to playing with cryptocurrency. If you want to get started with this, it is essential that you have a crypto wallet. There are not only different types of wallets, but also numerous providers. A number of good purses are mentioned above, but it certainly does not hurt to look for yourself and compare the different options.


The above article is a submitted piece and is not the responsibility of Crypto Insider. This is not financial advice.

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