Last Updated on February 17, 2024 by Haris Khan
If you are a newbie in the world of crypto gambling, you’ve come to the right place. In this guide, we will provide a comprehensive overview of how to get digital coins for playing casino games online. Specifically, we’ll discuss the types of cryptocurrencies available, how to acquire them, and how to proceed with online gambling. So, let’s get started!
What Crypto Coins Can You Play With?
The type of coin you can use for gambling depends on the casino site. Most platforms that pioneered the crypto gambling industry started as BTC casinos. While Bitcoin and Ethereum remain the most commonly accepted cryptos, many gambling sites support a range of other tokens today. Ripple, Litecoin, Dogecoin, and Bitcoin Cash are just some of the coins supported by casinos. So, check with your preferred online casino to see which digital currencies it accepts before jumping into the game. If the site accepts a wide range of digital coins, feel free to add it to your top casino list 2023 and register an account there.
Crypto deposits and withdrawals are way faster than the traditional payment methods accepted by casinos. Thanks to blockchain technology that eliminates the need for third-party intermediaries like banks, crypto transactions are completed within minutes. Standard deposit and withdrawal methods can take up to several days to complete.
How To Acquire Crypto Coins And Start Playing?
Once you have established the coins accepted by the casino, it is time to acquire them so you can start gambling. Let’s break down this process step-by-step.
1. Set Up A Crypto Wallet
Your first step is signing up for a crypto wallet. You need a wallet to store your digital coins securely and make transactions easily. There are two types of wallets to choose from — web and hardware wallets. Here are the differences between them:
- Web wallets allow you to access your funds from anywhere with a decent internet connection, but they are less secure compared to hardware wallets;
- Hardware wallets, on the other hand, provide more security, as they store your coins offline.
2. Buy Cryptocurrencies
Once you have set up a wallet, you can proceed to buy cryptocurrencies. The most popular way to purchase digital coins is through cryptocurrency exchanges. Some popular exchange platforms are Coinbase, Kraken, and Bitstamp. You will need to register an account on the exchange of your choice and fill in the required KYC information (name, address, and phone number).
Payment methods to buy digital coins vary across exchanges. Depending on the platform, you can buy cryptocurrencies with fiat money via a credit card, bank transfer, or even PayPal.
You can also buy crypto from friends or family members who already own them. Or, you can obtain digital coins from certain ATMs.
3. Transfer Crypto To Your Casino Account
Once you have purchased your digital coins, it’s time to fund your casino account with them. If you have ever played in a traditional online casino such as Slothunters casino, you know what the procedure looks like. And it is much the same for cryptocurrencies. Here are the steps involved:
- Head over to the cashier page of the online gambling site and select “Cryptocurrency” as your payment method
- Copy-paste the wallet address of the casino and enter the amount you want to deposit
- Confirm your transaction and wait a few minutes until it is completed
After you have your casino account funded, you are all set to start playing the casino games of your choice.
4. Cash Out Your Winnings
If luck smiled at you and you won some money in your favorite casino game, you may be wondering how to withdraw your winnings. Fortunately, it’s not rocket science. Follow these simple steps to proceed:
- Head back over to the cashier page and select “Cryptocurrency” as your payment method for withdrawals.
- Enter the amount you wish to cash out and fill in the wallet address of your crypto wallet.
- In the case of any good crypto casino in Australia or worldwide, your withdrawal request will be processed immediately and the funds will be transferred back to your wallet in a few minutes.
As you can see, getting started with BTC gambling doesn’t have to be complicated. After reading this simple guide, you know how to acquire crypto coins and use them for gambling at online casinos. So, don’t wait any longer — dive right in and experience the thrill of playing with cryptocurrencies.