A crypto wallet is essential in all crypto transactions, including online gambling.
If you plan on gambling with cryptocurrency, you need a cryptocurrency wallet. But not just any wallet.
You need to choose a crypto wallet that is safe, reliable, and easy to use.
Let’s look at some of the best crypto wallets for online gambling, how they work, and how to keep them safe.
All About Crypto Wallets For Online Gambling
What Is A Crypto Wallet?
A cryptocurrency wallet is a tool for the safe storage of cryptocurrency for spending. It comes with a long, coded address to use for transactions.
It is not the same thing as a crypto exchange, where you purchase and trade digital currency. Some exchanges do offer crypto wallets. But exchanges are more like banks for crypto.
They are more easily accessed by the public and can be hacked like a bank can be robbed. A crypto wallet is a safer space for storing and spending your virtual currency.
Types Of Crypto Wallets
Crypto wallets come in various forms with various levels of security. The two major types of cryptocurrency wallets are “hot” wallets and “cold” wallets.
Hot Crypto Wallets
Considered a “custodial” wallet because an online site tends to it, hot wallets require a constant internet connection. They are used through your desktop, laptop, or mobile device and are more practical and convenient.
But because they are on the web, they are less secure, and you should keep only smaller amounts of currency that way.
Cold Crypto Wallets
A cold wallet is a physical way of storage, like a USB stick or even a piece of paper. You hide them away in a safe place and bring them out only when you need to trade or spend.
Since they are offline, they are “non-custodial” because the information on a cold wallet is entirely private and not accessible by anyone but you. Cold wallets are suitable for larger amounts of cryptocurrency.
These hardware wallets contain public and private keys, codes, or addresses written out or in the form of a QR code.
Why Do You Need A Crypto Wallet For Online Gambling?
You need a crypto wallet to execute and store your cryptocurrency transactions. Suppose you want to deposit cryptocurrency into an online casino or sportsbook.
In that case, you should always use a crypto wallet as your selected casino banking method rather than sending it from an exchange service to the gambling site.
The main reason for using a crypto wallet is safety. An exchange may contain a unique address for your cryptocurrency and allow you to access your currency through it.
But the coded address stored there can more easily be accessed by an intruder. A separate crypto wallet has a more private set of codes. It often needs a two-factor authentication (2FA) and a private address to access and use.
LegitimateCasino.com’s Staff Advice
“You should always send your crypto to a ‘middleman’ private wallet in-between the gambling site and the service you used to purchase crypto. Many exchange sites have restrictions or limitations regarding online gambling.”
Nate Wilson, Editor-In- Chief
Best Crypto Wallets For Online Gambling
Crypto wallets come with all sorts of neat features that make them more flexible and diverse. But the main goal is to find one that is practical, easy to use, and secure for online gambling.
Here is our pick of the best crypto wallets for online gambling:
BRD
BRD is a basic wallet and excellent for beginners because of its simplicity and ease of use. At the same time, it has some excellent features, such as the user’s ability to buy and trade as well as spend cryptocurrency.
But the BRD app has become popular with gamblers for its unique security. Though it is considered a non-custodial wallet, it is easily used online.
It is activated on the internet only at the owner’s command and deactivated and made totally private again after use. It only connects when you are ready to send or receive cryptocurrency. This exposes your coded info for only short periods.
Also, this wallet serves six cryptocurrencies, including Bitcoin. While it is free to register and download, it charges fees for transactions. You have to use it a lot to take full advantage of services like phone support.
Pros
- It is simple and suitable for newcomers.
- It is free to download.
- It has the security of being offline until you need it.
Cons
- Charges fees for transactions.
- Offers a limited number of cryptocurrencies.
- Has use and deposit requirements for full service.
Cash App Crypto Wallet
This wallet comes from an overall payment service that gained many users for its mobile-specific features. It added the capability to buy and sell Bitcoin in 2018 and has performed well for Bitcoin users.
Cash App has become noted for its speed as an exchange because buying and selling don’t require blockchain confirmation.
But Cash App is a reliable wallet, too, and noted for its user-friendly interface and customer bonuses. These make depositing into casinos and sportsbooks easy.
While the wallet only supports Bitcoin, becoming a member of the Cash App service allows users the flexibility of transacting money in several ways. Cash App even has a debit card and several investment features.
Whether you use it at Cash App casinos or other services, its mobile features are impressive. Cash App is known for its fast service, compatible with all smartphones and tablets. Cash App charges a nominal fee for its BTC transactions.
Pros
- Part of a comprehensive service with lots of features
- Instant transactions
- User-friendly interface
Cons
- Wallet only supports Bitcoin
- Fees for exchange
- Mobile-only wallet
Cash App makes Bitcoin casino deposits easy!
Buy and sell BTC from your mobile device, and then use the app to deposit crypto at any online casino.
Blockstream Green
Blockstream Green is part of a more extensive Blockstream system involved with various aspects of the Bitcoin ecosystem. Their experience gives them the expertise to host a good wallet application, especially for people familiar with using Bitcoin.
But Bitcoin is the only crypto that Blockstream Green offers, and the app doesn’t allow you to buy Bitcoin.
The service honed in on developing a tidy and complete interface with good security features. A 6-digit PIN and a series of seed words to log in are among the security features.
The system is complex enough to be suited more for people who know more about cryptocurrency use than newcomers. Blockstream Green has tiered transaction fees based on the speed you choose.
Pros
- Well-designed interface
- Solid reputation with gamblers
- Good choice for mobile use
Cons
- Serves only Bitcoin
- Not a great pick for beginners
- Charges transaction fees
Blockchain.com
This service is the most popular of our wallet picks, boasting 81 million customers and reporting almost a third of all Bitcoin trades.
Most of that popularity comes from Blockchain.com’s speedy and well-designed mobile app, suitable for people on the go.
Blockchain.com hosts both an exchange and non-custodial wallet for eight cryptocurrencies. It offers several features, including cost tracking and a rewards program. The service also has low transaction fees.
As with most heavily used online services, Blockchain.com has had good and bad reviews from customers.
There have been some reports of unresponsive customer service and problems with security. But this service is still worth a try, particularly for mobile users.
Pros
- Good for mobile use
- Has a rewards program
- Serves eight cryptocurrencies
Cons
- Higher transaction limits depend on user status
- Some reports of poor customer service
- Private key storage has security issues
Other Popular Crypto Wallets For Gambling
- Exodus: This wallet supports more than 100 digital currencies and is integrated with a sports gambling service. It is non-custodial, requires no registration, and is free to download. It has a simplified payment verification that makes transactions fast.
- Electrum: These wallets deal only in Bitcoin and are ideal for advanced users. They have extra security, requiring multiple signatures for transactions. And they support offline hardware wallets.
Best Bitcoin Wallet For Online Gambling
We like the BRD wallet for its ease of use, particularly for people who are new to cryptocurrency. It also has a security feature that leaves it offline when not in use.
The accessibility as a mobile app also makes it an excellent choice to play on the go at bitcoin casinos.
Best Bitcoin Wallet For Online Poker
Blockchain.com is the most popular crypto service and has many advantages for online poker players. The rewards program makes it good for people who frequently choose cryptocurrency for play.
It accommodates eight cryptocurrencies and is a good choice for mobile users.
Choosing The Best Crypto Wallet For Online Gambling
You don’t have to take our word for the top wallets for crypto gambling. Choose for yourself, but choose carefully with these factors in mind:
- Consider only the most trusted wallets: Check out their reputations on forums, and watch out for scams.
- Look for low fees: You want a wallet that is free to join and doesn’t charge transaction fees that are out of the ordinary.
- Choose a wallet that is easy to use: If you are new to crypto, you want a service that takes you through the steps of registering, trading, and spending.
How To Create And Set Up Your Crypto Wallet For Online Gambling
- Create an account for buying crypto: You can do this by going through an exchange or a hybrid wallet that accommodates buying cryptocurrency.
- Purchase your cryptocurrency: The service you use will take you through the steps of the process. They will translate your US Dollar deposit into the cryptocurrency amount at its current value.
- Choose and set up your wallet: This usually requires you to download an app and/or install the software. Some services may also charge a fee.
- Get your private key or address: The system will provide a series of security steps that you will need to access your coded key. You may get a QR code. Print out this info for cold storage.
- Deposit your crypto: Transfer the amount of crypto you want to use into your cryptocurrency wallet. The wallet service will guide you on this. Once you’ve done that, you’ll be ready to deposit crypto coins into a legit online casino or sportsbook account.
Tips To Keep Your Crypto Wallet Safe For Online Gambling
Security is a big issue with any online activity, and crypto gambling is no exception.
That’s why many people like the security of crypto gambling. Here are ways to keep your crypto wallet safe:
- Use cold storage or offline wallets as much as possible. If you have significant amounts of crypto, this is essential. You can set smaller amounts aside for hot wallet use.
- Pick a safe and reputable wallet service. Look for things like PINs and two-factor authentication (2FA) for access.
- Back up your wallet. Keep in mind the chances of a computer failure and how you would handle it.
- Keep your wallet and device software up to date. Don’t ignore those update notices. They often renew the interface to correct security issues.
FAQ
Our top choice is BRD; it serves six cryptocurrencies, including BTC, and is excellent for beginners because it is super easy to use. Also, it has awesome features, and allows you to buy, trade, and spend crypto.
An exchange is where you buy and sell cryptocurrency. A wallet is a tool you use to spend crypto. You can also withdraw gambling winnings into a wallet.
You can use more than one wallet for online gambling. You may want to store large amounts offline and smaller amounts for spending in a hot wallet.
Many crypto wallets are free to register and download. Most require at least a small transaction fee for spending.
Coinbase allows online gambling, but only in small amounts, and specific gambling sites. It is primarily an exchange service and strict about gambling.
Yes, you need a different wallet for each crypto. Many services provide wallets for each type of cryptocurrency they offer.
