How to Buy Crypto
The first time I tried to buy crypto and deposit it at an online casino? Oh, boy. I had zero clue. Bitcoin, wallets, fees? What are you talking about?
If you feel the same now, welcome to the club, I might’ve said years ago. After years of crypto gambling, I can safely share my experience with you and tell you from first-hand interaction with crypto how to buy cryptocurrency for online casino gaming.
You’re right; you cannot use crypto at an online casino before purchasing some digital coins first. Do it the right way, and don’t mess up your first crypto deposit.
How to Buy Crypto – Step by Step
So – check out the steps below and see how you can buy crypto easily.
1. Secure Your Crypto Wallet: A Fun and Easy Guide
First off, you’ll have to store your crypto money somewhere, so the first step is to prepare a crypto wallet. The same as with cash – you store it in your wallet, right?
So, future crypto gamblers, let’s set up that crypto wallet.
What’s your wallet type? There are hot wallets (software) – apps for quick access and cold wallets (hardware) – physical devices to store it offline, which are much safer and extra secure, although they take more effort to use.
For beginners, a software wallet will do.
Next, you should choose a solid software wallet. The best choices among newbies are MetaMask (perfect for those exploring Ethereum, available as an app and extension, and very flexible), Coinbase Wallet (supports various cryptos, has a user-friendly design, and allows you to explore different crypto services), and Trust Wallet (offers various features from staking to exchange and managing cryptos), to name a few.
What should you do next?
- Go to the official website and download the wallet (be cautious of fake apps).
- Set up your account by creating a strong password and recovery phrase (write them down on paper and store them somewhere safe, seriously; no recovery phrase – no funds).
- Secure your crypto wallet with 2FA.
- Stay updated to benefit from the newest security features.
All good; what’s next?
2. Pick a Crypto Exchange and Move On
It’s time you chose a reliable crypto exchange online.
Stay away from shady sites and go with reputable exchanges like Coinbase (perfect for beginners), Kraken (low fees and multiple supported cryptos), or Binance (many supported coins and advanced features).
Here, you should also create an account and set a solid password. Plus, verify your identity to keep it legit. Uploading a photo ID or address might be enough. Protect your account by enabling 2FA as well.
3. Purchase Your First Crypto Step by Step
Ready to jump into the real action and buy crypto? Let me walk you through the process!
After setting up a wallet and finding the right crypto exchange, you’re up to finally buying your first crypto coins. Once you verify your crypto exchange account, it’s time to link your bank account or card (be aware of fees). Select the coin you want to buy, enter the amount, and confirm.
As soon as you get your coins, it’s time to move them. Of course, you can store them on the exchange, but it’s way safer to move them to your wallet, trust me.
For that, enter your crypto wallet’s address (you can find it in your personal wallet) and transfer the crypto from the exchange (by selecting the option to withdraw or send). Enter the amount and make sure to double-check the address. One mistake and your money will hit the wrong wallet. Remember – crypto transactions are irreversible.
4. Use Your First Crypto at an Online Casino
Everything seems to be ready for your first crypto deposit, so why wait? Here’s what you need to do next.
Select a reputable crypto casino that operates under a recognized license (this is a must). Make sure the casino supports your preferred cryptocurrency. Check for extra fees and terms. As an additional safety measure, verify if the casino uses SSL encryption and other security protocols.
By the way, user reviews are great for finding info about new casinos, regardless if they are crypto or FIAT.
If everything’s good, register an account (many crypto casinos don’t even require you to set up an account, and they’re fully anonymous) and go to the deposit section. Choose your coin, enter the amount, and transfer funds.
How? The casino will provide its unique address – copy it and use your personal crypto wallet to send funds to that address. Always double-check.
There you go. You’re ready to play with crypto!
5. Best Cryptos to Use at Online Casinos (for Beginners)
The most beginner-friendly coins to use for online gambling are as follows.
Bitcoin: BTC is the original cryptocurrency, but you know that, right? It’s the most popular coin at Bitcoin online casinos, obviously, so you won’t have a problem finding a suitable platform.
Ethereum: Another widely used crypto. ETH’s tech supports smart contracts, meaning more security and transparency. One of the most reliable coins out there, no doubt.
Litecoin: LTC is best known for crazy quick transactions and low fees, at least compared to other coins. Shortly, it’s perfect if you want to minimize costs as well as waiting times if you know what I mean.
Tether: USDT is a stablecoin. What does it mean? It’s literally pegged to the US dollar, so you won’t have to deal with price fluctuations. Yay! I’d say it’s an ideal option for newbies who are still getting a feel for the crypto market. See my list of Tether USDT casinos.
Ripple: XRP is designed for low-cost and lightning-fast moves of funds. It doesn’t settle for less. This crypto is getting more attention in the industry, offering some pretty fast deposits and withdrawals.
Final Thoughts: Make the Most of Your Crypto Purchase
I know it may seem like a lot for a start, but trust me, once you do it, you’ll get way ahead of the curve and think you’re a pro. The confidence kicks in unexpectedly. Just follow the previous step-by-step on how to buy crypto, and you’re good to crypto gamble.
My take on the process?
Don’t forget to do your homework. Take your time to understand how it works and what wallets, exchanges, and casinos to choose. Also, select the right crypto for your experience and needs, secure your assets in every way possible, and be very mindful of crypto volatility.
Keep pace with everything crypto gambling, from the latest coin releases to the newest hacking trends.
Stay savvy, crypto gamblers!
This article is written by Mary, a seasoned professional with a rich background as a casino croupier now transitioned into a digital publisher with a keen focus on the online casino scene. With years of firsthand experience on the casino floor, Mary offers her unique perspective to the digital world of gambling.
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