With the hype train not derailing anytime soon for bitcoin, you’re probably pretty interested in this king-crypto. Now, if you intend to use bitcoin for crash gambling, you need to have a bitcoin wallet.

What is Bitcoin wallet?

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A Bitcoin wallet is a software application in which you store your Bitcoins. However, bitcoin does not exist in any physical shape or form. Bitcoin can’t technically be stored anywhere except coin wallets. This type of software is easy to use and reliable while also being secure and fast.

There are many bitcoin wallet available. There are cloud-based wallets as well as wallets that can be downloaded to personal computers, tablet computers, or mobile phones. You can also get a physical hardware wallet that stores cryptocurrency. There is a common function among the various wallets, which is to transfer cryptocurrency, but each wallet has its own merit.

Best Bitcoin Wallet For Online Gambling

Cloud-based wallet

Cloud-based wallet is the easiest and most convenient to use wallet. However, storing cryptocurrency in the cloud means handing over the responsibility of storing to the company that safekeeps your cryptocurrency. Therefore, mutual trust between the two parties is vital in storing cryptocurrency in a cloud-based wallet.

We recommend the following cloud-based wallet:

Exodus

Exodus is a desktop and mobile wallet with a very simple user interface and an exchange built-in. One of Exodus’s most popular features is the ability to swap between a growing number of cryptocurrencies. Exodus currently allows for swaps between over 100 different cryptocurrencies.

Electrum

Electrum is one of the original Bitcoin wallets. It has been around since 2011, 2 years after Bitcoin’s creation, and has changed little since. While this wallet is bare-bones in terms of its user interface and its commitment to only Bitcoin, it excels at this primary function. Electrum is also more suited for advanced users due to its complex options.

Mycelium

Mycelium is an open-source and mobile-only Bitcoin wallet. Mycelium currently only supports Bitcoin. In some ways, Mycelium is quite similar to the Electrum wallet with some of the differences being that it is mobile only, has a more refreshed user interface than Electrum, and also has a built-in exchange.

Mycelium does anything you may need in crypto, including sending and receiving Bitcoin, Ethereum, and other coins with your smartphone. It’s free to install and get started, though you may run into fees from the exchanges you use with your wallet.

Blockchain

Blockchain the safest and most popular wallet. It is used for investing and storing cryptocurrencies. It is one of the most secure Bitcoin wallet which keeps track of who owns the digital tokens.

Blockchain Wallet provides an online wallet, which means that you don’t need to download or install anything to use it. Simply visit blockchain.info and sign up for a free wallet.

If you wish to use the mobile option, you will need to download the Blockchain Wallet app. The app is available for both iOS and Android.

Jaxx

Jaxx is a popular multi-currency, multi-platform all-in-one cryptocurrency wallet. It allows you to exchange more than 80 cryptocurrencies using the Jaxx wallet.

Hardware Wallet

A hardware wallet stores the user’s private key in a secure hardware device. Compared to software wallets, one of the main advantages of hardware wallets is immunity against computer virus. Moreover, since the private key is stored in the protected zone of a microcontroller, it cannot be transferred out of the device in cleartext.

We recommend the following hardware wallets:

Ledger Nano X

Ledger Nano X is the latest hardware wallet by Unicorn of hardware wallet Ledger. The beauty of Ledger wallet lies in its State-of-the-art Security which is possible with the help of 2 chips. Ledger Nano X is the perfect union of hardware security and mobility. The Bluetooth feature will let you use this hardware device on the move with your phone or laptop, without using a wire.

Ledger Nano S

Another popular hardware wallet by Ledger team. The Ledger Nano S is a product of a France-based startup. It has a sleek and attractive European touch to its design.

Some of its core features are the backup seed key for recovery of your bitcoins, the easy to use OLED interface, and a flash drive like feel with two buttons on the side for navigating the interface.

Trezor One

Whether you’re new to Bitcoin or already a security expert,Trezor Model One is the #1 Bitcoin wallet choice for everybody.

Trezor T

The Trezor Model T offers all the features that come with the Trezor One, along with support for newer cryptocurrencies and exchanges such as XRP, Cardano, Monero and more.

Everything about the Trezor Model T, from its hardware specifications to the software that powers it, is released under an open source license, which is a definite plus.

KeepKey

KeepKey is another hardware device available in the market for storing bitcoins.

It doesn’t offer much in comparison to the Ledger Nano S or Trezor. Moreover, it is more than two times in size than its peers, and not so convenient to carry in your pocket.

Caution! Don’t Use Coinbase Directly With A Sportsbook Or Casino!

A quick word of caution: you may be tempted to use the wallet built into coinbase to send and receive bitcoins from gambling sites. But that’d be a huge mistake.

Coinbase disallows the use of their wallet service for crash gambling purposes.

Do not do send or receive bitcoin directly from your coinbase account to a gambling site.

Also do not send from a sportsbook to your coinbase account directly either.

How do they know what you’re using their service for? Rumors abound that Coinbase monitors the bitcoin addresses of known gambling sites. If you’re caught sending money to, or receiving payouts from one of them, your account may be blocked.

There are two main types of wallets that people can use. The first category consists of all wallets where you have direct and absolute control over your digital currency assets, whereas the second type of wallet grants control of your coins to a third party.

While both types have advantages and disadvantages, we recommend that gamblers choose wallets where they have custody and complete control over their coins. There are a couple of reasons for this.

1. Online wallets such as Coinbase and Circle are based in the United States, which means that they are fully regulated. In return, there is a high chance that your account will be closed if they detect that you have sent funds to gambling websites.
2. Online gambling is a legal grey area in countries from all around the world, so it is often recommended that you pick a wallet which does not have a KYC/AML procedure. In return, this can allow you to gamble with significantly increased anonymity.

Deposit Money Into Your Bitcoin Wallet

Once you’ve got your account all set up, the next step is to deposit some money and purchase some Bitcoin. Remember, just like with any currency the rate of Bitcoin will fluctuate so make sure you look at the rate you are getting when you purchase. Don’t get too worked up on this as it will always be fluctuating some in each direction.

You can deposit into your Bitcoin account through a debit or credit card or by directly linking your bank account to your Bitcoin wallet. All of these methods will work the same so just choose the one that you prefer the most. Some Bitcoin wallets may also allow you to deposit through PayPal or some other payment methods if you prefer.

Best Bitcoin Wallet For Casinos

Deposit Your Bitcoins Into the Crash Casino

Once you’ve got your money on your Bitcoin wallet, you’re ready to make your deposit onto the online casino and get to playing. All you need to do is navigate to the deposits page of the casino or sportsbook you want to play at and click on the Bitcoin option. They will give you specific instructions on how to make your deposit, and that’s it! It shouldn’t take more than a few minutes from when the transaction is approved for you to have your money on the site and be playing or betting.

Bitcoin Casino Withdrawals

Instant withdrawals by using Bitcoin are not only possible but also a norm for withdrawals. Bitcoin casino online providers usually link your e-wallet once you make your first transaction. Even if you cashed in the funds via alternative payment methods, don’t be ashamed of using it for withdrawals. Just proceed with the instructions stated on the website of your best bitcoin online casino platform.

To perform the transaction, you should select Bitcoin as your preferred withdrawal method in your account. Enter your Bitcoin wallet address and the amount you want to withdraw. After confirming the transaction and receiving confirmation, the money will be sent to your wallet within minutes. Once you enter all the required data for the withdrawal procedure, the real money will be sent to your e-wallet instantly. Bitcoin isn’t only the most secure and fast option in comparison with other payments but is also continually developing, eventually making it better with each day of use. Withdraw money as many times as you want even after every game as no fees are charged. Try it on your own.

Best Bitcoin Wallet For Gambling

Will there be any fees with Bitcoin transactions?

How To Gamble With Bitcoin

Not usually. Bitcoins can be bought and sent peer-to-peer across the Internet without going through a bank or clearing house, which means there are no processing fees. However, there may be some processing fees depending on the online casino accepting them.