Cryptocurrency adoption around the world has grown at an unprecedented rate in recent years. Many popular businesses and mega-corporations have adopted crypto.
Some of the examples that even an average person might recognize include Microsoft, KFC, and Starbucks. On the other hand, the gambling industry has always been ahead in the race for crypto, and with the recent advancements in how digital currency is traded, crypto gambling has become the norm.
But whether you’re looking to play slots, bet on your favorite teams, or get competitive in a game of poker, you’re going to need a crypto wallet.
What is a crypto wallet?
A crypto wallet is a digital application that is used to store and manage cryptocurrencies like Bitcoin, Ethereum, Ripple, and many others. They allow users to send, receive, and spend digital currencies online with an easy-to-use interface. A crypto wallet can also be a physical device with a thumb drive form factor that stores private keys to your cryptocurrencies.
Importance of crypto wallet for gambling and betting
When you buy crypto from an exchange, you transfer it to your digital wallet for future use. There are some exchanges that hold your cryptocurrency for you, but using a wallet with full control is a far better option.
When wagering on online gambling sites, you simply need to use your crypto keys, and your transaction will be seamless and instant. For instance, when activating your account to bet money online at the best Bitcoin slots, you can choose your cashier and select your preferred cryptocurrencies to deposit. Throughout this process, a handy digital wallet will make your experience extremely dynamic, as it will facilitate a seamless transfer of your assets.
With that in mind, we have compiled a list of the top 5 best crypto wallets out there for gaming at online casinos.
BitPay is one of the most popularly used wallets to store cryptocurrency; it is fast, secure, and supported on multiple platforms. These include Android, Windows, iOS, Mac, and Linux, so you are in no way limited. The wallet has a very easy-to-understand interface that even a novice crypto enthusiast can use.
BitPay also offers options to swap one crypto for another and buy gift cards with your holdings. The wallet is the best choice for gambling because the application uses BPP (Bitcoin Payment Protocol) to make sure that users don’t deposit money to the wrong address. The wallet supports major cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, XRP, and Dogecoin, among others, and allows you to buy crypto with USD.
MetaMask is a great wallet if you only use Ethereum-based cryptocurrencies and tokens, as it doesn’t support BTC. This might sound limiting, but the feature it offers greatly offsets the lack of support for Bitcoin. And many professionals prefer Ethereum-based cryptocurrencies over BTC, as the Ethereum blockchain processes transactions much faster.
Aside from the simple user interface, the flexibility of MetaMask Wallet makes it a great choice for those who are looking for big returns on crypto in the long run. MetaMask wallet can be accessed via a browser extension as well as a mobile app. It’s important to note that MetaMask is a non-custodial wallet, meaning it does not store private keys and users have full control over it.
Coinbase Wallet is another non-custodial application on this list. It allows you to buy many of the major cryptocurrencies via Visa, Bank Transfers, or Mastercard Cards with ease. It is one of the most popular wallets in the US. You can use it to manage all your crypto holdings and NFTs. The wallet is available on computers as well as mobile devices. With this, you can never miss your gambling action, whether you are on the go or relaxing at home. The application also supports decentralized web (Web3) and dapps, which is a new trend in the blockchain industry. A wallet like Coinbase can seem daunting for new users, but it is worth every bit of effort.
Ledger Nano S Plus
Ledger Nano is a hardware crypto wallet with a Swiss Army knife-like form factor. As cool as it sounds, it is also incredibly practical. It supports over 5000 cryptocurrencies and NFTS, and it will serve as cold storage for your digital assets that you can keep locked away until you need to connect it to the internet. Ledger Nano S Plus is non-custodial and beginner-friendly, making it perfect for those who want to store their gambling winnings offline.
When you buy the Ledger Wallet, you’ll get the wallet hardware, an instruction manual, and a Type-C USB cable. It can be connected to mobile devices and computers as well. Unlike most digital wallets out there, which are free, the Nano S Plus will cost you anywhere between $80-$200.
Exodus is a simple digital wallet with a ton of features that allow you to trade crypto across multiple devices. It might not support as many cryptocurrencies as its competitors, but it does its job very well. It is a free wallet available on both mobile and computer devices. If you are a novice just getting into Bitcoin gambling, this is the best option. It has functionality but falls behind in security. Nonetheless, it’s a great choice to manage a variety of crypto options.