Choosing the Right Coin for You - Beginner's Guide to Cryptocurrencies
When we opened our virtual doors in 2017, Stake Casino was one of the first cryptocurrency casinos available. As crypto enthusiasts, we staked our bets on this exciting technology, believing in the power of decentralised finance and the opportunities it creates.
The entire cryptocurrency world might seem like a minefield that’s difficult to navigate, from non-fungible tokens and blockchain technology to crypto exchanges and the crypto market. However, when it comes to crypto gambling, it’s not that different from using a fiat currency (regular money like USD, EUR, or GBP) to place your bets.
Whether you’re an online slot game enthusiast, here to experience the immersive gameplay of live dealer games, wanting to place a bet on your favorite sports, or sit down to a virtual table game like poker or blackjack, it’s safe and easy to do so from your crypto wallet at Stake.com.
What is Cryptocurrency & What is Crypto Gambling?
Cryptocurrency is a digital payment system that uses encryption to secure crypto transactions. It operates on a decentralised ledger without a central governing authority, and investors keep their crypto assets in digital wallets.
Coins are created by using computing power to solve complex mathematical problems, a process known as mining. As a reward for this work, new cryptocurrency units are generated and added to the blockchain network.
Crypto gambling platforms operate in essentially the same way as betting with fiat currencies, except that crypto casinos require crypto payments rather than traditional payment methods to fund your account.
When you’ve funded your account and are ready to start playing your favourite games from the wide selection of top game providers like Pragmatic Play and Games Global, you simply select your wager amount in crypto coins using the game’s console and collect your prizes in the same currency. Whether you’re into classic casino games or immersive adventure slots, crypto casino games offer the same great gameplay you’re looking for.
The key thing to remember is that cryptocurrencies are much more volatile than fiat currencies, so the value of your coins can fluctuate in keeping with their market value.
What Crypto does Stake Offer?
A wide range of cryptocurrencies are available to fund your online casino account, including the popular Bitcoin and Ethereum coins. It can be daunting to try and choose which is best for you, so we concentrate on the big players to narrow down your choices and help you decide.
At Stake Casino, we accept payments from a range of coins, including the following most popular cryptocurrencies being used to play crypto casino games today:
There are a few different popular cryptocurrency choices for online gambling and betting, but the most common are Bitcoin, Ethereum, and Litecoin, as well as Bitcoin Cash. These are the most popular on the market and found on many other crypto gambling sites and Stake.
The good thing about using crypto deposits when playing your favourite online slots or sports betting at Stake is that once you’ve selected your crypto payment option, your online gaming experience will feel the same. Our wide variety of popular games, exclusive games and Stake Original games will all be available for you to play.
Choosing the Best Crypto Coin For You
When you’re ready to play your favourite slots using cryptocurrencies here at Stake Casino, we recommend you start by reading our blog for resources about understanding crypto to help you determine the right crypto coins to suit your needs.
We won’t offer you financial advice here at Stake, so doing your own research is important. If you want to make a better-informed decision about your choice of coin and which cryptocurrency wallets to use, learn the basics before you start.
We have a variety of blogs and resources to help you make an informed decision. If you're looking to invest in crypto, we highly advise you to read our Crypto Gambling Guide as well as our blog on Crypto Security.
Tips on Gambling & Betting with Crypto & Responsible Gambling
When it comes to tips for betting on online gambling platforms using digital assets, the most important thing to remember is that our selection of games consists of fair games built using RNG technology, so outcomes cannot be predicted except by chance.
Follow these simple steps to get the most from our online gambling platform:
Always check a title’s RTP, volatility and house edge so you understand the type of gameplay to expect.
Read our guide to online casinos before placing bets with your crypto coins.
Always exercise safer gambling practices when playing crypto games.
Set yourself a budget before you start spinning, and stick to it.
How to Buy, Deposit & Withdraw Cryptocurrency to Play Games
Effortlessly deposit crypto units into your account to play casino games by following these simple steps:
Step 1 – Retrieve your deposit address, located in Wallet > Deposit.
Step 2 – Choose the method that suits your needs. Stake.com supports multiple currencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (Doge), Litecoin (LTC), and others.
Step 3 – Use your deposit address as the ‘send to’ location for your crypto wallet or exchange.
Step 4 (Optional) – If you wish to deposit fiat currency, you can buy crypto for Stake via Moonpay.
Stake.com offers live support to players via our customer support staff for help with issues regarding depositing and withdrawing units.
Moonpay supports multiple payment options, including Visa, Mastercard, Apple Pay, Google Pay, and others, to buy cryptocurrency to play casino games. For a full list of supported payment options, please refer to the Moonpay documentation.
Learn how to use the Stake Vault to securely store cryptocurrency online to fund future gameplay at Stake Casino.
Casino Promotions & VIP Club at Stake.com
To get the most out of your online casino experience, we recommend exploring our exciting casino promotions for new and existing players, where we have a host of generous bonuses that could help you boost your wins when playing some of our best online slot games.
