How to Convert Your Crypto to Casino Chips

Strictly speaking, online casinos don’t use chips in the same sense as physical casinos. A player’s balance is typically displayed as money left in their local currency. This is true when using cryptocurrency to deposit and play. But, with that said, you still need to be able to get cryptocurrency and then deposit it to your chosen online casino to be able to spend the funds on your favorite casino games. 

Choose A Casino

Crypto casinos operate like any other online casino. Players register an account, deposit funds, and then use those funds to play games. They offer the same variety of slots, table games, and features like deposit bonuses and promotions. However, whereas traditional deposits and withdrawals can take days, crypto alternatives are nearly instant.

However, not all online casinos accept cryptocurrency. You will need to look specifically for crypto casinos. If you already hold a preferred cryptocurrency, ensure the site agrees with this coin. The most common coins offered are Bitcoin, Ether, Litecoin, Doge, and Tether, but you can also find sites that accept Solana and others, so take the time to look around and find the one that meets your needs. Also, ensure the casino offers the games you like, whether table, card or sports betting.

Get A Crypto Wallet

You will need a crypto wallet to hold cryptocurrency, even if it is only for a short period. You can keep crypto on an exchange, but this isn’t considered a secure or private solution. Hardware wallets are the most secure because they aren’t connected to the Internet, but unless you have a substantial crypto balance, a hardware wallet may be unnecessary for your needs.

Before you proceed, choose a reliable, reputable, secure software wallet and ensure it is compatible with your chosen cryptocurrency. Set up the wallet, store your seed phrase somewhere secure away from the device where it is kept, and use an ultra-secure password option. Ideally, the wallet should also have two-factor authentication to offer additional protection.

Buy Crypto

While you don’t want to store cryptocurrency on an exchange for any period, you will need to use a cryptocurrency exchange in most cases. Buying crypto through private transactions or decentralized exchanges is possible, but centralized exchanges like Coinbase, Binance, and Kraken are some of the most commonly used services. 

Choosing the right exchange is as important as choosing the right sportsbook. Deposit funds and use these to buy your chosen crypto, ensuring you understand the exchange rate and pay the network fees. 

Deposit Crypto At The Casino

On your chosen casino, choose the deposit crypto option. Select the crypto you want to send and copy the wallet address. Some casinos offer QR code payments. If your crypto wallet is installed on your phone, you can scan the QR code, which will fill in the wallet address and crypto selection, making errors less likely and ensuring a faster, smoother deposit of funds.

Alternatively, some sites might offer links to click, or you will have to copy the web address and use this in your wallet. Depending on your cryptocurrency, the transaction might take a few minutes to complete, but some offer instant deposits.

Bonuses

Some crypto casinos, like traditional online casinos and crypto sportsbooks, offer bonuses to players when they place their first deposit. Some offer bigger bonuses to players who use cryptocurrency. Check the terms and conditions of any bonuses, if you intend to take advantage.

Ensure you meet any minimum and maximum deposit requirements and time limits. Also, make sure you use an appropriate cryptocurrency to get the bonus. Some sites may only offer the bonus if you use their dedicated crypto coin.