The Best Crypto Wallets for Playing Online Pokies: Security and Convenience Compared

By Terry Ashton, updated October 15, 2024

Cryptocurrency has transformed the way many gamble online. Virtual currency has become a preferred option for many.

As the number of people using an online casino continues to rise, operators have been looking for ways to differentiate themselves from the competition. Accepted payment methods have been identified as one area of focus.

By offering alternative methods, a mobile casino online can gain a competitive advantage. Many players are increasingly opting for mobile platforms due to their convenience, reflecting a growing trend towards accessible gaming experiences. As cryptocurrency becomes widely adopted because of its benefits, more sites are beginning to accept it as a form of payment. We’ve even seen recent news break out about Stripe, as the global payment provider has reintroduced crypto payments.

Why is cryptocurrency becoming more accepted across online casinos?

If you’re not quite on the same wavelength as others regarding crypto, it can be beneficial to understand the advantages of using them. Although several positives that come with them can enhance many different experiences, they appear to complement iGaming perfectly for some.

Firstly, players want convenience when they are making deposits or withdrawals. They want to see their deposits credited instantly. This allows them to start playing their favorite pokies as quickly as possible and without having to wait for funds to be authorized. For those lucky enough to have funds to withdraw, cryptocurrency can be a better method than more traditional fiat options.

A withdrawal process can often be a lengthy process. Players using bank cards may find that they are waiting days/weeks for funds to be cleared and received. Those using crypto, though, can receive them in a matter of minutes or hours. There is no third party involved in transactions made with digital currency, thus speeding up the process. This can also make them cheaper.

While quick transaction speeds can offer convenience, players also want security when playing at an online casino. Signing up and playing at a site can involve a lot of sensitive data. They are often required to provide identification data, or they can be asked to supply details that link to their financial accounts. This can be dangerous, as they can become at risk if a successful cyber attack is to be experienced.

Cryptocurrency can keep player identities private. It is more secure than fiat options, as it can be protected. Digital currency requires users to have an encryption key. This key is required whenever funds are trying to be accessed and will be unique to the individual. It can’t be as easily broken as passwords can. At the same time, it isn’t linked to anything else, and private information about a person’s identity isn’t used to create the accounts. All that is needed is a crypto wallet.

Getting the right crypto wallet for iGaming

As alluded to, a crypto wallet is needed when using digital currency. These wallets are essentially the virtual form of physical wallets, as they similarly hold a person’s money. Without them, crypto cannot be used to make a deposit or be withdrawn from a casino.

However, several options are available, making it difficult to know which ones are best. Each has advantages and limitations, all of which can impact the overall gambling experience.

Below is a brief analysis of some of the best crypto wallets available to use can be found:

Coinbase

One of the most recognizable across the crypto industry, Coinbase offers a wallet that is user-friendly. It can be used on a mobile device, and is integrated with the Coinbase platform, making it easy for players to purchase crypto with fiat currency in one place.

Exodus

When security is a key component, Exodus can often be the stand-out choice for many crypto gamblers. This wallet allows for private keys to be stored locally, providing convenience and safety in one place. At the same time, it can be used across various devices and offers access to a built-in exchange.

Ledger Nano S/X

There are some crypto wallets that are available that come equipped with the top level of security. The Ledger Nano S/X is one of the very best. It features a number of strong features, including offline hosting for the private key. Like the others, it can be used across various devices and supports various cryptocurrencies, giving bettors a chance to pick and choose from those that the casino of their choice best supports.

Why is it important to pick the right crypto wallet?

As noted, not all crypto wallets can do the same thing. Some options available may not offer the right type or level of security required. Playing at a casino requires a high level of security, therefore it’s vital the right one is chosen.

The right crypto wallet can also enhance the experiences that are obtained. With deposits and withdrawals wanting to be as smooth and efficient as possible, having the right wallet can make this happen.

If you don’t have the right crypto wallet from the beginning, it’s likely you won’t have the best time at a casino.