When the subject of paying for online services, purchasing products, or gambling with cryptocurrency comes up, having a trusted crypto wallet is necessary. There are tons of crypto wallets available for users to choose from, and many of them boast of being the perfect alternative. However, this cannot be considered a fact, especially when picking the right crypto wallets for gambling. You need to carefully choose a wallet that guarantees coin safety, an open account, and no issues of anonymity.
Usually, there are two wallet types available to you. The first category of crypto wallets has to do with those that allow users to have direct and complete control over their digital currency. The second category of wallets allows third-party control over your digital currency assets.
Of course, both wallet types come with their unique pros and cons. However, it is more advisable for gamblers to opt for a wallet that lets them control their cryptocurrency.
Before signing up with the best online casino website, keep this in mind: Online wallets like Circle and Coinbase are based in the U.S. This automatically means that they are well regulated. Also, there is a great chance that your crypto account will be terminated if they discover that you have sent some funds to a gambling site.
Online gambling is a well-known legal grey area in many countries worldwide; thus, it is mostly recommended that you opt for a wallet without a KYC/AML procedure. Opting for such a wallet allows you to gamble anonymously.
There are 4 primary types of wallets – Desktop, Mobile, Hardware, and Web Wallets. All of the wallets we have listed below are perfect for online gambling as you control your cryptocurrency. No third-party will censor your transactions.
- MOBILE WALLETS
Mobile wallets provide users with many great benefits over their peers. Most mobile wallets come with a camera feature, which allows you to scan QR codes. This feature makes it relatively smooth for users to make deposits and withdrawals as no time is wasted writing or copying your crypto address.
Smartphone wallets are also safer as the possibility of getting a virus or a keylogger on your smartphone is much lower than on your PC or desktop computer.
- DESKTOP WALLETS
While desktop wallets are generally considered safe, malware attacks can occur if users do not carefully protect their computers. If you must use this for gambling, please do so with caution.
- WEB WALLETS
Web Wallets are quite popular. They can be accessed using any smart device. The user is treated like a king as web wallets can be accessible when and where you want.