Crypto Casinos - Guidelines & Tips

Do you want to know if you can use Coinbase to gamble online? Want to know if it’s safe to send funds from your Coinbase account to your Bitcoin wallet at a casino or online sportsbook? Then make sure you check out this guide in full - and see why we don't recommend Coinbase for online gambling transactions. An Introduction To Coinbase Coinbase is a US-based crypto exchange that’s become well-known for being the world’s largest and most user-friendly crypto exchange around. In fact, one the things that really helps to set Coinbase apart from the competition is the easy-to-navigate and user-friendly user-interface that greets you when you load up the website - and it’s designed to be used by complete newbies, so you don’t need any experience to get your Bitcoin address and begin trading digital currency. Founded in 2012, Coinbase was created by two entrepreneurs called Brian Armstrong and Fred Ehrsam. Today, they serve more than 100 different countries, and their workforce is made up of some 1,249 employees as of 2020. They’re also one of the only crypto exchanges to be a public company - and in 2021 they listed on the Nasdaq exchange via something called a direct listing. Coinbase allows users to trade a wide variety of different cryptocurrencies including Bitcoin, Litecoin, Ethereum, Bitcoin Cash and, more recently, Dogecoin. There’s also a separate version of their site called Coinbase Pro which is designed for use by more experienced traders. We’ll look more at Coinbase’s history later on in this guide. Creating a Coinbase Account If you want to create a Coinbase account for online gambling (but keep reading this guide before doing so) then we’re going to show you the steps of how to do so below: however, as you’ll soon see, you shouldn’t really use Coinbase for online gambling or sports betting - and we’ll show you why in just a moment. However, in the interests of impartiality, we will show you how to create a Coinbase account, below. Step 1 - Open A Coinbase Account The first step to setting up a Coinbase account is to head to their website and click the “Sign Up” button. Be warned that Coinbase typically requests a lot more information than most other sites where you’d be buying and selling Bitcoin and other cryptos - so it’s not a great place to buy digital currency if you don’t want to have to submit lots of information. In order to get started you’ll need to enter your email address, phone number and name. It’s important to take great care with your password; while you don’t get access to your private keys when using Coinbase - so you can technically recover your password - you don’t want to find yourself locked out of your account with lots of crypto locked up! Once you’ve entered your phone number and email address you’ll be prompted to enter information about you; this includes your date of birth, address and some quick financial questions. You’ll then have your account opened. Step 2 - Complete the KYC Check As Coinbase is regulated in the strictest financial markets in the world, you will need to pass a know your customer (kyc) check before you’re able to purchase any crypto currency or access your Bitcoin wallet. In order to pass this check you’ll typically need to upload a copy of your passport and prove your address. Like most crypto exchanges, Coinbase has a number of different verification levels; for example, once you complete the easy verification step you’ll see your Coinbase limits increased - but if you want to deposit or withdraw large sums of digital currency or fiat currency you will need to provide additional documentation. Once you submit your know your customer (kyc) documents the Coinbase customer support team aims to process them within 3 working days. This is quite a long time - especially when some crypto exchanges are able to instantly verify accounts today - so it’s yet another reason why we don’t recommend using Coinbase if you want to send money to your sportsbook account or online casino account. Step 3 - Link Your Bank Account Once your account is open and you’ve passed the know your customer (kyc) check it’s time to add a payment method to your account; if you’re using the Coinbase app we’d recommend heading to the desktop version of the website as it’s much easier to use for adding payment methods. Depending on where you live you can make deposits and withdrawals in a variety of ways at Coinbase. The easiest way is to use a bank account - but in some countries this can take a while, so using debit and credit cards to buy crypto may be more suitable. When it comes to withdrawing, you can withdraw to your bank account - or, in certain markets, Coinbase also allows you to use PayPal for withdrawals. However, due to the high rates of fraud it’s not currently possible to fund your Bitcoin Blockchain wallet using PayPal, although this may change in the future. Step 4 - Purchase Your Crypto Once you’ve funded your account - or the Coinbase app - then it’s time to purchase crypto. It’s super easy to buy cryptocurrencies at Coinbase, and you simply need to select which coin you’d like to buy, choose how much you’d like to spend and in a few seconds the order will be complete. Thankfully, Coinbase automatically handles the purchases, so you don’t need to worry about having to deal with any sellers. Once your transaction is complete the digital currency will be in your wallet right away - and you can then send your funds to an external wallet, although verification may be required for your first withdrawal to prove that it’s you using the account. Coinbase & Gambling: The Unfortunate Reality Here’s the reality of using a Coinbase account for online gambling; while Coinbase probably isn’t actively going out shutting down accounts of users who are sending funds to a gambling site, their terms and conditions do state a long list of prohibitions - and online gambling is one of them. Let’s take a look: “Unlawful Gambling: Lotteries; bidding fee auctions; sports forecasting or odds making; fantasy sports leagues with cash prizes; internet gaming; contests; sweepstakes; or games of chance that are not sanctioned by a governmental body or regulatory authority.” On the fact of it, that doesn’t sound too bad, does it? But then they have this clause: “Express written consent and approval from Coinbase must be obtained prior to using Coinbase Services for the following categories of business and/or use ("Conditional Uses"). Consent may be requested by contacting us at Coinbase may also require you to agree to additional conditions, make supplemental representations and warranties, complete enhanced on-boarding procedures, and operate subject to restrictions if you use Coinbase Services in connection with any of following businesses, activities, or practices: Money Services: Money transmitters, Digital Currency transmitters; currency or Digital Currency exchanges or dealers; gift cards; prepaid cards; sale of in-game currency unless the merchant is the operator of the virtual world; act as a payment intermediary or aggregator or otherwise resell any of the Coinbase Services Games of Skill: Games which are not defined as gambling under this Agreement or by law, but which require an entry fee and award a prize.” So, Coinbase are saying that you cannot use their platform to send digital currency to illegal online gambling sites - fair enough - but then they say you need prior written approval to send crypto to skill-based gambling sites. This means that legal online casinos aren’t really covered - and we have heard stories of Coinbase shutting the accounts of users who’ve been found to send crypto to online casinos. For this reason, we simply cannot recommend you use Coinbase if you want to send coins to online gambling sites. If you do, at the very least you should send the coins to another crypto wallet first - but even still it’s a risk, and Coinbase could shut your account at a moment’s notice, if they so choose. Top 10 Crypto Exchanges For Online Gambling With so many different crypto exchanges out there today it can be difficult to know which to choose and which to avoid. Add in the fact that you can’t use a Coinbase account if you want to deposit to an online sportsbook or casino, and things become even more complicated. Below, we’re going to take a look at the top crypto exchanges for online gambling - and all of these are a great alternative to setting up a Coinbase account, so let’s dig in and see what crypto exchanges are online gambling-friendly! Binance When it comes to crypto exchanges few names are as recognizable as Binance - and aside from Coinbase they’re probably the best-known crypto exchange in the world. However, where Binance trumps Coinbase is the selection of digital currencies they offer - and their offering is insanely big - they offer pretty much every coin and token on the planet, and this allows you to trade and invest pretty much any crypto you want. Binance allows you to fund your account in a number of different ways, and they support a huge range of fiat currency options. Some of the popular fiat currency options you’ll find includes GBP, EUR, USD and NZD. It’s easy to make deposits and withdrawals into and out of your Binance account, and we actually find the process to be much smoother than that you’d experience if you had a Coinbase account. It’s important to point out that Binance and Binance US are actually two completely different sites; this is due to regulatory differences, so if you’re located in the USA you’ll need to use the US-based version of the site. What’s more, recently, UK financial regulators ordered Binance to stop new UK users from signing up - whether this will change in the future remains to be seen. Binance is also one of the few crypto exchanges to offer a debit card like we’ve seen Coinbase doing. This means you can actually spend your digital currency using a regular debit card - and this can be a really useful payment method for those who’re planning on using crypto on a long-term basis. What’s more, it’s super easy to send money between Binance accounts. Naturally, Binance offers a mobile app which is available on all iOS and Android devices, and whether you’re buying Bitcoin, want to overcome the Coinbase limits or want a safe place to buy a huge range of digital currencies, Binance is a fantastic option; signing up takes just a couple of minutes and know your customer (kyc) checks aren’t required unless you want to buy crypto using a fiat-based payment method. Kraken Kraken, after Binance and Coinbase is probably the world’s best-known crypto exchange, and this US-based company is a global giant in the crypto sphere; they offer a huge selection of digital currencies, let you buy Bitcoin with your debit card and bank account, and their Bitcoin wallet is incredibly secure. They also allow you to send coins to an online sportsbook or online casino, and this means you don’t have to worry like you would if you were using Coinbase. What’s more, Kraken allows you to keep just one Bitcoin address so you don’t have to worry about the addresses changing. Unfortunately, Kraken does require users to undergo a know your customer (kyc) check before they’re able to use their bank account or debit and credit cards to buy Bitcoin into their Blockcahin wallet. However, the process is pretty fast and once you submit your documents Kraken’s customer support team aims to process them within just a few hours. Whether you’re buying or selling Bitcoins or other forms of a digital currency, Kraken is a great choice regardless of whether you’re new or old to the crypto world - and their ever-expanding range of digital currencies ensures that there’s always new investment opportunities for avid crypto traders to take advantage of. is one of the best-known names in the crypto exchange world, and they’ve been around since pretty much the beginning of digital currency - making them an excellent choice for those looking to buy and sell crypto. This Hong Kong-based crypto exchange only allows you to make trades through their mobile app however, so you won’t find yourself able to trade on a desktop version of their website. Signing up to is pretty easy, and it took us just two minutes to successfully open an account. Email verification and SMS confirmations are mandatory - and identity verification is mandatory for most people - especially when you start adding funds to your Blockchain wallet. Like most online wallets and crypto exchanges today, supports a wide variety of different digital currencies, and you’ll find yourself able to trade BTC, ETH, LTC, BCH and a few others. You can also find a lot of payment method options to choose from, so you can buy your digital currency using popular payment methods like debit and credit cards and EWallets. Unlike Coinbase support - which, in all honesty, sucks - has a customer support team that’s really on the ball, and they’re available 24 hours a day, 7 days a week to help out with any questions or problems you may have. Their mobile app is also really fast and responsive - and we don’t have any complaints in this department at all. What’s more, processes withdrawals really quickly, and their security protocols are also state-of-the-art - so whether you want to send Bitcoin, store your crypto or convert your holdings into a fiat currency - your digital currencies will be safe and secure at all times. CoinMetro CoinMetro is one of the smaller crypto exchanges, but don’t let its small size put you off; from what we’ve seen, this Estonian-based crypto exchange has a really solid reputation, and it’s a great alternative to opening a Coinbase account, directly rivalling some of the biggest names in the industry. Focusing mainly on the UK and European markets, CoinMetro provides a smooth and seamless sign-up process, and their platform is user-friendly, easy-to-navigate and reliable. The user-interface is clean and responsive, and they also have a downloadable mobile casino app which is available to iOS and Android users. Signing up takes just a couple of minutes, although when you add a payment method you’ll likely be asked to complete a know your customer (kyc) check. You can add funds to your CoinMetro account in a number of ways - including using debit and credit cards (provided you’re the account holder), by making a direct bank transfer and by wire transfer. The fees are pretty cheap when compared against other names on this list, and when it comes to crypto withdrawal fees CoinMetro charges just 0.15% - a rate that’s much lower than most crypto exchanges around today. Perhaps most importantly, however, is that CoinMetro are friendly when it comes to online gambling; they don’t mind you withdrawing your coins to betting sites, whether it’s sports betting or online casinos - and you’ll find yourself able to deposit Bitcoin at a sports betting site easily and quickly thanks to their super-fast withdrawals. KuCoin KuCoin is a relatively popular crypto exchange that’s based in the Seychelles, and one of the reasons why their crypto wallet has become so popular with players is the fact that KYC checks aren’t required in order for you to open up an account. They’re also friendly when it comes to Bitcoin deposits, and they’re happy for you to use your funds to play casino games. Their online wallets allow you to trade a number of different cryptocurrencies, although they do advertise themselves usually as being a Bitcoin exchange. When it comes to the ID checks, KuCoin actually has a really high daily withdrawal limit; users can send BTC to their preferred Bitcoin addresses - and you’re able to make Bitcoin transactions worth up to 2 BTC per day without needing to undergo identity verification. Like all Bitcoin exchanges, however, once you surpass this limit you will need to undergo additional verification checks. One of the main downsides to using KuCoin is the fees; you can expect to pay around 5% for Bitcoin deposits and other transactions made using a digital currency, and also worth noting is the fact that fiat currency withdrawals aren’t possible - so this is something to bear in mind. You also don’t have access to your private keys as KuCoin is a hot wallet - and this means security is slightly reduced. However, KuCoin is definitely one of the better crypto wallets you can hold - and if you’re planning to hold crypto assets, send money to a casino or other gambling site or want to transfer money to friends around the world - KuCoin is a great option. Their withdrawals are also really fast - when compared to a Coinbase wallet, anyway - and the high withdrawal limits, their friendly nature towards you playing at a sport betting site or casino means KuCoin is a great choice for you. Luno Luno is one of the newest crypto exchanges - and while they don’t offer a huge selection of coins, yet, they’re doing pretty well compared against many of the bigger crypto exchanges, and they’re proving pretty popular with players from what we can see. Luno is built entirely around simplicity - and everything from the way in which the user-interface is presented to the way in which you purchase your crypto is designed to be as hassle-free and easy as possible. At the time of writing, Luno allows you to buy, sell and trade Bitcoin, Litecoin, Ethereum and XRP; they state that they’re working hard to add compatibility for more cryptos in the future. One of the reasons why we really like Luno is because it’s really well-suited for those who are new to buying and selling cryptocurrencies. For example, when you first open your account you’re not actually able to send your coins; this may sound counterproductive, but it’s designed to ensure new customers don’t accidentally send their crypto to a scammer - so you have to manually choose to opt-in to being able to send crypto. It’s also worth pointing out that Luno is designed, mostly, for users with mobile devices. Their state-of-the-art mobile app is available for iOS and Android users and it’s insanely user-friendly; you simply log in and you can immediately see your portfolio and how much crypto you’re currently holding. What’s more, if you do want access to more state-of-the-art high-level tools then Luno also has a professional-level crypto exchange that offers the same kind of features you’d find were you to hold a Coinbase account, for example. LocalBitcoins LocalBitcoins is one of the most well-known ways to buy and sell Bitcoin - although it’s only Bitcoin they currently support, so if you’re looking to trade other cryptocurrencies you’ll need to find another site. LocalBitcoins isn’t a crypto exchange either; instead it’s a peer-to-peer marketplace where you buy and sell crypto with other users. LocalBitcoins is based in Helsinki, Finland, and is regulated by a number of different financial regulators - so your funds are in pretty safe hands when you play there. LocalBitcoins is easy to join, although you do need to upload some verification documents before you’ll be able to trade; there’s different levels of verification required, although you’ll only need to verify your email address and phone number to begin trading. Once you’ve registered an account at LocalBitcoins you simply need to find a trade you like the look of and open up a trade request. The seller will then message you with any further information they need from you - and once they’ve accepted the trade you’ll be able to agree on the payment terms and conditions. Unlike many other crypto exchanges you pay the vendor directly; for example, if you choose to pay from your bank account you’ll pay the seller directly into their bank account. While you do so the crypto is placed into escrow, so you don’t have to worry about the seller simply running off with your cash. Once the trade has completed then the coins will be available in your LocalBitcoins account wallet - and you can then send them to the Bitcoin address you want. LocalBitcoins is a good alternative to some of the bigger crypto exchanges, and they’ve been around for a long time - so they have a very strong reputation behind them. Ramp Ramp is one of the newest ways for you to purchase crypto - and while it’s not particularly well-known, yet, it’s one of our personal favourites as it offers one of the fastest methods for you to buy crypto and send it to the Bitcoin address at the online casino of your choice. At the time of writing, Ramp allows users to buy a number of different cryptos including Bitcoin, Ethereum and Litecoin - and it offers huge coverage, accepting users from all of Europe, North & South America and much of Asia. The beauty of Ramp is that you don’t need to create an account; instead, you simply choose how much crypto you’d like to buy, enter your Bitcoin address you’d like the coins sent to and you then fill in a bit of personal information. Ramp then uses powerful state-of-the-art ID verification technology to verify your ID - and this usually takes just a couple of minutes, so, unlike with many other crypto exchanges you don’t have to wait hours or days for your ID to be fully verified. Ramp also allows you to use a wide variety of different payment methods to buy Bitcoin; for example, you’ll find yourself able to use all major debit and credit cards like VISA and MasterCard, but they also let you transfer directly from your bank account and they’ve recently added support for Google Pay and Apple Pay. Like you’d find with players’ Coinbase accounts, Ramp has really high limits too - and you can buy up to $20,000 worth of crypto each month; any amount higher than this and you’ll need to provide further ID copies and possibly copies of your bank statements too. Gemini Gemini is one of the most secure crypto exchanges to buy and sell crypto - and the company is licensed in New York making them a very safe bet for those who want to use an exchange that’s held to very high standards. Notably, Gemini only allows users to buy and sell Bitcoin and Ethereum; at the time of writing they don’t yet offer any other cryptocurrencies. One of the things that we really like about Gemini - especially when compared to players who, for example, have a Coinbase account - is the fact that Gemini provides you with a ton of tools. These tools are designed to be used by beginners and active traders, and they help you do everything from understand crypto jargon to managing your trading strategies. Coupled with their very user-friendly interface, Gemini is an excellent choice for those looking to start buying crypto - and it’s very secure. In fact, we also noticed while writing this guide that Gemini offers users the chance to secure their account with a hardware security key - and this allows you to add even more security measures to your account! Bitstamp Bitstamp is another of the world’s longest-running crypto exchanges, and it was first established way back in 2011. This Luxembourg-based company offers a wide variety of services and coins/tokens to its users, and you’ll find yourself also able to trade and move fiat currencies including GBP, USD and EUR. In terms of cryptocurrencies, Bitstamp offers all of the major coins like ETH, BTC, BCH, XLM, LTC and XRP, and they’re regularly adding new coins to their website so there’s plenty of choice for you to invest and purchase the coins you want. Unlike the Coinbase platform which actively restricts online gambling transactions from being made, Bitstamp appears to have a fairly neutral view when it comes to online gambling. While they don’t specify that they support it, they don’t say anything about restricting user accounts who participate in it - and this has led to them becomming a good choice for those who’re looking to buy and sell cryptocurrencies on online gambling platforms. Bitstamp is really easy-to-use, and their website is user-friendly; it takes just a couple of minutes to set up an account and get started, and the major benefit of their location is that unless you’re from the UK you don’t necessarily have to undergo lengthy know your customer (kyc) checks and ID verifications. Bitstamp also has a free mobile app which can be downloaded by those on iOS and Android devices; this allows you to buy and sell your favourite cryptos from your mobile devices without having to manually log onto the desktop version of the website! What To Look For When Choosing a Crypto Exchange While many people think that all crypto exchanges are the same, there’s actually a lot of differences between them all - and that’s why, below, we’re going to be taking a look at some of the key factors to look at when choosing a crypto exchange - starting off with a view on security. Security Of course, one of the first things that you need to take into account before settling on a crypto exchange is the security of the site; this is one of the reasons why we so strongly recommend you to use a major crypto exchange as opposed to a small, new one; the larger sites have a lot more money that they can use to invest in their state-of-the-art security systems and this means that your coins are a lot less likely to be stolen or hacked. Rest assured that if you choose to use one of the crypto exchanges listed here on this page you’ll be dealing with a site that’s reputable, secure and safe - and you won’t have to worry about your crypto. Exchange & Transaction Fees This is something that the vast majority of those who are new to crypto online gambling don’t really need to worry too much about - but if you’re planning to sell Bitcoin or trade large quantities, then it’s something you might want to take into account - and it can be quite an important factor when choosing on a new exchange to try out. For example, some crypto exchanges will charge you a fee every time you make a transaction; after all they are businesses that have to make money. Some crypto exchanges will also charge you a fee each time you convert crypto; for example, if you sell Bitcoin and buy Ethereum you may pay a fee to do so. When you’re making a lot of transactions - especially if they’re high-value transactions - these fees can add up quite quickly so it’s worth being mindful of this. You should always ensure that you’re aware of the fees before settling on a specific crypto exchange as they can have a large impact on your profits over the long-run. Fiat Deposit & Withdrawal Methods While it’s all well and good having an exchange that offers a wide variety of cryptocurrencies and allows you to initiate transactions with a customizable fee, you have to fund your account in the first place to actually buy crypto - and this is why it’s important to see which fiat currencies they accept and how you can make deposits and withdrawals into and out of your crypto exchange account. For example, almost all crypto exchanges allow you to link your bank account; in the UK, for example, you can even link your bank account through Faster Payments which means deposits and withdrawals are processed instantly. However, there’s also many players who like to use a credit or debit card to buy crypto - and if that’s you then it’s important to find a crypto exchange that allows you to use your credit or debit card. Please note that if you find crypto exchanges offering you the chance to buy using your credit or debit card you’ll almost always have to undergo additional verification checks. This is to help prevent fraud and ensure that you are who you say you are. All of the major crypto exchanges we’ve listed here on this page allow you to buy Bitcoin and other cryptos using your credit or debit card - and many offer a number of other payment methods too, like PayPal, Skrill and even cash! Supported Cryptocurrencies Today you’ll find yourself able to play with more cryptocurrencies than ever before - and with more online poker gambling sites and casinos opening up to an even wider array of cryptos, this demand is unlikely to change in the near future. That’s why, when considering a new crypto crypto exchange it’s important to look at the different types of coins and tokens on offer. For example, all major crypto exchanges offer the mainstream cryptos like Bitcoin, Bitcoin Cash, Litecoin and Etherum - but it can be harder to find some of the smaller coins like Monero, Ripple (XRP) and Dogecoin. Thankfully, crypto exchanges are usually very vocal about which cryptos they offer long before you sign-up - and a quick glance at their homepage should show you all you need to know. As always, if in doubt be sure to check out the FAQ pages or reach out to the customer support team if you have questions or queries about specific coins or tokens that you don’t see listed on the site. Customer Support Regardless of whether you’re looking to purchase crypto to use at a gambling site once a month or every day, there’s a chance you will, in future, run into problems or have questions - and if that’s the case then it’s always refreshing to have a customer support team on hand to help you our and ensure that any issues you do have are taken care of quickly and promptly. Just like were you looking for an online casino to try out and you review the customer support facilities on offer, checking that there’s a good customer support team on-hand at a crypto exchange is really important - and ideally you want this customer support team to be working 24 hours a day, 7 days a week so you can get help and support no matter what time of day or night you’re purchasing. Of course, with today’s state-of-the-art technology it’s pretty rare for things to go wrong when buying and selling crypto, but it’s still nice to know that the option to get help is there - and if the exchange offers live chat support that’s even better in our eyes. Advantages of Crypto Gambling Sites In the last few years it’s become evident that online gambling sites and crypto go hand in hand - and today, more players than ever before are choosing to play at crypto casinos for a number of reasons. Arguably the biggest benefit of using an exchange to buy crypto to send to gambling sites is the fact that you don’t need to rely on regular banks and debit and credit cards. For example, many debit and credit cards block online gambling transactions - and if you’re doing things like applying for a mortgage, it can actually be pretty tough if your bank account is spread with tons of online gambling transactions. It also offers a lot more privacy and security when compared to conventional payment methods. For example, when you’re using crypto exchange - while you do need to provide documentation to the exchanges themselves - you don’t then need to go ahead and enter your debit and credit card details in order to make your deposits and withdrawals, and this means you’re a lot more protected financially. Crypto exchanges also offer a huge variety of cryptocurrency options - especially when compared to many P2P marketplaces and other sites that sell crypto. For example, when you join an exchange you’ll find yourself able to buy and sell many other cryptos like Litecoin, Bitcoin Cash, Ethereum, Dogecoin and Ripple - and this means you can use the cryptocurrency of your choice. Disadvantages of Crypto Online Casino Sites While most crypto exchanges are far less restrictive - and intrusive - then typical highstreet banks and other financial institutions, things are a lot different than they were a few years ago - and today there’s a lot more regulation than in the past. In order to continue offering financial services to customers, exchanges now need to follow a number of rules and regulations, all of which are designed to ensure there’s no money laundering and to prevent fraud. In fact, regulators are continually coming up with new rules for exchanges - and like an online casino or online poker site, these regulations mean the exchanges don’t actually have too much say over the rules they are now forced to impose. Alongside this, there’s a few other disadvantages to using exchanges - and the first is the fact that they’re simply not decentralized. For example, while crypto transactions themselves to and from a gambling site are decentralized, if you choose to purchase your coins on an exchange your coins will be kept on a centralized platform; this means the site holds full control over your coins, and this is something that’s fundamentally against the principles of Bitcoin and other cryptos. Another major disadvantage - especially for those located in the UK, Europe and the USA - is that you’re likely going to have to undergo quite a few know your customer (kyc) checks and provide proof of your ID. Unfortunately, there’s nothing you or the exchanges can do about this; it’s a part of their licensing terms, and you may well find that you need to supply quite a few documents when you first sign-up and join a crypto exchange. You may also find that you’re asked to further verify your transactions in cases where the exchange deems you to be sending coins to a ‘risky’ wallet address - and if you want to buy Bitcoin and other digital currencies using debit and credit cards you’re likely going to need to undergo further ID checks. There’s also quite a few restrictions on online gambling when it comes to exchange - and, as we’ve seen in this article, some of the main crypto exchanges will suspend or close your account if they find that you’ve been making deposits and withdrawals to an online gambling site. However, on the whole crypto exchanges are generally still the easiest way of purchasing your crypto - it’s just important that you choose the right sites and don’t skip any corners. Coinbase - a Brief History While we strongly recommend that you don’t use Coinbase if you want to send money to sports betting sites or casinos, we will take you through a brief history of the casino - and it’s quite an interesting story. The crypto exchange was first founded back in June 2012 by a former AirBnb engineer called Brian Armstrong. After showing strong promise, Coinbase received $150,000 in initial funding - and Fred Ehrasm joined a while later as a co-founder. A small team was then created who helped to develop and code the site as well as determine how crypto should be traded on their website. Coinbase was quick to see success, and in 2013 they secured $5 million in funding from Union Square Ventures; later on they received another $25 million in funding, and just one year later the site had over one million active users. Things continued to move in the right direction for Coinbase, and in 2015 they received a whopping $75 million investment - and soon after Coinbase launched their Coinbase Exchange, a more professional tool designed for advanced traders. The same year Coinbase started to offer their services to Canadian users, and they started to acquire licenses to offer other cryptos like Ethereum, too. Since then, Coinbase has gone from strength to strength, and they now operate in more than 100 counties around the world; India, for example, is one of their largest emerging markets, and they’ve also started to target Southeast Asian countries. FAQs How do you get a Bitcoin wallet? Whenever you open an account with a crypto exchange you’ll automatically be generated a Bitcoin wallet. Usually, this wallet address stays the same, so your wallet address is unique to you and you only. You can also download software that generates Bitcoin wallet addresses for you - but these generally aren’t needed for those simply wanting to purchase crypto for use at online gambling sites. How can I add funds to a crypto exchange? Adding funds to crypto exchanges is usually pretty easy and straightforward - and most of the major crypto exchanges offer you a wide variety of payment methods to use. For example, almost all sites let you buy crypto using debit and credit cards, and most will also let you fund your account using a bank transfer. Some sites may also choose to offer other payment methods like PayPal or Skrill - but these are harder to come across as they’re seen as being associated with fraud more commonly. Why shouldn’t I use Coinbase for online gambling? The main reason why we don’t recommend that you use Coinbase for online gambling transactions is the fact that their terms and conditions are quite ambiguous when it comes to stating whether or not it’s allowed. If you head up to the top of this page you’ll see that it’s a bit of a grey area - but we have heard of player’s accounts getting shut for online gambling transactions, so for this reason alone we simply can’t recommend our readers use Coinbase. Is Coinbase good for non-gambling transactions? Yes! In fact, Coinbase is probably our top pick when it comes to crypto exchanges - provided you’re not planning on using the site for online gambling transactions. Coinbase is incredibly easy-to-use, user-friendly and easy-to-navigate - and their state-of-the-art software is designed to make buying, selling and trading crypto as easy as possible. We also really like the Coinbase mobile app which is incredibly easy-to-use and user-friendly too - and it’s literally possible to buy your favourite cryptos at the press of a button, opening the crypto world up to everyone! How can I withdraw money from a crypto exchange? Withdrawing money from crypto exchanges is pretty easy - although the exact methods available depends largely on which site you’re using. For example, almost all crypto exchanges allow you to make withdrawals directly to your bank account via bank wire - but some also process withdrawals to debit and credit cards too. Some even allow you to withdraw to EWallets like PayPal and Skrill - but these payment methods are harder to come across due to higher levels of fraud. What different cryptocurrencies are there? Today there are more cryptocurrencies than ever before - and long gone are the days when it was just Bitcoin, Litecoin and Etherem dominating the marketplace. In fact, there’s now thousands of coins - with everything from meme coins like Dogecoin to coins based on TV shows like Squid Game! However, you should be aware that a wide variety of small, new coins are worthless pump and dump schemes - and generally speaking, unless you have reputable information, you should stay away from new coins - especially if you see things that seem too good to be true. What is the best crypto exchange? As with any question like this, the best crypto exchange is quite a subjective question - and what may be suitable for you may not be suitable for other players. However, if you read this guide in full you’ll see that we’ve listed ten of our top picks - all of which are gambling-friendly sites. Unfortunately, while Coinbase is an excellent site for buying and selling crypto, we don’t recommend you use them for online gambling transactions. This is because their terms and conditions state that they may user accounts if they suspect that they’re being used to send crypto to online gambling sites - so check out the recommendations earlier on in this guide and join one of those sites instead. Do I need to do a know your customer (kyc) check to use a crypto exchange? This depends entirely on the crypto exchange you chose to join - and what you actually do at the crypto exchange. For example, some crypto exchanges like BInance will let you create an account and sign-up without needing to complete a know your customer (kyc) check - but this only applies to when you’re sending crypto from other wallets. If you want to buy crypto using debit and credit cards or other payment methods then you will need to undergo a know your customer (kyc) check. Other crypto exchanges will require new users to undergo a know your customer (kyc) check regardless of what they plan to do at the site. On this page you’ll find a few sites - such as Binance - that don’t require you to complete a know your customer (kyc) check to get started, but generally speaking it’s better to upload your documents anyway as it will help to prevent problems later down the line. Can I make money with crypto? As with any type of investment - and yes, that’s what crypto really is, after all - you should never go into it expecting to make money. Cryptocurrencies can be incredibly volatile - and we’ve seen certain coins and tokens lose as much as 30% of their value in a single day! However, it is possible to make money with Bitcoin and other cryptocurrencies, yes - and that’s thanks to the growing popularity of cryptocurrencies in general. Over the past few years, crypto has gone from being something that only tech-savvy people could really understand into a mainstream thing - and as a result of this the price of many coins has been steadily increasing. Some are using this growth as a chance to invest - and it’s true that many people have made very large sums of money by ‘buying the dips’ - but you should always exercise caution when trading crypto as it really is volatile and you never know what’s going to happen next in the markets. Is Bitcoin anonymous? Bitcoin was initially created for a number of reasons - and one of these reasons was to allow users all around the world to make financial transactions in a more anonymous manner. While it’s true that Bitcoin and other cryptos do offer users a high degree of privacy, it’s not quite as anonymous as many people think - and if you want to keep your privacy while using cryptos, you should take a few additional steps. For example, it’s all well and good sending crypto on the Blockchain which can’t really be tracked to you - provided you don’t have a digital footprint of where the coins came from. However, if you join crypto exchanges to buy the coins and sumit ID documents - then it is possible to trace transactions back to you - so if you’re really serious about keeping your financial transactions completely private you should acquire your crypto using sites that don’t complete know your customer (kyc) checks or by buying in person. What happens if I send Bitcoins to the wrong address? Unfortunately, one of the main disadvantages of Bitcoin and other cryptocurrencies is the fact that if you send coins to the wrong wallet or address there’s virtually no chance of you being able to receive the coins back. Any coins you send to a wrong address continue to remain in the Blockchain - but there’s no way for anyone to recover them, unless they hold the private keys. This is one of the key reasons why it’s so important for you to double check all your Bitcoin addresses when you’re sending coins to sports betting sites or casinos. We advise you to send a small amount first to check you’ve got the correct address before sending your main deposit.
Hi guys :) You’ve almost certainly heard about cryptocurrencies – but do you know how they work? Sure, Bitcoin is a hot topic – but how does someone spend digital money that was created seemingly out of thin air? Here, we break it down for you so that you can understand this trend and start taking advantage of it sooner than later. Cryptocurrency was created in 2009. A mysterious individual under the moniker Satoshi Nakamoto created a decentralized method of transferring money digitally. What makes it so convenient is the fact that it lets you send money to the recipient in the snap of a finger through the use of blockchains. Different cryptocurrencies Nowadays, cryptocurrency has steadily been growing as a reliable currency and there are apps and online sites where you can use crypto coins as payment. You can use crypto to invest in projects, donate to charities, buy items online, play in online casinos, and more like fiat money. Here are examples of cryptocurrencies commonly used worldwide: 1. Bitcoin – BTC Bitcoin is considered to be one of the most popular cryptocurrencies to use around the world. Due to its popularity, its value has grown high ever since 2009 and even major companies worldwide use it. Blockchains are used in bitcoin transactions. These blockchains hold the information needed for the users to successfully transfer their bitcoins. From bitcoin’s stable system, this was the start of crypto coins. 2. Etherum – ETH With Etherum it’s conventional because of its unique feature of smart contracts. Smart contracts are digital contracts between the seller and buyer to ensure the conditions for their transaction. No paperwork is needed for ownership and there is no third party to deal with when it comes to handling the transaction. 3. Litecoin – LTC Like Bitcoin, Litecoin can verify transactions through its blockchain, public ledger, and miners. It can process transactions between users faster by 2.5 minutes. This is pretty fast compared to Bitcoin’s 10 minutes. Another way it is similar to bitcoin is that there is no need for a bank or payment processing service for the transaction to be valid. 4. Ripple – XRP From all the recent cryptocurrencies,Old URLis rising fast in the crypto game because of its fast transactions. Compared to other cryptocurrency coins, XRP takes 4 seconds to process the transaction. It can handle 1,500 transactions per second and it’s even possible for it to reach up to 50,000 transactions per second! 5. TRON – TRX Recently in 2017, TRON was created as a blockchain-based decentralized application (DApp), which means it can also make quick transactions between the buyer and the content creator. This application is mostly used in the entertainment industry because it lets the content creator be paid in full and there are no additional charges for its consumer. 6. Tether – USDT One of the most sought after and purchased stablecoins in the market right now is Tether. Also known as USDT, Tether was created to give more traction in cryptocurrency investments. Every Tether coin is pegged after $1, meaning there’s a 1:1 ratio in every Tether conversion you make. It offers more protection from the sudden fluctuations in the market. Want to know even more about the crypto world? Great :) Stay tuned as we have plenty of more educational material to share with you. Cheers, Karl Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
Hi there :) As promised, here is the Part II of Libra cryptocurrency. Let’s dig right in. (Part I can be found here). How is Libra similar or different from other cryptocurrencies? Cryptocurrency by definition is a decentralised digital coin that isn’t governed by any central authority, for example, banks and governments. Each transaction is added to a block and listed in the blockchain. Unlike banks where there are headquarters and a governing administrative body, cryptocurrency draws strength from its decentralisation. As a counterpart to the faulty traditional banking system, the blockchain gives power and control back to the people. With low transaction fees, fast time, and transparency as its main marketing points, digital coins garnered and still continues to draw a huge following over the years. Libra as a stablecoin The prices of most Old URL in the market today are produced by the supply and demand law in economics. Stablecoin is backed by the Libra Reserve which is a basket composed of the world’s biggest currencies such as the US dollar, Euro, Japanese yen, Pound sterling, and Singapore dollar. It’s also composed of low-volatility assets such as bank deposits and government bonds. This serves as Libra’s store of value that will protect the coin’s price from high volatility. What you can expect from this is Libra’s price will be much more stable than other digital coins. Making Libra a stablecoin also paves the way for widespread mainstream adoption. Without the risk of prices dropping, people can rest assured that the price of their coin won’t change because it doesn’t rely on supply and demand. Stablecoins are considered an in-between of cryptocurrency and fiat currency. It retains the stability of fiat currency while utilizing the decentralised nature of cryptocurrencies. With Facebook’s large user-base, Libra is expected to contribute to the mainstream adoption of digital currencies. Additionally, Libra being a stablecoin poses as a reassuring point to people who are sceptical about cryptocurrencies. Libra’s vision Libra is designed for day-to-day use by everyone. At its core, Libra’s vision is to provide financial services to the billions of people around the world who don’t have access to traditional banking. Winning over the unbanked, Libra is focused on helping the 1.7 billion people around the world who are vulnerable in terms of security and mobility. How can we use Libra? To provide a space where Libra transactions can be securely made, Facebook has created a digital wallet subsidiary called ‘Calibra’. It also serves as a cross-currency exchange platform where you can convert your US dollars into Libra. When creating your Calibra account, you’ll need to provide a government-issued ID to ensure the legitimacy of your account. This serves as a precautionary measure against fraudulent attacks on financial apps. Can you buy Libra coins now? Not just yet! Facebook announced their Libra project in June 2019, and plan to have it launched by late 2020. So currently, Libra is not yet operational and there are no Libra coins available for sale or conversion. The Association is still working to develop and improve the Libra network and its global payment system. How much is Libra? Right now, Libra does not have a price since it’s not launched yet. The Libra Reserve has ensured once the network goes live, the Libra cryptocurrency price won’t be subject to fluctuations seen on typical crypto markets since it will be backed by fiat currencies. Concerns about Libra and Facebook Since the announcement of Libra, numerous governments and regulators have voiced their concerns over Facebook’s venture into the financial system. The US government has called David Marcus, the co-creator and board member of Libra, to testify before the Senate and answer inquiries about the digital asset. Global regulators have also been vocal in their demand for more information regarding the privacy implications of Libra. With Facebook’s track record in security and privacy, it’s no wonder the authorities are worried about private financial information being leaked to corporations who can benefit from this. But more than that, many regulators are worried that with Facebook’s billions of users around the globe, Libra’s massive adoption can cause the deflation of the US dollar. These are claims that Facebook and the Libra Association have debunked again and again. Facebook CEO Mark Zuckerberg said his company is willing to wait however long it takes for lawmakers to be convinced that Libra should be launched. The COO of the Libra Association, Bertrand Perez, remains unfazed by the criticism and says the project does not pose a threat to monetary stability. Zuckerberg retaliates because Libra can bring accessible financial services to unbanked individuals around the world. There were also concerns about the Libra Association and its members. Senators have pressured big-time payment companies to reconsider their membership in the Association. While a number of members have withdrawn their membership, there are still companies and organizations that believe in Libra’s vision of bringing financial services to the world’s unbanked population. Despite a tirade of criticism and attack towards Libra from governments and central banks across the world, more and more companies are joining the Libra Association. Heifer International, a global non-profit organization,, a payments processor company, Singapore state-owned Temasek and San Francisco-based Paradigm and Slow Ventures are the Association’s latest members, bringing its total membership to 27. This goes to show that support for Libra remains strong despite its complicated relationship with the authorities. What’s next for Libra? Facebook CEO Mark Zuckerberg and David Marcus have made it clear in their senate hearings that they are going to comply with regulatory laws to ensure Libra won’t break any rules. As an answer to Libra’s so-called attack on monetary sovereignty, the Libra Association altered the project’s white paper to appease global regulators. Instead of multiple currencies backing every Libra coin, each coin will now be backed only by a single currency. For example, one libra coin can only be tied to the US dollar and another coin to the euro, etc. They still want to issue a stablecoin backed by multiple currencies, but rather than being pegged to different fiat currencies, their multi-currency coin will now be backed by a series of new stablecoins. Amidst the attacks, Libra Association remains steadfast in its goal of launching this year. They have not mentioned any specific date for the launch since Zuckerberg specifically said that they’ll have to make sure that the project is accepted by global regulators before it becomes officially live. Again and again, Libra spokespersons insist that the Libra network’s vision is to complement fiat currencies rather than compete with them. What’s next for the Libra cryptocurrency project may be a little unclear, but one thing is for sure, Libra will not back down until its vision comes to life. ***************************************************************************************** Thanks for reading and if you have any questions feel free to send me a PM or comment in the thread. Cheers Karl
How are you guys? If you have been thinking about trying to have some fun in crypto casinos but still hesitate, I have a few ideas for you to follow. There are no shortcuts to gambling success, of course, whether that involves staking with crypto or cold, hard fiat, but there are some simple tips that you can follow that will at least manage your bankroll effectively and give you the best possible chance of succeeding :thumbsup:. Tip 1: Learn the ropes If you are a complete newcomer to online gambling with cryptocurrencies, then it is essential that you take the time to get to know the various games before you dip into your BTC stash and play for real. You may even have frequented a casino or two in your time, but we would still recommend making the effort to learn the basic mechanics of the various crypto games before taking the plunge. The rules are the same, but the gameplay tends to be different, and with so much going on, it can get quite discombobulating (yes, that is a word). There are versions of roulette, blackjack and the like that you may never have played before, and yet in time, you find that you have some kind of edge that makes you a successful player. One of the benefits of playing at Bitcasino is that you can try all of our games for free before you part with any of your crypto wallet. There is no better way to get up to speed with the unique machinations of crypto gambling than this sort of “try before you buy” approach. Tip 2: Manage your risk Like the value of the currencies themselves, bitcoin gambling is by its very nature a volatile pastime where your wallet’s contents are at stake. An appreciation of the risk, and how to manage it, is key. One of the old adages about crypto trading is that you should “never invest more than you are willing to lose”, and this rings true for crypto gambling as well. By only depositing funds that you can afford to lose – because it’s a possibility that you might embark on a losing streak, let’s face it – you can at least minimise the risk to your bankroll. As you are probably aware, an online bitcoin casino has a “house edge” that varies from game to game, and this dictates that in the long run, you will theoretically lose money – it’s an unavoidable fact. However, that’s not to say that you won’t “win” in a particular session or two, and that’s where applying sensible tactics in your bitcoin roulette gaming – and adopting basic baccarat strategies – gives you the best possible chance of success. Managing your risk at the crypto casino is key to a long and successful run at the tables. Tip 3: Know your enemy You might think that when playing bitcoin slots, the basic concept is simple: you select your stake size, hit the spin button, and hope for the best. There’s an element of truth to that, of course, but in reality, there’s a lot more going on with these online slot games than you might otherwise think. Powered by a complex algorithm, each slot has a Return to Player (RTP) rate built into it, and it is this that enables players to play in exactly the kind of environment they want. Low-RTP slots are highly volatile games where players can expect not to win all that often, but when you do manage to secure a winning spin, the payout tends to be a lot higher. These are considered low-return games because there’s no consistency to the wins, but when they do come along, they tend to be worth the wait. In contrast, high-RTP slots are those where wins are far more commonplace, but the downside is that they tend to lack the scale of the payouts on offer in high-volatility games. However, the beauty of this contrast is that it allows players complete freedom to play the bitcoin slots that reflect their attitude to risk and reward. We offer full technical specs of each of our slots, so you can find out whether they are high or low RTP before you start spinning the reels. Tip 4: Be disciplined Knowing how to play bitcoin poker and other casino games is one thing, but knowing when to play them is quite another altogether. There are times in life when our decision-making skills are impaired. We may be tired after a long week in the office, we might be sad or angry after an argument with a loved one, or we may be feeling worse for wear after enjoying an alcoholic beverage or two. These are scenarios in which you should put down the laptop, phone or tablet and walk away – crypto gambling in these moods is never a good idea, as our basic cognitive skills in managing risk and staking sensibly are impaired. Of course, there’s the “bad beat” scenario too. You may be playing bitcoin blackjack, roulette or any other casino games and suffer a tough loss to take courtesy of the dealer – you know the ones. Guess what happens when you suffer a bad beat? Once again, logic gets thrown out of the window and rationality is impaired, and many players will stake more on their next turn or go all-in. Knowing when you have lost control is crucial to long-term successful gambling. One session of madness can bring your bankroll to its knees, so if you find yourself in a situation where your discipline has gone, then step away from the casino until you are back on a level plain. We are keen advocates of a safe and responsible gaming environment, and we want all of our players to have the best chance of enjoying cryptocurrency casinoOld URLgames at their own leisure. Follow the tips outlined here and you won’t go far wrong. Cheers :) Karl Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
Hi guys :) Today I would like to tell you about some dice games you can play with cryptocurrencies. Aside from slot machines, dice games are popular pastimes that people have loved to play throughout the years. Gambling experts and enthusiasts alike continue to enjoy these games on digital platforms. To make the most of the journey ahead, you’ll need to equip yourself with some sure fire strategies to help boost your gameplay. Get to know the best crypto dice games and their winning strategies in this guide. All you need to know about crypto dice games With uncomplicated rules and a whole host of different variations to pick and choose from, crypto dice games are starting to bring in the future of online gaming. What makes them stand out? These games may have differences in terms of how you play it, but variations generally follow a standard set of rules in playing crypto dice games. Therefore, you can still expect to easily pick up any crypto dice games you want and get a chance to win massive amounts of payouts. How to play crypto dice games You'll have to remember the following set of basic rules to get you started: Select the minimum and/or maximum bet value of the game you are playing. Decide on the number that you are going to bet on. Choose whether you want to roll over or roll under. This means what number you have to roll over or under based on what you picked to win. Select the ‘Roll the Dice’ button to start the round. The game will do the rest automatically. A random number generator (RNG) will supply the winning numbers. If you win, you will get the calculated payout. If you lose, you get nothing. Knowing the basics of crypto dice games will help you decide on how you would like to bet. If you know the objective of the game, it will be easy to predict the outcome of the roll. Understanding these basics will also give you ideas about the Bitcoin dice strategy that will be useful during the gameplay. You can even form your own crypto dice strategy. Crypto dice strategy guide Strategy on alternating patterns Look for any pattern in the gameplay. They usually come in sets of 3, for example, you roll under 50, then over 50 and under again. There’s a good chance that this pattern will end soon. Martingale crypto dice strategy Increase the amount you bet in stages when you are on a losing streak. As such, when you finally win a bet, the payout from the bet covers the losses incurred from the previous losing streak. For example, you lose a 5 mBTC bet to roll under 50. If you lose once more, wager a 10 mBTC bet to roll under 50. If you take a loss again, bet 15 mBTC to roll under 50. This pattern is repeated until you correctly predict a roll. Break-Even Martingale strategy Similar to the standard Martingale crypto dice strategy, the break-even Martingale can help you hold out against a losing streak for a longer period of time. It staggers the staking process, slowing the rate at which stakes are increased. For example, you lose a 5 mBTC bet to roll under 50. Instead of increasing your bet on the next round, you bet 5 mBTC again. If you lose once more, bet the same amount again. If the second bet loses, you then increase the bet to 10 mBTC. Paroli Bitcoin dice strategy The purpose here is to take advantage of winning streaks, allowing you to minimise losses and capitalise on winning streaks. To do this you’ll need to decide on the base stake. Then, after each win, you will double your bet. After three progressive wins, you will cease to raise your stake and wager only your base stake after a loss. Best crypto dice games you can play Want to focus on learning how to use a Bitcoin dice strategy in one of the best crypto dice games on the market today? Here are our picks: Old URL Provider: Evolution RTP: 99.17% The aim of Evolution's Craps is to predict the outcome of the roll of two dice. Craps is actually quite a simple game that moves in different stages. The first stage is the Come Out roll, the first roll of the dice. The second stage is the Point roll. In Craps some bets are resolved after one roll while other bets can last several rolls before they are resolved which makes the game more entertaining. The user interface in both Craps and First Person Craps will guide you in what bets you can place, and even show potential winnings for your bets. You can also place bets by choosing all available bet spots for a specific total of the dice. But there is no loss of excitement! You will constantly be updated on how the other players are playing – and how many of you are rooting for the same number. The game will be attractive to both experienced and novice players. Playing our live Craps is a great opportunity to learn the game in a more controlled environment. Old URL Provider: OneTouch RTP: 97.22% If you’re someone who wants a fast-paced dice game where you can rack up wins quickly, OneTouch’s Sic BoOld URLis for you! It’s a highly entertaining dice game that offers a lot of betting options and a chance to win as much as 50 times your wager on every roll! Sic Bo is played using three dice. Using chips with denominations between 1 and 100, it provides you with an option to place your bets on many outcomes at the same time, so every roll can win in multiple ways. This crypto dice game has a layout that is extremely simple and easy to navigate. The red accents nicely complement the green background of the game, drawing from its Asian roots for its unique aesthetic. Old URL Provider: Evolution RTP: 96.03% Lightning Dice is an easy yet deeply engaging crypto dice game that also offers random multipliers of up to 1,000 times your stake! Its allure also comes from its live table game style, allowing you to interact with various elements in the game. It also features a superb User Interface to go with its stunning black and gold Art Deco aesthetic. You will also be greeted by a charming game presenter who you can communicate with throughout the gameplay for a more interactive experience. Get a clearer look on the result of each round with the help of camera close-ups. This feature lets you follow the dice as they tumble down through the tower’s maze-like section and come to a stop at the base. You only have to bet on what the total of the three dice will be when they draw to a stop at the base of the tower. You also have the option to put a wager on all 16 bet spots at once with the ‘Bet on All’ button. Using crypto for dice games Crypto has grown throughout the years, so it’s no surprise that it is now integrated into the system of online casino gaming. Aside from the booming market of Bitcoin, there are also many other cryptocurrencies you can use to play crypto dice games. Here are some of the reasons why you should use crypto for dice games: Faster transaction speed. Unlike regular money transfers, crypto transactions will not take more than a few hours regardless of how large the amount is or where you are located. This also means that you can get quicker payouts and enjoy a more convenient withdrawal option. Lower transaction fees. With no third parties involved, crypto transactions have lower fees than other banking options. Security. Fraud is almost impossible to be done with crypto transactions because of decentralization. This means that your crypto transactions will remain anonymous, therefore they cannot be seized. Are you ready to play the best crypto dice games? Get your hands on some crypto coins and discover the excitement and adventure of winning. There’s nothing stopping you from playing the best crypto dice game from your desktop, tablet or mobile anywhere, anytime! Let me know if you need or want any help setting up the account. Just send me a PM and I will explain how to buy coins and make a deposit to start a journey in a cool crypto casino world ;) Cheers, Karl
Hi guys , It's me Karl from Bitcasino. How are you doing? I have posted a series of cryptocurrency lessons in this forum. Hopefully, these were interesting for you and I would like to thank everyone who left comments and asked me different questions about cryptos and gambling in crypto casinos. Today, I would like to enlighten you about another cryptocurrency. It is called Libra and it was announced by Facebook in 2019. Since then, it’s been buzzing on the Internet and intriguing everyone. So what is Libra and how does it work? How will it affect the global financial industry? Should governments be worried? Should you be excited about it? Here’s everything you need to know about it. What is Libra? Libra is ‘a simple global payment system and financial infrastructure that empowers billions of people.’ Its network is built on a secure, scalable and reliable blockchain designed for anyone to participate and build on it. Backed by the Libra Reserve, a reserve of assets, Libra coins are anticipated to have a stable value, making it a ‘stablecoin’ -a specific type of digital coin that’s backed by one fiat currency or a basket of multiple currencies. This stable value is what differentiates it from other cryptocurrencies such as Old URL and Old URL whose prices are subject to supply and demand. Tasked to oversee the Libra network is the Switzerland-based non-profit organization called the Libra Association. Comprising global companies, the Libra Association facilitates the operation of the Libra payment system and ensures that everything goes smoothly. Pioneered by Facebook, Libra’s whitepaper was published last June 2019 and the digital currency is set to be up and running by late 2020. How does Libra work? The Libra payment system makes low-cost transactions possible within seconds with the use of blockchain technology. People will be able to send, receive and spend their money instantly without going through tedious and time-consuming banking procedures. Through phone applications, Libra coins can be converted into fiat currencies within a matter of seconds and sent to anyone in the world. Once it’s up and running, the Libra payment system will be able to support single-currency stablecoins such as USD, EUR, and GBP. You can instantly convert your currency into Libra coins and vice versa anytime you want through Calibra, the Libra wallet. With Facebook’s wide range of applications, soon enough, you’ll be able to use Facebook Messenger and WhatsApp in sending and receiving money. What makes Libra work? There are three main aspects that work hand-in-hand to make Libra an inclusive global payment system: 1. It’s powered by blockchain 2. It’s backed up by the Libra Reserve 3. It’s governed by the Libra Association. Together, these three aspects make instant and low-cost money transactions possible in the Libra network. The Libra blockchain Like all other digital coins, Libra is built on a blockchain, making it secure and reliable. What’s different about Libra is that it aims to move from traditional to liberal: its ‘permissioned blockchain’ will eventually transition to become a ‘permissionless blockchain’. Libra plans to begin as a permissioned blockchain with the Libra Association overseeing the network’s overall performance. This means that Libra is not as decentralised as other coins such as Bitcoin and Ethereum. Bitcoin and Ethereum are examples of permissionless blockchains, where anyone can be a part of the network and start mining whenever they want. They won’t have to ask for anyone’s permission to start crunching codes and adding to the blockchain. An example of a similar permissioned blockchain is Old URLwhereOld URLa company oversees the blockchain and not just anyone can become part of the network. Only banks and financial institutions approved by the company can be part of the network. After five years, once the network has stabilized, Libra intends to proceed to become a permissionless blockchain where the public can join and contribute to maintaining the network. This gives Libra the opportunity to have faster transactions and bigger scalability of up to 1,000 transactions verified per minute. The Libra Reserve Libra Coins are backed by the Libra Reserve, which is made up of a basket of fiat currencies and short-term government bonds. The value of your Libra coin will remain the same from the moment you send it to the moment it is received, so you don’t have to worry about fluctuating prices. This ensures that your Libra coins will hold water and always be worth real money. Whenever you choose to convert your coins back to your local currency, they won’t shrink in value. The Libra Association The Libra Association is an independent non-profit organization based in Geneva, Switzerland. It is a membership group made out of global companies and founding partners, for example, Spotify, Coinbase and Uber, social organizations and academic institutions. The Libra Association is in charge of the Libra protocol and managing the Libra Reserve. It has a number of responsibilities, such as: Providing a framework of governance decision-making for the whole network Overseeing the operation and progress of the Libra payment system Facilitating the provision of services on top of the Libra blockchain Establishing a social impact grant-making project in support of financial inclusion To be a part of the Association, there are certain specific requirements that companies and organizations have to meet: They have to be recognized as top performers in their respective field They have to have at least 10 million US dollars in their operating budget They need to have a large audience and a wide reach of impact Although Facebook is the initial founding member of the Libra Association, it doesn’t have any special powers and privileges over controlling the network. Every member has equal commitments and financial obligations as everyone else with a stake in the Libra project. Spearheading the Association’s tasks is the Libra Association Council, a group that’s made up of one representative per association member. Each member in the Council is entitled to a vote in every matter of discussion brought to the Council for approval. Together, all representatives decide which policies will affect the governance of the Libra network, the Libra payment system, and the Libra Reserve. ***************************************************************************************** Would you like to know even more? In the next part you can find out: How is Libra similar or different from other cryptos? How can you buy and use Libra? The future of Libra Cheers Karl
Hey guys ;) As you may already know, cryptocurrencies rise in popularity every day. But there are plenty of people who aren’t familiar with all the elements and mechanics of cryptocurrency. This means they are susceptible to falling prey to scammers. Find out the most common cryptocurrency scams and how to avoid these. 1. Fake ICOs & Ponzi Scheme * ICOs An initial coin offering (ICO) is a type of funding using cryptocurrency. The company creates coins to sell to investors in exchange for a specific amount of cryptocurrency. The investor can hold onto the coin and wait until the market climbs to sell it at a higher value. ICO scams function in the same way by tempting investors with a newly-created coin. They entice investors with the ‘potential’ of the coin to become the next big thing and that they should hop on before the demand gets too big. The concept of ICO is to trade your coin for a higher price, but if the value is low for an indefinite amount of time and cannot be traded then there is virtually no profit to be made. * Ponzi Scheme The Ponzi scheme focuses on marketing strategies to bring more investors and money. When no new money enters the account and old investors no longer get paid, the scheme collapses. Eventually, the company’s services begin to dwindle, from an unresponsive customer representative to delayed withdrawals and technical issues until finally, the company disappears— and along with it, your money. 2. Shady Exchanges & Email Scams These involve shady emails and giveaways that require you to click a link or provide personal information in order to claim your prize. No one wins anything from just clicking a link and if you’re already on the internet, then this should already be common sense. Be wary of limited offers or free giveaways that give more value than your money’s worth. No one is giving away money, not on the streets and definitely not on the internet. So steer away from those ‘send “x” amount and receive x amount back’ or ‘get rich quick’ trading platforms. 3. Phishing Sites This scheme begins with a suspicious email from a scammer posing as a legitimate individual or organization. The goal of the email is to make you click the link that will lead to a phishing site that has copied a real site. When you fill in the details of your account, the scammers collect personal data from you. These sites are usually hard to identify because of its minor changes from the real URL or domain. So make sure when making financial transactions online that you are on the real domain by checking the URL. The URL should be secure and starts with a ‘https://’ not ‘http://.’ Also, be wary of Google Ads that clone exchanges but lead to phishing sites. 4. Fraudulent E-wallets or Applications When it comes to picking an e-wallet, it might be better for you to pick the best-known and proven e-wallet services. However, better-known e-wallets will attract more imitators. Be wary of fake websites by always making sure you have the right URL. Imitation sites usually trick people with their domain and site appearance so that users log in with their account details. Fake applications have also slipped into Google Play and App Store to fool investors into logging in with their real account and unknowingly providing confidential data. Take note of the slight changes between the real and fake sites. Check the grammar, spelling, or even just the color of the site. Simple inconsistencies like these can make a big difference in identifying the real from the fake. 5. Pump & Dump Online Groups The basic premise of the Pump and Dump scheme is to assemble a group of people to buy a product, service, or in this case a cryptocurrency. These people surround it with hype to encourage others to buy or invest and then the founders sell their holdings. The market drops and people lose their investments. Pump and Dump groups usually use altcoins with a low market. The initiators charge a fee for anyone joining the group. Those who pay more and recruit more to the group get notified sooner of the coin name and the target price. The price spikes when buyers are willing to pay more for the products; the prices pump and so does the demand for it. When the coin name drops, the first few who buy the coin at a high rate are the ones who profit the most. These early buyers get to sell their coins at a higher price due to the demand. However, the prices fall when latecomers resell their assets only to find a lack of buyers for their higher-priced coins. Prices will fall and the dump occurs that leads to a great loss for most participants. 6. Hackers & Malware With a digital nature, no market is more affected by criminals than cryptocurrency. It’s a rule of thumb when it comes to the internet to never click an unknown email attachment, link or website. With just a simple press of a button, your money could be stolen and corrupted by dangerous downloads or programs unknowingly installed in your gadgets. The road to accessing safe and secure cryptocurrency exchanges is certainly not by entertaining weird links or websites. When trading or dealing with crypto, exercise extreme caution when installing software, apps and extensions. How To Avoid These Scams and Safely Trade Cryptocurrency * Stop and Think The proposal might be promising but don’t get carried away by the emotions that any salesperson wants you to feel. Remember that they are telling you these things not because they are necessarily true but because it’s their job to win you over. Ask yourself questions about the company’s reputation. Who works behind the scenes? Are they transparent or anonymous about their team? Scammers value their anonymity so if you can’t find anyone from their team or employees, then you should be more wary. Most importantly, are they registered in any organization or country? All of these questions add to the legitimacy of the company. * Do your own research Don’t rely on the information they tell you, instead use that as a basis for your own research. Do your homework and go through legitimate sites and then compare your research to whatever’s been said to you. A better alternative is that you seek out your own cryptocurrency or services rather than investing in the ones that come to you. * Ask Questions If the companies are legitimate, then most likely they would be willing to give you clear and complete answers. The enemy of scammers is knowledge and information. The sketchier and dodgier they are about their withdrawal process, risks, and fees, the more caution you should exert. Don’t let a scam discourage you from engaging with the ever-evolving industry of cryptocurrency. It’s true that the market holds great potential but always level your expectations with real risks. When in doubt, keep in mind the most important rule of investing: don’t invest anything that you can’t afford to lose. Please read also these posts: Lesson 1: Get to know the coins Lesson 2: Where to buy and keep cryptocurrencies Lesson 3: A guide to stablecoins Lesson 4: How to keep your crypto safe Lesson 5: Different cryptocurrency wallets Lesson 6: The best cryptocurrency exchanges Lesson 7: How to earn and increase Bitcoins Lesson 8: Debunking crypto myths Cheers :) Karl Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
Hello again, It's me, Karl from Bitcasino ;) Let's continue with crypto lessons. As you might know, Bitcoin has been around for a decade now. But there continue to be myths surrounding the cryptocurrencies. Let me help you understand some of these. 5 CRYPTO MYTHS 1. Crypto is used for illegal activities This is one of the most common misconceptions surrounding Bitcoin or crypto in general. Lots of people, fueled by the media, believe that digital coins are mainly used by people performing online illicit deals. Because of its pseudonymous nature and lack of regulation from the government, it’s clear why digital coins look enticing to criminals. In an article published by Forbes in 2018, they mentioned an earlier study saying that half of Bitcoin transactions were associated with dirty activities. A blockchain analysis startup called Elliptic reveals that a huge number of illegal business was conducted through the Bitcoin blockchain from 2013 to 2016. While these facts cannot be denied, it’s also important to note that these kinds of schemes are not only exclusive to crypto. Compared to the number of criminal activities done with fiat currencies ever since the invention of money, this number certainly cannot compare. Additionally, it’s worth remembering that it’s the activities that are illegal, not the coins used to deal with them. Anyone can buy crypto and it is entirely up to those people how they are going to use it. 2. Crypto is not regulated There’s also a myth that the government doesn’t acknowledge and regulate cryptos, making it prone to hacking and all forms of tampering. The lack of a safety net easing the public’s rational worries is essentially what led to the birth of this misconception. That is, however, not entirely true. Contrary to what others think, governments do recognize the power and potential of the blockchain industry. Different nations vary in terms of reaction to the rise of this new technology, proven by the existence of both strict and favourable regulations. Some countries embrace crypto with open arms, letting its growth flourish on its own with little to no restriction. Take Japan, for example. They are very forward with their legislative approach, saying that they have no intention of curbing its growth with too many regulations. Japan protects its consumers while promoting innovation. Other countries have a different and more restrictive approach such as China. They are wary of online schemes that’s why strict laws that protect its people from illegal crypto fundraisings are held in place. Digital asset exchanges who don’t comply are then blocked by the government. In the United States of America, however, the use of crypto is well promoted. There are favourable regulations in place that exempt cryptos from state security laws, money transmission statutes, and other state regulatory requirements. Additionally, as reported by the SEC in 2017, “virtual” organizations are subject to federal securities law. The IRS considers digital coins as property and not a currency so they can be taxed properly. On the other side of the Atlantic ocean, European countries hold a positive outlook with regards to cryptos. The European Union has an optimistic approach with digital coins. There, Bitcoin is considered as a currency instead of a commodity and its transactions are exempt from VAT. 3. The Government will shut down crypto As opposed to this misconception, governments cannot shut crypto down because they run on blockchain technology that is decentralized in nature. There is no central point that they can declare close and out of business. Crypto uses a distributed ledger of transactions instead of storing them in one location. That’s why it will be nearly impossible to close down the blockchain that is composed of a network of validators spread throughout the world. This myth probably came from the fall of peer-to-peer-file-sharing software Napster in the early 2000s. After issues about the trade of sharing copyrighted music on its network without proper license and authorization, Napster was shut down by the US government. People need not fear, however, because the blockchain is not completely like the P2P software. Napster was easily shut down since there are point persons that act as the company’s central authority. This is what crypto lacks. It’s decentralized and the power over the system is equally distributed among its community members. 4. You can do whatever you want with crypto Of course, you can do whatever you want with your purchased crypto, it’s yours. But that’s depending on which kind of digital coin you bought. There are certain limitations set in place. Each crypto is created with a designated purpose in mind that targets specific markets. Bitcoin is created to be a digital currency for people to be used when conducting transactions through the Internet. Its more contested rival, Ethereum, offers ledger technology based on the Bitcoin blockchain where companies can build new programs. Ripple, on the other hand, caters to financial institutions by providing a network for banks and money providers. The fact is, not all coins are created equally. Also, they do not have the same value as you might see on digital currency exchanges such as BTCXE. So yes, in a way, you can do whatever you want with crypto provided that they are within the limitations set by each coin’s designated use. 5. Crypto is prone to hacks People tend to be extra cautious when putting their financial data online and for a good reason. Good thing crypto is protected by cryptographical functions used in a blockchain. This is what makes digital assets more secure than banks when it comes to protecting data. Crypto consists of a network of peers who fact-checks every single transaction that goes on the blockchain. A blockchain is a public ledger kept by every user of a network. It contains the complete history of transactions ever since the blockchain started running. Each block contains two hashes of data: the first one consists of the data from the block that preceded it and the second hash contains new data from the newly minted block. Simply put, whenever a block is added onto the chain, the data of the previous block is passed onto the new block, creating a chain of transactions. With the blockchain’s unalterable and irreversible function, no one can input whatever they want and alter the information contained in the list. Once a transaction is confirmed, it’s already set in stone. What makes blockchain technology so secure is the fact that instead of just a single point confirming and storing all the data, all transactions are validated and agreed upon via a consensus of a network of people. So, if ever someone wants to alter something from the blockchain, like increase the number of Bitcoins sent to a specific address, for example, they have to change the data from millions of computer programs owned by millions of validators spread throughout the globe. After all, there is safety in numbers. CRYPTO MYTHS: FACT OR FICTION? As crypto entered the mainstream and its popularity rose higher and higher, myths both positive and negative rose as well. Though some hold a bit of truth in them, others are purely fictional. The way media portrayed Bitcoin as a get-rich-quick miracle helped give birth to all these misconceptions as well as the paralyzing fear of the unknown or something relatively new. That’s why it’s important to do your own research and get to know what something really is about before you believe anything you see online. Cheers :) Karl Check also our previous cryptocurrency lessons: Lesson 1: Get to know the coins Lesson 2: Where to buy and keep cryptocurrencies Lesson 3: A guide to stablecoins Lesson 4: How to keep your crypto safe Lesson 5: Different cryptocurrency wallets Lesson 6: The best cryptocurrency exchanges Lesson 7: How to earn and increase Bitcoins Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
Hi guys :) Now you know quite a lot about the crypto world already: you know different coins, where to buy, exchange and safely keep them. Today I would like to let you know how to earn more coins :thumbsup: Buying Bitcoins There are several ways that you can buy bitcoin: through bitcoin exchange sites, browsing a peer-to-peer or P2P directory, and using a Bitcoin ATM. Each one offers different levels of convenience and speed so you can check them out and pick which one suits your preference. Bitcoin Exchange Sites Exchange sites let you buy bitcoins with your bank accounts or debit and credit cards. When you use your bank account, it can take a few days before you receive your bitcoins because of the confirmation process and whatnot. Please have a look at our Lesson 6: The best cryptocurrency exchanges. Peer-to-Peer Directories You can search and go over various sellers of bitcoin in Peer-to-Peer or P2P directories and choose who to buy from. Sites like Bisq and BitQuick offer an open-source platform for cryptocurrency buyers and sellers to interact and make transactions with each other. Of course, this entails a certain level of trust since you’re making exchanges with a person and not through a certified medium. Fortunately, seller reviews and feedback scores can help you in making a decision. The plus side of P2P directories is that the transaction happens instantaneously and usually for a lower transaction fee compared to exchanges. Bitcoin ATM Just like your local bank ATM, bitcoin ATMs are terminals where you can buy bitcoins with cash. Instead of using cards and bank accounts, all you need is the QR code of your wallet where your purchase will be transferred to. After the machine scans your code, you can then insert the amount of cash you want to exchange for bitcoins. You can also use this machine to sell your bitcoin and receive cash in return. What makes bitcoin ATMs different from online exchange sites is that you won’t be required to give any personal details or bring out an ID. There’s also no bank involved. So if you don’t want your details stored in online exchanges then physical terminals are perfect for you. 5 Ways of Earning Bitcoins 1. Bitcoin Mining Mining bitcoin is the process of creating bitcoins that requires extensive knowledge of hashing and specialized equipment called Bitcoin miner. This computer hardware supplies the computing power you need to mine and it performs the mathematical operations which in turn creates bitcoins. Mining for Bitcoins is the most profitable of all options since you’re guaranteed to receive bitcoins after contributing to the blockchain. It does require a lot of time, some expensive specialized equipment, and a lot of money to pay off your skyrocketing electric bill. 2. Micro-Earnings This method is comparably smaller in scale in terms of effort compared to bitcoin mining. For micro-earnings, all you need to do is complete a bunch of micro-tasks such as viewing ads on sites, answering surveys, playing games, etc. The payoff is smaller, but this is probably the most secure way of adding some numbers to your bitcoins. Plenty of apps and sites offer this kind of exchange and one of the most popular is FeaturePoints. Earn points by answering surveys, downloading apps, etc. then you can claim rewards with those points including bitcoins. Storm is another similar app where you complete tasks such as watching ads and playing games to receive bitcoins in your wallet. Another platform where you can earn bitcoins is Lolli. This bitcoin rewards application lets you earn bitcoins when you shop online by giving you cashback with every purchase. 3. Bitcoin Faucets Bitcoin faucets are websites that reward you with satoshis in exchange for your time in viewing their sites. Satoshi is 0.00000001 bitcoin, which translates to one-hundredth of a millionth bitcoin. Those who own faucets sell on-site advertisements and these are what often greets you when opening a bitcoin faucet site. In some sites, you can claim your rewards for set intervals such as every five minutes. In FreeBitcoin, one of the well-known faucets, you can drop by every hour and claim your bitcoin after playing a simple game. Moon Bitcoin gives you more freedom in collecting your rewards. You can leave your faucet for as long as you want and let the amount stack up before you come back and claim a relatively larger amount. 4. Bitcoin Investments and Trading Probably the most famous way of increasing your bitcoin is by investing and trading it. You can hold onto your bitcoins and watch its price rise as the market grows. When the price skyrockets to a point that its value becomes substantial, you can then sell it and receive huge payouts in return. It’s important to note that the volatility of this method is extremely high since the market can rise or drop any day. The prices of cryptocurrencies in the market remain unstable, with numbers fluctuating every minute or so. If you’re into investing long-term then you can just leave your bitcoins be and watch how the market moves throughout a couple of days or years. If you want to trade and buy other cryptocurrencies available in the market, you’ll have to exchange them on sites such as BTCXE. 5. Working for Bitcoins Another way of earning more bitcoins is by promoting them via affiliate programs. Affiliates are those who promote certain websites for free and later on receive a commission after bringing in paying customers. Lots of bitcoin exchanges, products, and services have affiliate programs where you can enroll. As an affiliate, you’ll have your own unique link that you can share and promote to other people who could be viable clients. It’s up to your own marketing style on how to promote the site’s products or services. You can reach out on social media platforms and post the links along with your own content. Youtube content creators often do this and put their affiliate links in their video descriptions. Another way of earning bitcoin that leans more on the traditional side is by working for them. You can offer your skills and services to people who are looking to hire people just like you. There are a lot of sites available on the Internet where you can scour for jobs and freelance work that pays in bitcoin. Check out Cointiply or the popular subreddit Jobs4Bitcoins for different job postings. So if you’re willing to do work in graphic design, proofreading, web design, video production and such in exchange for bitcoins, you know where to go. Revolutionizing the World Bit by Bit As cryptocurrency enters the mainstream method of payment, ways of earning bitcoins only increase by the minute. It’s best to always be mindful of the risks that come with these money-making opportunities. Since bitcoin is still relatively new, these new ways of earning income can take a turn for the good or bad. Check also our previous lessons: Lesson 1: Get to know the coins Lesson 2: Where to buy and keep cryptocurrencies Lesson 3: A guide to stablecoins Lesson 4: How to keep your crypto safe Lesson 5: Different cryptocurrency wallets Lesson 6: The best cryptocurrency exchanges Cheers ;) Karl Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
Hi again from the crypto world ;) I have shared 5 lessons with you. How do you feel about crypto now - are you ready to step into the digital money world? Not yet? OK, I have some more educational pieces for you. Any cryptocurrency worth its reputation needs a killer exchange to accompany it. In the modern age of crypto coins, a wide range of exchanges have emerged, offering a multitude of services to the netizens of the world. Considering just how many there are, it sometimes becomes difficult to keep track and differentiate between them. Here are some of the best exchanges available in the industry right now that you need to know. Exchange Platform #1: Exodus The first exchange is Exodus with its sleek, black interface and modern aesthetic. It’s available on desktop, mobile, and also, as standalone hardware. It has specialized syncing capabilities between mobile and desktop wallets. You can use Exodus to monitor the market from anywhere and it currently accepts over 100+ crypto coins with a built-in currency reader. Exodus also has a 24/7 live support chat so maintenance and technical difficulties are never a lasting issue. Exchange Platform #2: Coinbase A well-known favorite for its long-standing reliability and service excellence. You can manage every aspect of your digital wallet’s portfolio and have your crypto comfortably stored in a protected vault with 2-step authentication and trusted insurance. Over 30 million users have been successfully served both online and on mobile, so you know you’re in good hands. Exchange Platform #3: BTCXE The third is one of the best cryptocurrency exchanges in the market, BTCXE. It’s available online and has its developer's full focus and undivided attention, giving users the best experience with customer-centric service at its core. All transactions are handled almost instantly and can be made anywhere in the world (where Mastercard and Visa are accepted). BTCXE also gives its users full data encryption and implements Anti-Money Laundering practices. Some of these include Know Your Customer (KYC) and anti-fraud checks. What’s the best crypto exchange for you? Have you figured out the best exchange for you? If you’re in doubt, any of the exchanges above are reliable and have their own unique benefits. You can’t go wrong with any of the exchanges listed above, so start buying bitcoin or any altcoin of your choice and hop into the digital market with the best exchange platform for you. Check also our previous lessons: Lesson 1: Get to know the coins Lesson 2: Where to buy and keep cryptocurrencies Lesson 3: A guide to stablecoins Lesson 4: How to keep your crypto safe Lesson 5: Different cryptocurrency wallets Got a question? Feel free to reach me out here or write me a PM. Cheers :) Karl Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
Hi guys ;) As you already know from our previous lessons, you should keep your crypto safely in a special cryptocurrency wallet. There are a large number of wallets available for your crypto but they can be classified under 5 different kinds. However, before delving into what these 5 kinds of wallets are, there are a number of wallet terms you need to know first. Necessary crypto wallet terms Private and public keys When making transactions online using crypto, the most basic form of security is the usage of public and private keys. These keys help protect your crypto as it travels and exists across the internet. Public keys encode the crypto so that it’s safe as it travels from point to point on the world wide web until it reaches its destination. Once the encoded crypto has reached its destination, the private key then comes into play. Whoever the crypto was given to needs to use their private key to decode the crypto so that it can be properly used and accounted for. Hot and cold wallets The main difference between hot and cold wallets is their connection to the internet and whether or not they have access to or are mainly dependent on it. A wallet is considered ‘hot’ if it’s connected to the internet. While a hot wallet can potentially be less secure than cold wallets, it’s far more user-friendly and accessible. On the other hand, a wallet is ‘cold’ if it’s mainly used offline like a safe. Cold wallets are better at storing larger quantities than hot wallets because of the increased security. The hot wallet is better for small, daily purchases because it’s highly accessible and it helps minimize potential dangers because it’s connected online. For larger quantities that need increased security for the long-term, a cold wallet is a better option. This is because its safety depends entirely on how you make use of it. There are cold wallet options that can be used online which opens avenues for possible breaches, malware, and hacking. Multi-sig wallets A ‘multi-sig’ wallet is the term used for a crypto wallet that needs multiple signature inputs from all involved parties for a transaction to be completed. Because of its shared status, it’s best used for families or businesses who trust one another and act as one collective body. Multicurrency wallets This term used for wallets that can hold more than one currency. Multiple wallets that only hold 1 type of dedicated currency exist on the internet while other wallets allow for multiple currencies at once. This lessens the number of wallets you’ll need if you can access all your funds in one place instead of them being separated in their own dedicated wallets. The 5 different kinds of cryptocurrency wallets Once you’ve got all the wallet terms under lock-and-key, you’re ready to start learning about the 5 different kinds of crypto wallets. Each of them have their own pros and cons, so choose wisely. 1. Paper crypto wallet Paper wallets are a ‘cold’ wallet that exists entirely offline and makes use of QR codes and your public and private keys which only you can access. Unlike some wallets, paper wallets are entirely cold. They’re a printed copy of your public and private keys. Because they’re not online and not handled by a third party, paper wallets are one of the most secure options and are almost completely hacker-free. The only downside to using paper wallets is that it can be an immense hassle to move funds around. 2. Online crypto wallet Online wallets are hot, third party wallets that hold your funds on a cloud and can be accessed from anywhere by anyone who can open it. Among all available wallets, an online wallet has the fastest transactions and ease of use. However, it’s also the most susceptible to online dangers. Some of these include the most common security breaches such as malware, hackers, scams, and DDOS attacks. It’s because of this reason that online wallets are most viable for small day-to-day transactions instead of long-term storage. 3. Mobile crypto wallet The mobile crypto wallet is easily the most portable option. It’s practical, efficient, and, as a ‘hot’ wallet, it also has additional features that aren’t traditionally available with online wallets such as QR code scanning. The danger of a mobile wallet comes with the fact that because it’s a phone, not only is it vulnerable to the elements, it’s also less secure because of fewer security options compared to its desktop alternative. 4. Desktop crypto wallet Desktop-based wallets can be both hot and cold depending on how you use them. If a desktop hasn’t ever been connected to the internet, it can serve as a very effective cold wallet because of its offline limitations. Additionally, a desktop wallet allows you to keep your private key to yourself as opposed to being held by a third party. However, the stated benefits don’t mean a desktop wallet is immune to danger. There are a number of things that can threaten a desktop crypto wallet. Depending on your wallet of choice, a desktop wallet can be accessed by anyone with access to the desktop. This includes family members, friends, and even repairmen. Another problem is the desktop’s obsoletion. If a computer can’t keep up and isn’t backed up, your wallet can potentially be lost forever. A third problem is the risks involved with allowing a ‘cold’ desktop to connect to the internet even once. This can cause malware and viruses to sneak in before you even switch the connection back off. 5. Hardware crypto wallet The last wallet is the hardware wallet, which for the most part is considered ‘cold’. However, if it’s connected to a device, it can act as a ‘hot’ wallet. The hardware wallet is incredibly good at storing immense crypto funds for the long-term. The hardware wallet (normally in the form of a USB) is one of the least user-friendly wallets, but it’s also one of, if not the most, secure wallet options. Depending on the type of hardware wallet, its conditions for upkeep and usage differ on a case to case basis. Some have batteries or screens while others don’t. If you get a hardware-based wallet with a screen, you’ve already got in your hands one of the most secure options anywhere. Keeping the crypto wallets safe Regardless of which wallet you choose, you can maximize security and minimize dangers by following these few easy steps. First, always have a back-up. If the original ever gets lost and you don’t have a back-up ready, you won’t be very happy—especially if it has, maybe, 10 Bitcoins. Second, make sure that your keys are always secure, especially your private key. Without your private key, you’re permanently locked out of your wallet and can never access those funds ever again. Lastly, if you’re using a digital wallet that isn’t paper, make sure you stay updated so that nothing breaks down or becomes incompatible with the soft or hardware. Missed our previous lessons? Here you go: Lesson 1: Get to know the coins Lesson 2: Where to buy and keep cryptocurrencies Lesson 3: A guide to stablecoins Lesson 4: How to keep your crypto safe Please let me know if you have some thoughts or questions :) Cheers, Karl Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
Hi guys :) In this lesson, I will give you some tips on how to increase your crypto's security. Security problems are common in any industry, not just in digital currency. Thieves go where money flows. As the crypto market continues to surge in popularity, hackers will continue to want to cash in. Fortunately, crypto exchanges are realizing that the industry cannot thrive without proper security and risk management in place to protect the interests and assets of their clients. So while the industry waits for the IT experts and cryptographer geniuses to develop programs and tech that further enhance crypto’s security and overall functionality, there’s a lot you can do on your own to keep your crypto investment safe from hackers and scams. Now more than ever is the most important time to ensure your crypto’s security. How to increase your crypto's protection Here are some of the methods: 1. Use wallets from known sources Choose an established and regulated crypto exchange with an active community of users. The more known and trusted a crypto exchange, the more likely that they already have better safety mechanisms and risk management solutions than less reputable, startup exchanges. Look at it from the perspective of choosing a bank to store your fiat currency. You wouldn’t and shouldn’t entrust your hard-earned cash to any building or institution just calling themselves a ‘bank’. Reputation and credibility should be the foundation of your selection process when choosing a wallet to store your coins. 2. Don’t leave your funds on exchanges Major exchanges have large user bases that in turn attract hordes of hackers. Although crypto exchanges have safety mechanisms in place and strive to refine their systems to become as hack-proof as possible, exchanges still have a built-in weakness in their design. Crypto exchanges in its core are centralized web applications and are therefore susceptible to the same issues of hacking that torment other web applications on the internet. The dozens of crypto exchanges that have suffered from breaches in the past two years alone should be enough proof. In conclusion, don’t leave any money on the exchange that you don’t plan on actively trading. 3. Use cold wallets As long as your wealth is online, then it’s always at risk of getting snatched by thieves. It’s not a question of ‘if’ hackers strike, but ‘when’. Don’t give them the chance to spot any faults on your locks and instead, cut them off completely by using cold wallets. Cold wallets are offline hardware devices like a hard drive or USB. These devices come with buttons that require the user’s physical confirmation before running any transaction online. You can still store funds on exchanges and hot wallets but only the amount that you are willing to lose. 4. Don’t store all your crypto in one place As investors say, don’t put all your eggs in one basket. You’ll never know when tragedy will strike, but if you store your crypto across various secure storages then you can minimize the damage to your assets. However, make sure that you create an organized system of keeping track of all of your wallets, or else you might accidentally misplace and even forget one of them all on your own. 5. Always have multiple back-ups of your private keys In relation to the one above, always have multiple back-ups ready. However, finding a good back-up to store your crypto is slightly tricky. Obviously, you shouldn’t store your crypto in centralized services on the internet such as the cloud. Doing so would defeat the purpose of crypto’s decentralized objective. Additionally, if those services get hacked, you wouldn’t be able to do anything to keep your crypto safe. A better method would be to keep an offline backup of your private keys and seed phrase in a safe place only you would know. Seed phrases are a string of 24 characters which you can derive your private keys from. To enhance the security of your private key, store your seed phrase across different devices and locations. 6. Use strong passwords Generate strong passwords you haven’t used anywhere else and make them as unique as possible. There are random mnemonic generators online you can utilize to generate a completely unique and random password. If you use multiple exchanges, then make sure that each password is different. If you want to keep your passwords as far away from hackers as possible, then printing it out on a piece of paper, locking it in a safe deposit and removing all traces of it on your computer is the best way to do it. With this method, you should always have more than one backup copy in case those physical copies are lost or destroyed. You should consider making multiple copies and storing them in separate and secure locations. 7. Use secure networks Never do your business on public networks. When using public Wi-Fi, anyone with the ability will be able to access and monitor your activities on the internet. To ensure that your network isn’t tampered by hackers and the like, the best thing to do is to pay for a reputable and well-reviewed virtual private network or VPN and install it across all of your devices. This will add another layer of protection over your Wi-Fi by encrypting your internet connection. 8. Be aware of scams and frauds Hacking and breaches aren’t the only security issues posing a risk to your crypto investments. Investors lose hundreds up to millions of their coins every year on scams, frauds and fake ICOs. Always be wary of fake websites and applications. To ensure you always have the correct URL in place, it’s better to bookmark the sites you use for trading. Web extensions that help you spot phishing sites are also readily available for you to download. Don’t fall for these scammers’ schemes and educate yourself on their different ploys and tricks. Before you even think about making a transaction with anybody on the internet, make sure that you do your research properly. The simplest rule to remember when someone comes to you with an offer of investing is: if it’s too good to be true, then it is. 9. Don’t make yourself a target If you dangle an apple in front of a horse, sooner or later it’s going to bite. With the boom of the crypto market, cybercrime is also at an all-time high. Like a predator stalking its prey, hackers are vigilant and actively scouring online hubs in search of their next profitable target. They lurk within the network of crypto influencers and target anyone who declares their income and profit. In retrospect, you wouldn’t shout out to the streets all the assets you have inside your house, right? As a general rule of thumb, don’t talk about your investments or gains anywhere on the internet or you risk inviting cybercriminals to your doorstep. Looking forward to crypto’s future Offline or online, remember that you are responsible for your own wealth. While some security breaches can happen out of your control, there are various secure risk management strategies and solutions to crypto security problems you can do to minimize damage or avoid it altogether. Crypto still remains an industry in transition and it will continue to remain this way for more years to come. Therefore, while it progresses towards its adoption in society, it will continue to face challenges and generate its own solutions. These bumps on the road, however, do not take away from the bright and promising future of crypto once it has evolved into a refined ecosystem. Our previous lessons about cryptocurrencies can be found here: Lesson 1: Get to know the coins Lesson 2: Where to buy and keep cryptocurrencies Lesson 3: A guide to stablecoins Waiting for your thoughts and comments. Cheers :) Karl Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
Hi guys! Would you like to know more about crypto world? Well, today I would like to introduce you stablecoins. What are stablecoins? As the name suggests, these coins were designed to give more stability to crypto investments by pegging them with fiat currencies as a reserve asset. Usually, stablecoins are ‘pegged’ after something with value; this can either be fiat money or another cryptocurrency. Since s introduction into the market, various types of stablecoins have been popping onto the scene. While there are many stablecoins in the market, only a few variants remain successful and reliable. Kinds of stablecoins Below are the different types of stablecoins you can encounter in the crypto sphere today. * Collateralised off-chain One of the most well-known asset types, these are backed by fiat holdings and regulated/verified daily by outside auditors. Collateralised off-chain has two types which are fiat-collateralised and commodity-collateralised stablecoins. - Fiat-collateralised - These coins are backed by fiat currencies. Examples include Libra, Tether, and Gemini Dollar. - Commodity-collateralised - Mostly pegged by everyday commodities like gold, oil, and silver. An example of this is the Digix Gold or DGD. * Collateralised on-chain One of the easiest stablecoins to use is the collateralized on-chain. These coins are fixed by none other than cryptocurrencies. Ethereum is the most popular backer for this type of stablecoin. * Non-collateralised These assets are neither backed by fiat nor crypto assets. To protect this stablecoin from fluctuations in the market, it relies on an intricate set of algorithms and smart contracts. Importance of stablecoins * Lessens volatility The purpose of stablecoins is to provide a fiat peg for the crypto assets that will give it stability while providing swift and cheap transactions. * Useful for cross-border payments Stablecoins are useful for sending cross-border payments and remittances. You can send money to other countries at a much faster and cheaper rate. * Good for crypto-investment If you’re investing in crypto and want to keep your coins safe from price fluctuations, you can use stablecoins to ensure the value of your digital assets will hardly ever drop. TOP 5 stablecoins Just like fiat, there are various types of stablecoins available on the market today. Here are the top recommended variations. 1. Tether (USDT) As s 2020’s leading stablecoin, Tether has continued to prove its competence by launching more exciting innovations in the market. Instead of using gold bars as collaterals, Tether utilizes the United States dollars in exchange for the worth of a coin. 2. USD Coin (USDC) Similar to Tether, the USD Coin is also backed by the United States Dollar. Every 1 USD Coin equals to $1 US dollars. With USD Coin, transactions are simple. Global exchanges can now happen in just a matter of minutes or even seconds by using different brands of cryptocurrencies that allow USD Coin as a payment method. 3. TrueUSD (TUSD) Known as one of the most reliable and most-used stablecoins, TrueUSD earned its reputation from its fiat reserves. This coin is also popular among users because of its updated transparency reports. 4. Multi-Collateral Dai (DAI) DAI runs on Ethereum. Unlike USDT and TrueUSD, DAI is backed up by a company called Maker platform. One of the most notable features of this stablecoin is that it allows users to create and destroy the tokens. 5. Paxos Standard (PAX) PAX is a regulated stablecoin developed by the Paxos Trust Company. PAX has a 1:1 ratio. It’s back-up fiat assets are kept in FDIC-insured banks in the United States. Additionally, Paxos is one of the most utilized coins, currently catering to the 40+ currencies. The future of stablecoins As technology continues to evolve over time, modern problems need modern solutions. For crypto coins, that’s exactly what stablecoin is. The future of stablecoin is bright because of the great potential for it to be used in daily life instead of fiat money. The benefits are just too great. With secure blockchain tech and anchored stability, stablecoins are the best of both worlds. Get your crypto wallets ready because it won’t be long until stablecoins are as common as fiat money. Our previous lessons about cryptocurrencies can be found here: Lesson 1: Get to know the coins Lesson 2: Where to buy and keep cryptocurrencies Cheers :) Karl Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
Hi again from crypto industry :) I have a new piece for you regarding cryptocurrencies. This time I would like to share with you information where you can buy and keep your coins. In order to get any crypto coin, you need to use fiat money in exchange for your preferred cryptocurrency (depending on your country’s regulations about cryptocurrency). From there, you won’t need to use your fiat money unless you want to convert it into crypto coins. Where to buy There are different sites where you can buy crypto coins: Coinbase – It allows you to convert any money you have in a bank, credit/debit card, or Paypal to Bitcoin, Ether, Litecoin, or Bitcoin Cash. BTCXE – You can exchange its chosen 21 fiat currencies into bitcoins and it has a calculator for you to compute your fiat money to bitcoins. – Buy crypto coins like BTC, LTC, and XRP and you can trade it online with other buyers or sellers. There are other ways you can try to obtain cryptocurrency like Bitcoin ATMs, mining, or peer-to-peer exchange. Where to keep After you get your crypto coins, you need to store them somewhere safe so there are wallets or hard drives available for cryptocurrency. There are 3 types of wallets you can choose from: Hot Wallets – This needs an internet connection for you to access it and you can easily set up an account to accept more tokens. Cold Wallets – These types of wallets are accessible even without an internet connection and you can access your account offline. Paper – Your private key and public address can be printed onto paper for you. Hardware – Like a USB, it stores your private keys and it has strong security because it protects your crypto coins from unauthorized users. Here are some wallets you can check out to safely store your crypto coins in: Exodus – A leading application for desktop, mobile, and hardware wallets where you can store over 100+ cryptocurrencies. CoolWallet S – It acts as a hardware wallet you can carry around without having to use an internet connection to trade for crypto coins like Bitcoin, Ethereum, Ripple, and more. Coinomi – A trustworthy blockchain wallet where you can buy, trade, and manage your crypto coins along with having a ton of features to keep it secure. Cryptocurrency is steadily growing every day and new platforms for crypto coins are being created. Test out what works best for you in terms of exchanging your fiat money to crypto and which wallet is user-friendly for you. All the crypto is on your hands now As the economy grows, cryptocurrency flourishes along with it to become a stable way of transferring money around the world. It may be relatively new but it is climbing up the ranks to becoming a reliable way of transferring your funds user to user worldwide. Even big companies are using this new system to keep up with the modern digital age and its great effect on the economy. You can use cryptocurrency to buy from online stores or to send money over to the seller. There are other uses for your crypto coins like playing casino games online for your entertainment. Use your fiat money to purchase crypto coins and try out new things in the digital age! Missed our first lesson about different cryptocurrencies? You can read it here: Lesson 1: Get to know the coins If you have any questions or comments, feel free to reply here :) Cheers, Karl Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.

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