Buy Crypto on Exchange Sites
If you’re interested in playing at crypto casinos, then you’ll need to buy Bitcoin or another cryptocurrency for deposit purposes. This process seems intimidating if you’re new to the matter and used to traditional banking methods.
Luckily, though, you can quickly learn how to purchase cryptocurrencies just by understanding how crypto exchanges work. The following guide covers the basics of exchanges along with our recommendations.
Best Crypto Exchange Sites
Given the explosion of the cryptocurrency industry, crypto exchanges have rapidly gained in popularity. Hundreds of exchange sites now exist across the industry. You may feel overwhelmed at first, but we are here to help you find the best crypto exchange.
Where to Buy Cryptocurrencies for Online Casinos
Are you ready to play online casino with Bitcoin or other supported cryptos? Then you can use the following crypto exchange list with suggestions on some of the best exchange sites for online gambling to quickly get started.
Binance opened in 2017 and quickly became a premier exchange. It’s currently the most-popular international cryptocurrency exchange site. With their new Binance Card you can shop online, in stores, or withdraw cash at ATM all over the world.
It features some of the industry’s lowest fees. The taker and maker both pay a low 0.1% fee by default. These charges drop as low as 0.02% with increased trading volume.
Binance boasts one of the biggest selections of coins. You can find many cryptocurrencies within the top 200 in terms of market cap here.
Unfortunately, the international Binance site began blocking US traders in 2020. They did, however, open Binance US for Americans. Although the US-facing version offers fewer coins, it’s still solid compared to many other exchanges. Create free account here
Launched in Israel in 2006, eToro got its start as an online stock brokerage firm. It has since expanded to include other assets, such as cryptocurrencies.
It has steadily boosted its offerings to include over a dozen altcoins. Some of these coins include Ethereum, Litecoin, Cardano, Neo, Dash, Stellar Lumens, and Tron.
EToro is another entry on this list with a user-friendly experience. It also offers more-advanced features that can improve your trading skills, such as social trading (chat) and a demo account (paper trading).
Drawbacks to eToro include high withdrawal fees and slow payment processing. Even with these downsides, though, eToro is still a standout. Create free account here
KuCoin is a great exchange when you’re playing at casinos that accept multiple altcoins. After all, it offers one of the widest ranges of altcoins anywhere.
If you can’t find a coin on one of the exchanges discussed above, then there’s a good chance that you can get it at KuCoin. This site is also relatively easy to use and is a nice choice for altcoin beginners.
The Singapore-based exchange was hacked for $281 million, though, in September 2020. This incident has left security concerns among some people.
Nevertheless, KuCoin did ensure that no customers were affected and worked with law enforcement to find the hackers. Create free account here
Launched in 2012, Coinbase was one of the first cryptocurrency exchanges. It has parlayed this first-mover advantage into becoming the premier crypto exchange for US residents. It’s also popular in many other countries as well.
Coinbase brings a certain legitimacy to the industry that can’t be matched. This exchange has done things by the book and is one of the most-trustworthy custodians. If you’re going to keep coins on an exchange, then you can’t do any better than this one.
Coinbase also boasts one of the most user-friendly interfaces. You can get started with trading Bitcoin and other crypto in relatively no time.
This exchange site also offers a solid selection of altcoins. Ethereum, XRP, Polkadot, Maker, and Aave are just some of the available coins.
Fees are the big downside to Coinbase, which charges between $0.99 and $2.99 per purchase. If you can get past the fees, though, then everything else about this site is great. Create free account here
CEX.io is a cryptocurrency exchange that launched in London in 2013. As far as crypto exchanges go, this is one of the longest-running operators in the business.
CEX originally only allowed Bitcoin trading. Some reviews suggest that CEX.io doesn’t support many cryptocurrencies. However, this isn’t the case as they feature over 80 coins at the time of this writing.
Available deposit methods include Visa, Mastercard, ACH, Advcash, Epay, QIWI, Sepa, and Skrill. You can use most of the same options to withdraw money too.
No fees are attached to bank transfers. However, credit cards and Skrill deposits can be expensive with 3% and 4% fees, respectively. Assuming you can deal with the deposit fees, then CEX.io is a solid exchange that offers many coins. It’s also a reputable operation with a lengthy history of success compared to other exchanges. Create free account here
Launched in Israel in 2013, Coinmama is one of the industry’s most-experienced cryptocurrency exchanges. It’s a brokerage, meaning you buy/sell coins directly through them and not through regular traders. The advantage here is that you can purchase or sell your coins quickly. Furthermore, you don’t need to spend time matching yourself with a seller.
The downside is that the fees can rake you over the coals. You’ll pay close to 6% in brokerage service fees. When using a credit card, you’ll need to cover an additional 5%. That makes the total fees closer to 11%. You can reduce these high costs, though, by using Apple Pay or Sepa—the only payment options beyond credit card accepted here.
Coinmama doesn’t offer a very large list of available coins either. Bitcoin, Bitcoin Cash, Cardano, Ethereum, Litecoin, Ripple and Tezos is supported at the time of this review
If you’re looking to buy any of these coins quickly, then Coinmama isn’t a terrible choice. Like all brokerages, though, they’re an expensive option. Create free account here
How to Use Crypto Exchange Sites
Each cryptocurrency exchange can differ slightly regarding how it’s used. Generally speaking, though, they feature similar user experiences.
Here are the basic steps to purchasing Bitcoin and other cryptocurrencies at exchanges:
- Sign up for an account at prefered site from this page.
- Enter your payment details (e.g. bank account info, credit card info, paypal).
- Deposit with fiat (e.g. US dollars).
- Choose a cryptocurrency.
- Enter how much you’d like to purchase.
- Confirm the transaction.
- Your crypto should be available after the purchase.
Some exchanges, like Binance, only allow for trading in cryptocurrencies. Therefore, you’ll need to send crypto to these sites before being eligible to trade. Assuming you don’t already have coins, you’ll have to use a fiat-to-crypto exchange (e.g. Coinbase) as described in the steps above.
Frequently Asked Questions
Which Crypto Exchange is Best for Online Gambling Purposes?
Regarding mobile gambling, the best cryptocurrency exchange is simply one that sells the coins you need. Therefore, you should check your favorite online casino’s banking section to see which coins are supported. Also choosing an exchange that offers a card (e.g. Mastercard or Visa) for ATM withdrawals and shopping is a good choice.
If you’re playing at a gaming site that takes Bitcoin, Ethereum, and Bitcoin Cash, then you should pick an exchange with these three coins.
Should You Create a Wallet or Keep Your Coins on the Exchange?
Many cryptocurrency users advocate creating a wallet and storing your coins there. This way, you have total control over the crypto.
For convenience stake, though, you might still consider keeping your coins on an exchange. You can have more comfort in doing so when using reputable services like Binance, Coinbase, and Cash App.
Which Crypto Exchange Is Best for US Players?
Coinbase and Binance US are both quite popular among American gamblers who want to buy cryptocurrencies. Of course, eToro, Cash App, and KuCoin are also solid sites as well.