Unlike their centralized counterparts, blockchain casinos and crypto-betting have transparency and a high degree of protection, which attracts more and more users from all over the world. Nevertheless, the cryptocurrency market is still no clear to most people. Working on it is not at all similar to what you might encounter in traditional financial spheres. Let's break down the easiest ways to fund a cryptocurrency wallet at a blockchain casino.
The easiest way is to use blockchain casino and cryptocurrency betting that supports depositing with a bank card and other traditional financial instruments. For example, in Megapari.com service you can deposit your account via bank cards, payment systems Epay, Stickpay, and others.
One of the easiest ways is P2P exchangers such as LocalBitcoins. There are advertisements for buying or selling cryptocurrencies. You can choose the option with the rate that suits you and make the exchange. This is a quick way to exchange digital money into fiat and vice versa.
It should be remembered that in this case there is a probability of bank transfer cancellation, so there is a risk of losing your Bitcoin or altcoins. That's why it is better to use services with escrow accounts (they hold your money until the transaction is processed).
To withdraw at the same LocalBitcoins it will be necessary to pass the process of verification, so you can not count on anonymity. The platform will require passport details and other personal information.
Another option is centralized exchanges. KYC and AML procedures are also present there. However, the transaction is likely to pass instantly if the platform has no liquidity problems. It is better to choose large and proven platforms such as Binance.
Many cryptocurrency wallets allow you to buy and withdraw. However, fees for such transactions will be huge, so if you want to hold some Bitcoin and then sell it the same way, the earnings can be eaten up by fees. Also, many big wallets such as Blockchain ask to verify you.
Various services offer to buy or sell cryptocurrency directly in a mobile app. For example, Swiss fintech startup Aximetria allows buying digital money from a bank account and withdrawing it back. The IndaCoin exchanger works on a similar principle.
Each service has its transaction fees and you need to consider them when buying and selling digital assets. However, it is better to choose the most reliable and trusted option and overpay a little than to try to save and lose everything.