• Casino & Gaming

The Best Crypto Wallets for Gambling

Over the last two years, we’ve been bombarded with “what is the best crypto wallet for gambling” questions almost daily. Now, it’s time to answer them once and for all.

That said, this blog aims to explain why crypto wallets exist, key features to look for, and provide you with the best choices for both hardware and software wallets.

If some of this stuff sounds confusing right now, we promise it’ll make perfect sense in a matter of minutes.

So, if you’re looking for the best crypto wallet for online gambling, grab yourself a hot beverage and follow along!

Why You Need a Crypto Wallet for Gambling

Before moving on to the list of the best crypto wallets for gambling, let’s focus on why exactly crypto wallets exist.

What is their purpose when all cryptocurrencies are stored on the blockchain and not in the wallets? Well, the purpose of crypto wallets is to store users’ private keys, which in turn grant access to the funds on the blockchain.

When discussing the types of crypto wallets used for gambling, there are two we’d like to emphasize: software and hardware wallets. Here’s what differentiates them:

Software vs Hardware Wallets

These two types of crypto wallets are mainly differentiated in the following areas:

Security

Security-wise, nothing beats hardware wallets. They store your private keys offline, which makes them immune to cyber-attacks. Software wallets are quite secure too, but depend on the platform’s security and the security of the device they’re on.

Convenience

Hardware wallets prioritize security over convenience. They require you to manually unlock and approve each transaction and don’t natively support direct connections to online casinos.

Software wallets, however, are “stored” on your computer or mobile device. They’re always there, allowing quick access to both deposits and withdrawals.

Pricing

Hardware wallets from brands like Trezor and Ledger come with price tags ranging from $50 to $400. Software crypto wallets, on the other hand, are completely free to use. However, they offer some premium features with extra fees, f.e, for swapping or dApp integration.

So, to summarize, you need a crypto wallet to store, access, send, and receive cryptocurrencies.

Key Features to Look For

Moving on with the subject of the best crypto wallet for gambling, let’s talk about the key features. Why is that important? Well, it’s quite a complex topic.

If you’re just testing the vast waters of crypto gambling, you might be overwhelmed by the choices out there. There is quite a bit of information available online, but many of them are quite conflicting, to the point that newcomers end up not sure what to look for.

No worries, we’re here to help you out.  

Best Hardware Wallets for Gambling

Looking for the best Bitcoin wallet for online gambling? No worries, let’s start with hardware wallets like Trezor Model One and Ledger Nano X. Hardware wallets are more commonly known as cold wallets. They come in the form of physical devices that guard your private keys and keep them safe and sound from any cyber-attacks by being offline.

These devices come with a price tag, offer unparalleled security, and many of the same benefits as their software-based counterparts come with. Here are the two best crypto wallets for online gambling featuring cold storage:

Trezor Model One

First off, let’s talk about Trezor Model One. Trezor has been around since 2014, is one of the most reputable brands out there, and Model One is the entry-level cold wallet that costs just $50. It has quite a nice set of features for the price, including a 0.96-inch OLED screen, two buttons, and intuitive coin management via the Trezor Suite app.

Model One is best when used in combination with a hot wallet like MetaMask. You keep most of your crypto in Trezor Model One’s cold storage, but use MetaMask for your day-to-day gambling transactions.

Ledger Nano X

Ledger Nano X is the perfect choice for security-first individuals. It stores all of your private keys offline in what’s called a “secure element chip”. Plus, it requires you to manually confirm every transaction, which eliminates the dangers of cyber-attacks.

Ledger Nano X offers simple yet effective connectivity with mobile devices via Bluetooth. This grants you access to transactions without needing your laptop, which is perfect if you prefer gambling on your smartphone.

Best Software Wallets for Gambling

As mentioned earlier, hardware (AKA cold) crypto wallets are known for providing an extra level of security over their software-based counterparts. After all, they’re physical devices that aren’t connected to the internet, so they are practically immune to cyber-attacks.

However, that doesn’t necessarily mean software (AKA hot) wallets are a bad choice. In fact, software crypto wallets are far more convenient and much easier to use, but they depend on the security of their platform and the device they’re installed on.

When discussing software crypto wallets, it’s important to mention the way they store your private keys. According to our research, you should prioritize non-custodial hot wallets because they allow you to store your private keys on your own device, instead of their platform.

When it comes to the best options for software wallets, we recommend MetaMask and Trust Wallet. You can find more details about them right below.

MetaMask

MetaMask is going to be the obvious choice for most casual gamblers. It’s by far the world’s most popular non-custodial software wallet, thanks to its free-to-use nature, support for ETH, ERC-20 tokens, NFTs, and custom tokens.

There are a few notable downsides, though. For starters, MetaMask doesn’t have native support for Bitcoin, but it does allow users to add networks on their own. Also, keep tabs on the gas fees – Ethereum transactions are notorious for being quite high.

Trust Wallet

Trust Wallet is the second most popular crypto wallet used for online gambling. Just like MetaMask, it is non-custodial, supports thousands of coins and tokens, and allows access to more than 70 blockchains.

Other features include QR-based payments, intuitive swapping with low service fees, and a built-in dApp browse. However, keep in mind that Trust Wallet doesn’t have a desktop app, though it’s available for Android (both Google Play and manual .apk download), iOS, and as a Chrome browser extension.

Final Verdict

Choosing and using the right crypto wallet is oftentimes what separates an enjoyable from a not-that-enjoyable gambling experience.

However, there’s no single best wallet that’s the ideal choice for everyone. Instead, it’s on you to pick the one that fits your preferences.

Hardware wallets are the best options for high rollers who don’t have frequent transactions and value security over everything else. For them, the likes of Trezor Model One and Ledger Nano X are the ideal choices.

Software wallets like MetaMask and Trust Wallet are the best-in-class in terms of speed, convenience, and availability. If you’re a casual user who just wants the fastest gambling experience over the blockchain, picking any of the aforementioned trio will prove to be a smart move.