Gone are the days when you had to walk across miles to find a physical casino. Today, you can play your favourite games online because the online gaming industry has changed how things work.
Like online gaming, cryptocurrencies are gaining attention among players and casino operators. Gaming sites accept Bitcoin payments because they are convenient and fast. If you are interested in playing crypto games, the first tool you need is a digital wallet. This guide explores the best crypto wallets.
Top 5 Crypto Wallets for Online Gaming
Besides finding the best crypto casinos to play your favourite games, having a reliable cryptocurrency wallet is crucial. Below, we reveal our most secure crypto wallets for virtual gaming.
1. MetaMask
Meta Mask is a popular crypto wallet among Ethereum gamblers. The software wallet offers users non-custodial access to ETH and thousands of ERC-20 tokens. It is also user-friendly, providing a mobile app and browser extension for users to buy, sell, store, and swap on their Android or iOS devices.
You can use MetaMask to wager on betting odds at crypto sportsbooks that support Ethereum and its ecosystem tokens, such as USDT, SHIB, and TRX.
| Pros | Cons |
| Supports thousands of assets | Limited to ETH and ERC-20 tokens |
| Integrates with popular gaming platforms | |
| Free digital wallet |
2. Ledger Nano S Plus
Ledger is another notable brand in the crypto wallet space. The company’s Ledger Nano S Plus Wallet is a non-custodial digital wallet that allows users to store their assets offline for additional security. It supports 5,000+ assets, including popular options like BTC, ETH, USDT, and SOL.
Moreover, the device supports crypto staking, allowing users to earn periodic passive income on their staked assets.
| Pros | Cons |
| Supports offline asset storage | It costs $79 per piece |
| 5,000+ assets are available | |
| User-friendly wallet |
3. Trust Wallet
Trust Wallet is a digital wallet that offers gamers flexible crypto payments across their favourite casinos and bookmakers. The software is used by over 100 million people worldwide, so online gamers who fancy Bitcoin betting sites can buy cryptocurrencies with Trust Wallet to fund their betting accounts. It also supports 10 million+ assets, including cryptocurrencies and non-fungible tokens (NFTs).
The wallet is also supported by many crypto exchanges, making it easy to swap or transfer tokens.
| Pros | Cons |
| Available on Android, iOS, and web browsers | You can lose your coins if you forget your seed phrase |
| Over 10 million assets are available | |
| Costs $0 |
4. Trezor Model One
The Trezor Model One is a go-to option for gamers looking for offline crypto security. The product has been on the market for over a decade to establish itself as a reputable storage option. With support for over 9,000 assets, you’ll find top coins like BTC, ETH, XRP, ADA, and many altcoins.
Whether you want to buy and sell crypto, send funds to your gaming account, or exchange one coin for another, the Trezor Model One makes it all possible. However, like other offline wallets, it isn’t free. As of this writing, the product costs $59.
| Pros | Cons |
| Can send, receive, and trade crypto | It costs $59 a piece |
| Over 9,000 assets are available | |
| Secure offline storage |
5. Exodus
The Exodus Crypto Wallet is a user-friendly product that lets you access 1,000+ assets and 50+ blockchain networks, including Solana, Ethereum, and Binance Smart Chain (BSC). Exodus is available to gamers who want to manage their diverse assets securely on mobile or desktop devices.
The software also lets you buy crypto with USD or your local currency to make coin purchases seamless. So, you can bet across various casino sites or sports betting platforms regardless of their supported crypto payment methods.
| Pros | Cons |
| Mobile apps and browser extensions are available | No two-factor authentication (2FA) security |
| Over 1,000 assets are available | |
| Integrates with the Trezor wallet for accessibility |
What is a Crypto Wallet?
A crypto wallet is a third-party device or software that allows users to store and manage their crypto assets. These wallets support diverse assets, making it possible to deposit your favourite coins into your betting account or withdraw your winnings into them.
However, it’s important to note that while crypto wallets can access your funds, they don’t have custody of the assets. Instead, they safely store them on their individual blockchains and provide a private key (similar to a password) to retrieve them whenever you want.
So, instead of leaving your assets with an exchange that may get hacked or experience other security issues, Web3 wallets retain them on their respective blockchains so that you can access them at any time.
Different Types of Bitcoin Wallets
Many wallets are available for storing cryptocurrencies and other digital assets, but they can be divided into two major types: cold and hot wallets.
- Cold wallets, also known as hardware wallets, store your private keys offline for an additional layer of security. Due to their offline accessibility without internet usage, cold wallets are secure from hackers and malware. They also let you complete your transactions offline. However, you can lose your coins if their seed phrases or private keys are missing. The Ledger Nano S Plus and Trezor Model One are popular hardware wallets.
- Hot wallets, also known as software wallets, are connected to the internet and store your private keys online. Usually, they provide mobile applications or browser extensions to make transactions more convenient. However, unlike cold wallets that process transactions offline, hot wallets expose users to security risks like hacks, phishing, and malware attacks. So, they are better suited for beginners or small crypto accounts. MetaMask and Trust Wallet are popular software wallets.
The Importance of Cryptocurrency Wallets in Gambling
The online gaming sector has improved over the years, with optimistic predictions that its value will exceed $136 billion in the near future. Since it’s possible to send Bitcoin from your exchange account to your gambling account, you may be wondering why a crypto wallet is necessary for online gamers.
First, the devices are decentralised, giving you complete control over your coins. Transferring crypto from your exchange to a Bitcoin casino or bookie is also risky because some exchanges restrict gambling activities and may lock you out of your account.
Moreover, wallets offer you better anonymity because they don’t require KYC or have access to your personal information. Hardware wallets also provide additional protection from hacks or glitches.
How to Choose the Best Bitcoin Wallet for Web3 Gaming
Despite having numerous options, you don’t need multiple wallets to store various gaming coins. Here are some tips when choosing an option:
- Use only trusted options purchased from the provider’s official website
- Check their fees and other charges to find low-cost options
- Prioritise a beginner-friendly option with an intuitive user interface
- Check online reviews for feedback from existing users
- Test with little funds before finally settling for an option
Conclusion
You’re here because you want to determine the best option among the numerous Web3 wallets on the market. Fortunately, we’ve reviewed the best 5 in this guide. Whatever option you choose, ensure you secure your private keys to avoid security breaches or complete loss of your coins.