There are a number of instant and hardware bitcoin wallets that you can use for gambling online as well as some that you should avoid completely.
Short List of Good Wallets
- Trezor.io – buy one of these hardware wallets and have peace of mind, ease of use and well worth the investment
- LedgerWallet.com – buy one of these directly from the site (not amazon) and have a great hardware wallet
- Bread – mobile based wallet (free) and you control your private keys. Not as secure as a hardware wallet, but for a free option they are hard to beat that is quality.
- Electrum.org – download this to your desktop, it’s free, is secure and you control your private keys
- GreenAddress.it – another great privacy centric web based wallet
Do not use the built in wallet at Coinbase to transact bitcoin with any gambling site at all. Coinbase will know and will shut your account down. You can buy from coinbase but send it to a wallet of your own before sending it to a betting site and vice versa!
There are two main types of bitcoin wallets that players might want to use for deposits and withdrawals when gambling online. On one hand, you have instant wallets that are based around online accounts, and on the other hand, you have hardware wallets that actually store the code for your bitcoin on a device you can pick up and move around. Here we’re going to take a look at the best of both worlds and show you which you should stay away from as well.
An Important Notice About Not Using Coinbase
We want to make something perfectly clear right here, front and center. You absolutely, 100 percent should never use Coinbase for gambling transactions of any kind. Because of regulatory guidelines that they have to follow, they will not allow the transactions, and they can completely close your account and ban you from opening future accounts if you try to use them as a method of making deposits and withdrawals for online gambling. While they are a particularly popular option for bitcoin users, they are not suited for gambling, and you should make sure to avoid them because of this.
With that having been said, here are a list of different options that will work for you if you want to use them to gamble online.
Instant Online Wallet: GreenAddress.it
- Various log-in levels for easy access and strong security
- Completely free with no hidden fees
GreenAddress.it is a completely free online bitcoin wallet with no fees at the time of this writing. It offers several security options with a variety of tools that make managing your account easy. One of the main things that’s so interesting about this wallet in particular is that it has a really wide range of security features like different level log-ins for the same account. For example, you can have a simple PIN number to view the status of your account without being able to make any changes. You can also set several two-factor authentication options to add layers of security to your account for making actual transactions.
Instant Online Wallet: BreadWallet.com
- Very strong mobile app
- Flexible options for bitcoin forks
BreadWallet.com is another free bitcoin wallet that has more of a mobile focus. While they are geared a bit towards people who want to make long-term investments in bitcoin, they are also a good choice for people who want to use it as payments. Their mobile app is very strong and intuitive, and it allows you to view your balance or make transactions from anywhere you have a connection. They also offer a variety of options when it comes to future bitcoin forks, something that has become an issue for those who aren’t prepared.
Instant Desktop Wallet: Electrum.org
- Particularly flexible software and mobile platform
- Host your bitcoin wallet on your own computer or mobile device
Unlike the two options listed above, Electrum.org is based on a free piece of software that runs on your own device. You can use Linux, Windows or Mac computers or Android-based mobile devices with this wallet, and their entire focus is to make the process of using bitcoin as quick and simple as possible. The fees are a bit higher than the two online wallets listed above (GreenAddress.it in particular), but you get to host your wallet on your own machine instead of online, which is important to some people.
Hardware Wallet: Trezor.io
- Sleek, attractive form factor
- Designed for ease of use
Trezor.io is a hardware-based bitcoin wallet, which means you’ll have to actually buy it and wait for it to ship to you. It’s shaped like a small dongle that connects to your device via USB. It works with Windows, Linux, Apple iOS and Android, and it offers two-factor authentication and other security features. For most online gambling fans, this will be a good option if you want a physical wallet that you keep with you instead of using one online. It’s very easy to use and designed to have a focus on being user-friendly.
Hardware Wallet: Ledger Nano S
- Includes apps for other popular cryptocurrencies
- Small, portable form factor
The Ledger Nano S product by Ledger Wallet is another good option for people who primarily want to have bitcoin for making deposits and withdrawals to online gambling sites. It’s compact at about the size of a USB flash drive, and like the Trezor.io listed above, it has two-factor authentication and a plethora of security features. This hardware wallet includes apps for a variety of other cryptocurrencies like Ethereum Classic, Ethereum [Modern Fork], Litecoin, etc., and it may be the best choice on this list for people who really want to dive into cryptocurrency trading outside of simply using it for online gambling transactions.
In the above, we have listed out a number of good options for online and hardware-based bitcoin wallets for those who want to use it to gamble online. The online options are probably the best for those who are just getting started with bitcoin, but if you get more into it and really like it, you can graduate to the hardware wallets at your own pace.
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