How to Buy Cryptocurrency

Stake is a platform for playing exciting online casino games and enjoying betting on top sports events. However, unlike other platforms, our players use cryptocurrency instead of traditional cash top-ups.

So how do you do it? What exactly is cryptocurrency? Don’t worry, this beginner’s guide will take you through cryptocurrency and teach you how to quickly buy coins and place bets online at Stake’s online casinos and sportsbooks .

What are cryptocurrencies?

In simple terms, cryptocurrency is a virtual digital currency that uses a cryptocurrency network to ensure transaction security. In 2009, the world’s first cryptocurrency, Bitcoin, was born. To date, Bitcoin is still the most well-known cryptocurrency among hundreds of cryptocurrencies, including Ethereum and Litecoin.

Unlike traditional fiat currencies such as the dollar, pound or euro, cryptocurrencies are not controlled by central banks. They are completely digital, and all transactions are stored on a public ledger called a blockchain .

Blockchain can ensure that transactions are authentic and transparent. Each record is maintained by different nodes and is not restricted by any institution, so the consistency and transparency of transactions can be ensured.

How do cryptocurrencies work?

As a digital asset, all cryptocurrency transaction records are stored on the blockchain . When you make a transaction, you can broadcast it on the network, and then the transaction will be verified by multiple computers called “nodes”.

Once verified, the transaction is permanently recorded on the blockchain and no one can tamper with or delete it, which is why it is called absolutely secure.

The decentralized nature of blockchain means that no individual or institution can control the direction of currency, thus eliminating the expensive intermediaries (such as banks) in the traditional monetary system.

Every cryptocurrency transaction is made directly between users, so money moves faster and costs less. Click to see what you can buy with Bitcoin .

Common types of cryptocurrencies

There are many different cryptocurrencies on the market. Bitcoin and Ethereum are the most popular cryptocurrencies at present. Other popular cryptocurrencies include Litecoin , Solana , Tron , Binance Dollar and Dogecoin . In addition, there are thousands of emerging cryptocurrencies for specific markets, such as TrumpCoin and ApeCoin. You can use these currencies to place bets on Stake.com.

It is not difficult to buy these cryptocurrencies. First, you need a dedicated digital wallet to trade cryptocurrencies .

How to buy cryptocurrency?

1. The first step is to choose a cryptocurrency exchange (such as Coinbase or Binance), register an account and set up your digital wallet. Please note that a digital wallet is not a physical object, but an APP or software used to buy, sell or store your cryptocurrency.

2. You can then choose a payment method, such as linking a bank card, purchasing with a bank transfer, credit card, debit card, or even PayPal or a gift card, depending on the requirements of the platform you choose.

3. You can choose a payment method by linking your bank account and using a bank transfer (bank transaction), or you can choose to pay with your preferred method such as credit card, debit card, PayPal or even gift card, depending on the requirements of the platform you choose.

4. You can then buy cryptocurrency at the current exchange rate. The amount of cryptocurrency you selected will be added to your wallet.

How to store cryptocurrency?

Just like a real-life wallet, your digital wallet can be used to store cryptocurrencies. When choosing a cryptocurrency wallet, try to choose one that is secure, easy to use, and compatible with the cryptocurrencies you plan to use. Popular crypto wallets include Coinbase Wallet and Exodus. Please note that since there is no centralized bank, it will be difficult to recover funds if they are lost or stolen.

There are two main types of crypto wallets – hot wallets and cold wallets. In simple terms, hot wallets are directly connected to the Internet, which is convenient to use but less secure. Cold wallets are not connected to the Internet and are used offline, which is safer, but the operation is a bit cumbersome. In general, both types of wallets have their pros and cons, so we recommend that you use both wallets at the same time, pay attention to regular wallet backups, add two-factor authentication, and keep your account passwords safe.

Why invest in cryptocurrencies?

Investing in cryptocurrencies can not only bring profits and increase your wealth, but also serve as a means of asset appreciation, especially in special times, to protect your assets from shocks. Of course, any investment is risky, and the cryptocurrency market is highly volatile, and prices may rise or fall at any time. Therefore, investing in cryptocurrencies is a speculative behavior, so please be cautious in investing and do a good job of risk control.

A wiser approach is to consider cryptocurrency investment as part of your overall investment portfolio, not putting all your eggs in one basket and diversifying your risks.

How to use cryptocurrency on Stake.com?

At Stake.com, we have simplified the process of depositing cryptocurrencies to the greatest extent possible, so that players can quickly enjoy their favorite casino table games such as slots , blackjack , roulette and live casino games , or bet on various sports events. You can also purchase cryptocurrencies directly on Stake with your credit or debit card through Moonpay (the world’s leading cryptocurrency trading service provider), and transfer the purchase directly to your Stake wallet, so that you can participate in and receive all welcome promotions and bonuses on the Stake platform immediately .

Cryptocurrency deposit and withdrawal methods

It’s very easy to deposit cryptocurrency into your account in just a few steps:

1. Open “Wallet > Deposit” to obtain your exclusive deposit address.

2. Select the top-up method you would like to use.

3. Just copy and paste your deposit address to your personal wallet or the sending address of the exchange.

4. (Optional) If you want to top up with fiat currency, you can purchase cryptocurrencies through Moonpay and Swapped.com and then deposit them into the platform.

You can always click here to view the platform’s full list of available cryptocurrencies and refer to our recommendations to choose the currency that suits you . Once you are ready, you can use fast, convenient and reliable platforms such as Moonpay and Swapped.com to buy your favorite cryptocurrencies . If you have any questions, you can seek help through our customer support , and our real customer service will assist you with any deposit and withdrawal issues as soon as possible. In addition, the Stake platform also provides a dedicated online vault (Stake Vault) so that you can store your funds safely online anytime, anywhere. If you want to learn more about how to protect the safety of your funds, you can also read our cryptocurrency security guide .