Today, we’re looking at the best crypto wallets to use at Stake.com. It can be a little daunting knowing what to choose if you’ve never played at a crypto casino before, so we’re here to help!
There are 3 options available to you: hot, cold and custodial wallets, and we’re going to compare each option so that you can choose the best one for you. We’ll also tell you how you can get a 200% match deposit bonus using our unique Stake.com bonus code. Let’s get down to business.
Stake.com is a crypto casino, which means that you can’t bet on sports or play casino games using fiat currencies like USD or EUR. Instead, you deposit and withdraw using cryptocurrencies, such as Bitcoin, Litecoin or Ethereum.
In order to play using crypto, you need to purchase these digital assets and store them in a wallet, as you would with traditional funds. This can be a little confusing if you’ve never dealt with crypto before, as there are multiple ways to store your coins. That’s why we’re going to look at all the options you have available, so that you can choose the best crypto wallet for Stake.com and for you.
Generally speaking, you have two options when it comes to crypto wallets: hot or cold. However, Stake.com also gives you the option to use a custodial wallet, which is held on the Stake.com site itself. This means you can buy crypto at the Stake.com site directly, instead of needing to manage an external wallet. This is a nice touch, as not all crypto casinos offer this service.
Let’s take a look at each of the different types of wallets, so you can see which one may be the best option for you. It’s also worth mentioning at this stage that you need to make sure that both gambling and the use of cryptocurrencies are legal in your jurisdiction before you sign up for an account at Stake.com.
If you live in an area where Stake.com is legal, you can also get a 200% match deposit bonus when you use our exclusive code upon sign-up.
Maintained online, hot wallets are a good option for players who are new to the world of crypto. You pay for a third party to host your wallet, so you don’t need to buy any physical equipment. Aside from the cost of hosting your wallet with the provider, most other transactions are free or come with minimal fees, making hot wallets a relatively cheap and convenient option.
Another advantage of hot wallets is that you can contact customer service if you have an issue. For instance, if you send funds to the wrong address, you may be able to recover your crypto with the help of the wallet provider. However, storing your ‘key’ online leaves you open to cyber attacks, making hot wallets the least secure option for storing your crypto.
If you want to use cryptocurrencies regularly, cold wallets are a solid option, given how secure they are. Instead of a virtual wallet that is held online, cold wallets refer to a physical key that you own that stores your crypto on the device itself. This means that you never have to interact with the internet, making cold wallets the safer option for long-term use.
However, possible downsides of cold wallets include the initial outlay of buying the device and the risk of losing your key and any funds that are held on it. Also, because you are the sole owner of the key, this means that there’s nobody to go to for help if you lose your wallet or send funds to the wrong address.
For those who simply want to play the best slots on Stake.com, as well as enjoy the other types of entertainment on offer, there’s the option to use a custodial wallet. This will allow you to buy crypto directly at Stake.com and use your funds to play games on the site.
Although many people believe that you’re buying crypto directly from Stake.com, this isn’t actually the case. If you opt for the custodial wallet option, you’ll be buying your chosen crypto from a partner, such as MoonPay, Banxa, or Remik. This is a very convenient option, but you’ll find, on average, a 3% to 5% markup on the cost of purchasing crypto compared to the usual market value. This is something to bear in mind if you’re planning on playing at Stake.com frequently.
Here’s a quick rundown of all the wallet options, and how they stack up against one another. Remember, there isn’t just one option that’s the best crypto wallet for Stake.com - it comes down to personal preference.
| Feature | Hot wallet | Custodial wallet (buying from Stake.com) | Cold wallet |
|---|---|---|---|
| Safety | Low | High | Medium |
| Convenience | Medium | High | Low |
| Who owns the key? | You (digital) | Stake.com | You (physical) |
| Commissions | Low (fees for owning the wallet) | High (fees applied by Stake.com) | Medium (you must pay for the physical equipment) |
We hope you’ve found this guide to crypto wallets at Stake useful, and that you now have the tools to pick the best option for you. When it comes to choosing a crypto wallet, it’s largely to do with personal preference.
As a rule of thumb, hot wallets are preferred by players who are new to the world of crypto gambling, whereas cold wallets are used by people who use cryptocurrencies for various transactions, not only at a casino. The custodial wallet offered for use solely at Stake.com is a solid middle ground, giving you mid-range security and a high level of convenience. Just watch out for that markup when purchasing crypto at Stake.com, as this will add up over time.
Finally, don’t forget to use our unique Stake.com bonus code to get a 200% deposit match up to $2,000 when you sign up. Ready to get started? Click the banners on this page to create your Stake.com account today.
There isn’t one option that’s necessarily better than another when it comes to choosing a crypto wallet for Stake.com. You have 3 options available: hot, cold, or custodial. Read this guide to help you select the right wallet for you.
It depends! If you opt for a hot wallet, you will have to pay for a third party to host your wallet online, which means you’ll incur some costs. Cold wallets don’t cost anything to run, but you will have to pay for the physical equipment. You can buy crypto from Stake.com using a custodial wallet, but this comes with a mark up on the crypto that you purchase.
Yes! Depending on where you reside, you may be able to get a 200% deposit match bonus using our exclusive promo code. Check the banners on this page to see exactly what’s available in your area.
