What is an online crypto wallet for gambling?
With classic casinos, players have accounts where they deposit or transfer money for gambling. However, crypto wallets come in handy when a casino would like to accept coins like bitcoin, Ethereum, or others. They allow issuing multiple crypto addresses for payments, taking crypto transactions, and storing transaction data.
A crypto wallet for gambling is a b2b software . It enables the creation of unique addresses for many invoices so that clients can pay for your services.
How do crypto wallets work for casinos ?
Using a crypto wallet for gambling involves the following stages.
When an online casino needs to make a cryptocurrency transaction , it demands a unique crypto address for each invoice. Here, a crypto wallet comes in handy. With their help, you can create as many unique cryptocurrency addresses as you need.
Later, using this unique address, customers may transfer a cryptocurrency to your account . Besides, since the address is individual, you can identify your customers' transactions afterward.
Bithide's cryptocurrency wallet alerts you when it has received a payment after a successful transaction.
So, let's investigate whether you need a crypto wallet for your solution.
Why do you need a crypto wallet for gambling?
Gambling fans prefer crypto for many reasons. First, it's less expensive because of lower transaction fees than bank payments. Second, blockchain transactions are processed faster. Third, casino enthusiasts sometimes face a social stigma considering their passion. That is why they prefer casinos accepting crypto so that they can remain incognito.
We have highlighted three main reasons why using unique crypto wallets designed for gambling benefits online casino owners.
- To accept crypto: First, once a casino decides to accept crypto, it needs a wallet letting them generate multiple unique crypto addresses for invoices. A private wallet doesn't provide such an opportunity. Moreover, if you run a few casinos, the ability to connect all of them to one wallet may become extremely useful.
- To keep privacy: Second, both casinos and their users often want to be private. The new wave casinos want to meet the privacy demand among gambling enthusiasts, which is the desire to remain completely anonymous. Bithide's unique technology enables storing data on customers' servers and protects this data on the servers with the Dark Wing technology. As a result, all crypto transactions are untraceable. And no third parties can access your data.
- To operate multiple merchants: A lot of online casino owners run multiple brands. So, for multi-merchants, BitHide offers many management tools that help companies efficiently operate emerging numbers of cryptocurrency transactions.
Let's sum up. Since operating crypto wallets like BitHide makes the entire transaction's path impossible to trace, you can use this crypto wallet for online gambling. This is a convenient tool to broaden the payment choices of your users.
Suppose your business requires you to run a few casinos simultaneously. In that case, you will have to incorporate them into one wallet; otherwise, you will waste time tracking each wallet's activity. BitHide's approach allows you to merge your many businesses' analytics in one place. So you no longer have to switch between tabs, thus following both pivot and separate reports simultaneously.
How to use your wallet
Not wanting to invest in developing your brand's crypto wallet casino is okay. Especially when you remember that evolved executive functionality, absolute anonymity, and a user-friendly interface are only one download away.
After installing Bithide, you maintain complete control over the transaction data. Furthermore, your tech team will be able to set up the solution in less than eight hours since we offer you detailed guidance.
Before integrating such a tool on your casino website or in the app, check out how Bitgide's features match the needs of your gambling businesses. We offer you the following:
- transferring and accepting cryptocurrency
- privacy and security of your transaction data
- the ability to connect multiple merchants to one wallet
- a way of combining the analytics from various businesses in one place
- an opportunity to run both pivot and separate reports in your multi-merchant account. Thus encrypting and protecting your deal's information.
Advantages of Bithide crypto wallet
Bithide's software warns you about possibly harmful dealings. For example, upon seeing a questionable payment, our technology differentiates and stops it. Only upon your previous approval, of course, so this way, we allocate the risky transactions to a separate account and even let you withdraw the money from it later.
The acceptance of suspicious activity undermines the trustworthiness of one's wallet. So omit it by concealing your IP address. That is why we hide your IP with the help of our customized Dark Wing technology. The latter combines TOR and VPN, so no third parties can follow your wallet and its structure.
After installing Bithide, link multiple merchants as you require and manage multiple-source trades in one place. For example, our software allows you to connect all your casinos to one wallet and get analytics from various businesses in one place.
With BitHide, you can manage accounting analytics both separately for every single merchant and pivot them into one report for making a joint revenue flow analysis.
Automating the withdrawal process is essential with the exchange rate and fee fluctuation. Besides automating money withdrawal, BitHide enables even more, including auto and API-driven pullouts. This reduces the costs associated with this process.
With the growth of your company and your staff members, more people will need access to your crypto wallet. However, you must keep this process transparent when you know exactly who has access to which data. BitHide allows distinguishing access rights and the corresponding functionality.
At Bithide, we believe in being an anonymous crypto wallet, which is why we work on preventing transaction detail disclosure to third parties. We can deliver our promise since, by default, all your data is stored on your servers, and no one can access this information but you. Moreover, with BitHide's anonymity level, third parties cannot detect your IP address.
FAQ
What is the best crypto wallet for a casino?
The best crypto wallet for gambling is one that prevents the regulatory ban and allows you to use your funds at any time. BitHide allows you to skip the KYC/AML compliance, keeps your wallet structure impeccable, assures secure data storage, and guarantees on-time withdrawals. These features make it one of the best solutions on the market.
What are the advantages of using crypto wallets for gambling?
Using a solution developed for gambling allows you to keep your wallet safe, hidden from the 3rd party control, and accessible anytime. BitHide was designed especially for these needs. With 2-stage protection guaranteed by TOR and VPN, BitHide makes your IP address untraceable. In addition, server-kept data remains hidden from the KYC and AML control unless you share it. These features allow BitHide to be considered the best crypto wallet for online gambling.
How to create and set up your crypto wallet for online gambling?
Depending on the solution you use, the setup process may differ. For instance, with BitHide, you must install it on your servers and connect to your platform or app. So, within only one day, you can start seizing the opportunities which BitHide unveils for you.
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