Learn more about Coinbase
When choosing a cryptocurrency exchange and wallet to use online when gambling, it is always a good idea to go with a well-established company with a proven track record for honouring transactions and a large user base to ensure liquidity.
Founded in 2012, Coinbase ticks all of the above boxes and more. The company operates in over 100 countries worldwide, hosts over $130 billion in assets on its platform, and processes over $145 billion in trades each quarter across 245,000 ecosystem partners. Not only that, but Coinbase boasts approximately 100 million verified user accounts, making it one of the most robust crypto platforms.
Gambling With Your Preferred Cryptocurrency
Regarding crypto casinos, only some people want to bet with Bitcoin, preferring to hold onto the decentralised currency due to its value.
This is where the Coinbase payment solution shines, offering users access to more than 120 diverse defi tokens and altcoins. The current list of Coinbase-supported tokens includes:
As well as Cardano, Solana, Tether, and Bitcoin Cash.
Access to the world's leading digital currencies is the primary benefit of online gambling with Coinbase, rather than using your current fiat banking solution.
Is Coinbase a Wallet or an Exchange?
Coinbase is a cryptocurrency exchange that offers a self-custody crypto wallet solution.
- Coinbase Exchange: The Coinbase exchange allows you to buy cryptocurrency using your fiat bank account. These tokens can be kept on the exchange, staked, traded, or sold. When you sell, the Coinbase exchange allows you to transfer the cash value back to your linked bank account.
- Coinbase Wallet: Apart from your exchange account, Coinbase offers a self-custody (also known as non-custodial) wallet where you can safely store your crypto for extended periods. This sits outside the commercial exchange infrastructure, where you directly store your coins on the blockchain.
It is suggested that anyone looking to store large amounts of cryptocurrency or store their tokens over time to let them appreciate a self-custody wallet. This way, you have complete control over your investment, and the changing winds of crypto regulation will not impact your ability to access and gamble online with your tokens.
How to Gamble Safely with Coinbase
It is worth noting that when using Coinbase for gambling online, it is suggested that you transact from the wallet solution rather than the exchange, depending on your country's gambling laws. As the Coinbase exchange partners with local banks to facilitate the buying and selling crypto using fiat money, it has to abide by local gambling laws.
If your local Gambling Act does not allow licensed online gambling, you will find that transacting with an online casino via the Coinbase exchange will be seen as going against their terms of service and could get your account blocked.
Since you control your self-custody wallet entirely and can send and receive assets from other crypto wallets directly, it is the best solution for gambling online as a Coinbase customer.
Top 5 Reasons to Gamble with Coinbase
If you are on the fence about whether Coinbase is the best for you, here are five reasons we think you should give them a chance:
- They are one of the largest and most liquid crypto platforms online.
- Coinbase offers deposits and withdrawals using the most prominent decentralised tokens and altcoins.
- Your crypto is secured and housed on offline servers, keeping them safe from hackers.
- You can buy Bitcoin using fiat currency and transfer the value of any tokens you sell directly to your local bank account.
- Coinbased offers a mobile app for Android and Apple iOS.
When you open an account with Coinbase, they also offer options for engaging with the platform and sharing it with your friends, which allows you to earn free cryptocurrency.
If you are looking for other top-rated crypto gambling wallets be sure to also check out: