How to Store & Transfer Crypto

Even if a crypto casino explains how to buy bitcoin, it’s not often it’ll explain how to store your coins. After all, it’s in the crypto casinos’ best interest to keep your tokens in their cashier, and boost the likelihood of you playing again.
But we’re not about that life. Our job is to give you all the information you need to make the best decision and keep your funds as safe as possible. That’s why we’ve put together this tidy guide, showing how to transfer and store your cryptocurrency in a safe way.

Do I Need a Wallet?

Yes. Yes you do.

Firstly, there’s almost no reason not to create a digital wallet. It takes less than five minutes, costs nothing, and gives you a private place to store your currency which others can’t access. So, apart from the minor inconvenience of losing a few minutes, it’s a no-brainer.

The reason you need a digital wallet – or some kind of private crypto storage – is to increase the safety of your funds. If you leave your coins in an exchange or online crypto casino, and something happens to that company, your funds are at risk.

Why take that gamble? Play it safe and store your coins in a private wallet.

How to Transfer Crypto: Step-by-Step Guide

To start with, we’ll show you how to transfer crypto coins. You can use this guide to move coins into or out of your crypto casino cashier, and ultimately transfer them into your own private wallet. If you already read our guide on how to buy crypto, you’ll remember we used Coinbase as an example, as it’s perfect for beginners. So, we’ll do the same again here. Here’s how to transfer crypto:

1. Log into your exchange. In this example, you’d log into your Coinbase app. This should require 2FA, if you’ve set it up.
2. Tap ‘Transfer’. It’s located at the bottom of the page, next to ‘Buy & Sell’.
3. Select ‘Send Crypto’. There’s also an option to ‘Receive Crypto’, which you can use to send funds to your Coinbase account.
4. Enter your address. Copy and paste your wallet address, which you’ll find in the cashier section of your crypto casino account.
5. Choose a coin to send. You’ll see a list of coins currently available in your account. Choose the one you want to send to your crypto casino account.
6. Select a network. On this page, you’ll be able to see the available networks and their estimated fees. It’s important that you choose a network which the crypto casino supports, not just the cheapest option.
7. Enter the amount. You can type in how much you want to send as a local currency, or choose the number of tokens. Use the little arrow symbol to toggle between the two.
8. Confirm the payee. Coinbase will ask you who you’re sending the funds to. There’s no requirement to be too detailed here.
9. Review the payment. Double check the wallet address, chosen network, and fees. You’ll also see an estimated send time.
10. Tap ‘Send Now’. If you’re happy with everything, tap the blue button to finalise the crypto transfer.
11. Check your email. You should receive a confirmation email outlaying all the key details.

How to Store Crypto: Step-by-Step Guide

You now know exactly how to move your crypto funds from the exchange to the casino and back. But where’s the best place to store them?

Any self-respecting crypto guide will explain that you have to keep your coins in cold storage. And it’s good advice. But it’s not always realistic, especially for smaller transactions. It’s kind of like Googling health tips and realising that eating, drinking and exercising the way you’re “supposed to” would literally consume every waking minute of your day.

Instead, you have to find a method that works for you.

For us, the most realistic way to store your crypto, which doesn’t take a ton of effort, is in a digital wallet.

Our top choice is MetaMask, which is the digital wallet we’ll be using in our examples. Once again, we don’t earn anything if you use MetaMask – it’s simply what we think will work well for beginners.

We do make a bit of commission when you sign up to a crypto casino through one of our reviews, though. So, if you like what you see, that’s how you can sort us out in return.

Without further ado (do people still say that?), here’s how to safely store your crypto casino winnings:

1. Visit MetaMask. You can find a link to the official MetaMask website on their official X page, or type in https://metamask.io

   

2. Download it. From the menu bar, click ‘Get MetaMask’.

   

3. Install it. Choose ‘Install MetaMask for Chrome. If you’re not using Chrome, select the option for the browser you’re using.
4. Add it. Click ‘Add to Chrome’. Then, when you see the pop-up, click ‘Add extension’.
5. Click the jigsaw icon. From here, you can pin MetaMask to your toolbar, making it easier to access in the future.
6. Click ‘Create a new wallet’. You’ll need to agree to the terms first, then create a wallet, and agree to a few more terms.
7. Create a password. Make sure it’s strong, and not the same one you use for other stuff like email or Amazon.
8. Secure your wallet. Trust us, this is a 100% must. You can skip this step for convenience, but it could be a really costly mistake down the line.
9. Write down your Secret Recovery Phrase. It’s 12 random words and is unique to your account.
10. Click ‘Receive’. Now that your wallet is set up, you can check your address, so you can send coins to yourself.

Other Ways to Store Crypto

Of course, you don’t have to use a digital wallet. There are also more convenient, but slightly riskier options. And some which are even more secure.
Here are your other options for storing crypto casino winnings like BTC and ETH.

Crypto Casino Wallet

The zero-effort option is to leave your winnings in your crypto casino account, and that’s what a lot of players do.

If the crypto casino has a strong reputation, it can work out. But issues could arise if something happens to it, like the casino being hacked or having accounts seized.

Is it likely? No. But is it possible? Yes.

You only have to look at major exchanges like FTX or Mt. Gox being hit in the past to see why storing your crypto safely is a smart move, even if it is a bit of a chore.

With that said, we see nothing wrong with leaving some playing funds in your crypto casino. Just don’t leave a massive sum in there.

Cold Storage

At the other end of the spectrum, we have cold storage. This is where you move your coins offline, making it impossible for them to be digitally hacked.

To access cool storage, you’ll need to buy a piece of hardware. Examples include Trezor and Ledger. Once you’ve moved your coins over, you can physically hide the device in a safe place.

This is a really safe way to store your coins and, in an ideal world, this is what we’d all do. But we’re also realists, and know that most of you won’t be bothered moving every penny in and out of cold storage every time you want to hit a few casual slots.

Use your best judgement based on how often you play, how much you have locked up, and how it would affect you if something did happen to your funds.

Top Tips for Storing Crypto Safely

By now, you should be feeling ready to make a crypto deposit, and confident that you know how to safely store any winnings. The finishing touch is to take on a few key tips from our experts, which will help you keep your casino crypto winnings extra safe.

• Use a specific wallet. Digital wallets are free and you can make one in minutes, so why not create one specifically for your crypto casino gaming? This keeps things clean, and has the added bonus of letting you trace the exact amount you’ve bet.
• Use previous wallets addresses. Building on our previous tip, you should try to make use of the ‘Previously used’ section of your wallet. This makes it easy to use the same address again, which decreases your odds of sending coins to the wrong wallet.
• Spread your funds. You don’t have to keep all your eggs in one basket. If you have a spread of a few different tokens, in a few different places like cold storage, a digital wallet, and a small pot in the casino itself, it minimises your risk.
• No photos. Summon your inner Ye (or some other celebrity diva) and keep the paparazzi at bay throughout your crypto journey. If you store anything sensitive on your phone, like your seed phrase or password, then you risk losing everything. Go to the extra effort to write things down manually and you can sleep easy at night.
• Only use trusted crypto casinos. Even if you do everything right, it won’t matter if you’ve used a dodgy casino. Take your pick from our list of the best online crypto casinos and you’ll be in safe hands.

The Bottom Line

There’s no rule that forces you to store your crypto casino winnings safely, so it’s up to you how you want to go about it. The more effort you put in, the safer your funds will be.

If you’re the type of person who’s happy to chuck your savings under the mattress, kiss your finger, point to the sky and hope for the best, that’s fine. We’re not knocking it. And we can totally see the appeal of leaving all of your funds in a crypto casino. It’s much easier and, the majority of the time, it’ll probably work out fine.

But our job is to advise you with all your options, including the safest routes. From here, it’s your call.