Best Crypto Wallet for Sports Betting – Top 7 Secure Options

Using the best crypto wallet for sports betting offers a host of benefits for gambling enthusiasts, including anonymity, low fees, and fast transactions. However, finding the best crypto wallets requires a fair bit of research, which is where this article comes in.

If you’re in the market for a crypto wallet to make your sports betting a safer and more enjoyable experience without the need for know-your-customer (KYC) procedures, you’ve come to the right place. Here, we’ll cover both hot and cold wallets so that you can make the best decision for your betting needs. Let’s get into it.

Best Crypto Wallets for Sports Betting – Overview

Do I Need a Crypto Wallet for Sports Betting?

While a crypto wallet is not a necessity when it comes to sports betting, it does come with great benefits that make the betting experience more convenient. These benefits include anonymous betting, increased security, and lower transaction fees.

However, one of the more beneficial aspects of using a crypto wallet for sports betting is the speed at which the transactions take place. As you know, betting on a sporting event requires fast thinking and even faster deposits to sportsbooks, especially for play-by-play bets.

This way, you can deposit the exact amount you want to bet while keeping the rest of your funds secure in your crypto wallet. Some sportsbooks even allow you to link your wallet directly, enabling seamless bets straight from your holdings. If you’re looking to expand your portfolio, consider exploring the best crypto to buy now to maximize potential returns while maintaining a secure betting strategy.

The Best Crypto Wallets for Sports Betting Reviewed

Now that we’ve gone through some of the benefits of using a crypto wallet to enhance your betting experience let’s take a deeper look at 7 of the best wallets for sports betting.

1. Best Wallet – Equipped with an Integrated iGaming Feature

Best Wallet is a non-custodial crypto wallet that encrypts your private keys on your own device, giving you, and only you, complete control over your crypto funds.

This top crypto wallet also employs industry-standard security measures such as two-factor authentication (2FA) and biometric verification for even more protection against online threats.

This crypto wallet is great for sports betting thanks to its integrated iGaming dashboard that gives you access to platforms like Lucky Block, WSM Casino, and Coin Casino.

Furthermore, Best Wallet allows for top-tier deposit bonuses and reduced fees when you decide to withdraw your funds. However, if you’d like access to these benefits, you’ll need to hold $BEST, the utility token behind Best Wallet.

With that being said, Best Wallet has been optimized for fast-paced betting, making it a perfect companion for fast deposits and withdrawals. And with no KYC requirements, you can safely place your bets anonymously.

Currently, Best Wallet only supports Ethereum, Bitcoin, BNB, and Polygon, but it has plans to support more than 60 different blockchains, which will make it a convenient way to manage your crypto assets while also having the choice of which currency to use when placing your bets.

2. Zengo – A Top Wallet with Multi-Party Computation for Eliminating Seed Phrases

Zengo is another popular non-custodial, hot wallet that is characterized mainly by its security measures. It utilizes multi-party computation (MPC), which eliminates the need for seed phrases. Instead, the wallet’s security is distributed between your device and Zengo’s servers.

Moreover, while not mandatory, Zengo employs a 3-factor authentication (3FA) recovery kit in case you accidentally delete the app or change your device. This ensures you never lose access to your crypto funds, regardless of what device you decide to place your bets on.

Zengo also supports more than 380 cryptocurrencies that are often used in casinos like Mega Dice, including $BTC, $ETH, and $USDT, to name a few.

It also gives you the ability to separate your crypto funds by creating up to five crypto wallets within its app. This makes Zengo one of the most versatile crypto wallets for sports betting around.

And finally, thanks to its mobile-first design, you can make deposits and withdrawals on the go, allowing you to take full advantage of the fast-paced world of sports betting.

3. Cypherock – Innovative Crypto Wallet That Decentralizes Your Private Keys to Boost Security

Cypherock is a hardware wallet that enhances your private key’s security by decentralizing it across multiple pieces of hardware, namely four cards and one vault. It takes this key and splits it into five separate seed phrases using Shamir’s Secret Sharing algorithm (SSS).

Each part is then stored on one of the four encrypted NFC cards, with one part being stored on the vault itself, making it very resilient against hacks and other potential threats. This makes it an appealing solution for high-stakes environments like sports betting and online gambling.

Not to mention, the built-in redundancy means that if you lose one card, you’ll still have access to your crypto assets and gambling funds. The only downside is that you’ll need to have this wallet on your person if you want to interact with your crypto assets at any time.

However, with the ability to verify and sign transactions offline, you can quickly access your funds, which makes placing bets more convenient than ever before.

With support for over 9,000 cryptocurrencies and alt-coins, including $TGC, $BEECASINO, and $BOXCASINO, Cypherock is a top solution for a diverse range of betting platforms. In fact, Cypherock promotes itself as the best blockchain betting ($BCB) hardware wallet.

4. Margex – A World-Class Trading Platform with a Built-In Crypto Wallet

Margex is a crypto trading platform with an integrated custodial crypto wallet. The fact that it’s a custodial wallet means that it wasn’t designed to hold your crypto assets for a long period; rather, it’s best used to facilitate your crypto trading efforts.

It also gives you the ability to trade over 55 other crypto assets, including $TRON and $BCH. These are among the more popular payout currencies at crypto casinos like Cloudbet and Bitstarz, and they’ve employed a zero-fee conversion rate which means you won’t be charged any additional fees when converting your crypto assets.

Now, regarding security, Margex keeps your crypto funds secure via cold storage methodology, which simply means that they are kept offline, which reduces the risk of hacking and other dangers.

They also use advanced encryption methods like SSL for secure web traffic, and while it’s not mandatory, you are encouraged to enable two-factor authentication (2FA) for more secure transactions.

For added convenience, you can create a whitelist with all the addresses you interact with while placing bets. In other words, you can specify exactly which address receives crypto funds, which makes sending bets to betting platforms more convenient.

5. Ledger Stax – A Premium Hardware Wallet to Store Your Betting Funds and Facilitate Transactions

Ledger Stax is the new premium hardware wallet from Ledger, a household name in the crypto wallet space. It’s the first hardware wallet to incorporate a Secure Element (SE) chip, which is EAL5+/EAL6+ certified, giving it top-notch security and giving you peace of mind knowing your betting funds will be kept safe from hacks and unauthorized access.

This flagship crypto wallet has a large built-in screen that displays all your crypto-related information in a detailed manner, allowing you to view and manage your crypto portfolio in real-time and on the go.

That means that without needing to use a PC or other hardware, you can easily transfer crypto assets like SBET to betting platforms that accept cryptocurrencies using Leger Live directly on the Ledegr Stax, allowing for fast and convenient transfers, which is important for online gambling and play-by-play sports bets.

For those who like to collect NFTs related to sports, you can customize the curved E-Ink display with your favorite pieces, making it easy to deduce which one has your betting funds on it if you have more than one Ledger Stax.

6. Tangem – A Sleek Credit Card-Style Crypto Wallet with NFC Technology

Tangem has a unique approach with its crypto wallet. Similar to Cypherock, Tangem is a cold wallet that comes in the form of plastic credit card-style wallets.

It supports over 6,000 different cryptocurrencies and up to 70 blockchain networks, and it can be used to buy, sell, swap, and stake your crypto assets. This puts it up there with some of the best Bitcoin wallets for sports betting around.

Interestingly, you can opt to have one of the three cards replaced with the world’s first ring-shaped hardware wallet, ensuring portability and convenience, not to mention style.

Thanks to the integrated Near-Field Communication (NFC) technology, Tangem facilitates quick and secure transactions, which ensures bettors are able to deposit funds into betting platforms that accept crypto in a timely manner. A simple tap allows you to capitalize on the fast-moving pace of the sports betting world.

Upon activating your Tangem wallet, a private key is generated within its tamper-proof chip. This ensures your private key stays offline and away from online threats and unauthorized access. For those betting with large amounts of funds, this is a vital security feature.

7. Ellipal – The World’s First Air-Gapped Crypto Wallet

Ellipal is an air-gapped cold wallet that executes transactions by scanning QR codes. This ensures the wallet is never connected to the internet, which boosts security and keeps your betting funds away from hackers and bad actors.

Like the Ledger Stax, Ellipal uses a certified chip, similar to the one you’d find in a bank card, which further guards your crypto wallet against hardware-based attacks. This, combined with the fact that it remains completely offline, makes Ellipal a very secure wallet and a great option for storing your crypto-betting funds.

Moreover, Ellipal allows you to store over 10,000 coins and tokens across more than 40 separate blockchains, allowing you to manage not only your sports betting funds but an entire portfolio of digital assets on a single device.

In regards to placing your bets on sporting events, cold wallets are very good at keeping your funds secure but often require extra steps in order to capitalize on the fast-moving pace of the betting world. Ellipal is no different in this regard.

With that being said, you can plan ahead by sending your decided betting amount to a betting platform beforehand. Simply navigate to your preferred betting platform, transfer your funds using the QR code, place your bets, and send any potential winnings back to the secure Ellipal wallet for safekeeping.

How to Choose the Best Crypto Wallet for Sports Betting

If you’re in the market for a crypto wallet you can use in your sports betting efforts, there are a few aspects you should keep an eye out for.

• Security – Look for a wallet that has top-level security measures like multi-factor authentication. This could be 2FA or even 3FA. Hot wallets offer convenience. However, cold wallets keep your private keys offline and away from potential breaches and bad actors.
• Transaction speed – Placing bets requires fast thinking and speedy transactions. This means a wallet needs to be able to accept withdrawals and deposits quickly, especially if you place bets on live events.
• Supported cryptos – Wallets need to be able to support most of the top trending cryptocurrencies that are accepted at various trading platforms.
• Compatibility – For added convenience, crypto wallets that are used for sports betting should be compatible with sportsbooks so that you can send your betting funds directly to those platforms from your wallet.
• KYC policies – If you’d like to place bets anonymously, look for wallets that don’t require KYC. This allows you to protect your identity online.

These are the factors we look into when creating our list of the best crypto wallets for sports betting.

How to Use a Crypto Wallet for Sports Betting

Using a crypto wallet to place bets on sporting events is actually easier than you’d expect. Below, we’ll be going over how to do this using Best Wallet as an example.

Step 1 – Download and Install Best Wallet

Navigate to the Best Wallet website and click on one of the two download options toward the bottom of the page.

Alternatively, you can click on ‘Download Best Wallet’ and scan the QR code that appears. Note that Best Wallet is only available on mobile.

Step 2 – Set up Your Wallet Account

Once you’ve completed the download, follow the simple prompts to set up your Best Wallet account. This typically only requires an email address.

Next, you’ll be asked to set up an access pin and activate other security features, such as biometrics and 2FA.

Step 3 – Add Funds to Your Wallet

You’ll have two options here. The first one will be to purchase crypto directly within the app using your bank card.

The other option is there for those who already have crypto assets saved in another wallet. Best Wallet allows you to send crypto funds to the Best Wallet app via the ‘send option.

Step 4 – Access The iGaming Interface and Connect to a Sportsbook

To access Best Wallet’s iGaming integration, simply tap on ‘Apps’ in the bottom banner of the screen. This will show you all the iGaming options where you can place bets. Select one you like and follow the prompts.

In this example, we’ve selected Mega Dice, a well-known sportsbook.

Step 6 – Place your Bets

With all that out of the way, all you need to do is send some betting funds to your chosen betting platform and place your bets. If and when you’ve won a bet, enter your wallet address and the betting platform and withdraw your winnings.

Findings

Finding the best crypto wallet for sports betting shouldn’t be a tricky endeavor, however, if you don’t know what to look out for, it can be tough deciding which is best for your needs.

If you prefer to capitalize on the fast pace of the sports betting world, then hot wallets like Best Wallet and Zengo are for you. They connect to the internet and integrate directly with betting platforms, which makes placing bets more convenient, not to mention the speed of the transactions.

However, if you would rather prioritize security at the cost of transaction speeds, then perhaps take a look at cold wallets like Cypherock, Tangem, Ledger Stax, and Ellipal. While these wallets don’t directly integrate with betting platforms, they make it easy to store your betting funds safely and out of reach of any potential mishaps and security breaches.

With that being said, placing bets on sporting events or gambling online is always a risky game. In other words, a good rule of thumb is to never bet more than you’re willing to lose.

Furthermore, while the wallets in this article are all reputable, you should always do your own research (DYOR) before making any commitments.

Frequently Asked Questions About Crypto Wallets for Sports Betting