Updated: July 15, 2022

Coinbase Casinos | Can Coinbase be Used for Gambling?

Venturing into the world of crypto gambling? You might be wondering – how do I deposit and withdraw safely? One of the simplest options for any online crypto transaction is to use a digital crypto wallet, such as Coinbase. 

But can you gamble through Coinbase? And are there any safe Coinbase casinos?

In this article, we’ll go over these questions and much more!

Best Online Casinos Accepting Crypto Payments

Before we talk about specific wallets, let’s look at some of the best crypto casinos of 2022 to spend your BTC, ETH, and more:

Why these casinos? Because we tested and loved them.

Here at Casinos Blockchain, we take pride in delivering experience-backed, player-POV reviews. All three of these casinos are reputable and licensed – plus, they offer stellar game selections and juicy bonuses. That’s how we pick our top casinos and it’s why we’re more than happy to recommend them.

But, the question remains – are these Coinbase casinos or should you look elsewhere? Let’s break it down:

What Is Coinbase?

Coinbase is one of the most popular digital wallets in the industry, and there are plenty of reasons why.

For starters, it’s ideal for beginners thanks to its simplicity and safety. Coinbase makes the entire crypto experience user-friendly and guides you every step of the way. The blockchain community can be gatekeep-y, so it’s a breath of fresh air to see this approach.

Plus:

Another advantage of using Coinbase as your digital wallet is that it’s one of the fastest ways to deposit and withdraw money. This allows you to quickly and smoothly send payments with Coinbase and start your casino journey right away!

Now that you know what Coinbase is, you may be wondering how it comes into play in online gambling. The simple answer is that this is a tool you can use to make your payments swiftly and safely, whether it’s deposits or withdrawals. 

Unfortunately, there is a caveat.

The Coinbase Terms of Service state that users can’t send or receive payments to or from any type of gaming platform. This means that although most online casinos accept deposits and perform withdrawals to Coinbase, by using it you will violate the wallet’s terms.

What could be the consequences of breaking the rules? Worst case scenario, Coinbase may shut down your account due to irregular use.

Crypto gambling sites accept a wide range of cryptocurrencies, but they don’t always accept fiat. To play there, you have to exchange your regular currency for altcoins. Only then can you make a deposit.

This is where Coinbase becomes a very useful tool, even if you decide not to use it to gamble directly!

1. Setting Up an Account on Coinbase

To start using Coinbase for online gambling, you can follow these steps:

  1. Follow our safe link to be redirected to Coinbase (beware of sham websites, posing as the real deal).
  2. Click on “Get Started” on the top right corner of the screen.
  3. Create an account with Coinbase by filling in the necessary information.
  4. Once your account is validated, click on the icon for your account and navigate to “Settings”.
  5. Click on “Payment Methods” and add a new payment method of your choice.
  6. You can now buy cryptocurrencies and store them on your Coinbase wallet.

2. Buying Cryptocurrencies on Coinbase

Now that your Coinbase account is all set up, it’s time to find what cryptos you need for gambling. Not all crypto casinos are created equal – some, like BC.Game, accept 66+ currencies; others only take BTC and ETH. So, pick out an altcoin that your favorite site accepts and follow these next steps on Coinbase:

  1. Click on the “Buy/Sell” button that can be found on the top-right corner of the screen.
  2. Insert the amount you want to buy and select which cryptocurrency you want to purchase on the drop-down menu.
  3. Select the payment method you want to use and click on “Preview Buy”.
  4. On the next page, you’ll see all the necessary information about the transaction, including the Coinbase fee.
  5. Click “Buy Now” to add this cryptocurrency fund to your digital wallet.

You can use your Coinbase wallet to start playing! We’ll explain how to do that below.

3. Making a Deposit at a Coinbase Casino

Using your Coinbase wallet is fairly simple – even if it doesn’t look like fiat payment methods. 

To make a deposit at Coinbase casinos, you first must go to the cashier section of your account. You then have two options to make your deposit:

  1. Use the QR code reader on your Coinbase app and follow the instructions.
  2. Copy the address and past it on the “Send/Receive” section on Coinbase’s website.

Regardless of the option you choose, the deposit will be processed quickly and securely – that’s one of the best things about choosing Coinbase. Just make sure that you select the right cryptocurrency to send. Your funds might be lost if you send Ethereum to a Bitcoin address or vice versa.

Withdrawing Money From an Online Casino with Coinbase

The process to withdraw funds from your online casino account is also super simple and quite similar to making a deposit. Here’s how to do it:

  1. Go to Coinbase and click on the “Send/Receive” button at Coinbase. 
  2. Select the option “Receive” and choose the cryptocurrency you wish to withdraw.
  3. Copy the address that appears on the page and go to your casino cashier.
  4. Select the same cryptocurrency you chose on Coinbase. 
  5. Paste your Coinbase address in the respective box.
  6. Select the amount you wish to withdraw.
  7. Complete the withdrawal process.

Most Coinbase casinos will show the fee they will take from your withdrawal amount, so don’t forget to consider this.

Once you complete the process on the online casino, the funds will be transferred to your Coinbase wallet within a short instant.

One of the best aspects of crypto casinos is that you often have a wide range of altcoins to choose from when making payments. 

Although some smaller casinos only accept Bitcoin and Ethereum, other renowned brands tend to have a long list of accepted currencies. 66+ accepted cryptos at BC.Game, remember?

You must always confirm which cryptocurrencies you can use at the casino – and then use your Coinbase wallet to exchange them.

Some of the most common cryptocurrencies accepted by online casinos include:

  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Litecoin
  • Tether
  • Dogecoin
  • Chainlink
  • Neo
  • Tron
  • Ripple

Top Crypto Casinos By Variety of Coins

Fiat Payments at Coinbase Casinos

While cryptocurrencies are easily accepted by crypto online casinos, the same can’t be said about fiat currencies. More often than not, these types of casinos will only accept deposits and withdrawals of altcoins.

But if you want to make payments using fiat money, there are still some options that you can take advantage of. Casinos such as True Flip and Cloudbet offer players the possibility to make payments with both cryptocurrencies and fiat money.

In these cases, the deposits and withdrawals can be processed through a vast list of payment methods, including credit cards, Skrill, or even PayPal.

We have covered making deposits and withdrawals on online casinos with Coinbase, so the question that remains is: how can I send my money from Coinbase to other payment methods?

The first thing you need to do is convert your cryptocurrencies into fiat money. This can be done directly at Coinbase by:

  1. Clicking on the “Buy/Sell” button and selecting “Sell”.
  2. Select the amount you want to sell and the cryptocurrency you intend to sell.
  3. Choose the fiat wallet you want to use to receive those funds.
  4. Click on “Preview Sell” to see all the information about the transaction, including Coinbase fees.
  5. Select “Sell now” to have your crypto funds in the fiat currency you selected.

The final step of the process is to send your fiat funds from Coinbase to a payment method of your choice. You can do this by accessing your fiat currency wallet (e.g. USD Wallet, CAD Wallet, EUR Wallet) on the “Assets” page, and following these steps:

  • Select the option “Cash Out”.
  • Choose a card from the options available on the menu.
  • Complete the cash out process.

You should receive the transfer from Coinbase into your selected payment method within 30 minutes, however, the processing time might take up to 24 hours.

Pros and Cons of Coinbase at Online Casinos

✅Safety
✅Speed
✅Convenience

❌Against ToC

As with every other aspect of playing at crypto casinos, there are always some pros and cons to using tools like Coinbase.

The main advantages are clear:

  • It’s safe
  • It’s fast
  • It’s convenient

One negative aspect of using Coinbase at online casinos is clear from the platform’s terms and conditions. Under the Prohibited Use section, Coinbase states that the wallet can’t be used for “Gambling: Lotteries; bidding fee auctions; sports forecasting or odds making; fantasy sports leagues with cash prizes; internet gaming; contests; sweepstakes; games of chance.”

Although it’s not very probable that Coinbase actively goes after users who gamble with funds from this platforms’ wallet, the reality is that it might happen. As such, we cannot recommend using Coinbase at online casinos. (Also remember that the IRS is looking at your Coinbase activity – we cover the tax implications in our crypto gambling taxes guide)

Let’s look into other cryptocurrency wallets that accept sending and receiving funds from online casinos.

Coinbase is a user-friendly wallet and exchange. But, gambling is against their ToC. Stay safe by checking out one of these options:

Binance: This crypto exchange is well respected in the digital currencies world, and has a wide offering in terms of altcoins. It offers very similar services to Coinbase, with the exception that it accepts transactions to online gambling platforms.
You can, obviously, use Binance at any BNB casino. Our favorite is BC.Game:

Kraken: This is another excellent option for gambling lovers who want to buy, sell, exchange, and store cryptocurrency. The only important aspect to consider is that Kraken only accepts transactions to or from legal gambling sites, so make sure that you use a licensed casino to play at. Cloudbet is one of the oldest, most well-established options out there:

MetaMask: this crypto wallet works in the same way as the ones mentioned above, and also accepts transactions to and from online casinos. It’s one of the safest options out there, and also offers user-friendly navigation. Stake Casino is a great choice for MetaMask users – but you can find even more ideas in our dedicated MetaMask article.

Other digital wallets and crypto exchanges that might be worth considering include CoinMetro​, KuCoin​, and Luno​.

Final Thoughts

We definitely love Coinbase for their ease-of-use and the general beginner-friendliness. Let’s not kid ourselves. A lot of crypto enthusiasts got their first digital currency from Coinbase.

But does this mean they’re the best option for gambling? Not really.

A lot of people come to us, asking “Is crypto gambling legal?” And the answer is – it depends. However, when it comes to Coinbase, you have more than the country-level legality to worry about.

Sending money to online casinos is against the Coinbase ToC – and it could have some nasty consequences. So, if you don’t want to risk it, we recommend using MetaMask or Binance instead.

Or, you can simply use the on-casino exchange in these top three Coinbase casinos: