The cryptocurrency industry has experienced a rapid worldwide expansion over recent years. At the same time, the iGaming business has been flourishing, too. Since they are both a part of the ever-growing digital realm, it was only a matter of time when their paths would cross.
As more players show interest in cryptocurrencies, more gambling sites introduce them as a payment option, and Filipino online casinos don’t lag behind this global trend. However, altcoins are a relatively new phenomenon, and most people don’t know much about them. Due to the rising interest in the crypto sphere, we’ve dedicated this article to all Filipino players who want to know more about buying digital currencies and using them in online casinos.
The first thing you need to know about purchasing altcoins is that you can only get them by visiting a digital exchange office. In this article, we’re going to inform you about one of the best crypto exchanges out there — OKEx.
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What Is OKEx?
OKEx is a well-established cryptocurrency exchange offering crypto-to-crypto and fiat-to-crypto services. It was founded in 2014 by Star Xu, an investor who also created the OKCoin exchange a year before. Nowadays, OKEx operates in more than 100 countries, and it’s one of the largest crypto exchanges in the world.
With this digital asset trading platform, you can buy altcoins with more than 30 fiat currencies. Filipinos will be glad to hear that the Philippine peso is included in this list. So let’s cut to the chase and explain how this exchange functions.
How to Buy Crypto at OKEx
If you want to play in online casinos using cryptocurrencies, you need to buy them first. To do this, you’ll have to open an account at a crypto exchange.
We’re going to show you how to purchase altcoins using one of the best exchanges in the industry — OKEx. You will learn everything you need to know about this process in the following guide:
- Register your OKEx account — Visit OKEx’s official website via your browser, and click on the Sign Up button located at the top right corner of the page. To complete the sign-up process, you’ll need to enter your e-mail and choose a strong password. Then, click on the Sign Up tab at the bottom of the pop-up window. In the next pop-up, you’ll be asked to perform a quick check that will prove you’re not a robot. Finally, you will need to enter the 6-digit verification code sent to your e-mail.
- Verify your OKEx account — Once you’ve registered, hover your mouse over the profile icon at the top right of the screen, hit the Verification tab, choose Individual Account, and click on the Continue button. You’ll be asked to fill in the following information — your nationality, first and last name, ID, and ID number (you can choose between the ID card, passport, and driver’s license). Click on Submit and then go to Continue Lvl2 Verification. In this step, you’re required to take a photo of both sides of your ID. Then, you will need to take a picture of your face to confirm your identity via facial recognition software. Now you’re all set to buy cryptocurrencies at OKEx.
- Buy crypto at OKEx — Log in to your account and click on the Buy/Sell button. Go to Buy, select your preferred fiat currency (PHP is an available option), and the crypto you want. You can complete the purchase using Visa, Mastercard, Instapay, PayPal, Google Pay, and a bank transfer. Once the payment is confirmed, the crypto you bought will reach your OKEx account.
How to Make Deposits in OKEx Casinos
Once you’ve bought your altcoins, you’ll be ready for the next step — depositing and playing in Filipino crypto casinos. Although this process requires a bit of prep work, our guide will help you find your feet. Here’s what you need to do:
- Download a crypto wallet — There are a lot of crypto wallets out there, so we recommend going for the safest, most widely used ones. Once you download and set up your wallet, you’ll get a unique address that can be used for sending and receiving cryptos.
- Send the altcoins to your crypto wallet — Visit your OKEx account, go to Assets, select Transfer, and copy the address of your crypto wallet.
- Go to a crypto casino — Once you’ve got coins in your wallet, you can visit Filipino crypto casinos. Some of the best ones are featured on this list.
- Visit the cashier — Go to the Deposit page of the casino and select your chosen cryptocurrency as a payment method. Copy the casino-generated address and the amount you want to transfer, and confirm the payment. The crypto should reach your account balance almost instantly. Now, you’re finally ready to play!
How to Withdraw in Filipino Crypto Casinos via OKEx
If you want to turn your crypto winnings into real money fast, you can do so in any casino that supports OKEx’s services. You only need to complete the following procedure:
- Visit your OKEx account, go to Assets, and select Deposit.
- Select the cryptocurrency you want to withdraw from the casino to OKEx.
- Copy the crypto address located near the center of the screen.
- Go to the Cashier page of your chosen casino, hit the Withdraw tab, and select OKEx as the payment method.
- Paste the address you copied from OKEx, confirm the payment, and wait for the transaction to complete.
- Go to OKEx, hit the Buy/Sell option, select Sell, and then P2P Trade. Next, go to Management and find the Payment Settings tab in the Settings section.
- Once there, select Receiving Account and then click on +Add More.
- Add your preferred payment method for receiving fiat currency in exchange for cryptos.
- Select the fiat currency you want to get in exchange for your altcoins.
- Choose an advertiser that will buy your coins. Pay attention to whether the buyer is verified. The stats shown under the advertisers’ names indicate whether they are trustworthy buyers.
- Place your P2P order, wait for the payment, and confirm it by releasing your crypto.
- Enjoy your crypto winnings converted into real money.
Advantages of Using OKEx
This crypto exchange wouldn’t be one of the largest in the world if its pros didn’t outweigh its cons. Let’s list the three main advantages for Filipino players:
- Safety — OKEx goes out of its way to ensure its customers enjoy safe transactions. The user’s private keys are kept in a temporary memory file, which makes OKEx virtually unhackable. Its extensive authentication methods promote verified advertisers, which means it’s fairly safe to buy cryptocurrencies this way. The company is regulated by the Malta Financial Services Authority, which is a reputable institution that makes sure no scams are allowed.
- Fiat currency selection — Having the option to buy cryptos with over 30 fiat currencies is one of the greatest assets of OKEx. A good reason to choose this payment method is the fact it supports PHP.
- Withdrawal fees — OKEx offers one of the most favorable and competitive withdrawal fees set at 0.0005 BTC for Bitcoin, 0.15 XRP for Ripple, and 0.01 ETH for Ethereum.
Disadvantages of Using OKEx
The main disadvantage of OKEx is its complexity. Beginners won’t find navigating the website easy, and its how-to guides are a bit confusing. On top of this, setting up an account to buy cryptos might take a lot of time.
Although the demanding authentication process ensures secure transactions, it is tiresome for most customers. Luckily, customer support is there to clear things up.
Available Games in OKEx Casinos
You can play any game that allows cryptos as a payment option. Poker, blackjack, baccarat, roulette — just deposit the coins you bought at OKEx and start enjoying your favorites!
OKEx Casinos Bonuses and Promotions
Bonuses and promotions depend on the specific cryptocurrency you’ve purchased. Since Bitcoin is a well-established currency, most crypto casinos offer lush bonuses for it. However, some gambling sites focus on other coins such as Ethereum, Litecoin, Ripple, and more.
Make sure to check the casinos’ offers for each altcoin before deciding to buy one.
OKEx Mobile Casinos
Crypto casinos are the latest innovation, so they’re surely up to date when it comes to mobile compatibility. Also, OKEx has a mobile app, so you can withdraw and sell your winnings while on the go.
Final Thoughts
OKEx is one of the most widely recognized cryptocurrency exchanges in the world. It’s safe, it supports PHP, and it offers favorable withdrawal fees. One thing is certain — Filipino players won’t be disappointed if they opt for this payment method.