Player safety is important regardless of the context, but what puts it at greater risk is when new technologies are brought into play and the old certainties of the past are reshaped as a result.
Gambling on casino sites which accept Bitcoin and other cryptocurrencies is the ideal example of this. While blockchain-based payments promise both anonymity and security, there are still ways in which mistakes can be made.
Let’s look at a few steps, strategies and solutions which can bolster the safety of Bitcoin gambling, without compromising the quality of the player experience.
Understand the type of casino you are playing at
When reading up on all you ever wanted to know about Bitcoin gambling at AskGamblers, one of the main takeaways has to be that there are two main types of crypto casino out there, and knowing the difference between them is the first step to playing safely.
The first are Bitcoin-only casinos, which not only let you make deposits with cryptocurrencies, but also have games which are paid for, and pay out in, crypto. In this instance, Bitcoin is treated exactly like fiat currency in a typical online casino.
The second are hybrid casinos, which do support deposits and withdrawals in Bitcoin, but will require you to convert this into a standard currency for the purposes of playing games on the site.
This is usually done as a measure to protect casino operators from the volatility of crypto prices, and also to allow legacy games to be maintained, while newer, crypto-supporting titles are being worked on.
Look for legitimate, reputable crypto casinos
The current explosion in the popularity of cryptocurrencies has brought with it a lot of attention from scammers.
Every type of coin going at the moment seems to mention Bitcoin, Ethereum, Dogecoin and other top cryptos, because they know that this will grab the attention of their intended victims.
Because of this, it is crucial for people who want to get into Bitcoin gambling to make sure that the sites they use are legitimate.
This is harder than it sounds, because gambling with crypto remains unregulated. As such, your best bet is to identify sites that are licensed and operated in parts of the world where online gambling is above-board and rigorously regulated.
In the US, residents and visitors to a growing number of states, including New Jersey, can play online casino games.
Not all sites accept crypto deposits, so you might need to manually convert your earnings to fiat currency in order to play. However, this is better than taking a risk on a lesser-known, unregulated site that could be out to scam you.
Choose secure login details
Even if you are confident in the legitimacy of the online Bitcoin casino you pick, and trust that it will do its utmost to protect your funds and keep your information private, a common weak link in the security is the login details that users choose.
Most importantly of all, you need a secure, unique password that you do not use anywhere else or have associated with any of your other accounts.
Modern web browsers including Chrome and Firefox feature password auto-generation features, and can store the login information for you, which is a convenient way of getting around this.
It is also worth looking into whether or not your email address, personal information and passwords have been compromised in any previous hack or breach.
Even if this occurred on an entirely separate site, they could be floating around the dark web, and thus more vulnerable to exploitation.
If in doubt, create a fresh email account that is solely designed for use in combination with the services that require the prioritization of security, such as Bitcoin gambling sites.
Keep your personal information to yourself
A number of online casinos allow customers to communicate with one another as they play, replicating the social side of visiting a real-world venue.
This is good fun and adds to the atmosphere, but does raise the risk of encountering nefarious characters who are intent on scamming innocent victims.
As with any online service that lets people chat anonymously, you should never hand over personal information to others when gambling at crypto casinos. Even if you think that you have grown to know and trust your counterparts, it is simply not worth it.
Fraudsters have developed surprisingly advanced social engineering techniques in recent years, and so it is wise to be wary of anyone who asks you for things like your login details or even facets like your age, location, date of birth and so on. This could lead to identity theft and other forms of exploitation.
Use a secure connection
Security-conscious people should generally steer clear of ever using a public wireless hotspot, especially for something like Bitcoin gambling or any type of transaction where sensitive information is being sent and received.
Using a secure, private connection, preferably with a wired setup rather than through Wi-Fi, is a good step from a safety perspective, as you never know who might be trying to intercept and interfere with data when it is broadcast in any other context.
Consider how you store your crypto
In order to deposit or withdraw Bitcoin from a casino site that supports it, you will need to have a crypto wallet to house it in the first place.
Traditional hardware-based wallets are all well and good, but it is more common for modern users to turn to digital wallets, either associated with specific applications or housed on the servers of an exchange like Coinbase or Binance.
Whichever route you take, make sure that security is at the forefront of your mind when handling your crypto, and also ensure that the wallet you are using is actually compatible with the gambling site you are considering.
We are still very much in the early days of the crypto boom, so don’t worry if it takes a little while to get your head around Bitcoin gambling, as things are getting easier by the minute.
