How to Safely Gamble on a Crypto Casino?
Crypto has reached a point where it is a surprise when somebody has never heard of it. These days, over 400 million crypto enthusiasts hold and use crypto to complete various online activities.
And if you are wondering why crypto became so popular so fast, it is mostly because of the benefits this technology brings to the table. Decentralization, safety, security, transparency, and speed, all of these are just a small part of what crypto comes with, and online users could not be more eager to experience the big change crypto made.
And while crypto is extremely safe and transparent, users usually should make sure that their assets and personal information are safe, as there are plenty of scams developed only to steal information, and once you lose a piece of information, it is extremely difficult to get it back and ensure that it is not spread all over the internet.
Keeping your information and assets safe is also recommended when gambling on a crypto casino website. And in this article, we will talk about some security tips for crypto gambling.
What Is Crypto Gambling?
Crypto gambling is pretty similar to traditional gambling, meaning that you can wager in various gambling games. The main difference is that instead of betting with fiat currencies, you use crypto coins and tokens for wagering.
Besides, crypto gambling is safer than traditional online gambling, considering that the platforms specially developed for this practice are built based on blockchain technology and, therefore, are decentralized.
What Is a Crypto Casino?
A crypto (or Bitcoin) casino is an online platform where users are allowed to play gambling games and bet with cryptocurrencies. Usually, crypto casinos are available almost worldwide, but it strongly depends on each country’s regulations, as some countries do not allow their citizens to hold or use crypto.
Generally, crypto casinos provide from hundreds to thousands of games, starting with the classics, such as dice, roulette, blackjack, poker, or slots. Besides, many platforms ensure they offer users some game variations and other intriguing games they can play to win crypto.
In what concerns the cryptocurrencies supported, most crypto casinos support widely-used coins and tokens such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), or Dogecoin (DOGE). However, there are many platforms that support surprisingly more cryptocurrencies.
Tips for Safe Crypto Gambling
Some might say that crypto projects and platforms are extremely safe and cannot be attacked. And they are not entirely wrong. When compared to other types of platforms, crypto projects win in what concerns safety and security. However, bad things can happen, and while you trust the platform you use, it is vital to also ensure you do everything possible to keep your personal information and digital assets safe.
Choose a Licensed Casino
Crypto casinos can be either licensed or unlicensed. There is no in-between, and gamblers are usually advised to choose licensed platforms. A Bitcoin casino that is licensed by a specialized institution will be significantly more trustworthy than other platforms.
Usually, crypto companies pay tens of thousands of euros to get a gambling license, and it is almost impossible that you will find a scam that paid that much for a license.
Licensed crypto casinos have multiple advantages, such as the fact that they are available to a bigger user base, and there is a smaller possibility that they will be involved in lawsuits or scandals, considering that they operate entirely legally.
Play Provably Fair Games
As we mentioned before, crypto casinos usually provide hundreds or thousands of gambling games, but they can be divided into 2 main categories: provably fair and non-provably fair games. And the options you should look for are provably games and a Bitcoin casino that offers them.
Provably fair games allow users to verify the fairness of their bets, meaning that crypto gamblers can ensure that the Bitcoin casino does not have any way of cheating them, considering that the game is transparent, verifiable, and provable.
Provably fair games come with great benefits, such as high levels of transparency, a better user experience, privacy, and many more. And while they can benefit users, they can also be great advantages for crypto casinos, as users will stay even closer to a platform after learning that it offers provably fair games.
Choose a Platform that provides thorough Security Settings
Just like any other type of crypto project, crypto casinos can assure their users are safe when gambling on their websites. While crypto wallets provide great security features in order to protect users’ digital assets, Bitcoin casinos also have to protect gamblers’ rewards, deposits, and personal information.
This is why it would be great to choose a crypto casino that provides 2FA (Two-Factor Authentication) and requires a strong password when signing up. Besides, you can check various reviews in order to ensure the crypto casino is trustworthy and puts its users first.
Always Double-Check Withdrawal Settings
While you make sure that your assets are safely stored on a Bitcoin casino platform, it is also critical to make sure that when you withdraw your winnings, you do that in the right place. Keep in mind that, generally, when you lose crypto, it is forever lost. Most crypto projects do not assure refunds.
Moreso, if the crypto withdrawn from your crypto casino account reaches the wrong public key, your will most probably never see your winnings again. Thus, it is extremely important to double-check the withdrawal settings before proceeding to withdraw the crypto you earned through gambling on the crypto casino.
Crypto has become increasingly popular over the past years, and the main reasons for that include the benefits it provides, such as transparency, safety, security, decentralization, and many more.
Still, when interacting with a crypto project, it is important to ensure that your personal information and digital assets are safe, as crypto platforms can still be hacked or attacked. And this also happens in the crypto casinos’ case.
If you aim to gamble on a crypto casino website, some of the best tips to take into account are using a licensed casino, playing provably fair games, checking if the crypto casino offers strong security settings, and always checking your withdrawal settings.