Bitcoin has opened the doors for gambling online in a completely different manner than was ever thought possible in the past, but it has also brought with it some new things players need to be aware of. Staying safe when gambling online is pretty easy when using bitcoin, but it does take being attentive to what is going on.
Depositing and Withdrawing After Each Session
Because bitcoin comes with extremely low fees and fast transaction times, most casinos are set up in such a way that you can start on the site with a fresh account (if they even require one), play through some funds, and then withdraw winnings before even leaving the site, such is the case with Bitcoin sports betting platform DirectBet. It is extremely important to capitalize on this ability. While it is a slight hassle from time to time, it helps ensure funds are not being left on the site (which could end up being attacked by hackers, a rogue employee, etc.). It is better to always stay in complete control of money, rather than having a third party handle it. While things usually don’t go wrong, why risk it?
Play on Trusted Sites
Scanning our site will show a lot of different gambling sites and information about them. The best ones to pick out are those that offer provably fair gaming (which is becoming more common in the bitcoin world), as that allows players to verify rolls independently of the site and therefore helps add accountability to the site. In the absence of provably fair games, look for those that are licensed by third parties to operate; while players are not able to observe the verification on their own, it adds accountability from a reputable third party. There are numerous provably fair Bitcoin casinos at present, and the outstanding examples are SatoshiBet and Bitstars, as well as the other platforms using the iTech Labs certified SoftSwiss software.
Create Unique Usernames and Passwords
Bitcoin gambling sites do not need personal information. Those that require email addresses usually do not have a verification system in place. And most do not even require an email, and instead either have no sign up process, just need a password and username, or some other easy method for creating an account. The important thing here is to note that providing personal information opens the doors for being tracked through the bitcoin network. Instead, use usernames and email addresses that have not been used in the past. For example, create new ones specifically for bitcoin gambling. While there shouldn’t be any issues with using the same ones that are used elsewhere, it is always better to be safe than sorry.
Gambling with bitcoin can be a wonderful experience. The cryptocurrency world has opened a lot of doors that previously didn’t exist, and playing it safe helps ensure that money isn’t loss in the process. Following these tips will help ensure the sites you’re interested in are a good fit, while still maintaining full control over your finances.