Keeping Funds Secure: Bitcoin Safety Tips

Bitcoin Safety Tips

Currently, Bitcoin prices are fluctuating between $650 and $700. That is actually a good price range as Bitcoin can jump by $50 in worth in a day or two. This higher price is good for online Bitcoin gamblers.

A lot of them kept their bitcoins in their bankroll so that they can be used for wagering since they were not worth that much earlier this year. With prices high and constantly changing, players can raise the value of their bitcoins by careful trading and buying. However, this might expose their bitcoins to theft. Here are a few tips for Bitcoin owners who want to keep their bitcoins safe:

Get the deposit address right

One of the features of the Bitcoin network is that transactions are irreversible. This is good for merchants and gaming sites because it would stop chargebacks. The problem is if the bitcoins are sent to the wrong address by the player. This means that someone suddenly received some free money. People may scoff at the idea, but considering the long hexadecimal addresses, it can possibly happen. It is recommended that players check the wallet address they are sending the payout to before clicking confirm on their withdrawals.

Deposit Address

Be careful of unsolicited emails

Emails are an important part of daily life nowadays. Important messages are sent to and from across the Internet. However, it is unwise to open emails from random people. This is because a lot of hackers nowadays are embedding macros in such emails that can lead to spyware installing on to a computer. Bitcoin gamblers have a lot more to lose since they can end up losing their passwords and user accounts. Besides from opening the emails, players are also advised to not open attachments and links from

Keep information confidential

Passwords are supposed to be secret. Spreading them around is often the reason data thieves learn about them. Players should never share passwords with anyone for any reason.

unknown sources to avoid similar results.

Use two-factor authentication

Most accounts, both for gaming sites and Bitcoin wallets, usually ask just a single password. However, if a player really wants a secure account, then they would be better served by two-factor authentication. This means that an account uses two confirmations of identity. It can be a combination of a password and a question or something similar, but having a second layer of defense will always be useful.

Two-Factor Authentication

Use official mobile apps only

Some Bitcoin wallets can be used on mobile platforms. It is recommended, though, that the official apps are used and not just using mobile browser access. This adds another layer of protection over the access of the site.

Do not use unsecured networks

Free WiFi is a great gift. However, this means using a network that often has no passwords or data protection. Hackers can easily enter them and access anyone currently using the network. Players should only use these networks for non-confidential and non-critical work so as to protect their data.

Chris Evans

Chris Evans

A passionate adherent of the casino industry, Bitcoin has changed Chris’ life. Now, aside from working as the Business Development Manager of Bitcoin Gambling Guide, he spends his time working on new ways to help the cryptocurrency community as well as the online gambling industry. He regularly stays updated with the latest trends in the Bitcoin gambling market to continually gain insights and clearer perspectives on the path the digital currency is taking. Included in his mission to forward the market is his personal goal to share worthy and unique ideas that will pave the way for more innovations and developments. If not preoccupied in juggling with his duties, Chris devotes his time betting in Bitcoin casinos. Who said it’s impossible to work and play at the same time?

More from author
Back To Top
Cryptocurrency Prices by Coinlib