Bitcoin Gambling – How to Stay Safe While Gambling with Bitcoin
Online gambling happens to be a great pastime, especially if you enjoy the thrill of casino games. There are many excellent places where you can bet online, but in the recent years, Bitcoin gambling sites have attracted a significant number of passionate players as it can be played at any place and anytime. Players don’t have to go out of their way just to enjoy the thrill of being in a casino.
Bitcoin has revolutionized online gambling in a way that was never thought possible, but it also brought some new dangers players should be aware of. Staying safe when betting on the web is quite simple when utilizing Bitcoin, but it’s important to stay attentive and always be aware of what is going on.
Withdraw After Each Session
Bitcoin gambling sites are set up in a way that allows users to start with a fresh account (if it’s even needed), play for a while and then withdraw winnings directly from the website. This is primarily possible due to Bitcoin’s fast transaction times and extremely low fees.
Capitalizing on this ability is an extremely important thing to do. Sure, it can be a bit of a hassle from time to time, but making withdrawals after each session helps ensure there is no Bitcoin left on the gambling site. It’s always good idea to have complete control over the funds instead of trusting them to a third party (which can get attacked by hackers, employees can go rogue, etc.) Regular withdrawals will keep you safe from these and many other unpleasant events.
Play Only on Trusted Sites
Online scams exist for a long time now, and it happens that scams involving untraceable Bitcoin are favorited among the crooks. Before making a deposit, players should always check the selected site online. Reading reviews and posts on forums can give a clearer picture about the legitimacy of the website. Of course, if possible, it’s always great to get feedback from players that actually used the site.
Going through our site will show a variety of Bitcoin gambling sites and information about them. The best ones to choose are those that offer provably fair playing, which is not that uncommon in the Bitcoin world. That enables players to check rolls independently of the site and adds accountability to the gambling site. If there is no provably fair gaming to rely on, search for those that are authorized by third parties to provide these services; while players are not allowed to watch the verification on their own, it certainly adds more accountability from a reputable third party observer. There are many provably fair Bitcoin gambling sites nowadays who use certified software such as SoftSwiss to ensure everything goes well.
One of the main improvements that Bitcoin brought to the online gambling community is its anonymity. Payments are sent to players or received from players without any information being exposed except their public wallet address, which can be easily changed anytime and is not linked to personal identity.
This means payments are both sent and received without knowing the identity of the players. The anonymity provided by Bitcoin allows players to gamble online in jurisdictions where the gambling is not allowed or is in the “gray zone” legally since locations of online players are unknown. Keeping the identity a secret can help players to remain carefree and enjoy the game. This is particularly important for US players, where the laws are different from state to state and can impose severe penalties.
Make Unique Usernames and Passwords
Bitcoin gambling sites usually do not ask for personal information of any kind. Those that ask for email address usually don’t have a verification framework in place. Also, most of the Bitcoin betting sites don’t require an email at all and even have no signup process. They just require a username and password, or some other simple method for making an account. The imperative thing here is to be aware that giving personal information will allow malicious individuals to follow the user through the Bitcoin network.
Use usernames and email addresses that have not been utilized in the past. For instance, make new ones particularly for Bitcoin gambling sites. While there shouldn’t be any issues with utilizing same ones that are used somewhere else, it is better to stay on the safe side.
Last but not least, we’re going to preach some responsible betting. After all, we’re all here to make some coins, not to ruin our lives. These are a few important rules that should keep you safe:
- Track your progress
Write down every deposit and withdrawal you make during three days. If you lost money every day, maybe it’s time to stop gambling and try something else.
- Gamble with the amount you can afford losing
Playing on Bitcoin gambling sites is a risk, not an investment. Don’t play with the money you cannot afford losing. The amount you start with should be considered lost if you’re planning to keep your head cool.
- If you’re losing a lot decrease your bet
Players usually get the urge to recoup after losing a bet. There’s always a sense that it will turn for the better in the next round. The gambling site doesn’t owe players anything, and chances are you’ll keep losing if you continue. Remember that and decrease your bet (drastically) when you lose a lot of BTC.
Playing on Bitcoin gambling sites can be an enjoyable experience. The world of digital currency has opened many doors and allowed greater freedoms and safety for the players. It also brought provably fair gaming, showing that casinos are not trying to cheat players with rigged games. Simply, Bitcoin is a perfect complement to online gambling.
If you have any questions, post them in the comments, we’re happy to help. Good luck and enjoy gambling with Bitcoin!