Is Gambling With Bitcoin Safe?

November 24, 2021 by No Comments

Gambling, when is it safe? If you know anything about gambling then you would know that there is not one thing about it that is safe! Gambling has been a way of searching for luck all these years. It is a game against all odds that require a bit of skill, knowledge and plenty of luck. Gambling evolved a lot over time and the ways you could enter a game of poker or slots evolved as much. In the old days, it was required that you have some money in your pocket and that you know where the game was played and that was it.

Now you have all these casinos available to you and until recently you had to carry some cash with you as well. With the evolution of technology and the recent nuances in the form of a global pandemic, we saw an avalanche of online casinos that don’t require you to leave your home to gamble. What is even more interesting is the fact that you have an online casino that is made as a virtual reality where you can gamble with your friends who are miles away from you.

It is all made to replicate the state we are all accustomed to and to make us more comfortable. Don’t get us wrong this is not all that bad. Thanks to internet and technology development we all have several ways of gambling that we have grown to like. Online casinos have been with us for a while and a traditional way of gambling in them was to register at a certain casino, open an account, transfer some money and choose your favorite game. That was it.

Thanks to a lot of bad people several casinos started having problems in a form of identity thefts, credit card numbers being stolen and general information leaking everywhere. This has made a lot of players feel uncomfortable and give up online betting. It was made to seem that on land gambling with a huge sum of cash in your pocket was a lot more secure. But again as time progresses we have new things and options available to us.

Source: europeanbusinessreview.com

Enter the online crypto casinos. Cryptocurrency is a rage for some time now and everyone wants a piece of that action. The main reason for its popularity is its advertised security, anonymity and decentralization. All these terms are there to make you feel and be safer in an online world. No matter how much technology progresses and how good it brings there will always be people who are willing to make a good thing seem like a bad one for personal reasons or gains. This is why crypto has become so popular.

If you are a crypto holder then you and your funds are untraceable and secure from hackers and baddies in general. With your crypto, you can do whatever you like and no one will be able to track you or attack you. You can even gamble without being afraid that your info, your cash or whatever else might disappear overnight.

So, we mentioned crypto casinos, and regular ones for that matter, as places where you can gamble with your cryptocurrency. Whether you have Bitcoin, Ethereum or any other big coin you can easily enter one of these casinos and play. The process of registration is easy and it mimics the process of registration in an online FIAT currency casino. All you have to do is enter your general info and your Bitcoin, Ethereum or any other coin address, transfer funds to your account and play. 

What is interesting is the fact that crypto casinos are a bit more fun than regular online ones. You have a plethora of new games like bitcoin lightning baccarat, you have old games with a new spin to them, all in all, you have a lot more things to do and a lot more that draws you in constantly. We also have to make one thing clear, you have two types of casinos in which you can gamble with your crypto – pure crypto casinos or regular online casinos that take payments in crypto but transfer them into a certain FIAT currency that is accepted in your region. 

Source: europeanbusinessreview.com

Now if we are about to discuss the safety of gambling as an activity you are not safe meaning you will lose much more than gain over long periods. Gambling, as we stated in the beginning is a game of pure luck and your fight against odds that are never fully in your favour. The house always has an edge in the long run. If we are discussing your safety in ties with crypto/Bitcoin gambling then you are safe. This way no one can track you, your funds or your information online. This is one of the benefits of cryptocurrencies. This is all true, though, only if you choose the right online and crypto casinos. 

Besides all the scams in the regular casinos, we also tracked a lot of scams in the crypto casino world. Since it is a highly unregulated area and since it is hard to track certain casinos and their owners are trying to take advantage of that for their benefit. If you know a certain casino is bad, a good thing to do is report them and steer clear of them as far as possible.  If you are in a search of a good casino there are a few things you can check for yourself.

Information about license, odds, house edge on all or certain games should be displayed on their about page or at the bottom of the site. The bonuses and free games they offer should be explained in detail and you should know and be familiarized with all of their terms and conditions. If only one of these things isn’t displayed or can’t be found anywhere on the site, there is something fishy about it and we suggest you avoid them. If you manage to find all the legal “paperwork” and all these things then that casino is transparent and regulated as much as it can be given the branch it operates in.

So to conclude the article gambling isn’t safe at all and you should always gamble responsibly, which is the thing any respectable casino will warn you about immediately. Never spend and gamble with more than you can afford and always limit yourself in certain ways. Online casinos that use cryptocurrencies are a lot safer than the regular one given the fact that you find one that is legit and to some extent regulated. That is all from us, happy hunting and best of luck to you!

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