Like in real life, it pays to protect your wallet. It holds your money and cards, and if it gets stolen or you lose the wallet, it can be a highly inconvenient situation. For example, imagine you're in line to pay for the grocery and suddenly discover that you have lost your wallet!
Well, the same rule applies to your Bitcoin or crypto wallet. If you're planning to gamble using Bitcoin or other cryptos, securing your wallet and your funds is crucial. Remember, you'll miss a lot if your account gets hacked or your coins are stolen.
The good news is that blockchain technology allows you to be in control of your coins. If used correctly, Bitcoin and crypto can provide high levels of security. It pays to adopt good practices to protect your money when gambling online as a responsible Bitcoin player.
A separate BTC wallet for gambling
It's a good practice to assign a separate wallet for games and keep only a small amount of coins. You can keep most of your coins in a separate wallet, preferably in a 'cold crypto wallet.' With a separate BTC wallet, tracking your money and setting a bankroll and limits is easier. In case a hack happens, most of your cash and investments remain safe.
Use a strong password and change it regularly
It's pays to be extra careful nowadays. Even the most secure locations get hacked and compromised. Binance, arguably the largest and most reputable crypto platform today, was hacked that costs the company and its users up to $570 million. So if a large and highly secured platform gets hacked, then your wallet is easy pickings too. So, the key lies in using a complex password and change it often. You may also use a password manager instead of simply saving it in the browser.
Use Multi-Factor Authentication
There's a Two-Factor Authentication in most websites and there's Multi-Factor Authentication (MFA). In MFA, you have a layered protection for your account with independent credentials through passwords, security token, or biometrics.
Beware of phishing
In phishing, an attacker tries to gain access to your personal information. To prevent phishing, only visit legit and fully encrypted websites. Save the links to your favorites, and avoid clicking on a link that you randomly find online. In addition, don't easily trust emails, texts, or chats asking for your personal information.
Sign up and play only in trusted BTC casinos
It helps if you only register and play real money games in reputable BTC and crypto casinos. In addition to its license and company registration, check out its available players' tools and commitment to Responsible Gambling before signing up for an account. Pasino Casino, for example, is a reputable casino that commits to players data protection under Costa Rica Data Privacy Regulation, Law No. 8968. Also, this casino runs a KYC policy to ensure the protection of all players.
Remember, your BTC wallet is your responsibility. Make sure to setup and secure your wallet before starting your crypto gambling journey. For other tips and game guides, don't forget to follow our Twitter page and browse our blog!
