Crypto casinos have gained a lot of popularity in recent years. After the explosion of Bitcoin’s popularity, online gambling has started to heavily utilize these currencies at their sites. Bitcoin slots online and other games with different cryptocurrencies started to appear.
But many people wonder whether it is safe. And the question is quite reasonable. Because there are a lot of platforms that have appeared recently and it is not clear whether they can be trusted.
Today, we’re going to look at all the safety aspects of playing at crypto-casinos.
How Secure Are Crypto Casinos?
And so, let’s try to figure this out.
Generally, it all depends on the platform. If before playing you will read the rules and look at the online casino license, your money will be fine.
But cryptocurrency has made its own adjustments to gambling. It has brought some aspects that were not there before and that affect trust. Let’s take a look at them.
Blockchain Technology
The first and most important – is blockchain. It is a decentralized and transparent system. It works on almost all cryptocurrencies. With it, all transactions can be viewed in a special list, the blockchain itself.
It brings transparency and fairness. You can not be fooled by a fake transaction or anything else. You will be able to verify everything. It adds credibility to the whole casino payment system.
Anonymity & Privacy
Of course, anonymity is the thing about cryptocurrencies. And it’s carried over to crypto casinos.
To make a crypto transfer, you don’t need to enter your personal data. You can remain anonymous for superficial verification.
It is clear that if you want to, it is possible to find information. But it is difficult, and only specially trained people are capable of it.
Encryption & Security Protocols
Licensed crypto casinos, use encryption specifically. SSL encryption is used to protect data and transactions from cyber attacks. And this protection is pretty strong.
Potential Risks
But what dangers await you when playing at a crypto casinos?
Unregulated Casinos
The scariest thing you can come across is unregulated crypto casinos. They appear because in many countries online casinos are in a gray area of the law.
If you are going to play on such platforms, then count only on yourself. They can easily fool you and the state will not help you.
Irreversible Transactions
The minus of crypto is the irreversibility of transactions. If you made a deposit to a casino and something went wrong, you will not be able to get it back.
Consider your money gone forever. Especially if you play on unregulated platforms.
Volatility
The value of crypto is constantly fluctuating. This means that if you play on volatile currencies, your winnings can change very quickly.
You need to be careful and choose more stable coins like USDT. These are the coins that can keep you safe from sudden drawdowns and volatility.
