Cryptocurrencies are highly sought after, and we can see that in the bubbling market. These innovative, decentralized models gave birth to cryptobetting as an alternative to traditional online casinos. However, the billion-dollar market has attracted some unwanted attention.
Your earnings from the best CryptoBetting sites stand a risk of getting hacked with today’s technology. Fraudsters continue devising new means to strip players of their wins. This unfortunate occurrence could happen on gaming platforms or outside of them.
The time for extra vigilance is now, and we will guide you through it. You will learn the steps to secure your cashouts from Bitcoin betting and enjoy them as you should. Bearing that in mind, let us explore how to secure your legally earned cryptocurrencies.
7 Steps to Secure Your Cryptobetting Earnings
Despite the poor outlook for 2022, the cryptocurrency market remains in the billion-dollar segment with viable signs for explosive growth. Such exploding statistics will raise eyebrows among online fraudsters looking for quick cashouts. They will stop at nothing to deprive legit cryptobetting gamers of their earnings.
Nevertheless, there are proven steps to stop them in their tracks. A little caution here and there can go a long way toward securing your winnings.
The following are steps you should take to secure them:
Play in a Registered Casino
All the steps in this article will only amount to something if you are on the right platform. Some unlicensed sites continue to exist despite regulations to ensure online safety for gamers. You must watch out for them when looking for online games.
Before accumulating your Bitcoin Betting earnings, make a quick run-through of the casino’s license. You will find this crucial information at the bottom of the homepage or in the “About Us” section.
Unregistered Bitcoin betting sites could walk away with your winnings. In addition, they will be harder to track or trace because of the decentralized nature of the blockchain.
Searching for and confirming the platform’s license often takes a few seconds. Hence, always do it before you fund your account.
Use a Hardware Wallet
While the world is thrilled with e-wallets, do yourself a favor by using a hardware wallet. That is different from saying you should completely abandon the digital variants. Moreover, they are often the first port of call when transferring your Bitcoin betting rewards.
Hardware wallets are practically unhackable, as they have no digital connection to a network. Unless someone gains physical access, the contents remain safe and untouchable.
Distributing your Bitcoinbetting payouts between digital and hardware wallets is the best strategy to keep them safe. Store a little in your e-wallet to quickly fund your gaming account. However, don’t store the bulk of your Bitcoin earnings there.
After transferring your coins or tokens to your hardware wallet, keep the device in a secure location. It could be in a personal safe or a bank safety deposit box.
Use Different Passwords on Your Wallet and Accounts
It can be daunting to keep tabs on your passwords when you have many accounts. In such cases, we often fall back on using one password for several accounts. This is a risky move, especially in Bitcoinbetting.
Never rely on one access code for two accounts. Always assume that hackers might gain access to anyone at any time. Imagine what they might do to the rest if you had one password for all of them.
Fortunately, we have digital password managers like the one from Google to store them on one platform. You can easily recall your password when logging into your accounts.
Apart from keeping your passwords, these managers help you create stronger ones. Since there is no need to have them at the back of your hand, you should try more complex combinations to stave off hacking. Remember that most Bitcoinbetting hacks begin at the password entry page.
Avoid Phishing Sites
Today, we can quickly enter our payment details and make online payments. Physical cash transactions are becoming less popular, and many prefer cashless. While we appreciate the development, it comes with new challenges.
Anyone accessing your payment details, including your Bitcoin wallets, may withdraw your Bitcoinbetting winnings. Phishing sites exist to steal this information from unsuspecting users. They look legit on the surface, but they are simply a front for hackers.
As a rule, never give out your crypto wallet details to any site. Even online casinos do not ask for your password in order to send you your winnings.
Always confirm the URLs of the sites you visit. Ensure they are secure and have SSL certificates.
Don’t Use Wallets from Gaming Sites
Although they could be legit, you are better off using your e-wallet. Using them exposes your secret key to their servers, and you never know who might access it. Even when the casino is licensed, don’t use their proprietary wallet to store your coins.
If you must use such platforms, always transfer your cryptobetting earnings to your wallet. Don’t leave them there for too long. Nevertheless, we strongly advise against using a gaming platform’s wallet.
Don’t Input Your Seed Phrase on Any Website
Your wallet’s seed phrase is for your consumption alone. It is what you may fall back on if you forget your password. You can see how critical it is to secure your Bitcoinbetting profits.
Anyone with your seed phrase may reset your account and log you out. Let us leave the rest to your imagination. With access, there is no telling what they might do.
Again, no browser extension or website will ask for your seed phrase. Passwords are the most common request during online transactions.
Don’t Use Public WIFI
Free or public WiFi is often unsecured, and hackers could lie in wait. Intercepting internet traffic is easy when you are on the same network as the interceptor. While they cannot directly hack your account, they might see your transactions.
If you must use public WiFi, ensure you have a virtual private network. It should keep you anonymous while you transfer your cryptobetting winnings.
Cryptobetting is fun with all the trappings of the blockchain. Players enjoy high-level security, higher limits, low transaction fees, and many other exciting benefits. However, your winnings are at risk if you don’t keep a close eye on them.
Take adequate and deliberate steps to keep your Bitcoin betting rewards safe. Utilize hardware wallets, create stronger passwords for your accounts, and avoid public WiFi.