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Naturally, there are both up and downsides to online cryptocurrency casinos. The main benefit of gambling with cryptocurrencies is that there is no need for a middle man e.
As you can see, the downsides are pretty limited in my personal opinion. Cryptocurrency gambling is a fairly new endeavour, and therefore many people are rightly so cautious about the legality of it.
At the end of the day, you want to be careful about your online activity at all times. It depends on your jurisdiction as to whether or not it is legal to gamble online with cryptocurrencies like Bitcoin.
In general, yes, it is legal to bet with cryptocurrencies online, but you should always check with your local laws first. In addition to that statement, there is a flip side which may benefit some users.
There are some countries which restrict online gambling with traditional payment methods and cryptocurrencies might be a way of getting around it.
There are some basic rules which we can apply from the traditional gambling industry, such as the year-old minimum age and the safe gambling guidelines stopping when you need to.
Since cryptocurrencies are being used on these casinos, there are some risks which we should take into account.
To counter this risk outlined above, there are things you can do to protect yourself and stay safe when gambling with cryptocurrencies online, here are a few of my tips.
This is a basic security feature implemented on many crypto websites. Essentially, it lets you connect your phone number or authentication app to your account so that a hacker would need access to your physical device in order to get into your account.
This is one of the reasons we rated Stake. It offers a simple, yet effective 2FA feature to secure your account.
Like any of your online accounts, you should use a secure password when setting up your account. This password should be different from any other passwords you use online, be unpredictable and use a mix of letters, numbers and characters.
Phishing is a popular method of gaining access to users accounts nowadays. It involves tricking the person into thinking they are interacting with the genuine site or company and then asking for private details.
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