The entire digital currency network is founded on principles of safety and anonymity. However, this doesn't mean that players are free to be reckless with their wallets. A simple slip of the tongue can cause players to lose access to their casino bankrolls, which aren't recoverable given the very limited amount of recovery options available to players and few casinos and even Bitcoin itself won't intervene in cases of negligence when it comes to online safety. So, how can players go about ensuring they remain safe while using their digital currencies in casinos. Let's review some of the leading ways:
Minimize Bankrolls Wherever Possible
Generally speaking, the majority of us wouldn't choose to hold significant amounts of cash on us while we're out and about in our daily lives. This very same level of consideration should also be applied to a Bitcoin wallet. This doesn't mean players should restrict the amount they're holding in a bankroll to unrealistic levels, but it does mean that winnings should be held in a more secure place, such as offline and encrypted elsewhere.
Choose Online Casinos Carefully
While the majority of online casinos will have a professionally appearing wallet or bankroll area, it's of the utmost importance that players don't go on the visual impression that what they're playing on is something worth trusting. Players must do their own research regarding online casinos and find out how trustworthy they actually are in the grand scheme of things. The majority of digital currency casinos will be, but it will only take one rotten experience to have a generally bad impression of the idea as a whole.
Make Wallet Backups Whenever Possible
A backup can mean the difference between a recoverable wallet and one that's gone forever. Because the Bitcoin network doesn't provide many means of wallet recovery due to the anonymous nature of the currency, it's very difficult to prove ownership of Bitcoins should something go wrong. This is why backups are of the utmost importance.
Backups hold the public and private keys associated with Bitcoin transactions in an encrypted file. When playing on any Bitcoin casino, these keys will quickly accumulate themselves to prove wins and losses as coins are swapped around the network on a near continuous basis. This is why it's important to make a backup of the entire wallet, which will ensure that every transaction is documented in a recoverable file.
Store Wallet Backups on Multiple Platforms
Backups shouldn't be stored in just one area. What if that area is inaccessible? Users should take the time to store their backups in multiple locations, such as across several discs, flash drives, password protected online storage sites, and other secure locations as identified by the user. Again, this is all because Bitcoin wallets are notoriously difficult to prove ownership of and losses are extremely difficult to trace back to any particular user. When a loss happens, it's important for users to have readily accessible backups wherever possible. The frequency of the backups themselves, though, are up to the individual user.