Bulletproof Security Setup for Crypto Gambling
Everything you do online, including crypto gambling, has its risks. However, we don’t want to passively accept that situation. Instead, we’re looking for ways to do things better. When you play at crypto casinos, the security setup matters as much as the games you play and the strategies you use to maximise your chances of winning.
In this Crypto Gamba guide, we'll walk you through a rock-solid method that crypto professionals and seasoned casino players swear by. Using a smart combination of hot and cold wallets ensures you stay protected in the long run while enjoying all the benefits of crypto gambling.
Crypto Wallet Strategy Overview
Most risks associated with crypto gambling stem from rogue casino sites that have inadequate security measures. However, casino sites are not the only targets of malicious attempts. The risks easily extend to players, primarily due to their crypto banking habits. Fortunately, there are now effective strategies to find better approaches.
Although it may not be the most time-efficient option, our team of experts has devised a bulletproof strategy that helps you utilise a combination of cold and hot wallets to ensure maximum security without sacrificing convenience.
To help you visualise it, here is the general idea:
Step-by-Step Process Setup
Before starting to play, you must find a legitimate site to trust. The site should have proper SSL encryption, which ensures all data you send to the casino, such as your login details and wallet address, is encrypted. You can easily verify this by examining the casino's URL in your browser. If it displays a padlock symbol and begins with “https://, ” the site is secure. Also, before logging in, make sure that the site undergoes regular third-party security audits. Once you’ve done this, you are ready to set up your wallet system.
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Set Up a Cold Wallet
Cold wallets are safer for holding crypto because they don’t have to be connected to the internet and exposed to malicious attempts. Make sure to choose a reliable cold wallet like Trezor or Ledger. Both have a versatile price range, so you are almost sure to find something suitable for your unique betting habits and budget.
It is wise to familiarise yourself with the options, their highlights and drawbacks and make an informed decision based on your habits and needs.
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Set Up a Hot Wallet
You need to set up a hot wallet for everyday gambling and treat it like cash you'd carry around. Please don’t use the gambling hot wallet for trading or other purposes.
Because the hot wallet is connected to the internet, you must ensure it has tight security. Some of the best ones for crypto gambling are MetaMask, Exodus, Coinbase, and Trust Wallet. Pick the wallet that supports the tokens you use and works well with your chosen crypto casino.
For increased safety, choose a strong password and don’t reuse an old one. Also, back up your seed phrase offline and enable extra security like biometric login or 2FA if the wallet has it.
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Fund Your Hot Wallet from Your Cold Wallet
Now that your setup is ready determine a realistic budget and add it to your hot wallet. Transfer money from the cold to the hot wallet by copying the hot wallet's public address. Double-check everything for each transaction, especially the coin type, amount and address.
The best thing to do is to send a very small transaction, like $5, to confirm that everything goes as planned.
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Play Online
With money in your hot wallet, you can go on and fund your crypto casino account. Make sure to remove auto-connect on the gambling sites that have it set, and always be mindful of the casinos’ licences.
Additionally, to fully protect your casino funds, be careful with dApps that require or ask for unlimited spending permissions.
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Withdraw Winnings to Hot Wallet
Once you hit a big win and have amassed a withdrawable amount in your casino account – it is time to cash out. Don't leave money standing in the casino for too long. Like any site, it can be hacked or go down, or you can get your account frozen without warning.
Double-check your hot wallet address and confirm the withdrawal. You can also save the wallet address for future withdrawals, but only after you have completed at least one successful cashout. Additionally, make sure to save the transaction ID in case you need to contact support.
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Transfer Winnings Back to Cold Wallet
If there are funds you wish to lock down or save, you can transfer them to your cold wallet. Try to establish a routine for these transfers when you reach a specific amount of funds or follow a calendar schedule.
Like in all other steps, confirm the address and other info before confirming the transaction.
Conclusion: Is The Trouble Worth it?
We suggest envisioning the hot wallet as a reloadable stack of chips or a regular wallet you would typically carry to a casino. Following this analogy, the cold wallet represents your savings account, which you wouldn’t certainly take with you everywhere and showcase to everyone.
The setup for bulletproof security when crypto gambling online is somewhat more time-consuming compared to direct crypto gambling with a hot wallet. However, it also reduces the risks significantly.
Using this approach, you keep the flexibility that crypto gambling offers while ensuring the highest levels of security and, thus, peace of mind.
Bonnie Gjurovska
Crypto Expert
Bonnie Gjurovska has been a gambling enthusiast since 2017. Her crypto journey began in 2019 when she first read a Twitter post. She then purchased Verge and Bitcoin as her first cryptos and developed a deep interest in blockchain, DeFi, NFTs, altcoins and protocols, scouring forums and communities for sharing knowledge. She is a strong believer in decentralization and digital economy, which stems naturally from her legal educational background.
