So, is Bitcoin betting safe and secure? It’s an open secret that Bitcoin transactions are anonymous. As said before, Bitcoin bookmakers don’t ask for vital financial information like the ID number and bank account details.
So, unless you disclose your Bitcoin address publicly, nobody, including the most advanced hackers, can track your funds. This is definitely an outstanding technology for those who want to keep their online gambling activities secret.
But just because Bitcoin transactions are anonymous, it doesn’t mean you should play anywhere. In plain words, the safety of your digital coins is also your responsibility.
The thing is to always play at a licensed and regulated bookie, like the ones listed here. Make sure that the sportsbook is licensed by a legal local or international watchdog. All in all, Bitcoin gamblers have nothing to fear as long as they are betting on an approved website.
Something about Bitcoin volatility
One thing that Bitcoin traders and players must keep an eye on is volatility. Any long-term gambler will find it challenging to practice bankroll management with the volatile nature of Bitcoins. For example, in 2021, Bitcoin registered extreme fluctuations.
Back in April, BTC was flying high, trading at $64,000 per coin. A month later, it was trading under $30,000 before bouncing back to the initial rate in October. So, don’t buy a truckload hoping to make a kill.