Finding a reliable site has always been difficult when it comes to gambling. In addition, if you are looking for a Crypto Casino, you may want to stop and think again. Because in terms of transparency, most gambling sites have almost no basis. When cryptos come into the business, the issue of transparency turns into a disaster for gambling sites.
So, how will gambling lovers find a reliable and transparent betting site? As a matter of fact, this is not as difficult as it seems. A little in-depth research and of course knowing what you’re researching will solve the problem radically. In today’s article, we also discuss transparency in crypto casino sites. If you are ready now, let’s get started and take a quick look at the details in our article.
What is Crypto Casino?
Crypto casinos have an incredibly simple operating principle. Users deposit funds into their accounts at casinos by paying with various cryptocurrencies. Bitcoin, Ethereum, Litecoin, Dogecoin, and many more cryptocurrencies can be used in casinos. Because cryptos are thought to be the safest and most anonymity way to gamble in recent years.
In fact, the only difference from a classic casino is that traditional payment methods are not used. However, at this point, users may experience some reservations. Is the site I am going to use safe? Will my cryptos be compromised? Many questions like these are starting to appear in people’s minds. Now let’s try to answer these questions as much as possible.
Transparency Control at Crypto Casinos – 3 Important Ways
We can say that 2021 and 2022 are almost the years of crypto. With the development of new technologies, the online gambling industry has also started to develop. We can say that many new options are starting to emerge such as algorithms, bitcoin casinos, and cryptocurrency operators. So what are the ways to detect transparency in crypto casinos? Let’s take a look at what we should pay attention to as users.
1. Use of Provably Fair Algorithms
A reliable crypto casino site should definitely use the Provably Fair system. In these systems, random number results are labeled with a hash and hash algorithms are determined completely randomly. This means that no administrator can tamper with this data. You can trust the crypto casinos that manage to transparently promote the hashing system they use. For example, the provably fair predictor at Thunderpick is a fact. And in terms of transparency, it is at the top of crypto casinos.
More importantly, there are systems where you can check the hash output. So you may not trust the numbers offered by crypto casinos. Then you may need to use SHA-256 hash calculator applications to see its accuracy with your own eyes.
Do you need the right information to understand the provably fair details of a casino site? Then take a few minutes to take a look at our What Is Provably Fair article.
2. Being Auditable
It doesn’t matter whether it’s a crypto casino or a traditional gambling site. Each site must be able to be audited by a certain authority. Because as you know, cryptos already increase anonymity. In other words, if the gambling site you registered with takes all your cryptos and runs away, you will not be able to do anything. This is exactly why users should take care to use gambling sites with Curaçao eGaming license.
Most betting sites share Curaçao information on their sites. You can check if they are actually being audited by verifying their license number. If there is a gambling site that you are sure of by checking its license, you can gamble with peace of mind.
I think we can loosen up the peace of mind part a bit. Because you may not be able to play with complete peace of mind. That’s why we recommend that you read the third way carefully.
3. Beware of Scams
As you know, there have been cases of fraud in the crypto industry for years. Even large companies can suffer from multimillion-dollar frauds. When it comes to cryptos, there is no one you can catch in the middle. Precisely because of these, it becomes extra important to determine a crypto casino site.
Because both your and other users’ investments may be at risk. For this, try to research the security measures of the site you will choose. Even if you are not sure, contact the authorities of the site and try to send an e-mail. Do not forget to check if there is any scandal in the history of the gambling site.
If the crypto casino is hacked in any way, you risk losing all your assets. You should also pay attention to your own electronic security in order to avoid such problems. In some cases, your own personal accounts can be hacked directly. In this case, there is nothing the casino site can do for you. However, if the problem of fraud is experienced by the casino site, they will probably cover all your losses.
In short, give importance to your security in order to avoid all these problems. And research down to the finest details of the crypto casino site where you will register.
In today’s article, we touched on the details of the transparency of crypto casinos. Hash algorithms and security measures are the most important details in terms of transparency. When it comes to crypto, it is necessary to pay double attention to all these.
If you are a new user in the gambling industry, be sure to take a good look at our article. If you still have question marks in your mind, don’t forget to check out our other blog posts. First of all, you can start reading our article about how cryptocurrencies are changing gambling. Have a nice read.