Bitcoin is known to be a safe method of making online deposits and payments. Still, the user does need to be very careful. For example, when making a Bitcoin online deposit, the casino will provide an address to send it to. Therefore, care should be taken to make sure that the user copies the details exactly. It is tough to correct any mistakes later. It does give the user anonymity, though, which makes it one of the safest deposit methods.
All the user has to do is register with a Bitcoin exchange. Then they can start making deposits using the cryptocurrency. Making a withdrawal is just as easy. The Bitcoin exchange can then convert it back to the user's standard currency for only a small fee.
As anonymity is guaranteed when the user makes a transaction with Bitcoin, they are protected from a scam. Still, they should make sure that they are signing up with a reputable online casino with the appropriate security measures. In addition, they should also make sure that the Bitcoin exchange that they use is properly regulated.
Many people will be concerned that having an online-only currency will make it more susceptible to hackers. Still, it is possible to store Bitcoin offline using a paper, analog format. This means that it cannot be accessed by hackers. It is also a good idea to use a non-custodial wallet to store Bitcoin. This means that the user is in complete control of the currency at all times, and no one can prevent the user from completing a transaction. As a comparison, PayPal is a custodial wallet. PayPal can freeze an account if they believe there is an issue. This could not happen with a non-custodial wallet.