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How Crypto Knowledge Helps You Avoid Gambling Scams

How Crypto Knowledge Helps You Avoid Gambling Scams

By Guest Author

July 1, 2025

At this point, it is evident that many people want to gamble using cryptocurrency. And why not? After all, cryptocurrency can increase in value over time, which means you win even more, can offer more privacy, and gives you complete control of your assets.

As a recent article by gambling expert Ricky Davies explains, many people want to play poker with BTC, to enjoy the speed and security of crypto-powered payments while gambling online. But before you embark on this, it is crucial that you have foundational knowledge of cryptocurrency and blockchain. This knowledge will help you in the following ways:

Crypto Wallet Safety

No matter what you are doing with your cryptocurrency, gambling or not, you must practice good wallet safety. There is no point in winning your casino game only to have your money stolen or lost. Having crypto knowledge means that you know the best places to store your tokens, how to connect and disconnect your wallet from various platforms, how to double-check your wallet's address before you send tokens, and so on. It is worth noting that transactions completed using crypto cannot be reversed, and because they are decentralized, there is limited support for users. Crypto wallet safety will mean that your tokens will be secure, and you'll have a better experience.

Spotting Anomalies With Gambling Platforms

As we've said, there is much more demand for cryptocurrency-based gambling these days. This means, unfortunately, that there's also been a rise in scammers and other shady characters trying to swindle users by creating fake platforms. A person unfamiliar with how blockchain works might not immediately pick up on certain red flags on these platforms. But by having basic crypto knowledge, certain things will stick out to you.

First, you can take notes of the tokens listed and the transaction fees for each. Certain tokens might set off alarm bells in your head, or some of the terminology used might seem off. Also, having crypto knowledge means that you're likely embedded in communities that discuss cryptocurrency. This means that if a platform has a poor reputation, you're more likely to have heard of it and thus, will know to avoid it.

Avoiding Shitcoins And Rug Pulls

The boom in cryptocurrency gambling has meant that some entrepreneurs have launched gambling-specific tokens or various projects that the public is invited to invest in. The idea is that if you buy into this token or platform early, you will see a significant profit. But if there is anything that is seasoned crypto lover knows to be on the lookout for, it would be shitcoins and rug pulls. These essentially mean worthless tokens that are hyped up by their creators but have no value, and platforms are only created to scam investors with nothing delivered. A layperson might see this sort of opportunity and think it is the deal of a lifetime. You, on the other hand, will know the telltale signs of shitcoins and pug pulls and thus, are less likely to fall victim.

Avoiding Dodgy Links

One of the most common ways that crypto users are targeted is through the spreading of dodgy links online. These include links promising airdrop tokens, impersonating public figures and institutions, and promising to multiply crypto. Someone with crypto knowledge will know not to click any link promising these things without doing research first. You'll also know that if you do click, you should not have any tokens in your hot wallets that could be stolen. Someone lacking this knowledge might see these links and rush to take advantage of the opportunity, but you will know otherwise.

Setting Realistic Expectations

While the crypto industry is no stranger to dramatic profits from various projects, there's still a level of expectation tampering that crypto users know to apply. Yes, many cryptos have gone on to do well, but the average crypto user isn't expecting a hundred times return on their initial investment. This means that when they choose to gamble with cryptocurrency, they are not going to be taken in by any dodgy platforms claiming that they can become Millionaires by gambling with bitcoin. If anything, they are more likely to avoid such platforms. Those who are crypto novices might, unfortunately, get sucked in by these sorts of wild promises and are more likely to be scammed.

Outside of dodgy platforms, having crypto knowledge also means that you are mentally equipped to deal with the volatility of the industry. You already know that by gambling with Bitcoin, for example, you might end up with more tokens but with a lower dollar value due to market volatility. As such, you know when to wait the markets out, when to play, and so on.

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