Crypto casinos are becoming increasingly attractive to players because they offer discretion, provably fair games, bigger payouts, and fast transactions without fees. They’ve quickly become the favorite choice among cryptocurrency owners, evidenced by the growing number of platforms offering this payment method. 

However, news about hackers stealing almost 2 billion in cryptocurrencies has raised concerns over the security of crypto gaming platforms. The recent incident, when a leading cryptocurrency casino, stake.com, fell victim to a hacker attack, has shown that even the biggest operators need to improve the security of players’ data and crypto assets. This article will present the most efficient technologies that crypto casinos use to foolproof their security system. 

SSL Encryption Technology

SSL encryption is one of the oldest and well-established ways to protect information shared online. The protocol involves a series of cryptographic processes establishing a secure connection between the player’s browser and the gaming platform. It ensures that the data shared between the two parties is encrypted and coded in an extremely difficult way to hack. The message, also known as plain text, is encrypted into a code, or a ciphertext, that can be deciphered only with the right encryption key.

Transactions in crypto casinos directly involve the player and the gaming platform, whereas a third party processes payments in traditional currencies. This poses an unnecessary risk to personal information like identity, contact information, or players’ account balances.

Encryption Keys

Two encryption keys are used during the protocol: public and private. When the SSL certification is verified, the platform issues a public key sent to the player’s browser, generating a symmetric key for deciphering data. The public and the private key combine to create a unique digital signature that enables any code, or the ciphertext, to be translated into plain text. All transfers of data between the two parties involve encryption through the use of a symmetric key. This applies to all sensitive information, such as financial transactions and personal details.

Asymmetric and Symmetric Encryption

What we described is known as asymmetric encryption because there is one public and one private key. Some crypto casinos also use symmetric encryption, where the data is coded with two private keys. Symmetric cryptography is less secure since it utilizes the same key for both encryption and decryption.

A highly secure symmetric cryptography encryption is the 128-bit SSL encryption. It means that the encryption key has a 128-bit length, and to hack such code using trial and error, a hacker would need thousands of years.

Other Security Measures in Online Casinos

Reputable crypto gaming platforms offer several other security measures to players, such as multi-factor authentication protocols. They enhance the security of data and assets by requiring players to employ at least two identification methods. 

• Two-factor authentication: It involves using two separate authentication codes, such as a password and a one-time code sent to the player, for example, in an email. The player then enters the code to log in successfully.
• SMS authentication: The player gets the one-time code in an SMS message on the registered mobile phone in the platform that they can use for identity verification.
• One-time passwords: OTPs are unique, time-sensitive codes designed for a one-time login session or transaction. Players can receive them through SMS or email or generate them using an authentication app.
• Authentication tokens: These devices generate temporary codes that players must input to access their accounts.
• Biometric authentication includes fingerprint scans, facial recognition, or other biometric identifiers to access your casino account and assets.
• Complex passwords: Punters can also play their part in the online platform’s security using a complex password. They are also encouraged to use different passwords on each platform.  

Securing Your Crypto: Final Words

Crypto casinos are on the rise as they offer unparalleled convenience for players, including anonymity and the safety of financial transactions. However, recent hacks of crypto companies and casinos serve as a reminder that top-grade safety measures in online gaming platforms are an absolute necessity. 

The most obvious indicator of a secure online casino is SSL encryption technology, ensuring all transactions are hack proof. Aside from checking the encryption practices, players should look for online casinos with multi-factor authentication protocols that protect assets and personal data. Also, players must be mindful of their actions and use more intricate passwords that are difficult to hack.