Crypto Wallet Security

By Isabella Brown (Updated: February 19, 2026)

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One of the biggest risks for crypto users is losing funds to hacks. While the blockchain itself is secure, the wallets you use to store and move your crypto can be vulnerable. Where and how you keep your crypto makes a real difference, which is why choosing the right wallet is essential. In this guide, we explain the differences between cold and hot wallets, plus everything else you need to know to select the right one and keep your funds safe.

Intro
Wallet Security Checkup
What Wallet Security Page Is (and Isn’t)
What Is a Crypto Wallet
Different Crypto Wallets and Their Roles
How to Set Up Your Crypto Wallet
Crypto Wallet Security Tips
How This Connects to Other Security Risks
Final Thought
Sources

Wallet Security Checkup

These questions walk you through your wallet’s security. Your answers will help you spot risks and understand what to improve.

Step 1: Where is most of your crypto stored?
- On an exchange
- In a mobile or browser wallet
- In a hardware wallet
- Split across multiple wallets
→ Tip: It’s safer to split your funds. Keep most of your crypto offline, and use hot wallets for small amounts you want to access quickly for gaming.
Step 2: How do you usually access your wallet?
- Mostly from home Wi-Fi
- Sometimes from public Wi-Fi
- From multiple devices
- From anywhere, anytime
→ Tip: Try to avoid public Wi-Fi when accessing your wallet, and use a VPN if you do. Make sure two-factor authentication is enabled on every device.
Step 3: What would happen if your laptop or phone was lost or stolen today?
- I could recover everything easily
- I think I could recover it
- I’m not completely sure
- I would lose access
→ Tip: Your seed is the “master key.” If you write it down and keep it offline, you can restore your wallet on a new device even if your phone is stolen.
Step 4: Have you ever written down your seed phrase on paper and stored it safely offline?
- Yes
- No
- I saved it digitally
- I don’t remember
→ Tip: Never keep your seed phrase on a device or online, and don’t share it with anyone. Write it down and store it offline in a secure place.

What This Page Covers (and What It Doesn’t)

In this guide, we show you how to:

Choose the right wallet type for gambling
Separate storage from spending funds
Protect your seed phrase properly
Avoid the most common wallet mistakes
Reduce the risk of hacks and accidental loss

Here we cover everything related to crypto wallets and guide you through the steps you can take to keep them secure. However, we don’t go into other common risks you might face while playing. Topics like withdrawal issues, VPN risks, and phishing are explained on separate pages.

What Is a Crypto Wallet and Why It Matters for Gambling?

If you’re new to crypto gambling, you might be wondering what a crypto wallet is. A crypto wallet is a digital tool that lets you store, send, receive, and manage cryptocurrencies like Bitcoin or Tether. Instead of holding physical money, it stores the private keys that give you access to your crypto on the blockchain.

Different Crypto Wallets and Their Roles

When choosing a crypto wallet, think about what you’ll use it for:

Spending wallets are built for convenience and are more suitable for an active casino session. They are software-based, stay connected to the internet, and are known as hot wallets. You can use them on mobile devices, desktop computers, or via browser extensions.
Storage wallets are where your main balance lives. These hardware devices, also called cold wallets, keep private keys completely offline. You don’t connect them to casinos or use them often. Their job is to keep your crypto safe until you need it.

In the table below, we compare these wallets in terms of security, convenience, and usage.

	Spending Wallets	Storage or Hardware Wallets
Internet connection	Yes, keys are stored online	No, keys are stored offline
Control of private keys	User has control over keys	User has control over keys
Risk of hacking	Higher (online connection vulnerable)	Very low
Best used for	Everyday transactions, for funds in the current session	Long-term storage and larger balances
Convenience for betting	High – keys are easily accessible	Less convenient
Wallet examples	MetaMask, Trust Wallet, Exodus	Ledger, Trezor, BitBox

As you can see from the table, spending wallets are always connected to the internet, which means private keys are often stored locally in your browser or on a smartphone. This makes them less secure than storage wallets, where private keys never leave the device. Compared to these long-term wallets, spending wallets are more vulnerable to malware, phishing sites, and browser exploits.

Security starts with your wallet, but staying safe also means being alert to scams. Make sure you understand how scam detection works so you can protect your funds.

Use a Burner Wallet to Keep Your Crypto Safe

One of the most effective ways to protect your crypto is to separate your funds across different wallets. Your main wallet, ideally a cold wallet, should hold the majority of your crypto and remain offline. Only transfer the amount you need for a gaming session to your hot wallet, which is connected to the internet.

To reduce risk, also use a burner wallet. Burner wallets are temporary, single-use accounts that hold only the crypto needed for the session, and stay separate from your main assets. After each session, move any leftover funds back to your main wallet.¹

Isabella Brown

iGaming expert

A Simple Step-by-Step Example: How to Set Up Your Crypto Wallet

When you set up a non-custodial wallet, you are fully in charge of your crypto. However, this not only gives you freedom, it also brings responsibility. If you lose your seed phrase, your funds are gone. With this step-by-step guide, we show you how to set up a wallet like Trust Wallet or MetaMask and what to pay attention to.

Download the Wallet

Choose a wallet and make sure you download it from the official app store or website. Use only reputable wallets with good reviews to avoid scams that mimic legitimate wallets and steal your funds.
Set Up a New Wallet

Open the app and follow the prompts to set up a new wallet. Wallets usually don’t require personal information like your name or email.
Protect Your Seed Phrase

Your wallet will generate a 12- or 24-word seed phrase, which gives you full access to your crypto. Write it down clearly and keep it in a safe or another secure spot. Keep a second copy somewhere else as a precaution.
Add Crypto

Transfer crypto from an exchange or use the wallet’s built-in purchase options.

Never store your seed phrase digitally or share it with anyone. Don’t take photos, email it to yourself, and never enter it on a website. Keep it offline in a secure place so your crypto stays completely under your control.

Practical Tips to Keep Your Crypto Safe

Even with a secure wallet, how you manage and access your crypto matters. Here are some practical tips:

Choose the Right Wallet: Keep larger amounts of crypto offline in a cold wallet to protect your funds from online threats.
Keep Your Software Updated: Regularly update your wallet and apps to fix security issues.
Double-Check Transactions: Always confirm recipient addresses before sending crypto to avoid malware or scams.
Secure Your Connection: Avoid public Wi‑Fi and, if possible, use a VPN to keep your internet traffic private. However, using a VPN can be risky because some casinos may block your account if they detect it. If you’re unsure, check with customer support before connecting.
Review Token Approvals: Regularly check and revoke unlimited smart contract approvals with tools like Revoke.cash.
Use Transaction Alerts: Browser extensions like Wallet Guard can warn you before signing transactions. This is effective because it gives you a clear warning before any crypto leaves your wallet, so you can catch scams or phishing attempts in real time.
Enable 2FA Everywhere: Protect all accounts that could access your crypto, including your wallet, email, casino, and exchange accounts. Avoid SMS codes, as hackers can hijack phone numbers (SIM swapping) to bypass them.

It’s still possible for your wallet to get hacked. If that happens, you need to act quickly and know the steps to protect any remaining funds. We explain this in detail on our What To Do If Your Crypto Wallet Is Hacked page.

How This Connects to Other Security Risks

Wallet security is just one part of staying safe at crypto casinos. How you store and manage your crypto can influence other risks covered on our main Security and Risk Awareness page. Even a secure wallet won’t protect you if you fall for phishing scams or impersonation attempts, where scammers try to trick you into giving away access to your funds. Also, sending crypto to an unverified address can lead to irreversible losses.

Final Thought

Keeping your crypto safe starts with your wallet. Choosing the right type gives you more control and reduces your exposure. Cold wallets store private keys offline, so they are a safer choice for your winnings.

How you manage your wallet is just as important as the wallet itself. Protect your seed phrase and back it up securely offline. Wallet security also connects to other risks, like sending funds to a fake casino or falling for a phishing scam. Follow all practical safety measures so you don’t have to worry about losing your crypto.

Disclaimer: This website is for informational purposes only and does not constitute legal advice. Winnings are not guaranteed. Gambling can be addictive. Only play where legal in your region and check your local laws. Please gamble responsibly. | 18+