Topic: What makes you trust bitcoin related services? - page 6. (Read 898 times)

I trust some websites/companies because many people recommend using that site. They already get a pleasant experience with the site, and they don't have a problem with using their services. That will happen too if I want to choose bitcoin casino. As long as I can select the recommended bitcoin casino, there will be no problem for me, although that cannot 100% guarantee. Provably fair is almost every gambling site has, and we should not worry about that.

Besides recommending by other people, I also search by myself, so I can have another site to used besides that site. So when you want to use a service from a website, make sure you search the review from other people, read what they're suggestions, and, if necessary, you can try by using little money first to test the service.

It depends on my need of it. These sites will always offer services we mights need like our daily commodities and fund transfer. In cases of casinos and gambling sites we must make sureof the after service duties we can acquire like customer related issues. Even for other services especially money transfer that needs customer assistance in cases of system downtime and failed transactions. Its always been a risk-taking activity to engage in these bitcoin related services. If we need it then we should trust it.

That's the right attitude. There's no need to be the guinea pig when new services launch. Let other more reckless people do that. I've seen too many incompetent operations and outright scams in this space to take unnecessary risks like that.

Most of the services here start from 0 reputations and even unknown person, it will be different if a company or big community offer their services.
How do they get the trust from customers or clients to work with?
- prove themselves trustworthy, there are several ways, but the easiest one is escrow, put their money in front.
- as time goes on, customer reviews will build their reputation, it's not in one night though.

Reputation is the key! You cannot just go ahead to buy something with bitcoin from someone or company you don't know or trust. If you do that you'll easily get scammed. The first rule of dealing with bitcoin is must know the person or company you are dealing with by knowing their reputations.

If you're talking about crypto casinos, the only ones I would trust are those that already have a good reputation, which means that other people have used them without any issues.  In other words, other people are the guinea pigs to establish a good reputation.  That's unfortunate, but it's reality.  If it was a brand new casino that hadn't been reviewed by players and hadn't had a good or bad word said about them yet, I wouldn't bother trying it.

The most basic rule in crypto is 'don't trust anyone' and those are the best words of advice anyone could give you.  There are no protections with bitcoin (or any cryptocurrency), and once you send your coins that's the end of it.  You can't get them back.  The only reason I trust certain exchanges is because other people have used them first.  That's probably the case with a lot of things in cryptocurrency.  Unless there's a good reason for you to trust someone or something, you really shouldn't.

It's about their reputation and being rational. Let's go with the gambling casino example here.

Let's say your looking to gamble 1 BTC, and there is a smaller casino that only has a bankroll of 2 BTC and they don't really have a lot of users. Why would you not go with a more reputable casino, like bitsler, that has a million dollar bankroll? Just simple knowledge to be honest.

I personally use this to evaluate every service I use, this way I can feel secure when I'm throwing 0.2 BTC threw chipmixer, because they spend that much on a daily's worth of sig posts.

Well-established reputation.

No way that site, of whatever the service is, will reach that level if they do sh*t while on the process of working their way up. Meaning, they fairly meet some of the user's preferred criteria and somehow deals with any problems on the way, minor and major.

What about the new service? We have a thing called self-analysis and the ability to somehow determine if a certain site will do sh*t or not.

a) Serious promotion and marketing - meaning they are spending tons of money with this
b) Serious approach to website improvement starting from basics to advance
c) Serious approach about security - it's a must
d) Good customer representative at any platforms - ability to answer basic to technical questions in general without responding "please contact us @.."
e) Well-explained details of the service
f) Legality
g) They do everything to show everyone that their service is legit

It's really difficult to trust a new service today that's why every company must show that they are serious. Not an assurance though that it will not show some shitty activity in the future but it's better to see them like that at their early phase.

I think if it's crypto related, whether gambling services or exchanges, it boils down to:

• Reputation/Trust - How long does the services exists in the crypto-sphere? do crypto enthusiast vouch for them?
• Who are the people behind? - Just look at Binance, CZ has been what like 2 years? But he has build his empire already
• Security - of course, you want services to priority this one, although every crypto services are prone to this, but at least they should learn how to protect members funds

First, how long the service they operated and the feedback on their previous customers.
As much as possible in choosing for example gambling site better to spend time investigating first before depositing your fund.
Why we must be careful about our Bitcoin? Because it is like fiat and the most valuable. Verify first the gambling site you've chosen and trust to deposit as well.

The only thing that could entice me to use a totally new service was if it was provably operated and ran by an entity/organization/individual which already had a significant history and good reputation from running another service, and which I had personally used. If ChipMixer, for example, opened a betting site (and I could be 100% sure it was ran by the same people and that they hadn't been compromised), then I'd have no qualms with giving it a spin. If you are a brand new service/organization, then I agree with most of the posts above. I'm not sending you a single satoshi until you have a solid history, reputation, and community reviews. I'm also not sending personal identifying information to any third party service, so if you require that, I'm immediately out.

Given how many new exchanges/casinos/gambling sites/mixers/web wallets/whatever we are bombarded with pretty much every day, and that the vast majority of them turn out to be complete scams, it is difficult to entice users to try out any new service. In terms of your casino example, many casinos offer a faucet so users can sign up and play for free. Once some users have verified they can withdraw from faucet winnings, they may be enticed to deposit and play with their own money. From there, reviews and reputation can slowly be built up.

Nothing. I wouldn't go anywhere near it no matter what unless it involved amounts and information I didn't care about going up in smoke.

It's down to them to prove they're worthy of their customers and that could take a long time. I remember people turning up here announcing a new service out of nowhere and being consumed with rage that everyone was dripping with scepticism. Why the hell wouldn't they considering the past of crypto services?

That ain't our problem, it's theirs.

Reputation, reputation, reputation. Why trade at "EXX" or "Bilaxy" when you could trade at Binance?

However, I don't trust any service. Even the most reputable services get hacked, or might lock your account and freeze funds under the guise of AML/KYC concerns. That doesn't mean I never use centralized services, but suffice to say: You should minimize the amount of money you put at risk and the amount of time it stays deposited, no matter what.

But what if it's a totally new service, what would pull you over the line of trusting them/joining their site?

its the hope to win that i guess made me deposit my btc to a gambling site. sportbetting is just one trusted gambling site which also made me deposit, since i see them sponsored a team which their logo is on the shirts of the players i guess they are not going to scam people after building such reputation. i'm not the only one who did play there so sending btc is pretty much safe.

1, Reviews of people who have used this wallet.
2, How long has it been in the industry.
3, Who are the people behind this project.

And there are many other things that can help me to figure out right away if they are trustworthy to use their service.

Track record and evidence of competence are the main ones. I wouldn't bother with anything that didn't have extensive reviews and reported experiences from others. Even then there are places that really are not inspiring as to how they operate so I'd need to be satisfied that they were doing things right before considering them.

It constantly blows my mind the amount of people turning up here asking whether they should trust a service that literally no one else has ever heard of. Why would you? Then again they're most likely the owner of the service.

it starts by their history. for example if the service is an old one you can easily look at some feedback on this forum or elsewhere to see what other people's experience with that service has been like. if they scammed any of their users, if they were gotten hacked, leaked any personal information of their users,... and a lot more. with a quick search you can easily figure out how much trust you can put in a certain service.
for instance an exchange service that has been hacked before and has poor customer support deserves a very small trust from traders.

then it is a matter of how much risk you are willing to take. for example the gambling site you mentioned, you can verify their fairness and history and then decide if you want to trust their honesty and for how much.

I generally depend on the reviews of people here. I've been scammed so many times that I don't risk trying any new things. I'd rather go to those that has been tested and proven for a long time. Provably fair is the basic thing you should expect from a gambling site. I wait for my coin or token to be listed on a good exchange which I can trust than to jump into depositing in an unknown exchange.

It's pretty complicated. You need to look at their track record, maybe who is behind the company, look at reviews on the internet and if they are or aren't regulated by some entity. If you're looking at casinos you might want to check if they have a license, but in the crypto space I haven't seen many casinos with one.