We present a quantum image encryption protocol that harnesses discrete-time quantum walks (DTQWs) on cycles and explicitly examines the role of the Parrondo paradox in security. Using the NEQR representation, a DTQW-generated probability mask is transformed into a quantum key image and applied via CNOT to encrypt grayscale images. We adopt an efficient circuit realization of DTQWs based on QFT-diagonalization and coin-conditioned phase layers, yielding low depth for N=2^n positions and t steps.