First, many compare investing in digital coins to gambling. And that’s understandable. The crypto market is very volatile. This means that large price swings are simply the order of the day for most cryptocurrencies. Whether you lose or win a lot of money is mostly a matter of luck. Especially if you, as a beginner, still do not have a basic knowledge of the financial markets and have not learned how to interpret asset price movements correctly.
Secondly, crypto payments are very often used in the so-called cryptocasino. This is a fairly common online casino, but all deposits and withdrawals are made in crypto. Online gambling, however, also presents itself as a good way to make your cryptocurrency investment quite profitable. In this way, gambling on financial markets and crypto exchanges becomes a crypto investment in the online casino. And that sounds a lot more like profit than just playing or buying digital coins from a broker.
Playing with cryptocurrencies in the casino – an incentive to buy crypto
Putting profit and investment opportunities aside, the mere thought of trying your luck at a crypto arcade has significant implications for customer behavior towards cryptocurrencies. Even users and investors who are quite skeptical about the new payment options are forced to consider buying Bitcoin and Co. Because many online casinos still offer customers both cryptocurrencies and payment methods in their checkout area, where US dollars or euros can be used. However, there are more and more casino providers that only allow gambling with digital currencies. Here you have no choice but to buy the digital coins in one way or another. And once you get your hands on cryptocurrencies, you might become less skeptical of the new financial trend. As you know, appetite often only comes with eating.
However, gambling at a crypto arcade is itself a form of investment.
The casino deposit can be compared to the bank account
Yes, we have to admit, such a comparison is quite daring. But in times when zero and minus interest rates are already a reality, such thinking does not seem so crazy.
Let’s assume that you have already plucked up the courage and bought your first coins on a crypto exchange or from a crypto broker. Now you wonder, rightly, where to put the money. Selling the newly acquired cryptocurrency immediately to profit from exchange rate differences is not for everyone. Because as an object of speculation, digital currencies carry great risks and you can literally gamble away a fortune if you act impulsively. And without having crossed the threshold of a casino.
So what to do? To keep the coins safe, you need a so-called crypto wallet. A hot wallet located on the Internet is only a short-term option here, as the hackers are known to lurk out there on the web. So you either have to get special software or buy an expensive gadget called a hardware wallet. This is not only expensive but also cumbersome as it mostly requires technical knowledge.
This is where real gambling offers a way out. As soon as you own an amount of Bitcoin, Ethereum or another cryptocurrency, you can make a deposit at the cryptocasino. Here, the crypto-assets are stored securely in the customer account. So there is no need to worry about where to keep the investment.
An investment that multiplies
Even gold can no longer be a safe haven in hard times these days. Because prices change constantly, following political and other global events. If you already have the cryptos in your casino account, don’t be tempted or even scared into making hasty decisions by short-term fluctuations in their value. This is because the best cryptocurrencies are likely to reach their full potential only in the long-term future.
But that doesn’t mean you have to passively watch prices rise and fall. If the money to play is already there in the online casino, you can take the step and challenge Fortuna. No, you don’t have to risk everything right away. It wouldn’t be a wise decision, and no passionate gamer would do it either. However, you can start with small bets and develop a strategy as you play. Of course, there will be not only profits, but also losses. But if you can manage your bankroll wisely, you have a pretty good chance of actually growing your initial investment in crypto. (27/09/2022/ac/a/m)