Cryptocurrency Strategies for Trading & Gambling in 2023
Last Updated: March 17, 2023
Are you interested in cryptocurrencies but have no proper understanding of their investment strategies? If you’re an investor with little to no knowledge about virtual investments, this might be the opportunity to learn about and choose a cryptocurrency trading strategy. This article addresses the various cryptocurrency strategies, definitions, and shared facts and provides you with tips and tricks to help you start your virtual investments the right way.
What Is Cryptocurrency Gambling?
For some, gambling with cryptocurrency may seem like an alien notion, but for those willing to take a small risk with their investments, crypto gambling is just another means of expanding their wealth.
- Invest in a few coins.
- Place your bets on a game.
- Expect the best returns.
While some may use a bitcoin gambling strategy and bitcoin trading strategies interchangeably, the primary difference between the two is that bitcoin trading requires you to have a broader scope of knowledge about the crypto market, while blindly investing would categorize it as gambling. In addition, regularly keeping track of the volatility of digital currencies is one way to avoid any losses when investing in cryptocurrencies.
|NOTE: On February 8, 2021, the CEO of Tesla, Elon Musk, confirmed that he had spent $1.5 billion to buy bitcoins, spiking the crypto’s worth by almost 30%, The Sunday Morning Herald.|
Cryptocurrency Gambling Strategy
Crypto gambling strategies vary according to the casino and type of currency used. Bitcoin is the most famously used cryptocurrency for gambling. Earning profits through gambling is not as challenging as you think with the help of a betting strategy. Online casinos host live table games, pool, blackjack, dice, roulette, and many other games (similar to physical casinos) where you can apply your best bitcoin dice strategy and earn profits. Doing research and understanding the crypto market helps investors make the best choices for their pockets.
Consider these eight tips so that you can gamble crypto to your best odds:
Understand Market Trends and Currency Fluctuations
Although cryptocurrency surpasses the average problem of money duplication through its provision of anonymity, it’s still subject to market fluctuations. This means that these currencies are likely to be subjected to taxation and market regulations over the years. So, for instance, if you’re an investor interested in cryptocurrency, you must understand its value fluctuations and be well-versed in a modern bitcoin strategy before blindly investing in them.
Low House Edge
Another essential strategy is to learn about the low house edge—profit earned by the hosting casino through your extended time of playing their games. This would refer to the casino advantage at your expense. By using a bitcoin gambling strategy, you can overcome the low house edge to a certain point while keeping in mind the legitimacy of the casino and the games that you invest in. This is why you need to check the legality of the gambling house before investing in their games.
Provably Fair Games
Along with casinos, the hosted games need to be provably fair through an algorithmic structure. Typically, slot machines are programmed to payout 0% to 99% of the money wagered by players in the form of their winnings—known as the payback percentage or returns to the player (RTP). If casinos do not host provably fair games, then the entire legitimacy of the casino falls into question. Furthermore, sometimes the customers may not be able to earn their share of profit due to this reason. So it’s crucial for crypto investors to thoroughly check these nooks and crannies before engaging in a bitcoin gambling strategy.
Find Casinos That Offer Games of Reputable Providers
A safe cryptocurrency strategy is to find a casino that has a license and offers games from reputable providers, such as NetEnt or Microgaming (the aces of software lines). Microgaming was the first to develop an online gaming casino in 1994. Whereas NetEnt has been reputed to deliver flexible digital casino solutions to their customers. Once you invest in a reputable place, you’ll freely be able to make use of your crypto strategy to your best advantage.
Find Casinos That Offer Bonuses and Loyalty Programs
Suppose you’re looking to expand your crypto strategy to earn extra lucrative digital funds. In this case, investing in casinos that offer bonuses and loyalty programs is one way to upgrade your investment strategy. Loyalty or rewards programs are online casino schemes that reward players with loyalty rewards, VIP bonuses, and many more for their loyalty. Boom Casino, Casino Joy, 888 Casino, and House of Jack are the few among many hosts which offer a beginner’s bonus, birthday bonus, and VIP bonus schemes.
It’s essential to know your customer (KYC) and their personal information to avoid risks in an online business relationship. Additionally, this cryptocurrency investment strategy requires you to ensure that your methods align with the anti-money laundering policy.
Use More Popular Digital Currencies
Cryptocurrencies have taken the spot for the flex of every business. Still, in the heap of all the new digital coins backed by blockchain technology, the cryptocurrencies accepted are typically Bitcoin, Dogecoin, and Ethereum. These popular currencies are more broadly accepted in casinos and gambling houses than their less popular counterparts. Moreover, a few strategies allow crypto gamblers to maintain control over their currencies and maintain security since anonymity while gambling is usually not allowed, especially while using bitcoins.
Card counting without the assistance of external counting devices is acknowledged to be legal in most countries. It’s a tactic that you can use to overcome the house edge. For experienced blackjack players, this is an excellent area to earn extra profits.
|NOTE: Although Satoshi Nakamoto is recognized as the creator of bitcoin, their original identity is still anonymous, Bitcoin.com.|
|Cryptocurrency gambling allows you to expand your virtual wealth by several folds with the use of bitcoin strategies.|
|It’s essential to research the crypto market before making investments blindly. Market knowledge is what distinguishes gambling from trading.|
|Bitcoin, Dogecoin, and Ethereum are the most widely accepted forms of cryptocurrency.|
|Make use of popular casinos and currencies for maximum profit of your investments.|
|Ensure the places where you invest are legitimate and abide by fair play.|
What Is Crypto Trading?
Crypto trading entails buying and selling cryptocurrencies for profit. A crypto trading strategy involves a few simple steps for transactions.
- Setting up your digital wallet.
- Learning the market system of cryptocurrency to find and benefit from the best crypto trading strategies.
- Setting up goals and trading plans.
- Setting up links with other potential traders through trading platforms.
- Exchanging ownership.
The trade can work both ways, and transactions do not carry extra charges than what you want to buy/sell. Bitcoins are the highlight of trading due to their trusted anonymity that doesn’t allow any personal information to be distributed. A bitcoin betting strategy is also applicable to other forms of cryptocurrency—like Litecoin and dogecoin—but users worldwide deem bitcoins the safest option.
Cryptocurrency Trading Strategy
Cryptocurrency consists of active and passive ways to earn money via crypto investing strategies. Note four of these ways:
The general law of trend trading is a strategy that requires investors to sell cryptocurrencies when prices go up and buy when prices go down. This allows investors to check the trade volume and avoid (or reduce) their losses while dealing with assets. Investors can earn maximum profits by comparing the golden cross vs. death cross to check trade volumes.
Scalping is one of the active trading strategies that require traders to take advantage of every minute change in the pricing of the cryptos, which ensures small amounts of profits to be incurred regularly rather than earning large amounts with significant changes in pricing.
Buy and Hold
This is a passive trading strategy incorporated by investors who purchase cryptocurrencies (or any other asset with the currency) and hold them for an extended period, irrespective of market fluctuations. Buying and holding are done to redeem the total value of the asset/currency at the time of value redemption and helps the investors avoid several risks.
This is among the passive cryptocurrency trading strategies where the benchmarks’ returns (security markers) are replicated. Index investing is popular for its low-cost maintenance compared to some actively managed strategies.
|NOTE: China is the largest cryptocurrency miner; yet, it is not considered legal tender in the country, European Business Review.|
Cryptocurrencies are deemed the newest profitable trading strategies due to their ability to overcome imitation or double use. But before investing in them, it’s always wise to learn a crypto strategy so that you, the investor, can survive the volatility of the crypto market. These trading strategies are crucial since most platforms accept bitcoin out of all other cryptocurrencies. The key is to actively follow the market trends and keep a keen eye out for opportunities of profit that might cross your way in the minutest change in the market.
Disclaimer: Enjoy gambling, but always practice gambling responsibly.
Bitcoin is considered the best cryptocurrency for gambling. You can make use of your best strategies to gamble bitcoin without any threat to your privacy since it doesn’t allow personal information to be distributed.
But other choices, such as Ethereum, Litecoin, dogecoin, and even bitcoin cash are widely accepted in casinos and other gambling houses. And although your personal information is not given out, complete anonymity is not permitted by most casinos.
Yes. It’s possible to gamble with cryptocurrency; you simply need a good cryptocurrency strategy. It’s the safest mode of gambling virtual wealth and increasing your profit. Several casinos allow gambling with bitcoins, Litecoins, dogecoins, and Ethereum.
No. Although crypto gambling is not defined as a legal or illegal gambling means, several countries still recognize it as a legit means of investment. In addition, the anonymity that gambling sites offer gamblers may make it extremely difficult for the authorities to trace gamblers, leading to the dissolving of several unacknowledged sites. But it doesn’t fall under criminal jurisdiction since many companies are already open to Bitcoin payments in exchange for their assets.
The primary principles of gambling and implementing a cryptocurrency investment strategy are to have a digital wallet and a thorough knowledge of the crypto market. The steps to be followed include:
- Create a cryptocurrency wallet and choose your crypto platform.
- Buy some coins (Bitcoin, Litecoin, Ethereum, and dogecoin are widely accepted).
- Pick a site to play on (Bitcoin and dogecoin gambling sites, such as Betway and Cloudbet casino).
- Deposit your value.
- Pick a game (casinos provide many options).
- Mine the returns.
Although gambling online with cryptocurrency is acknowledged as a virtual currency, it’s not legally recognized as a safe mode for tangible betting. Furthermore, a cryptocurrency trading strategy does not exist here since most virtual spaces do not allow real-life compensation with virtual currency—it only exists on the internet.