Crypto Trading and Its Associations with Online Gambling
Crypto trading has become big business. Crypto traders make money buying and selling various cryptocurrencies. Although most believe crypto trading is similar to stock market day traders, that’s not true. Crypto trading is more in line with online gambling. Check out the associations that crypto trading has with online gambling.
Online Gambling Associations with Crypto Trading
1. Novice crypto traders and online gamblers often fall for FOMO
FOMO stands for the fear of missing out. Online gamblers, especially novices, are prone to always go for the jackpot if they’re a casino player, or side with the public, i.e., bet the chalk, if they’re new to horse racing or sports betting.
Novice crypto traders jump on the latest, greatest, crypto, not knowing that many cryptocurrencies are designed as pump and dump coins. Few are designed like Bitcoin, Ethereum, Sui, or PraSaga’s upcoming coin, with blockchain utilization and stability top of mind.
2. Many crypto traders and online gamblers look for value
While novice crypto traders and online gamblers fear of missing out, there are plenty of crypto traders who search for value.
The name of the game for professional handicappers is value. But value isn’t just in sports betting lines or casino game payouts. Value is also created by how, like crypto traders, gamblers handle their bankroll.
Without discipline, creating value by managing one’s bankroll or crypto investment account, both the crypto trader and the online gambler will fail.
3. Online sports bettors and crypto traders study trends
Trends in crypto trading is listening to news and looking at charts. The same is true for sports bettors and baccarat players.
What happened in the past doesn’t happen in the future, which is why it’s important for crypto traders and online gamblers to pay attention to number 2 on this list. But trend betting, stat studying, and listening to the last news, for instance an injury to a starting NFL quarterback or the announcement that a major fund has decided to invest into a crypto, are big.
4. Unlike stocks, crypto trades are short-lived trades, just like most sporting events
Casino games can last seconds. A horse race often lasts less than two minutes. The longest NFL game is 3.5 to 4 hours.
A lot of crypto traders, unless they invest in Bitcoin or Ethereum, don’t often keep their trades on for that long. Many crypto traders play a crypto, wait for it go up, and then sell.
Online gamblers, like crypto traders, do make future bets. Who doesn’t want money on their favorite team to win the Super Bowl? But the bread and butter of a professional handicappers business rests in day-to-day scores.
5. Both crypto traders and most gamblers believe in individual sovereignty
Bitcoin was the first cryptocurrency that opened the door to true individual sovereignty. In today’s world, individual sovereignty means not only control over your money, your property, and your ideas, but it also means control over your digital life.
Crypto traders believe in full individual and digital life sovereignty. So do most professional gamblers. Individual and digital life sovereignty means freedom, which is something both crypto traders and most online gamblers are passionate about.
Where to Bet with Bitcoin
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