Did you ever gamble with your bitcoin?

[Nomad]

In 2017, I was a content writer for an online casino site. As a writer, I was asked to join a couple of casino sites so that I could test the sites and write reviews. That's how I ended up funding my casino accounts with Bitcoin. After losing About $100 in a casino (the price was about $900 per coin), I vowed never to gamble with Bitcoin.
Did you ever gamble with bitcoin?

 

[ganibade]

In 2017, I was a content writer for an online casino site. As a writer, I was asked to join a couple of casino sites so that I could test the sites and write reviews. That's how I ended up funding my casino accounts with Bitcoin. After losing About $100 in a casino (the price was about $900 per coin), I vowed never to gamble with Bitcoin.
Did you ever gamble with bitcoin?

However, it's important to approach gambling sensibly and be aware of the hazards when using Bitcoin or any other currency.

 

[Henrywrites]

In 2017, I was a content writer for an online casino site. As a writer, I was asked to join a couple of casino sites so that I could test the sites and write reviews. That's how I ended up funding my casino accounts with Bitcoin. After losing About $100 in a casino (the price was about $900 per coin), I vowed never to gamble with Bitcoin.
Did you ever gamble with bitcoin?

I have never thought of gambling with my crypto coins and don't even feel comfortable gambling with money in general. I am guessing that the price of Bitcoin rose after that loss and you must have regretted more on why you had to gamble with the coin at that time.

 

[Nomad]

I have never thought of gambling with my crypto coins and don't even feel comfortable gambling with money in general. I am guessing that the price of Bitcoin rose after that loss and you must have regretted more on why you had to gamble with the coin at that time.

Well, I was paid as a content creator by the casino site, therefore, even though I lost Bitcoin in gambling, I also earned money for my content.
With out gambling, how could I create content related to gambling.

 

[Riberet19]

I have used platforms like Betfury, Satoshihero or Coincrash in which they give you a fraction of Bitcoin every so often and you can bet it, but I have never used my own Bitcoin to bet it, that I would never do, since it is for investment purpose and not to gambling.

In addition, Bitcoin casinos are usually unregulated or poorly regulated and I do not trust to deposit my Bitcoin there, a few days ago Stake.com was hacked and hackers stole millions of dollars from users.

 

[Grant]

I purchased my first bit of bitcoin back in 2020 I think, from PayPal of all places. In a way it was a gamble when I purchased the Bitcoin, as it never went up in price for me, so after some time I cashed out and moved on from it. I probably would have never gambled it anyway, I'm not much of a gambler.

 

[Ja Sa Bong]

I've not gambled with real money to fund a betting account online. Gambling is the last thing I would do as I'm aware the chances of wining is very slim. I know how valuable my cryptocurrency is and it's off limits for irrational investments like gambling.

 

[Heatman]

I have never gambled with any of my cryptocurrency because I know how difficult it was for me to invest in cryptocurrency after my experience with being scammed of my $1000 investment in Bitcoin from years ago. I'm not going to make that kind of a mistake again trying to gamble with my cryptocurrency when I know that gambling is a risk that I shouldn't be taking.

 

[Nomad]

I purchased my first bit of bitcoin back in 2020 I think, from PayPal of all places. In a way it was a gamble when I purchased the Bitcoin, as it never went up in price for me, so after some time I cashed out and moved on from it. I probably would have never gambled it anyway, I'm not much of a gambler.

Sometimes investing can become similar to gambling. When you invest without knowing the risk and expect to make huge profits, isn't that some kind of gambling? I also seem to have made a lot of mistakes regarding investing in cryptocurrency, and these mistakes are costing me, which I think is similar to losing mon ey in gambling.

 

[Heatman]

Sometimes investing can become similar to gambling. When you invest without knowing the risk and expect to make huge profits, isn't that some kind of gambling? I also seem to have made a lot of mistakes regarding investing in cryptocurrency, and these mistakes are costing me, which I think is similar to losing mon ey in gambling.

This is actually the reason why investors are always advised not to be buying any cryptocurrency because of fear of missing out since they see other people are doing the same thing. There is always a chance of that not being the right thing to do which is always going to turn out to be a very bad investment.

I have seen a lot of cryptocurrency investors lose their money because of reacting this way towards buying any coin.

 

[Nomad]

One of the main reasons why people investing in crypto lose money is because they think they can make money in a short time. Just like with a stock market, you will also need to hold for longer periods. By the way, you never make loss until you sell your assets. Therefore, you should keep holding your assets u ntil the market corrects.

 

[Heatman]

Cryptocurrency investment have never been something that is always going to pay you within a short period of time. This is something that a lot of people who started investing new in cryptocurrency should learn to understand very well because the more they don't understand this, is the more they are going to keep making mistakes that is going to cost them more money in their investment.

 

[Nomad]

Well, you might be able to make money with a crypto investment in a short period (I mean within a couple of months), but you should perfectly time to pull your money. I will give an example. At the start of 2021, dogecoin was one cent, and it went up to 72 cents in September. If someone was able to sell his investment before dogecoin started going down, he could have made really good money.

 

[Heatman]

There is a possibility of being able to make money making use of the strategy in being perfect with how your time your investment but you can only be able to do this if you know how to study all the variables that have impact on cryptocurrency prices to know exactly when to buy before the impact pushes the prices up and for you to cash out before that impact start having low effect on the prices before it will start to fall.

 

[Riberet19]

Well, you might be able to make money with a crypto investment in a short period (I mean within a couple of months), but you should perfectly time to pull your money. I will give an example. At the start of 2021, dogecoin was one cent, and it went up to 72 cents in September. If someone was able to sell his investment before dogecoin started going down, he could have made really good money.

but these cases are somewhat unpredictable for retail investors, I think that those who benefited the most from said price increase were the hodlers, because it is very difficult to predict such movements since there are many variables that have to be met for that to happen, a halving , FOMO, massive money printing, Elon Musk and his tweets and a long etcetera

 

[Heatman]

I've not gambled with real money to fund a betting account online. Gambling is the last thing I would do as I'm aware the chances of wining is very slim. I know how valuable my cryptocurrency is and it's off limits for irrational investments like gambling.

Even though I don't encourage gambling in any way but when it's inevitable that I'm going to gamble, there's no way I would be using my Bitcoin to do it. I would rather use cash money to fund my gambling account.

 

[Nomad]

but these cases are somewhat unpredictable for retail investors, I think that those who benefited the most from said price increase were the hodlers, because it is very difficult to predict such movements since there are many variables that have to be met for that to happen, a halving , FOMO, massive money printing, Elon Musk and his tweets and a long etcetera

Yes, they are unpredictable but you can make decisions based on how the market is performing. For example, if the coin is continuously going down, you just sell it befoe it goes too too deep. let's say you bought a coin when it was 5 cents and it went upto 50 cents before going down. you can sell it at 25 cents and still make 20 cents profit.

 

[Heatman]

This is the same way those who are buying and holding cryptocurrency make money from selling. They will buy at a lower price and hope for the price to appreciate before they will sell it. It's never good to sell your cryptocurrency in loss if you're investing for a long term.

 

[Ja Sa Bong]

Even though I don't encourage gambling in any way but when it's inevitable that I'm going to gamble, there's no way I would be using my Bitcoin to do it. I would rather use cash money to fund my gambling account.

My hard earned money from working my butt's off and my sweat in Bitcoin investment can never be used to gamble or play any online bet or casino games. I would rather use the money to take myself to a five star hotel and enjoy it than gamble with it.

 

[Heatman]

My hard earned money from working my butt's off and my sweat in Bitcoin investment can never be used to gamble or play any online bet or casino games. I would rather use the money to take myself to a five star hotel and enjoy it than gamble with it.

Exactly, there's no guarantee of winning any kind of gambling that you put your money into or even your cryptocurrency. This is the reason why it's better to never gamble at all but unfortunately, those who are already addicted to gambling can never stop.