Can you deal with crypto volatility by betting?
One thing everyone knows about crypto, from its staunchest supporters to its harshest critics, is that it is vulnerable to volatility. If you invest in digital assets, you are bowing to the fact of that volatility, and may even be embracing it. After all, if you buy low and sell high, that’s the ideal scenario. But if you are a long-term crypto fan, then the volatility can be disconcerting; nobody wants to see the value of their assets fall, even if they are confident that they’ll regain traction in time.
Knowing of the existence of cryptocurrency volatility, is it a wise step to use it in your favor? This is a question that crypto bettors at casino sites like Cloudbet are wrestling with. And if you’re smart both in your betting choices and your decisions on when to invest in crypto betting, then you can make it work for you as a result of that famous volatility. It’s important to be aware of the ways to do this carefully and sensibly, as that is the way you will get the best possible results.
All assets are, to a greater or lesser extent, volatile. They do not retain a certain value permanently, nor do they eternally appreciate in value. Apart from anything else, that’s simply the way money and value works. Crypto is a high-volatility asset, which means that its value rises and falls often and fast. If you are going to use crypto for gambling, it is best to do so when it is either falling or at the bottom of a dip. This way, you will get more betting power for your money. That’s important for reasons we’ll come to.
Which is the best crypto for betting?
To some extent, this depends on how active a bettor you plan on being. If you intend to deposit and withdraw somewhat regularly, then you would be best advised with a coin that has lower volatility in comparison with others. Something like Litecoin or Tether is less volatile than most, and Ripple is another good choice. If you want to harness volatility in your own interests, then Bitcoin is a smart one to go for. Not only does its price rise and fall regularly, but it is reaching the point where it will nearly be at its market saturation, after which its value will tend to rise steadily. So if you bet and win, you can maximize those wins.
Why should you look to deposit at a low point?
If you’re buying crypto to bet, or using your own crypto, you want to start when the value is low, because the less you bet the smaller your risk will be. It’s good if the crypto price is low when you deposit and bet, because your investment will be less in dollar terms. If your bets win, you will increase the value of your deposit that way. And if you hold the money in your account until the price begins to rise, then when you cash out from the casino, you will benefit from both the betting gains and the value gain of your asset.