Comparing Profit Potential: Crypto Trading vs. Crypto Casino Gambling
There has always been a thin line between Crypto Trading and Sports betting as both tend to almost tow on the same path. This explains why many people still consider both endeavors as a form of gambling, which wouldn’t be far from the truth if we are keeping it at a buck.
However, aside from the comparison between both endeavors, another angle that’s been given so much attention in recent years is comparing the profitability of both industries.
In this article, we will be doing a deep dive into what each entails, comparing the profitability of both using key industry metrics to give you a more informed view of the subject.
What is Crypto Trading?
In plain terms, Cryptocurrency Trading is simply the art and science of predicting the price direction of an asset like bitcoin by buying and selling either via a CFD account or an exchange. For many seasoned traders out there, their decision to buy or sell an asset is strictly tied to the result of their analysis dictated by the market metrics and even the news.
What is Crypto Casino Gambling?
This is a form of gambling that involves the use of cryptocurrencies as the legal tender for playing games online with the sole aim of making a profit. While winning at casinos mostly revolves around luck, there is a place for acquiring a special skill set to know what to bet on and how to go about it, which is mostly borne out of experience.
What are the Similarities Between Crypto Trading and Crypto Casino Gambling?
As we have noted earlier, there is a fine line between Crypto Trading and Gambling and in this section we will be shedding more light on the subject.
Both Are Risky
One of the commonest points raised when the discussion about the comparison of trading cryptocurrencies and Crypto Casino Gambling is discussed is the risk potential of both financial investments. Although it is often sugar coated, both endeavors, while based around predictions, have a good tendency to go south.
This is because the predictions can hardly ever be 100% accurate. For Crypto Trading, the valuation of most cryptocurrencies like bitcoin is usually volatile and although you might be able to make certain moves based on analysis, it’s not a clearcut pathway as other indicators could contribute to your predictions going in the wrong direction.
On the other hand, prediction of certain outcomes when playing casinos is even more risky as the results are defined by a Random Number Generator to promote transparency. While it is possible to study trends and predict certain outcomes correctly while playing casinos, there is a huge margin for error.
Both Involves the Use of Cryptocurrencies
Another major similarity between Crypto Trading and Crypto Casino Gambling is the fact that cryptocurrencies are the common denominator. Although the way it is used is different for Trading as against when playing at casinos. For Trading, people fund their trading account by exchanging their acceptable legal tender within their region, for the crypto asset they want. And in the case of selling, they exchange their crypto asset for the legal tender. On the other hand, with Crypto Casino Gambling, bettors are allowed to fund their account via their crypto wallets.
Crypto Trading vs Crypto Casino Gambling – Which is Riskier?
Although we have established that both endeavors tend to show similar risk potential, from our findings there are indicators that prove crypto trading to be more risky.
The fact that the value of cryptocurrencies is highly volatile and also the decentralization angle it makes more investors highly susceptible to carrying losses from scams. With many shitcoins parading the space, it is harder for some investors to tell the grain from the debris. Considering there is no regulation or control in place, it puts investors in harm’s way as there are no outlets useful to recuperate funds lost to the scams.
This is hardly the case with Crypto Casinos. Although you’re typically allowed to use decentralized currencies for deposits and withdrawals, the casinos are highly regulated by some top regulators in the industry like the Malta Gaming Authority. This way, the chances of the casinos defrauding unsuspecting players are very slim.
There is no straight answer to this question as both trades can be equally profitable depending on the prism you look at it from. With Crypto trading, you could buy a currency worth $100 and trade within a week to make as much as $500 in profit. The same can be said about the possibility of a casino gambler spinning $100 in crypto to $600 in 7 days.
In fact, some might tilt towards crypto casino gambling because of the huge incentives they are likely to have access to. Several crypto casinos are likely to offer new customers special incentives to help them overcome their reticence in choosing digital coin platforms over traditional online casinos. Currently, FreeSpino is a popular choice among crypto enthusiasts willing to offer a chance to crypto casinos, as it provides several special promotions, from cashback offers to special perks on customers’ first crypto deposits. Moreover, FreeSpino provides a special VIP programme to loyal customers, as their chances of winning increase upon being accepted into the loyalty scheme.
So, in the grand scheme of things, your answer to this question might be easily linked to your bias based on your preference.
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