To gamble responsibly with cryptocurrencies, you should always do your research and make informed decisions when placing your bets. To make sure your crypto gambling is always an enjoyable leisure activity and doesn’t become a problem, we suggest you always follow these tips before placing your crypto bets:
1.The crypto market is highly volatile; the price of cryptocurrencies might go up or down several percent or even tens of percent per day. To avoid placing your bet right before a big dip in price, causing you to lose your bet, we advise you examine the chart of the coin, before you bet on it. To learn how to read charts and do a full technical analysis of a cryptocurrency, you can visit the NewsCrypto Academy where they offer a free course on this subject.
2.There are many crypto scams and cons that will want to steal your crypto. To avoid losing your funds, never show your password or the private key to your crypto wallet to anyone. Our customer support will never request you share such private information with them.
3.Research the cryptocurrency that you want to bet on and the project behind it.Understand what problem it solves, how it solves it and what intrinsic value it holds. It’s always a good idea to do some fundamental analysis (FA) before risking any money in crypto. If you have never done an FA or you wish to learn more on how to do it, you can visit the NewsCrypto Academy for free lessons, courses and weekly FA reports.
4.Never place a blind bet on a cryptocurrency just because its price skyrocketed or because someone suggested it will go up in price.
5.Understand the so-called four-year Bitcoin price cycles and their effect on the whole crypto market. It might influence the coin you’re betting on in a positive or a negative way.
6.Understand the market cap of the coin you want to bet on and its effect on the risk/reward ratio.Gambling with cryptocurrencies is more complicated than one might think.
To make sure you understand the fundamental principles of blockchain technology and place your bets wisely, we suggest you take some time to delve into this subject. The NewsCrypto Academy offers a comprehensive set of educational content that covers every aspect of cryptocurrencies, from
basics to even advanced analysis and trading strategies, so it’s a good place to start learning everything you need to know.