The steady increase and inclusion of blockchain technology into different industries in the world cannot be avoided and this improvement has already found its way into crypto betting. This is not something to be surprised of as betting with digital currencies provides us with two very important pillars of crypto sports betting: anonymity and security. There are several sportsbooks that allow crypto transactions among which are Stake.com, Cloudbet, and many more.
Bitcoin can be called as the pioneer of digital currency that paved the platform for other types of crypto that exists in the market now.
Bitcoin was the pioneer cryptocurrency that paved the way for other forms of crypto now used. It is still highly valued today and even experiences surges regularly, the same way with others. These other coins that include Ethereum, Bitcoin Cash, Bitcoin are known as Altcoins. However, the risk and problems associated with crypto betting are highly fluctuating. It takes seconds for them to surge up and seconds to crash down. So it is possible that when you placed a bet the value of that crypto was high but during the results, the price decreased.
So as an online cryptocurrency better your question should be why do these fluctuations occur and how can it be handled.
Volatility Of Crypto Betting
Before registering on a crypto betting site ensure that you have good knowledge on how to bet with digital currencies and also the possible issues that you will have to have. In crypto betting coin if you experience any issue ensure you are in contact with the customer care for a quick fix and try to enjoy your overall experience. When you register yourself for any crypto betting exchanges, be rest assured that the problem of volatility may arise, and the crypto betting esports is not responsible for that. In Fact, this is a problem with digital currency in general.
It is a known fact that fiat currency is much more stable than digital currency. This is because the cryptocurrency’s value faces a lot of fluctuations and as a result, the entire profit that you could have earned gets tampered with if you bet online in a crypto betting game.
Even though every asset has its own level of volatility, the digital currency will automatically take the first position if there is any comparison among asset’s volatility.
For instance, suppose you bet 10mBTC when the value of 1mBTC is $50 if you win 30mBTC, but the value of 1mBTC already dropped to $30, rather than have mBTC worth $150, the value of your win places you at $90, hence the fluctuation will have cost you $60.
Why Are Cryptos Fluctuating In Nature?
It is very important to understand the reason behind cryptocurrencies being so volatile as that will allow them to work better towards crypto betting.
- Cryptocurrencies are relatively new if compared to fiat currencies that have been around for ages and have been accepted widely. Due to this reason, digital currencies have failed to develop the solidity of assets such as stocks and bonds. Then with time, the unpredictability will end.
- Since many do not know about cryptocurrency, it acts as a piece of negative news and spreads panic among people. So they do not want to use this currency. Adding to that since this concept is new and a bit complex people do not find ease in using digital currencies.
- There are a lot of individuals who engage themselves in crypto investment without proper knowledge. So they follow the crowd without their own brain while investing. So where there is mass purchase or sale of crypto ongoing, they simply follow suits.
Crypto betting Australia and crypto betting UK are the two most progressive countries experiencing cryptocurrency betting. They have identified and started to accept cryptocurrencies in a large number. This acceptance is needed in a mass to bring stability within digital currencies.
How Do You Handle Fluctuations?
Although you cannot determine when the value of crypto will increase or decrease, there are certain ways in which you can handle such fluctuations. They are as follows:
- Knowing the exact time of crypto betting after analyzing the trend.
- Saving the rest
- Gambling more with crypto
- Use stablecoins
Now that you are well aware of what causes fluctuations in crypto betting, you should not waste much time worrying about this and simply work with the strategies that are proven above while betting in the crypto betting app.