Crypto trading is and is not gambling at the same time. In general, these two things are different, since you don’t have to visit a casino or play slots and poker to win money. On the other hand, there is always a risk that you can lose money, or a chance to gain something. So, it’s practically gambling, but at the same time is not. Keep in mind that crypto trading is a kind of investment, and gambling is not. If you visit this site, you will learn how to trade, and see all the options you have. Also, it’s pretty obvious that is not a casino, or something like that, and it’s a whole new concept that maybe is similar at some points, but we can never say they are the same thing. Click here to learn more about the other types of trading, so you can easily compare the things, and come to the conclusion by yourself.
Also, it depends on your approach to the whole concept. If you join the crypto market to invest it’s one case, and if you want to trade it’s another. But, in the end, all the results depend on your decisions on what and when to do something. When you gamble, the outcome depends on your luck and chance. Playing casino games is so random, but planning your next move on the trading apps is not. When trading, you must know what you are doing, so you can prevent losing all your money. But, at the casino, you must know when to stop what you are doing, so you can stop losing money. There are plenty of differences, even though these activities may look similar initially. Even though the line is very thin and almost transparent, there are so many differences, that’s really not fair to say that trading is equal to gambling, and vice versa.
1. The answer of the question: Will these two markets meet someday?
They already did. Many online casinos let the players get the prizes in Bitcoins or another preferred cryptocurrency. They can even deposit cryptocurrencies to start playing. But, the chances for something more than that are pretty small. The reason is that crypto money isn’t legalized and widely accepted all around the world. They are a matter of choice for every individual who is into gambling. Also, that means a person can be a trader and gambler at the same time. The money they win while playing casino games can be easily traded on crypto platforms. Or, those who aren’t ready to spend their fiat money, and have some cryptos on the side, can choose to play with them, thinking there is nothing to lose.
Nowadays, the most popular cryptocurrency, the well-known Bitcoin, is facing a lot of difficulties. The prices rise and drop every few hours, making the BTC owners pretty uncomfortable. And they are gambling while making a decision on what to do. Should they exchange all they have right now? Should they wait until tomorrow to see how things are going? Is there any chance for a huge price drop over the night? Or, doubling the worth in just a few hours? These scenarios are completely possible, and so random, that our mind accepts them as gambling.
But the very trading action has nothing to do with casinos, poker, blackjack, or any other popular game you love to play.
2. The definition of gambling compared to trading
It’s a win or loses the game. Every example of our life when we get what we want, or lose what we have, taking some risks, is a form of gambling. For example, going out and being hit by a bus is gambling. If you don’t go out, there is no chance to be hit by a bus. But, if you stay at home, you won’t see any sunlight for weeks, or you will miss the friends’ gathering, just because you are afraid of being hit by a bus. Preparing lunch is also gambling. It may turn out pretty good and delicious, or you can forget about it while scrolling through social media and let it burn in the oven.
Win or lose the game is even the COVID-19 test – you either have it or not.
When you trade your crypto savings, you are working with what you have. The only thing you bet on in this case is the current worth of the cryptocurrencies you own, and the chances for them to get better and bigger tomorrow, or completely fail at that.
Let’s take Bitcoin, as the most anticipated cryptocurrency in the world. It’s something we can’t cash out as a coin, but we can take the equal value in regular currencies. And it’s a bubble. And the bubbles can easily burst into small particles that disappear in the air. We can even compare it to bingo or lottery too. This money is virtual and has a value that depends on plenty of factors, including the current trading activity on the market, the amount of BTCs people own, the power supply requirements, and the overall interest of the people, especially popular ones.
3. The predictions about the future
Even though these two activities seem similar for inexperienced people, those who are into cryptos or gambling (or into both) know all the differences (and similarities). There are a lot of predictions about their future too. Gambling apps are becoming more sophisticated, letting people choose what and when to play, and how they want to be paid. On the other hand, there isn’t much that people can choose when they are active on the crypto market. The value is already defined, and they can choose how big crypto portions will trade, and how much money they will get for that.
We know that this information can be pretty confusing, and it’s the same for all of us. But, we can also conclude that gambling and crypto trading are similar, even though they have different purposes. So, let’s hope that you won’t take any step, without seeing all the options and risks first, and then start the action.