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Top 5 Bitcoin Casino Mistakes You Want to Avoid

Top 5 bitcoin casino mistakes you want to avoid

Top 5 Bitcoin Casino Mistakes You Want to Avoid

Top 5 bitcoin casino mistakes you want to avoid

There is no doubt that Bitcoin casinos have always been a popular way to spend one’s cryptocurrency. With how easy it is to set up an account and how quickly you can start playing it’s no surprise that one of Bitcoin’s main use cases is gambling. In this article we will go over the top 5 mistakes people make when it comes to choosing and using online cryptocurrency casinos.

5. Not choosing the right games

If you are looking to maximize your chances of winning, you must choose games that have the lowest house edge. Some slot games can have a house edge as high as 10%! That’s simply insane. On the other hand, some games like Dice, Baccarat, Black Jack, etc. have a house edge that’s only 1-2%. Keep in mind that if you are just looking to have fun then by all means choose whatever game you like, but it’s important to keep the house edge in mind if you are looking to have the most chance of leaving with a profit.

4. Not getting out while you’re ahead

That’s a pretty obvious mistake but one that is often overlooked. Many times, when you are on a winning streak you want to keep going and keep upping the risk. It’s important to set a goal ahead of time, and if you hit that goal get out while you are still ahead. For example if you are planning to spend $100 and decide that if you double your initial investment you are going to walk away, then if you end up with $200 make sure to actually stop playing and taking your profit home. This strategy is similar to stock markets when you decide on a position where you will exit no matter what happens. Otherwise, greed takes over and is only going to hurt you in the long run.

3. Not knowing your limits

Another pretty obvious tip is to make sure you know your limits. This applies to all gambling not just bitcoin casinos. If you end up betting too much and losing it, you will be left with a sour feeling which will just ruin your day. Set a limit on what you are willing to lose that won’t affect you emotionally. Gambling is somewhat similar to trading stocks / cryptocurrencies. Just like you don’t want to go all in into some random altcoin, you don’t want to go all in on a random slot or roulette game, you’re going to have a bad time.

2. Not having fun

This is one of the most common mistakes that happens with those gambling with their Bitcoins, they forget to have fun. Most people are so busy thinking of the profit they want to make that they forget to actually enjoy the moment and have fun. Most Bitcoin casinos have a chat feature which you can use to communicate with other players and just enjoy your time on the platform. Make sure you don’t forget to stop for a second and have some fun!

1. Choosing sketchy casinos

This is definitely the most important tip of all. Make sure you choose a reputable casino when looking to do some online gambling. If you choose a sketchy casino not only are you more likely to get cheated out of your winnings, but most likely you won’t even be able to withdraw any of your profits. There are plenty of scam casinos out there that you definitely want to avoid. If you are looking for some quality cryptocurrency casinos make sure to check out NullTX’s list of top bitcoin casinos for 2019.

Published at Tue, 19 Mar 2019 08:08:00 +0000

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Ukraine Sees Bitcoin Investments Up 500% in 12 Months

Ukraine’s bitcoin investment figures have shot up 500% in a single year, according to bitcoin Ukraine founder Andrey Dubetskiy.


Dubetskiy: Growth Reasons ‘Same Throughout The World’

The figures, which Dubetskiy revealed in comments to local news resource Payspace, represent growth from 500,000 hryvnia ($18,400) to 2.5 million ($92,000) hryvnia per week through 2016.

“The reasons behind the growth are the same as those throughout the world,” he told the publication.

Specifically, distrust of national currencies, an unstable economy, asset movement restrictions, the shadow economy, little choice and regulation of financial instruments, demand for digital and global financial instruments, growth potential for bitcoin’s price as an investment and many others.

Ukraine has become an active participant in both Blockchain studies and bitcoin as a consumer asset.

Despite its recent turbulent political and economic history, cryptocurrency usage has been fostered – or at least left untouched by premature regulation – and continues to serve as an investment alternative to the hryvnia, which since 2014 has lost two thirds of its value.

LocalBitcoins Ukraine volume up

Localbitcoins volumes in Ukraine have also seen their best times ever in recent months, with weekly trading edging towards new highs each week.

“Considering the general upward trend in bitcoin’s exchange rate, the majority of customers are buying in order to profit from speculative operations, while some investors transfer a part of their assets to bitcoin,” Mikhael Chobanyan, CEO of local exchange Kuna.io, added.

Weak Economy + Bank Crisis = Blockchain

In a bid to bail out its creaking economic infrastructure, Ukraine was forced to nationalize main lender Privatbank last December amid concerns “panic” would arise if things were left as is.

“Other banks would not be getting their loans back from PrivatBank, a series of bankruptcies would begin, and there would be panic,” Oleksandr Savchenko, head of Kyiv’s International Institute of Business, commented on the situation prior to the move being finalized.

On the Blockchain front meanwhile, a scheme involving the Central Bank to introduce the technology to governmental processes appears to be gaining momentum.

Q3 last year saw publication of a roadmap from the National Bank of Ukraine for its Cashless Economy scheme, which set out ways and deadlines for use of Blockchain in cases such as payments.

“The [National Bank of Ukraine (NBU)] Board has approved and presented a roadmap for Cashless Economy, which will use Blockchain technology in Ukraine for the first time,” spokesman Konstantin Yarmolenko wrote on Facebook at the time in a post subsequently removed.

Elsewhere, Ukraine was the first country in the world to launch sanctioned bitcoin futures trading on its national exchange. Investor interest was also given as the main motivation for the move, which authorities announced in the midst of the Privatbank debacle.

What do you think about Ukraine’s bitcoin growth? Are you there and seeing changes? Let us know in the comments below!


Images courtesy of Coin Dance, Shutterstock

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