Betting and crypto trading

I don't find it right to make a comparison between betting and crypto trading. Both are risky, but the risks involved are different.

For example; Let's say I bought 0.002 bitcoins with the $20 I have. Right after the purchase, bitcoin started falling… the decline continued and my $20 became $10…

…but the amount of bitcoins I have remains unchanged! I still have 0.002 bitcoins. If I am patient, I can cover my loss and make a profit when the market rises again.

Now, let's say I bet $20 a side on any sport. The bet is lost and the entire $20 is gone, never to be returned!

Now we now equate the risk in crypto trading with the bet? Of course no!

However, we can reduce risk by voluntarily and consistently only taking bets that we know and think will win, and by avoiding side bets as much as possible.

We are chasing 5% 10% gains in crypto trading, if we are lucky, such gains can be made in a few hours, but in some cases it may take days, maybe months. However, it is quite simple to catch odds such as 1.05, 1.10 in betting. The biggest risk here is not to succumb to the greed to win and to build the whole game on not losing. The biggest advantage in this matter will be a strong will. The biggest obstacle will be the constant desire to win.

The picture contains the bets for the last 3 days. The green ones are the winning bets and the red ones are the losing bets.

A total of 12 bets have been received and 11 are green (won) and 1 red (lost) bets.

I am not doing this to brag or to show you my winnings, if you look at the numbers that have already been played, you will realize that the values risked are not very large.

There are those who prefer to bet in every way, and they are mostly interested in high odds. The higher the rate of the bet received, the higher the risk taken. These are purely luck based bets and the luck factor is not half. It's mostly for the cashier.

My advice is that no one should bet, but if you do, minimize the risk! How can you do this? You can bet on the next goal without side bets on the matches of the countries and teams you are interested in and know. The odds of winning are higher when you place bets on sports and teams that you think you really know, and where the risk is kept low.

Although betting and crypto trading are different from each other, you can also think of betting as a crypto trade. How? Let's say we are targeting 10% profit per day in crypto trading! Now let's try to get 10% profit from betting. When we choose the most suitable one among the ongoing matches, let's take the bet when the odds go up to 1.1 and above, and let's end our bets for that day as soon as the bet wins. We can go on like this every day with 10% earnings per day… but the most important thing for this will be a strong will!

Those who show weakness in will should stay away from betting and gambling. Betting and gambling takes all they have from you! It takes not only your money but also your loved ones!

The article was originally published by me here.