Cryptocurrencies are highly volatile, and if you’re looking to take any part in cryptocurrency betting, you should be able to recognize the ideal time to surf the volatile waters.
Would volatility present potential blows to your earnings and deposits? Perhaps, but remember, the greater the risks, the greater the possible rewards. This guide will teach you the ideal time for depositing and withdrawing your cryptocurrencies from your casino wallet.
About Cryptocurrency Volatility
Remember the time Bitcoin went for less than a dollar? Who would possibly have thought that the same digital currency would at some point be worth over $62,000? If you could imagine that, could you also have speculated that the same asset would have dropped to $24,000 within a few months?
Sure, with cryptocurrencies, a sudden splurge of investment might be what it takes to make a single cryptocurrency break through the roof and launch towards the moon. At the same time, an insensitive and wayward tweet from a bored celebrity can cause the next slip.
Going into cryptocurrency gambling, you should be prepared for the risk-double risk. Betting is in itself a risk. Same with the unpredictable nature of cryptocurrency volatility. But then, the good thing is, the more risk you’re willing to take, the more potential rewards you can get.
Suppose you get a hang of betting with crypto, great! Now is the time to gain that double advantage and know the perfect time to capitalize on cryptocurrency volatility.
When to Withdraw Your Winnings
Follow the markets closely. You want to time your withdrawals to periods when Bitcoin is a rally rather than a dip. It would do you no good winning a jackpot or a tournament and withdrawing your earnings when your cryptocurrency of choice was only half its initial worth when you purchased it.
Learn patience. Wait if you have to. Only SELL HIGH. Never sell low. This is the only way you can make the most of your earnings from your crypto casinos.
When to Deposit at Bitcoin Casinos
One basic rule of investment that applies to even crypto deposits: BUY LOW; SELL HIGH!
You don’t want to buy your crypto at a time the price has soared through the roof. Instead, gun for a low price. Buy dips. The gains you make from the volatility of such assets can be instrumental in recovering from losses at the casino or improving the value of your winnings at your crypto casino.
Leave Them In-Between
Here’s what the strategy looks like summarized: Buy BTC for cheaps after a major drop, deposit the BTC in your casino wallet, wager and win, then hold on to the winnings till the value of Bitcoin rises. After this happens, withdraw your winnings and sell your BTC for a higher price to seal maximum profit.
Does This BTC Strategy Really Work?
At times, yes! However, the conditions are not always ideal. For example, you can’t try this at casinos that require you to wager with all your deposits before you can withdraw. The ideal time will pass you by if you have to run by these conditions. Don’t play at these casinos. Instead, go for a casino, like BitcoinCasino.io, that allows you the utmost flexibility.