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How to Bet on Crypto Trading in 2020

  • Nowadays, the most popular type of gambling is betting.
  • Bitcoin, cryptocurrencies, digital trading – these words are becoming popular in our everyday life.
  • In this article, we will tell you how to bet on crypto trading.
how to bet on crypto trading

Nowadays, the most popular type of gambling is betting. In ancient Rome, gladiators were bet on the victory, and in the modern world, gamblers try to predict the outcome of matches and championships. However, more and more often it is not dollars or euros that are at stake, but digital money. Bitcoin, cryptocurrencies, digital trading – these words are becoming popular in our everyday life. In this article, we will tell you how to bet on crypto trading that is becoming an integral part of the betting community.

What is cryptocurrency?

Cryptocurrency is a digital currency designed to work as a medium of exchange. Everyone knows how high Bitcoin reached in December 2017. After all, $ 20,000 for one Bitcoin is fabulous money! Some people know how to make very effective outcome trading cryptocurrency. For them, this is one of the investment opportunities. They devote a lot of time to studying the risks and trading strategies associated with this activity. These entrepreneurs do financial analyzes before investing and don’t count on luck.

However, there are also non-professional cryptocurrency traders. Regular gamblers perceive crypto-trading as a new risky activity, during which a person experiences very strong emotions, just like in gambling. For such people, cryptocurrency speculation is the same as sports betting, fantasy sports, lottery tickets, slot machines, and high-risk exchange trading. Read our article about Virtual Currencies for Esports Betting. We hope our tips will show you how to bet on crypto trading in online sportsbooks in the USA.

The history of cryptocurrency

The history of this currency began in 1983, when David Chaum, a computer scientist at the University of California, thought about how to combine the anonymity of payments and their transparency for all market participants. He proposed to use an algorithm that allowed a confidential transaction between two buyers but communicated this fact to everyone. In 1997, Adam Back invented a mechanism that can be called the prototype of cryptocurrency. He used the Hashcash security system. Here, you can very quickly verify the authenticity of even the longest operation.

A year later, Nick Szabo began developing a decentralized money system called Bit gold. The scientist worked in this direction for seven years but did not achieve his goal. All these developments were used by Satoshi Nakamoto. It is a person or a group of people united under this pseudonym. Indeed, Mr. Nakamoto presented the first version of the Bitcoin wallet to the public in January 2009 and organized the launch of the system.

how to bet on crypto trading
Let’s bet on crypto!

The blockchain system became the basis for transactions with the new currency. The creators of bitcoin have developed a database that stores all committed transactions in the form of blocks of information. The mathematical algorithm connects blocks. Thus, when the content of one of them changes, you will have to make edits to the text block and then to the entire chain. In our article about Bitcoin: From Pizzas To The Casino Deposits, you can find more information on the topic. These tips will show you how to bet on crypto trading in the Bovada Casino.

How betting on crypto trading started

In the summer of 2018, at the FIFA World Cup, one fan, whose name has not been disclosed, put 38 bitcoins on the Russian team’s reaching the semifinals. After this incident, cryptocurrencies began to enjoy even more popularity among gamblers. Indeed, digital coins attract users by their decentralization, anonymity, transaction speed, and lack of large fees. Today, many bookmakers accept cryptocurrency.

Cryptocurrency bookmakers can be divided into three groups. The first will include those companies that allow you to replenish your account, place bets, and withdraw profits in digital coins. In the second, there will be offices where they accept cryptocurrency but immediately convert it. Thus, all calculations are carried out in dollars, euros, or rubles. It is also worth highlighting blockchain platforms that have recently begun to appear in the gambling industry. The third type of online sportsbooks in the USA just allow you to bet on crypto trading. If you are interested in it, then learn how to bet on crypto trading and start making real money.

How to bet on crypto trading

Sharp jumps in the rate of the first cryptocurrency attracted gamblers who began to predict the behavior of the main digital coin and make money on it. Several bookmaker services sometimes accept bets on the rise or fall of the price of bitcoin and other digital currencies. All bets are provided at the discretion of the bookmakers. Thus, to make money on the rate forecast, you need to track offers in such bookmakers as Bovada.

how to bet on crypto trading
Are you betting?

You can also bet on the future of the digital world outside of bookmakers. In May of this year, the terms of the bet of Ethereum co-founder Joseph Lubin and Bitcoin Core creator Jimmy Song became known. A year earlier, at the Consensus conference, Lubin said that he would bet “any amount of bitcoins” that Ethereum-based decentralized applications would be used around the world in five years. A year later, the bets were made officially. Now, if Ethereum becomes widespread after four years, Song will pay Lubin around 810.8 ETH. If by that time the dApp ecosystem fails, then Lubin will send 69.74 BTC to Song.

Cryptocurrencies have presented the bookmaker business with a considerable number of new gambling clients who, having received digital coins once, decided to try their luck at sports betting. Blockchain has increased competition in the betting space and forced large companies to adapt to new technologies and master the digital industry. Read the latest 2020 Bitcoin Price Betting Predictions and start making money in the online sportsbooks in the USA.

Crypto trading addiction

Indeed, the rampant craze for cryptocurrency speculation leads to addiction to the virtual world. A person gradually destroys relationships with other people. Besides, one’s unbridled passion for crypto trading even negatively affects his career. Thus, a personal problem develops into a social one. First of all, you need to find out what signs indicate the development of addiction to cryptocurrency trading. Some of them we have listed below:

  • Feeling of muscle tension, excessive sweating, and trembling.
  • Striving to check the cryptocurrency price multiple times a day and even at night.
  • Feelings of anxiety, depression, mood swings.
  • You are deceiving friends and family, you do not want to talk about your hobby or problems related to crypto rating.
  • Constant thoughts about cryptocurrency during other activities.
  • You are ready to borrow money just to continue speculating in cryptocurrency.
  • Ditching other previously favorite activities or entertainment to devote more time to trading cryptocurrency.
  • You try to control your activities, but you fail.

Therefore, if you notice these signs in yourself, you need to take the necessary measures immediately. First of all, you must admit to yourself that you have become addicted to cryptocurrency trading. Then you need to stop with your hobby for some time and switch your attention to something else. For example, you can visit Bovada and have some fun. Learn how to bet on crypto trading in our article Where And How To Bet With Cryptocurrency. Making real money is easier than you think. Good luck!

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