Topic: How is the performance of gambling tokens compare to other altcoins and btc - page 2. (Read 857 times)
October 17, 2022, 10:01:19 AM
They are worth it if you get some benefits from holding the token and especially use that gambling site anyway. Gambling has been a major revenue source to crypto for some time for that reason I'd say this particular flavor of alt coin has a greater base to grow from then most ideas but of course be cautious in your research.
October 17, 2022, 09:47:12 AM
I can see that few gambling websites have their own tokens, is it advisable to invest money in such tokens? Also how is the performance compared to other coins and BTC? Do these tokens follow BTC movement like other tokens? Football club tokens surges when an upcoming big match is around the corner what about gambling tokens. ??
I think you can see the statistics of various gambling tokens, which is where you can analyze the tokens. If you want to take a look, the Coinmarketcap site has recap of the history of those statistics. Please look at the link below.https://coinmarketcap.com/view/gambling/
I don't know if this will change in the future when there will be a new development that can give casino tokens an edge in the market, but until then I will prefer to use those tokens as a utility to play on those casinos aside from that, I can't take them for investment for long term base.
October 17, 2022, 09:27:15 AM
I can see that few gambling websites have their own tokens, is it advisable to invest money in such tokens? Also how is the performance compared to other coins and BTC? Do these tokens follow BTC movement like other tokens? Football club tokens surges when an upcoming big match is around the corner what about gambling tokens. ??
I think you can see the statistics of various gambling tokens, which is where you can analyze the tokens. If you want to take a look, the Coinmarketcap site has recap the history of those statistics. Please look at the link below.https://coinmarketcap.com/view/gambling/
October 17, 2022, 09:06:55 AM
Once bitcoin will begin it's bullrun, there's a high possibility that all altcoins out there especially those that has an active trade paired with bitcoin will increase in value as well. It is not a guarantee to increase but it is highly possible once bitcoin bullruns. These can be also seen to those new tokens that started during the market bullrun as the price rapidly increase comparatively to major tokens out there.
Once bitcoin starts its bull run, there is a good chance that all altcoins out there especially those with active trades paired with bitcoin will also increase in value. It is not a guarantee to increase but it is quite possible when the bitcoin bull runs. They can also be seen in the new tokens that started during the market bull run as the price rose quickly compared to the main tokens there.
You indeed mentioned this, Even if it's just shitcoins it's possible to increase immediately just to keep up with the trend of the bull run, but most of them will only increase temporarily but the stability of their market volume won't last long for sure because only pumps can do it for them but the buy wall and sell wall like other altcoins that they do will increase the market cap volumes that somehow they can keep up with or follow the halving of bitcoin.
October 17, 2022, 07:58:16 AM
I can see that few gambling websites have their own tokens, is it advisable to invest money in such tokens? Also how is the performance compared to other coins and BTC? Do these tokens follow BTC movement like other tokens? Football club tokens surges when an upcoming big match is around the corner what about gambling tokens. ??
Gambling sites have own tokens but not all are good. To understand the good and bad here we need to have good knowledge about that gambling project. If the gambling site is established then its price may increase at some point. In this case, many people confuse gambling tokens and gaming platform tokens. While the two may seem almost the same but there are major differences in reality. October 16, 2022, 02:19:18 PM
Gambling tokens never work like other altcoins and bitcoins and can never do anything as good as them because gambling platform tokens are mostly used for gambling or some other purpose so they don't have much effect on the market and if someone invests in them If they do, they can't make much profit . So Gambling Token can never be compared with other altcoins and bitcoins
Sure they are only made for the purpose of gambling and not for the real focus of hodling a longtime for volume trade and to be utilized in the crypto world. The site specifically build such game tokens for convenient not based on longtime asset as we see in bitcoin, binance, etheruem and other crypto currency too. This is just for the game not for real crypto experience.
October 16, 2022, 02:11:02 PM
Most casino tokens are just chest coins in the marke6, and their price is not meeting up to market standard and their trading volume dropping rapidly, but we still have a few who is increasingly growing in the market with multiple exchanges.
Casno tokens are indeed usually a way for them to make some money on the side. They don't have any utility outside of the casino that issues them and they don't bring any profits outside of the market average. They're there to catch people who are casino players and not really a coin investors and they think that if they won some money they can invest in the casino because it's "free money anyway". Casino tokens are a way to get some of the lost money back in form of client investments.
October 16, 2022, 12:51:15 PM
Most casino tokens are just chest coins in the marke6, and their price is not meeting up to market standard and their trading volume dropping rapidly, but we still have a few who is increasingly growing in the market with multiple exchanges.
That's why I don't even waste my time and money putting in casino altcoins, I just don't like to take that risk when I can buy bitcoin on a good exchange. with so many good casinos that offer many bonuses and promotions and several altcoins as a deposit method why would people all run to create an account at a casino where they have their own currency? even if the casino offered the same things as other casinos it would just make the casinos share the same customers, so for the casino altcoin to increase it depends on the casino having many customers, so it is a big risk to invest in these casino altcoins. Another danger is that these casino altcoins are too lazy to list their altcoins on many exchanges, which even makes investors just use shady exchanges
October 16, 2022, 03:38:26 AM
Gambling tokens never work like other altcoins and bitcoins and can never do anything as good as them because gambling platform tokens are mostly used for gambling or some other purpose so they don't have much effect on the market and if someone invests in them If they do, they can't make much profit . So Gambling Token can never be compared with other altcoins and bitcoins
October 16, 2022, 03:31:08 AM
Almost all altcoins follow through the price of Bitcoin as what we see on the market whenever bitcoin is down so other tokens out there, and it also affects them during the bull run of bitcoin where it pulls all the price of almost every crypto. Casino's tokens are also included on these crypto that are affected by bitcoin price volatility. However, each and every news and update that will cause the price change varies to every casino and project.
If we had known that all altcoins followed the bitcoin price, we would be careful to buy the coin, even if it was a casino token, and learn what the profit could be. But when the bitcoin bull run comes, it doesn't guarantee all the casino tokens can also increase because it will depend on the response of traders and investors. Maybe if there were more benefits for traders and investors, it could lift the price to a higher price level.
October 16, 2022, 02:09:47 AM
We can't compare these tokens with bitcoins or some big market cap altcoins also in term of returns as these tokens have limited purpose and are made for casino usage and reward system to players nothing else.The demand is among players to say buy some spins or open boxes or something like that but not overall demand like btc so they are just say in game tokens through which players can earn some little amounts in market.But not so much returns as you expect from big coins.
October 16, 2022, 12:46:01 AM
It completely depends on you OP.
But the price of the tokens are somehow remains constant. This is done in order to ensure that the gambler gambles the exact amount and don’t make a loss.
Yes the price of the token might increase, if it is being list at some exchanges, but that’s really hard to happen.
So yes if you want to gamble with a fix value in your hand, then you should definitely opt for the casino’s tokens, else playing with BTC or ETH will be really great.
But the price of the tokens are somehow remains constant. This is done in order to ensure that the gambler gambles the exact amount and don’t make a loss.
Yes the price of the token might increase, if it is being list at some exchanges, but that’s really hard to happen.
So yes if you want to gamble with a fix value in your hand, then you should definitely opt for the casino’s tokens, else playing with BTC or ETH will be really great.
Why do you think that gambling tokens are hard to list on exchanges? Do you know freebitco FUN token which is listed on big exchanges?
Anyways, in a bear market, all the altcoins are slow in movement and we do not see any big moves. Most of them are hovering around their support levels. This is also true for the gambling tokens.
If you ask my point of view, i think gambling tokens have a perfect use case and if we are able to accumulate these gambling tokens in the bear market, we are hopeful that these tokens will give good returns in the bull market. Also, this is my point of view as I do include these gambling tokens in my portfolio. Everyone is free to accumulate any gambling tokens and this is not a financial advise.
October 16, 2022, 12:26:04 AM
They sound more like casino tokens (or fan tokens if in sports) in this scenario imo. I wouldn't bet on these coins actually following the BTC market, they're centralized coins after all and their functionality serves as more of a reward for people who use the service, in this case, casinos (or clubs) which makes them gamblers, or fans, unlike in the case of BTC, where most people involved are investors and the like. Not to mention that it's centralized, just that is enough to put it out of the competition and for any relation to happen with Bitcoin tbh.
October 15, 2022, 09:13:02 PM
Most casino tokens are just chest coins in the marke6, and their price is not meeting up to market standard and their trading volume dropping rapidly, but we still have a few who is increasingly growing in the market with multiple exchanges.
It’s normal because casino token is being used for reward by the casino to the players so expect that there’s no much trading volume on it sometimes because no one is buying it regularly since it can be earned by just simply betting in the casino. Typically this kind of tokens will have a demand when they new exchange listing or the casino offers a mining pool for token holder that give a good profit return in the long run.
October 15, 2022, 08:48:03 PM
I can see that few gambling websites have their own tokens, is it advisable to invest money in such tokens? Also how is the performance compared to other coins and BTC? Do these tokens follow BTC movement like other tokens? Football club tokens surges when an upcoming big match is around the corner what about gambling tokens. ??
Like most of the time when it comes to altcoins it is better to stay away from those kind of coins as they have little relationship with the business that is behind them.To me this is just a way for the owners of that casino to raise some cash without having to sell shares of their company and losing control over it, while those that buy those tokens do not get dividends from the casino and they can only speculate with those coins.
October 15, 2022, 05:56:42 PM
I can see that few gambling websites have their own tokens, is it advisable to invest money in such tokens? Also how is the performance compared to other coins and BTC? Do these tokens follow BTC movement like other tokens? Football club tokens surges when an upcoming big match is around the corner what about gambling tokens. ??
obviously you can try it to invest your money in the gambling token, most importantly you have to be able to make sure the gambling site is really in demand by many people and has a good reputation. investing money in it can give you multiple benefits if the price movement of the related token is always increasing and trading activity is growing every day
It is very difficult to determine for me so that is why it is very risky to invest in casino tokens, all you have to do is have a little bit of research on it their legitimacy and reputation.
it would be difficult to know if you are not a regular player of the casino. but let's say for example the bfg token in betfury, if you are consistently playing on their casino, you would know what promos they have for their token. like right now, they are running the in-house bfg burning hot battle. so what i am saying here is if you do want to invest in a casino token, much better if you are also a regular player of their casino so you can get the benefits of owning it.
October 15, 2022, 02:20:53 PM
I can see that few gambling websites have their own tokens, is it advisable to invest money in such tokens? Also how is the performance compared to other coins and BTC? Do these tokens follow BTC movement like other tokens? Football club tokens surges when an upcoming big match is around the corner what about gambling tokens. ??
obviously you can try it to invest your money in the gambling token, most importantly you have to be able to make sure the gambling site is really in demand by many people and has a good reputation. investing money in it can give you multiple benefits if the price movement of the related token is always increasing and trading activity is growing every day
It is very difficult to determine for me so that is why it is very risky to invest in casino tokens, all you have to do is have a little bit of research on it their legitimacy and reputation.
October 15, 2022, 10:28:01 AM
Most casino tokens are just chest coins in the marke6, and their price is not meeting up to market standard and their trading volume dropping rapidly, but we still have a few who is increasingly growing in the market with multiple exchanges.
It’s normal because casino token is being used for reward by the casino to the players so expect that there’s no much trading volume on it sometimes because no one is buying it regularly since it can be earned by just simply betting in the casino. Typically this kind of tokens will have a demand when they new exchange listing or the casino offers a mining pool for token holder that give a good profit return in the long run.
Or it will be just a niche for gamblers, so it's going to be very difficult to attract lets say average joe investors because it might not be for them, just saying.
Of course, it will have some advantage for us gamblers, but then again, I will say that majority will still prefer the old way of playing with Bitcoin and rest of the altcoins that are cheap but fast in transaction and not used the native token of that gambling platform.
October 15, 2022, 10:07:20 AM
Almost all altcoins follow through the price of Bitcoin as what we see on the market whenever bitcoin is down so other tokens out there, and it also affects them during the bull run of bitcoin where it pulls all the price of almost every crypto. Casino's tokens are also included on these crypto that are affected by bitcoin price volatility. However, each and every news and update that will cause the price change varies to every casino and project.
If we had known that all altcoins followed the bitcoin price, we would be careful to buy the coin, even if it was a casino token, and learn what the profit could be. But when the bitcoin bull run comes, it doesn't guarantee all the casino tokens can also increase because it will depend on the response of traders and investors. Maybe if there were more benefits for traders and investors, it could lift the price to a higher price level.That's how the bitcoin dominance we know currently even the market is crash still there's a support cant break which is the 18k-20k of the bitcoin and if this is already the floor there's a chance that once you make an invest with those coins of the gambling casino there's a possibility they rise up so aside from the utilities of these coins you can make a profit but still that's depends how you will look for those coins to hold or just to use for the casino perks.
October 15, 2022, 09:50:59 AM
Most casino tokens are just chest coins in the marke6, and their price is not meeting up to market standard and their trading volume dropping rapidly, but we still have a few who is increasingly growing in the market with multiple exchanges.
It’s normal because casino token is being used for reward by the casino to the players so expect that there’s no much trading volume on it sometimes because no one is buying it regularly since it can be earned by just simply betting in the casino. Typically this kind of tokens will have a demand when they new exchange listing or the casino offers a mining pool for token holder that give a good profit return in the long run.
Jump to: