Yeah!
The main advantage of betting using cryptocurrencies is the freedom to play wherever I want.
in my country, gambling is prohibited, so before cryptocurrencies it was practically impossible to make this kind of bets paying with fiat.
Bitcoin has opened a door to a wider variety of games that were never before possible.
Added to the privacy, security of the payment network and speed of processing, it became something wonderful for me.
Topic: PROS AND CONS OF CRRYPTOGAMBLING. - page 12. (Read 1550 times)
Firstly, crypto-gambling is never a stable source of profit because anything can happen(loss) .
In general gambling is never been a way to be a resources of stable income, regardless if you're playing in physical casino or online. Losing your money is the major cons if you gamble.LOL
You're actually describing the pros of Bitcoin and the cons of gambling! Where's the fun, killing boredom, and earn good sum money (though only for few people)? That's all I mentioned before is the pros of gambling. Moreover not all crypto is decentralized and secure like Bitcoin, please before creating a thread make sure you're understand with your subject first.
Indeed. It seems he's pertaining to Bitcoin based on the pros he stated.You're actually describing the pros of Bitcoin and the cons of gambling! Where's the fun, killing boredom, and earn good sum money (though only for few people)? That's all I mentioned before is the pros of gambling. Moreover not all crypto is decentralized and secure like Bitcoin, please before creating a thread make sure you're understand with your subject first.
The crypto gambling pros:
Gamblers can double their money.
Convenient to play.
Kyc is not needed (if you're not a big time gambler).
These are some of the pros if you gamble online using crypto.
LOL
You're actually describing the pros of Bitcoin and the cons of gambling! Where's the fun, killing boredom, and earn good sum money (though only for few people)? That's all I mentioned before is the pros of gambling. Moreover not all crypto is decentralized and secure like Bitcoin, please before creating a thread make sure you're understand with your subject first.
You're actually describing the pros of Bitcoin and the cons of gambling! Where's the fun, killing boredom, and earn good sum money (though only for few people)? That's all I mentioned before is the pros of gambling. Moreover not all crypto is decentralized and secure like Bitcoin, please before creating a thread make sure you're understand with your subject first.
Since OP talked about being decentralized, let's accept the fact and possibilities that somewhere in the future, we might be dealing in FULL KYC terms at any crypto-gambling sites whether we like it or not. Legit crypto-gambling sites have to deal with the legality of their business and one requirement of it is to conduct a KYC for their users.
Fortunately, we are not in that status yet. We can freely use crypto-gambling sites as much as we can as long as we follow their respective Terms and Regulations. However, even though there's not a mandatory KYC yet at most sites, we can see on their terms that they might ask for KYC for some reasons.
PROS AND CONS OF CRRYPTOGAMBLING.
I know that one of the greatest questions that crosses our mind is “is gambling worth it?” .
Yes, I know that many times it seems almost impossible to win though at the same time it’s the easiest way of doubling up your money.
it's never worth it if you are going for a profit but as a good source of entertainment anything more than that is risky and not worth pursuing, there is a chance for profit but you can't be lucky and it will not be profitable in a long haulI know that one of the greatest questions that crosses our mind is “is gambling worth it?” .
Yes, I know that many times it seems almost impossible to win though at the same time it’s the easiest way of doubling up your money.
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Of course, there is a fly in any honey pot. Playing at an online crypto casino has some disadvantages that are worth thinking about, too.
Firstly, crypto-gambling is never a stable source of profit because anything can happen(loss) .
I prefer dwelling on the disadvantages of playing, it will keep me grounded and will always remind me of the harm and the risk, preferring the advantages will get you to spend and allocate more money and time, you must have perspective on something that has a risk.
Pros: You can earn Money
Cons: It’s not guaranteed
Pros: You may be able to earn moneyCons: It’s not guaranteed
Cons: You will most likely lose money
The gamblers that play through cryptocurrency are liking that because it hides there identify from a third party even the owners of the casinos can't know their players and this is a pros to players but cons comes in loses. Losing is part of the gambling game and luck is what adds to the pros.
Pros: You can earn Money
Cons: It’s not guaranteed
Cons: It’s not guaranteed
Pros: You may be able to earn money
Cons: You will most likely lose money
When I first learned that there was a crypto casino I was a little hesitant. For me, crypto is something that is highly valued, and something that many can't get. Because of this, I was a little skeptical about whether or not I would enjoy the experience of gambling with it. I was afraid that because of this value attached, I would not enjoy my gambling experience.
I guess it's just the difference between putting your money into something that has no value to you and buying something that has real value.
Firstly, crypto-gambling is never a stable source of profit because anything can happen(loss) .
It's actually not.But respect to those gamblers that are making their days well and having a paycheck through their own skills by gambling alone. It's not something new.
However, they're known to be great gamblers if they're making use of gambling as their main source of income. It's not always about win but when they do, they're making sure to set aside for themselves.
Pros: You can earn Money
Cons: It’s not guaranteed
This is just my simple explanation every time someone asked me about pros and cons, gambling is still the same even if you use cryptocurrency or just a simple fiat currency you are still playing with the same system of gambling, which focus more on luck. Though Cryptogambling gives a whole lot new experience, but they are still practicing the same concept, so you just need to choose on which side you are taking in.
Cons: It’s not guaranteed
This is just my simple explanation every time someone asked me about pros and cons, gambling is still the same even if you use cryptocurrency or just a simple fiat currency you are still playing with the same system of gambling, which focus more on luck. Though Cryptogambling gives a whole lot new experience, but they are still practicing the same concept, so you just need to choose on which side you are taking in.
To all the casino was real and legit.Only few are legit and help the brained person to earn using their casino.Some of the casino was scamming people for the poor money.We have to find the good casino to escape from their scam.They even uses the celebrity for the promotion.If you was involved in the scam casino by the promotion.Whatever you had bet,you will loss all money.
Pros
Cons
This could be a good summary of what OP’s trying to say, there can still be pros even if its gambling but seriously, you can find a lot of cons when you gamble, especially if you choose the wrong site so if you’re into crypto gambling better to start using the best platform so you can enjoy their promotions and you can trust them because they are really paying. The risk is high when you gamble, that could be the cons you should also consider no matter what currency you are using. - Much faster settlement of bets
- Ease of deposit and withdrawal
- Gives privacy as it is possible to spend without KYC
- Different bonuses and rakeback provided
Cons
- There is not much of Cons with gambling, other than losing
- Some gambling platforms lie on the promotions.
- Provably fair functioning were flawed and some casinos use it a way to scam people.
Gambling was the good thing to get more money in short period of time.While using the crypto,the advantage is we get output as a crypto currency.The transaction will be faster then the Fiat.If the betting is usdt,the owner of website may keep rotate of the casino money to many sources.So it will double or triple in the rotation sequence.The owner also earn the crypto currency,if the website with crypto currency.
Pros
Cons
- Much faster settlement of bets
- Ease of deposit and withdrawal
- Gives privacy as it is possible to spend without KYC
- Different bonuses and rakeback provided
Cons
- There is not much of Cons with gambling, other than losing
- Some gambling platforms lie on the promotions.
- Provably fair functioning were flawed and some casinos use it a way to scam people.
Crypto gambling is worth it or not will depend on you because crypto is a tool like money you use to gamble. While gambling can be bad for you if you don't have enough self-control. But gambling is a form of entertainment for people who want to play various games.
If you can treat gambling properly, whether it's crypto or fiat gambling, then you don't have to worry about the consequences and maybe you can also minimize the losses that will occur later.
Gambling will always be bad for those who are playing it in a wrong way or perspective. However, if you do set your limits from gambling, be it crypto or not, it will not result into a lot of consequences. Crypto gambling is for those who want to have fun and be entertained, but if you take crypto gambling like a quick rich scheme, you will always result into failure. And may only be the reason for future life's misery if you can't control yourself anymore. If you can treat gambling properly, whether it's crypto or fiat gambling, then you don't have to worry about the consequences and maybe you can also minimize the losses that will occur later.
Let’s talk about the cons:
Ofcourse, there is a fly in any honey pot. Playing at an online crypto casino has some disadvantages that are worth thinking about, too.
Firstly, crypto-gambling is never a stable source of profit because anything can happen(loss) .
This cons isn't an exclusivity of CRYPTO GAMBLING. That is actually a cons of gambling in general, being it fiat or crypto and physical or virtual.Ofcourse, there is a fly in any honey pot. Playing at an online crypto casino has some disadvantages that are worth thinking about, too.
Firstly, crypto-gambling is never a stable source of profit because anything can happen(loss) .
I think a disadvantage of gambling with cryptocurrency is the volatility of the currencies, what means your bankroll will be fluctuating all the time, and depending the market's conditions (like right now), your funds will be constantly going down in value. Maybe you have just deposit 1000$ in bitcoin or altcoins in a casino, but when you start playing, after few minutes, the total value has already dropped to 900$ due to a crash in crypto prices.
That is in fact the only cons specifical of gambling with cryptocurrency I can think about... Another common cons are also found in fiat gambling as well.
No one can take your Bitcoins yonder from you or freeze your 'crypto account' due to the sheer of a inside legal/law-based validity in the system. You own your money and your transactions are safe.
You mean gambling in a way you will stake with bitcoin from your noncustododial wallet? I have heard about this before but I have never seen it, the crypto gambling sites I know are centralized and you will have to deposit into that gambling site address.Ofcourse, there is a fly in any honey pot. Playing at an online crypto casino has some disadvantages that are worth thinking about, too.
Firstly, crypto-gambling is never a stable source of profit because anything can happen(loss) .
This is not about only crypto gambling sites but also all gambling sites and the reason only the amount you can afford to lose should be used to bet.Firstly, crypto-gambling is never a stable source of profit because anything can happen(loss) .
Do not be confused, all the gambling sites I have seen that are using cryptocurrencies for deposit are centralized, not decentralized.
To those for take gambling as a way of making a few bucks, I will say cryptocurrency gambling is the safest and highly private way of gambling, that is since everything is done online and from the comfort of your house you can gamble and no one will know. But the other way around you must be careful not to gamble on a scam casinos because when you have any problem your issues will not be resolved and there will be little to nothing you can do about it that is the only disadvantage I see with the online gambling.
nothing is more secure, private and trusted than a cryptocurrency gambling sitewhatever you do (withdraw or deposit) can be done with safe privacy and without KYC (depending on the rules of the gambling site but you can choose one that does not require KYC)
don't doubt crypto gambling sites because they are much better than fiat gambling sites
KYC is actually one of the cons in crypto gambling. Majority of them will already ask in some circumstances.
For the ones who can't control themselves from gambling it could one of the cons a part from the scam casinos. We have seen many times a user complains because he had excludes their account from the platform and yet losing money for they login back and lose more. This isn't just an issue in crypto but also on fiat base casinos.
I don’t see any cons of crypto gambling especially if you compared it on the regular gambling site since crypto has already a license to operate and offers the same games to the fiat casino unlike before during early days of crypto which only dice and crash games is only popular on crypto. You probably discussing the cons of gambling in general and not the crypto gambling itself since its almost the same besides the payment system.
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