Gambling on the Value of Bitcoin is Risky

December 13, 2017 by Adrian Thorpe

Gambling on the Value of Bitcoin is RiskyYou are going to have no problems what so ever being able to buy Bitcoin, irrespective of the method of payment you wish to use to order any quantity of that digital currency. Plus, you will of course have the ability to buy as much or as little of that digital currency that you wish to buy too.

If it is for investment purposes you wish to buy Bitcoin, then you will need to factor into the purchase price not only the spot price of Bitcoin when you play your order, but also the additional fees and charges you are going to have to pay when using any of the ever growing number of digital currency exchanges too.

Then you will need to hold onto your holding of Bitcoin until its value rises and then make the conscious decision to sell, to lock in any profit you are going to them make. But do keep in mind when you want to convert your Bitcoin into a fiat currency, by using a digital currency exchange for example to do so, there will be more fees and charges to be paid!

There are of course no guarantees that the price of Bitcoin is going to increase in value, and if it does then you may have to wait a long period of time for the current price to be higher than the price you paid for your Bitcoin.

That s of course what investing is all about, and as long as you are prepared to take the risks and know all about the rick of investing in Bitcoin or any digital currency the it can be a profitable thing to do.

However, you are now going to find a growing number of betting and gambling types sites are going to be offering you the option of placing bets and wagers in regards to whether the value of Bitcoin or for that matter any type of cryptocurrency is going to rise or fall in value over any given time period.

When you make use of such a site you are not going to have to buy, hold onto and then sell your Bitcoin holding to lock in a profit, you simply need to place a bet of any value in the hope that the value of Bitcoin does rise, or even fall over a set period of time, and if it does your bet will be a winning one.

The only problem with using such a betting site, is that whilst you can win when placing such a bet, there is always going to be the chance your bet could lose, and when it does the entire amount of cash you placed o that wager will be lost.

When investing in Bitcoin by buying it, holding onto it and then selling it, you are at least going to get something back, even if its value does fall, so keep that in mind when you do come across a betting site offering wagers on the value of Bitcoin!