You’ve got a fresh bankroll, you’re ready to invest, but you want to ensure you get the most bang for your buck (or Bitcoin or any other Cryptocurrency as the case may be). Although there are plenty of options out there for you, you’re sizing up the potential of bitcoin casino games and the forex market. Naturally, here at Bitcasino, it’s obvious where our allegiances lay. However, in the interests of science and helping you make the best decision possible, we’ve decided to break down the positives and negatives of each. Now, whichever way we swing on the “casino vs. forex trading – what to bet on” question, you can put your money wherever you wish. However, what we would suggest you do is think about the points we’ve raised below and then make your decision. Whether you agree or disagree with our arguments, it’s important that you think about the facts before you make a decision.
What is Forex Trading?
Before we engage in the “casino vs. forex trading: what to bet on” debate, it’s important to talk about what forex trading is. In simple terms, forex trading is the act of investing money in a currency pair. The reason the forex market deals in currency pairs is because you’re banking on one currency changing against the value of another. Now, the great thing about forex trading is that you can choose a currency such as GBP and bet on it either strengthening or weakening against a currency such as USD. Once you’ve chosen a currency pair, the way you make your money is based on the movement of your chosen currency in one way or the other. Each movement is known as a pip and, when you pick your stake, this will determine the amount you make when a pip moves.
For example, let’s assume you bet on GBP getting stronger against USD. You stake £0.10 and GBP improves by 10 pips. In this instance, you’d make £1. However, if you made the same trade and GBP went down in value by 10 pips, you’d lose £1. Now, there are things known as leverage and stop-loss limits (etc.) that come into play but the main premise of forex trading is that you’re betting on the movement of one currency against another. Of course, if you put in the hours and things go your way, forex trading can be hugely profitable. However, as you can see from our small example, it’s also possible to lose a lot of money in a short space of time.
Casino vs. Forex Trading: What to Bet on as a Newbie?
Now we’ve talked about what forex trading is, let’s run through a few positives and negatives it offers when compared to bitcoin gaming. Because there are always exceptions to every rule, we’re going to look at this argument from the perspective of a newbie. Basically, if you’ve got some cash and you’re weighing up the “casino vs. forex trading, what to bet on” question, these are the things you should take into account:
Big Wins vs. Steady Wins
Forex trading is a great way to bank some big wins. Because there are micro-changes in the value of a currency almost every second, you can make a lot of money extremely quickly. Naturally, the opposite of this is that you can lose a lot in the blink of an eye, but the fact remains that there is plenty of money to be made in the forex world. However, if you’re a newbie, the “go big or go home” way of thinking isn’t one that you should utilise. Even if you ignore concepts such as bankroll management, your main aim as a new player in the betting world should be to make tiny profits. Games such as European Blackjack, Common Draw Roulette, and even Gunslinger slots allow you to do this. Yes, you can still lose money, but not at the speed you will in the forex arena. So, while the profits might not stack up as quickly, they will stack up and you should embrace this.
The Bonuses Aren’t as Big
Although some forex trading sites will give you free credits to start trading with, they can’t compare to the 2,000 m฿ you can get on your first two deposits at Bitcasino. In fact, even if forex sites could match this offer, it’s highly unlikely they’ll give you extra credits each time you make a deposit, free spins, and everything else in between. We do give you all of these things and that’s why newbies get a better deal in the bitcoin casino world than anywhere else. Of course, we’re slightly biased in this respect, but the facts speak for themselves. We give you two welcome bonuses. We give you a 25% reload bonuses for every subsequent deposit, free spins on select games, and VIP prizes for our top players. Basically, if you want to win even if you’re not winning, you can only do it in the casino world.
Casino Gaming is Easier
If we strip back everything and look at the basics, casino games are easier to understand than forex trading. Aside from the complex details of investment, you need to constantly be on top of the game if you want to invest in forex. Looking at the currency markets, working out economic conditions, reviewing political moves, and everything else in between is the only way to make successful trades. In reality, this is a full-time job. When it comes to casino games, you only have to understand a few basic rules and you can make a profit. For example, roulette asks you to make two main moves: choose your bet and pick a number or set of numbers. Everyone, regardless of how much experience you have, can learn this and then make some money. In reality, this is the main reason casino gaming is better than forex trading if you’re a newbie. Yes, you can make money trading currencies but the smartest, simplest, and the steadiest way to boost your bankroll is through bitcoin casino games.