Joined: Feb '11
Location: United Kingdom
Age: 59 (M)
Posts: 5712
Hi. Crypto is always a risk, but hey, the sites that accept the currency probably take the higher risk than the player. Yes they will benefit from the massive gains that can be made in fluctuations but will also take the hit of any drops in value...while you will only ever have invested ‘x’ amount of say dollars worth. So for punters it’s not that much of a risk and then you only withdraw when you get a good rate.
Joined: May '09
Location: Croatia
Age: 39 (M)
Posts: 20403
for me crypto is not secure because he can change value very fast and you can know what amount you will get after few days if you want to make cashout!ofcourse you can get more,but you can get less and fees are different for crypto when you make cashouts,so why to pay much bigger fees,when you dont have any with cash?!
Joined: Feb '11
Location: Latvia
Age: 62 (M)
Posts: 7
I think it's to risky for real investing. Well, I could consider keeping a small percentage of my bankroll in crypto for fun, but definitely not an alternative to traditional currencies.
Joined: Aug '08
Location: Poland
Age: 41 (M)
Posts: 804
I also think that the risk is too high, although I will honestly say that I don't know anything about cryptocurrencies at all ... Maybe a little bit and I regret that once at the very beginning I wasn't interested in bitcoin because later you could earn a lot on them by investing little ... and now it seems to me that these currencies are very risky
Joined: May '08
Location: Germany
Age: 59 (M)
Posts: 6786
Crypto as a whole didnt had a good 2022. But so did other assets. With the major coins one should be save. Just avoid the "to the moon" stuff. Volatility is high, tho. But for players in some countries with tight regulations, crypto may be the only option to deposit at poker rooms and casinos. So it has it usage.
Joined: May '09
Location: Croatia
Age: 39 (M)
Posts: 20403
I know how big fee was for russian players when party poker made news about crypto!it was some fee plus 4 % of that amount that you want to withdrawn?wtf?when you make deposit then its ok,but when you want money out then they take big amount!its not normal and ofcourse you dont know what value of crypto will be next day and will you get more or less!
Joined: May '08
Location: Germany
Age: 59 (M)
Posts: 6786
The transaction fees for Bitcoin are usually quite high. That is part of running the whole system. But i guess the rooms/casinos will get their share of the cut too. So it makes sense only for quite high transactions. And the ruble had its fair share of fluctuations too. So one doesnt know where its value will end up the next day.
Joined: May '09
Location: Croatia
Age: 39 (M)
Posts: 20403
thats why that there are lot of problems with crpyto and gambling and that is much easier to have cash and credit cards and that you are sure!with crypto you are not sure in anything and you must pay to site fee and who know what else and whats the point?now crypto worth less then it was months ago!
Joined: May '08
Location: Germany
Age: 59 (M)
Posts: 6786
At the moment crypto is really only useful for those, who have no other options to move funds around. And some coins may even return to their former value over time. But that is no help for those, that need to cash out now.
Joined: Jan '14
Location: Romania
Age: 44 (M)
Posts: 13298
cryptocurrencies have the role of taking away the freedom of mankind. The system wants to make us slaves. If someone don't believe this, is better to be informed. Cash money cannot be controlled, but virtual money can and at that moment when cash disappears, we lost our freedom.
Joined: Jan '14
Location: Romania
Age: 44 (M)
Posts: 13298
the idea is for cash money to work in parallel with cryptocurrencies. Some people think that it is good in that way and i hope that humanity will fight for freedom, otherwise it will be enormously difficult for them.
Joined: Aug '08
Location: Poland
Age: 41 (M)
Posts: 804
to be honest, I don't know much about cryptocurrencies... but if for some countries there are restrictions in some casinos, poker rooms, etc. when it comes to deposits and they have no other option to deposit/withdraw, then a better option, even with a high commission, than none
Joined: May '09
Location: Croatia
Age: 39 (M)
Posts: 20403
its much easier to have card or skrill,to make cashout and get money in few hours,days or whatever option is!in my country we have system where your money is in one second on your card and you can spend it right away or pick up on atm!every casino,betting page work with this app and its perfect system!so thats why I dont need to wait to see how crypto will be tomorrow of how much they will take for fee! from new year we have euro,so people have problems with that also
Joined: Dec '14
Location: Greece
Age: 40 (M)
Posts: 2118
Many use cryptocurrency these days , it a fashion kind of , there is the possibility to win money by investing and waiting to win big. Although rates change from day to day . I see many want yo take money on their crypto wallets , so maybe they want yo incest . I saw in another poker forum many choosing to take money on a crypto friendly poker room rather than PokerStars or skrill . I guess there are chances to win with cryptocurrency nowadays . I would like to try it on the future .
