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Crypto Gambling – Avoid These Basic Online Casino Mistakes

Though cryptocurrencies appear to be popular with a tiny subset of society, we're not convinced it's ready for mainstream use. So when it comes to crypto gambling, we're more than a little nerveous. Utilising crypto is not as straightforwards as using fiat money. Not only that but there are many pitfalls awaiting the novice user. Not only can the money be lost by choosing crypto as your source of casino funding, but the volatility of the coins can see its value fall by more than 50% in a single

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Mistakes To Avoid When Crypto Gambling

Since its inception a couple of decades ago, crypto has made huge advances, particularly in the sphere of public utility. Today you’ll read about different cryptocurrencies and NFTs in most mainstream media outlets. In fact, the drive towards using crypto as both a currency and an investment vehicle seems to have taken some of the public by storm. In order to keep up with this popular trend, you’ll find that many online casinos have dived into crypto gambling. They are happy to accept different forms of cryptocurrency as deposits for online gambling accounts.

One of the major problems when it comes to using crypto for everyday purchases is the fact that the technology is somewhat complex. For a start, it isn’t intuitive. There are many pitfalls when it comes to utilising cryptocurrencies. Especially in the gambling and casinos space for those looking to win the jackpot online. Nevertheless, crypto is appeared to be the future. To that end, we thought we’d have a deeper dive into the pitfalls that many gamblers stumble into when they begin crypto gambling.

A Crypto Gambling Mistake Is A Lack Of Research

If you’re going to be trying something new, and it concerns your hard and cash, then it’s better to do some research before you jump in feet fast. We see many novice gamblers who are new to cryptocurrency make any number of mistakes simply because they failed to fully understand what they’re getting into. Not only should you research everything about the coin in question, but it’s important that you research the potential crypto casino or betting site at the same time. In truth, there are a number of factors you should look out for when you come across a new betting site that accepts cryptocurrency. Probably the most important is that it needs to offer some form of robust security features like 2FA. Also, you’d expect the cryptocurrency casino, like 22Bet Casino, to be offering crypto gambling that requires less personal information than a regular casino.

Check Reviews And Their Customer Support

We suggest that you should be researching the online casino by using their social media pages. Here you’ll see many reviews. Be careful about signing up to a new crypto casino simply because they offer attractive welcome bonuses. Also, be wary of sites that only have limited customer service. Nothing’s worse than if you come across a problem or issue and have a hard time trying to rectify it. Here at Jackpotfinder.com, we believe that probably the most important thing you can do is spend some time doing research on the sites in question.

A good example of this would be to try out their customer support. As a minimum, you’d expect this to be 24/7 and in your language. Keep in mind that customer service isn’t just there to solve problems. If you’re unsure of any payment structuring or the rules of the jackpot games, then you can call them. You should always expect a polite and knowledgeable answer. In truth, customer support is really the only public-facing part of the website. So it’s important that at least this aspect of their business must be 100%.

Lack Of Budgeting

Let’s face it, your crypto gambling journey will be very short if you only have a very small bankroll. That’s why, before you even think about gambling, it’s important that you set up a bankroll. Once you have this then it’s time to set yourself a budget. It’s interesting to note that many gamblers fail when it comes to setting a budget. But more of them fail when it comes to betting and budgeting with crypto casinos. That’s because betting with crypto casinos is completely different from betting with fiat currency. Unless you understand this, then you’ll not be able to increase your jackpot winning chances.

Problem Gambling With Crypto

We should point out that in the UK, problem gamblers are identified as those who have debts of more than £10,000. On the whole, much of this comes down to a lack of budgeting. If you’re going to start gaming with cryptocurrencies, then we suggest that you have a plan in mind before you even open the front page of the site. Nothing’s quite as problematic as betting without a proper plan in mind. The problem with this is that many gamblers start to get emotional. And then they begin chasing losses. All this drama could be saved if they didn’t bet more than they could afford at the beginning.

As a given, we suggest that when you’re gambling at a crypto casino or gambling with crypto then you also need to set yourself a stricter budget. If the wagers are priced in crypto then it’s important that you have a calculator at hand. Otherwise, it’s easy to lose track of just how much real money you are spending. It’s probably at this point that most problem gamblers start spending all their bankroll. Simply because they are unaware of how much the crypto is really worth before it’s converted into fiat.

Understanding Value In Crypto Gambling

When it comes to this happening, the value of crypto can be quite difficult. One reason is that the value of the coin is highly volatile and you’ll notice that it fluctuates wildly on a daily basis. In this respect, it’s much easier to deal with fiat currency. After all, you can bet with nice round figures with multiples of 5 or 10s. But with crypto, it’s a different ball game. You’ll need to understand the value of the actual coin that you’re betting with. Keep in mind that you won’t be betting with a whole Bitcoin, which today’s worth around $46,000. You’ll actually be using small fractions of a single coin. Once again, this can make budgeting quite difficult.

Following on from this, it’s equally important that you understand the value of your coin. Especially on the particular day you’re going to be betting. Because of the volatility of the coin, where values can increase or decrease by up to 50% on a daily basis. So it’s important that you take a different approach when it comes to value in crypto as a means of funding your betting. If you go to 22Bet Casino, you’ll see that they accept all types of cryptocurrencies, including Litecoin, Dogecoin, Monero, Dash and Bitcoin. We suggest that you check the volatility of each coin before purchasing.

Reading The Website Terms and Conditions

As you probably well know by now, here at Jackpotfinder.com, we are sticklers when it comes to the small print. When you’re looking for the best casino site to play, we always insist that you spend some time before joining a site by reading their times and conditions. The biggest mistake new gamblers make is when they sign up for a new crypto gambling website based on all the flashy advertising and tasty welcome bonuses. Only later do they realise that things are not what they seem. Had they read the terms and conditions beforehand then they wouldn’t be faced with these unfortunate surprises.