If you are looking for strategies to improve your betting experience and increase the number of crypto you are winning, you have come to the right place. Spread betting has been a form of making money for a lot of successful people, and while it might seem complicated to understand at first, it is actually extremely easy to learn but hard to master.
What is crypto spread betting?
It is speculation on the outcome of the cryptocurrency’s market value change. You are betting whether the price of a certain asset (cryptocurrency) is going to increase or if it is going to decrease. It is as simple as that, and while it might sound like it’s tossing a coin and calling heads or tails, there is a lot more to it.
How to get into spread betting?
The way to start crypto spread betting is pretty much the same as how to use Bitcoin for betting. You would first have to acquire some crypto, get a crypto wallet, and as you do that, you would be able to start spread betting along with anything else that you can do with crypto on the internet.
How does crypto spread betting work?
Like regular spread betting, crypto spread betting works by looking at the value of an asset where you can take a position on the market price without actually owning the asset. Basic concepts of spread betting include short and long trading, leverage, and margin.
Read also our Shiba Inu betting guide
What does short and long mean in spread betting?
The term going short is used when you think the market will decline, and the term going long refers to the opposite, which is the market price increase. In general, as you speculate on rising and falling markets, you would buy when the market is going to go long and sell if it is going to go short.
Let us do an example with crypto, where you assume the Bitcoin is going to decline. With that in mind, you would spread a bet to sell your Bitcoin. The loss or gain from this situation would depend on the extent of your spread bet based on your prediction. If Bitcoin is worth 1000 USD, and you spread a bet that it will fall to 100 USD per 50 USD, this means that if the outcome turns out to be that Bitcoin’s value changes to 1300 USD, you would gain 600 USD as you were correct for 6 points.
The other two terms, leverage and the margin, are quite broad terms, and covering them would take quite a bit, especially if you do not have any experience when it comes to spread betting as well as trading.
Research before you make big crypto spread betting decision
While you could essentially flip a coin every time you are making a spread bet and bet either short or long based on your mood, it is definitely not the correct way to do it, as you could find yourself in a big losing streak. Instead, doing research on something you are going to bet on is the key to success.
For instance, let us assume that you want to spread bet on some crypto that a company like Blizzard Entertainment owned. If you had been following the situation with this company in 2021, you probably know where this example is going.
In the past, Blizzard has been quite successful when it comes to making video games, so your assumption without any research would be to bet that the value of their crypto Is going to increase. However, that would be wrong because if you did a bit of research, you could easily discover that there were some scandals recently and that their stocks are most certainly going to fall, and with that, their crypto.
This was just one simple example of doing research for spread betting, but there are all kinds of data you could incorporate into making your decisions on spread betting. Expert analysis, trading alerts, trading signals, technical indicators, the economic calendar, market screener, and market data are just some of the information you can use to your advantage.
Spread betting not your thing?
If you are not tempted to get into spread betting, you might want to try out crypto sports betting, crypto casino, or perhaps even crypto esports betting. There are various activities that you can do when it comes to betting and gambling with crypto, and if one does not seem to be your thing, like spread betting, you can always keep on looking for something else.
As crypto is becoming more popular, there are more options for using not only Bitcoin for betting but other cryptocurrencies as well, such as Tron, Litecoin, Dogecoin, Cardano, and many others. There are also more sites that adopt crypto as their options for betting every day as well.