- Gambling is an old-age game of chance, and odds are heavily dependent on luck.
- Crypto trading has also come to be armed with risks similar to those of gambling. Even though it offers profitable returns, investors have also lost an abundant amount of resources.
Gambling is widely known as the game of taking risky chances in the hopes of getting desired results and winning. The advancement of technology has brought to our doorsteps a smooth, secure, decentralized method of transacting; to say that it is not being overlooked by a government or a controller other than AI would be a disservice to its reputation. This is crypto trading; it is backed by tangible assets with inherent value, allowing for a great deal of value and strategic planning. Hence, sharing features of the game of gambling
How Did Crypto Go From A Mindblowing Way Of Trading To Game Gambling?
The edges have been seen to be blurred when crypto trading is put on one side and gambling on the other in an equation. The similarities have added up, making crypto similar to what it was not meant to be. Both activities represent the allure of gaining quick financial benefit, accompanied heavily by the reality of possible risks.
Trading with any of the currencies on the Crypto platform is risky as the value of these coins is not set, and traders are risking all their investments because if the market moves against them, they lose most of their investment. Similarly, gambling carries the same properties because if the right does not show up, the horse rider fails, or the engine of the vehicle proves to be inefficient, the investment of the money is lost.
Those who are lucky call these games ‘fun,’ while the rest call them ‘uncertain and risky.’ Uncertainty attracts the players towards it. The value of cryptocurrency coins is influenced by a wide range of factors, including regulatory news, market sentiment, and macroeconomic trends, making the outcome uncertain.
When investors invested in the right coin at the right time, they received a significant amount of profit in return in the same manner as gamblers. These investors then urged newcomers to do the same as most gamblers do. This way, the stories of receiving high returns of a profitable amount by investing in crypto have reached everyone on the internet. The fever of hunger for money has taken over all of society like the flu.
The results can be seen clearly in the way people invest in activities like online trading and gambling. The serotonin release at the winning of a bet is equal to the amount felt when one discovers a profitable trader. These psychological feelings make these players and investors come back to these platforms again and again in hopes of a better deal or better luck this time.
Conclusion
The thrilling adventures of trading in crypto and gambling seem to mirror each other often, even though the first one is based on a highly advanced technological system of decentralized transnational activity and the latter is simply defined as the risky game of chance and odds.
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