• Home
  • Cryptocurrency
  • Mining
  • Blockchain
  • NFT
  • Metaverse

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

10 Reasons Why Bitcoin Is a Reasonable Long Term Investment

30.03.2023
What is DeFi staking

What is DeFi staking and how to profit from it right now?

04.11.2022
The biggest off-change Bitcoin whale keeps buying BTC

Some lessons you should’ve learned at the current crypto sell-off

02.11.2022
Twitter Reddit
cryptolife.report
SUBSCRIBE
  • Home
  • Cryptocurrency
  • Mining
  • Blockchain
  • NFT
  • Metaverse
cryptolife.report
Home » Comparing crypto trading to gambling is wrong. DOGE is no exception
Gambling

Comparing crypto trading to gambling is wrong. DOGE is no exception

Kostiantyn TsentsuraBy Kostiantyn Tsentsura15.03.2022
Cryptocurrency Explained
Cryptocurrency Explained

Should you compare crypto trading to gambling? Scientists say yes, but common sense says no.

Some economists and even finance professors assure crypto trading and gambling are the same things.

The main argument against crypto as an investment is the term of the digital asset. Allegedly it can’t be assets because of any underlying tangible or intangible object lacking in it.

“The only possible value of crypto items is that some other player might want to buy them at a higher price”, – Professor of Finance at The University of Melbourne Kevin Davis wrote.

But still, all the crypto exchanges treat their customers as investors and propose to them traditional investing instruments. In crypto, evidently.

What is crypto investment

So who is right, and should you be called an investor after buying 0.0019 BTC?

The Nasdaq came with the answer: “While some try to steer the poor away from ‘risky’ crypto investments, these markets represent a unique opportunity usually not so democratically available. Unlike traditional investing, the decentralized nature of the crypto market allows investors of all walks of life equal opportunity to participate. The markets offer a singular chance for historically marginalized groups to grow their wealth”.

According to the University of Chicago survey, more than 1 in 10 Americans invested in cryptocurrency from 2020 to 2021. Among crypto traders, 41% are women, and 35% have incomes below $60,000 a year.

Besides “prejudice, classism, and economic bigotry,” some experts also deal with the crypto gambling/investing problem in the way of perception investing itself.

“The main difference between gambling and investing is that the investor will use diversification tools to reduce risk and reduce the chance of loss. The player typically goes all-in with the only leverage that determines whether he wins or loses”, – USA Today columnist Peter Dunn wrote.

By this definition, even wealthy investors could gamble with their stocks taking unjustified decisions. So the choice of whether invest or gamble with crypto depends only on you.

Sources: Nasdaq, Financial Review, USA Today

Cryptocurrency Gambling Investment
Share. Facebook Twitter Telegram Reddit Email
Previous ArticleEU rejected a crypto mining ban. Ecologists are crying in the corner
Next Article Famous hacker claims to own $7 billion in BTC. We’re jealous but slightly suspicious
Kostiantyn Tsentsura
  • Facebook

Staff writer at cryptolife.report. Kostiantyn is a Ukrainian journalist who has been covering the science-tech industry for five years. Started his career by writing articles about crypto-mining in Ukraine. Has his own experience in trading some coins. Convinced blockchain adept who thinks that crypto community will save the future of the world economy.


Related

Best crypto casinos right now

Three best crypto casinos out there

04.06.2022
Crypto gambling in the Metaverse

Crypto gambling is becoming a thing in the Metaverse. Get a new poker face now!

11.04.2022

Drake partners with a crypto betting site. The rapper bets millions in bitcoin

13.03.2022
Add A Comment

Comments are closed.

Highlights
Bitcoin is going as low as $8,000 Cryptocurrency

Bitcoin could go as low as $8,000 pretty soon. There is a reason for that

14.06.2022

Bitcoin is really low now, but it seems to have support at $23K. Analysts warn…

NFT to help Ukraine gain money

AI created the biggest NFT collection to support Ukraine

08.06.2022
Bitcoin vs gold

Bitcoin vs gold. Five reasons why you should prefer crypto during recession

06.06.2022
Wall Street can actually kill crypto market

Wall Street is killing crypto market and there is nothing you can do

27.05.2022
Follow us
  • Facebook
  • Twitter
  • Telegram
  • Reddit
Twitter Reddit
  • Home
  • Cryptocurrency
  • Mining
  • Blockchain
  • NFT
  • Metaverse

  • About Us
  • Get In Touch
  • T&C
  • Privacy Policy
  • California Notice
сryptolife.report is a media outlet about digital assets and decentralized finance. Our team gathered to build a strong community of crypto enthusiasts who are willing to change the future of the world economy. And the new decision as a decentralized digital economy is already here to come.

© 2023 cryptolife.report

DMCA.com Protection Status

Type above and press Enter to search. Press Esc to cancel.