We recently looked at Rollbit crypto casino. Though Rollbit has been around in its current form for over a year, recently, the platform went through a makeover (version 2.0), giving us ample reason to feature it. Pengwins N.V. runs this online casino, the same company responsible for EZRage, the famous CS: GO gambling site.
So far, Gosu’s have yet to warm up to Rollbit Bitcoin casino. However, the site is making strides to make itself more appealing each month. Its most recent attempt involves the launch of Rollbit trading. Now Rollbit casino users have the opportunity to bet on values of two cryptos, Bitcoin and Ethereum, going up or down. We elaborate in-depth on this option below.
What Is Cryptocurrency Trading?
For the uninformed, coin-based trading is the practice of speculating on cryptocurrency price movements. As everyone knows, trading is a rudimentary economic concept that involves the selling and buying of assets. In a financial market context, the assets are financial instruments. These can be bonds, stocks, margin products, options, or cryptocurrencies. For this article, we will only focus on the latter.
Trading as a term in this market most often refers to short-term trading or actively entering and exiting positions in a small window of time. Meaning, you try to take advantage of market volatility to turn a profit. Volatility describes how fast the value of an asset can change. It usually gets calculated on an annual level or over a shorter period. It is a measure that shows the speed with which prices change and acts as a risk assessment guide.
In essence, trading is betting if a currency will rise or drop in value. It is a form of gambling. A position is your bet on what you think will occur. Whenever you buy a coin at an exchange, in a sense, you are trading if you hold on to that coin and not use it instantly.
What Determines the Value of a Coin?
This one is simple. It is rising demand. Demand and supply is the thing that determines the value of anything that can get traded on an open market. That includes cryptos. Unlike fiat currencies which peg relative value to another currency, coins derive their value exclusively from demand and scarcity. It gets set by their investors, not a central entity.
That said, the news cycle and different events can substantially affect the value of a coin. For example, if the Ethereum blockchain encounters a security scandal or begins to attain a bad reputation for whatever reason. That can cause a domino effect that can make its price plummet. Bitcoin is so powerful that a decline in its price can lead to a fall in the value of other coins because overall demand goes down out of fear that the market is narrowing.
How Does Rollbit Trading Work?
If you grasp all the things explained above, then Rollbit trading should be easy to master. All you have to do is choose a coin that you would like to begin trading. You can do so via a drop-down option at the top of the page. As mentioned, currently, Rollbit online casino only allows Bitcoin and Etehreum trading. These are by far the two most established coins on the planet. Thus, it is no wonder that this crypto gambling site chose them for its trading option. Hopefully, they’ll expand this offer soon.
Once you select your crypto, you can pick your bet amount, payout multiplier, and wager if the price will go up or down. The multiplier maximizes your bet, but the higher it is, the more risk you incur. You can cash out at any time, and you can set such an action to happen automatically. So, you can instantly retrieve your funds when the value of the coin your bet on reaches a distinct price or when you profit/lose a specific amount. You can take profit or close your position at a set number.
If you keep your bet open for more than eight hours, you may get an hourly funding payment. However, that depends on the conditions of the market. If the market is bullish, this rate is positive, as long traders pay short ones. The rate is negative when the market is bearish, and then the short traders pay long ones. A bull market is on the rise, while a bearish one is receding.
Rollbit provides a return-on-investment calculator, and the site lets you track price movement. Sadly, the latter function only allows you to see the price movements over 24 hours. You can find charts for extended periods off-platform, so that is not a big deal. Though, it would have been nice to have that function here. What is cool is that the trading interface has an option that lets you download price charts for your chosen coin.
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