Rollbit is primarily an online crypto casino founded in February 2020. In May 2021, they added a cryptocurrency trading feature on their platform that allows people to bet on the price of cryptocurrency. Currently, betting is available only on BTC and ETH, with Rollbit promising to add more crypto assets to the list.
To bet on cryptocurrency prices, users must register on the Rollbit platform, fund their wallet with a deposit, and get started. The subsequent steps are placing and closing the bet.
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Placing A Bet
The trading takes place with the help of a bot that works per your guidelines. You can bet on whether the price will go up or down. Once you have decided on the coin and the up or down price movement to bet on, you can place your wager. At this stage, you can set stop loss or take profit limits. It allows you to cash out at a predetermined profit or stop your bet once a loss threshold set by you is attained.
You can also choose a payout multiplier, which will increase your profit but can also make the losses larger. Rollbit allows you to select the payout multiplier from x1 to x1000. Once you have decided and communicated everything to the Rollbit trading platform, click Place Bet. You can set a timeframe for the bot to execute your trade. It can be anything from a second to an hour or more. All the details of your bet will show under Active Bets.
Closing A Bet
To close the trade, you should click on the Cash Out button. A notification will appear on the screen telling you the profit or loss your trade has made. Your bets will be visible to others under the Public Bets tab. However, you can hide your username by activating a private profile via the profile page.
How to Make the Most of Your Trade?
Here are a few things you can do to maximize your gains from crypto trading at Rollbit:
● Stay Informed: The first step to start crypto trading is to get informed about the market. Stay updated about the latest companies entering the market, how they function, their records, etc. Also, learn about how cryptocurrencies work.
● Have a Clear Plan: If you don’t map out a clear plan for yourself, you may give in to your temptations and emotions. Sticking to a plan helps avoid impulse decision-making, which can lead to huge losses.
● Use Payout Multiplier Smartly: The payout multiplier is a great tool to maximize your profits on Rollbit. You can choose the payout anywhere between x1 to x1000. However, remember that bigger payout multiples may also come with greater risks for potential losses.
● Use Stop-Limit Orders: Rollbit offers the option to set a limit on your orders. It means after a specific price limit, your assets will sell automatically. It can help reduce the risk of enormous losses.
● Risk Management: Analyze trading patterns and diversify your portfolio accordingly. Study technical analysis charts to get detailed insights into the market. Always consider your trading amount before investing. Avoid making decisions in haste and learn to hold for the long term.
Conclusion
Rollbit crypto casino offers an exciting opportunity to trade cryptocurrency online. You can begin with a few easy steps and stand a chance to win up to 1000 times the money you place in the wager. Stay updated, plan effectively, and make informed decisions to minimize losses. Remember that luck also plays a role in online trading, so always prepare for the worst-case scenario.
