Many XRP investors have recently turned to margin trading. Understandably, people want the additional thrill while the market is stagnated. Perhaps, you have already experienced XRP futures with some unsuccessful deals.
Indeed, margin trading requires a lot of preparation and a deep understanding of the market. Sadly, many investors gamble away their precious holdings at futures. Even so, they ignore actual gambling, although they could be better off with it.
XRP Margin Trading — Dangerous Kind of Gambling
Let’s say you long XRP at $1 with 10x leverage. If you want to quadruple your assets, you will have to wait for XRP to rise to $1.3. In this situation, the liquidation price for your position will be around $0.9. Arguably, in the current market conditions, your position may sooner reach the liquidation price than the target price.
Alternatively, you may bet twice on even odds and get the same amount, provided you are lucky enough. In this case, the probability of winning will be at 25%. Of course, this is also not much, but it is better than getting burned out by bad decisions. The experience of thousands of broke traders doesn’t lie.
Here are the tips to help you maximize your chances of success.
The most important principle for successful traders and players alike is bankroll management. If your balance is 1,000 XRP, don’t wager all in one go. The risk of losing everything is high as nasty streaks happen every so often.
It would be much wiser to take just a tiny part of your gambling balance to bet at a time. Thus, you can enjoy the game longer and, possibly, get to a good winning streak. In any case, do not put in the game more than you are ready to lose.
Choosing the Right Game
Not all games are equal in odds. You are almost guaranteed to quickly lose your money in some games, as with the above mentioned margin position.
In other games, the odds are roughly 50:50. They provide a decent opportunity to increase your holdings without a lot of preparation needed.
The games with the highest chances of winning include:
- XRP Blackjack
- XRP Baccarat
- XRP Casino Holdem
- XRP Craps
- XRP Roulette
For these games, the house edge can be as low as 0.5%! Thus, you play with approximately equal odds and a good chance to increase your balance.
Choosing the Right Place to Play
As with crypto exchanges, not all casinos are equally honest with their players. Some of them may delay payments or deliberately lower returns.
To choose a reliable casino, check the reviews online. Players rarely tell if everything goes well. However, rest assured they will leave a ton of furious comments if something goes wrong.
One of the best places to play for XRP is LTC Casino. The casino is geared towards cryptocurrency holders and also accepts Bitcoin, Ethereum, Litecoin, and Dogecoin.
The main advantages of LTC Casino include:
- Instant payouts
- No verification
- Maximum possible return to player (RTP) in all games
By and large, these are the main factors that you should pay attention to when picking a casino.
Choosing the Right Strategy
It is also important to understand a particular game and follow a strategy to maximize your chances. For example, in Blackjack you need to know when to stand and when to hit.
Fortunately, LTC Casino has a dedicated WIKI section where they post the best time-tested strategies, so you can always make mathematically correct decisions.
How to Deposit XRP into LTC Casino?
Making an XRP deposit into LTC Casino couldn’t be easier:
- Register a new account at LTC Casino
- Go to the “My Wallet” tab
- Choose XRP as your deposit method
- Submit the transaction using the provided address and MEMO
That’s it! As XRP provides ultra-fast transactions, you should see the money on your casino balance in a few seconds.
How to Withdraw XRP from LTC Casino?
XRP withdrawals are carried out in the same way — instantly, without fees and verification!
- Go back to the “My Wallet” tab;
- Pick XRP as the withdrawal method;
- Enter your address and MEMO if required.
Check your wallet in a few seconds, as the money should already be there waiting for you.
Can Betting Tips Help You Win?
It is undeniable that gambling is a risky undertaking, and the house always wins in the long run. However, the experience of thousands of XRP holders suggests that playing wisely could bring them much better results than incompetent margin trading.
Tips and strategies do not ultimately help break the odds in your favor, but this is the only way you can minimize the house edge and make exceptionally mathematically correct decisions.