Is cryptocurrency essentially gambling ?

Joined
May 2021
From
samoa
Hi everyone ,
I wanted to have an open discussion on whether you think cryptocurrency is basically gambling as there is a risk just like any stocks or market that you put your money into.
We’ve heard over the past year especially that one should invest into crypto as it’s a way of helping your finances in the long run.
Please feel feee to share your opinion on this.
Thanks for your time.
 
Joined
Aug 2020
From
Hungary
I think speculating is a better term for what happens in high-risk markets. And what makes the difference between gambling and speculation is learning and planning.
If you have a good trading plan that you can stick to and do good risk management, it is possible to trade in a way that is consistently profitable (unlike gambling, where your chance of winning or losing is random and mostly outside of your control). At least this is what I think in the case of bigger, older coins.
However, small and "young" projects are a lot harder to speculate on because of the lack of historical data, and it is also harder, or sometimes impossible, to establish the value of a coin/token the way you do for stocks on the stock market. So I feel like investing in new projects is more like gambling.
 
Joined
Jun 2021
From
USA
If we go by the definition of gambling, then cryptocurrency fits the shoes since it requires taking chances with money or taking a risky decision with the hope of a positive result.
 
Joined
Aug 2021
From
Dhaka, Bangladesh
It is not gambling. Yes, crypto markets can be volatile, which may make you rich in a day. On the other hand, you may lose a lot of money as well. Thus, proper money management is needed.
 
Joined
Aug 2021
From
Ireland
Oh if your investment is longterm than no.
Also if your investing in solid established coins than no also .
Some treat it as gambling as pump and dump crypto fads
 
Joined
Aug 2020
From
Hungary
It is not gambling. Yes, crypto markets can be volatile, which may make you rich in a day. On the other hand, you may lose a lot of money as well. Thus, proper money management is needed.
I agree about the money management. That, and making a good trading plan, can help people find success in this market.
 
Joined
Sep 2021
From
Philippines
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Joined
Aug 2021
From
United States
I think that investment decisions are based more on factual evidence, even though the markets are highly volatile. It seems safer than gambling, although it’s still risky.
 
Joined
Aug 2020
From
Hungary
I think that investment decisions are based more on factual evidence, even though the markets are highly volatile. It seems safer than gambling, although it’s still risky.
Yes, I think so too, you have a lot more control over how much money you can gain and lose in trading than in gambling.
 

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