Stop Using the Multiplier: Don't Gamble!

By jedryccc | OMG - Online Money Guide | 22 Jun 2020

The Multiplier

In many faucets or PTC's you can find a multiplier which you can bet your hard earned crypto for a higher reward. There also sites merely dedicated for crypto gambling and I recommend you stay away from gambling in general. Usually, a multiplier involves rolling a number and if that number corresponds with the range you bet on, you get a reward. The smaller the range, the higher the reward. More risk, more reward, but at the same time more risk means more losses.

You'll lose your money

If you somehow won in the multiplier, then good for you! It's alright to bet maybe a few satoshis but don't get addicted. If you lose, you'll want to cover your losses and usually that doesn't end well if you keep losing. A chain of wrong moves will make you run out. Think about it, if you bet on something there is a chance to lose and most multipliers make you bet high or low, that's a mere 50% chance.

This is the same with binary trading.

Do you want to depend on a half chance?

Cryptocurrencies themselves are a high-risk investment with a volatile value. Do you want to have risk on risk? 50% is not great odds. You lose half the time, and if you want to win more, you go for lower odds, and that's bad.

Stop right now!

You don't have to cover your losses you might just keep losing more. Just simply stop and just try to control yourself. Remember that there is a chance to lose and you really do not want to lose.

If you're going to bet, bet on things that you can control or analyze, things like sports and racing. Things where there are odds you can study. Multipliers are a bad way to lose your money. Gambling is a bad way to lose your crypto.

Control is key to a better crypto lifestyle!

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