Post
Topic
Board Gambling
Re: Investing in Casino tokens such as BFG, OWL or TFS
by
Hispo
on 12/09/2022, 04:45:44 UTC
-snip-

I feel like with this you're drifting away from the theme of this thread. It's about investing in casino tokens, not staking ETH.

Casino tokens are risky just like NFTs and new altcoins. They are as risky as buying Luna at the bottom, but you can always earn on this move like people who bought Luna made some money when it pumped a few days ago but it doesn't prove that Luna is a good token or that investing in casino tokens is a good idea. It's gambling.

Okey, I'll drop the Ether conversation.

As far as I am aware one of the only ways to actually stake in a relatively secure way is to do it with a very established coin, like Ether instead of tokens.

I can't call it secure way. Risk the same. You staking real crypto (eth) for some tokens, which if site/service disappear will cost zero.

This risk is involved in any cryptocurrency however some crypto is less risky compared to others that are riskier. However, when we talk about gambling casino tokens, it's easy to judge them as we know how much gambling casino is popular and what is their progress. Based on this we can increase or decrease our accumulation of gambling site tokens.
I think gambling sites tokens are worth investing.

Yes, they are worth investing as I said earlier, they can serve as a way to diversify one's portfolio.
It is matter of seeking trustworthy casinos or webpages and do the research.
For example if Stake minted their own token, I am pretty sure thousands of players would buy them very quickly due to their good reputation and history since they opened, but it is unlikely they do it, in my opinion. I was also analizing those yields casinos offer to their native tokens but they do not seem to be worthty as a reliable passive income source, at least not for people with little money to stake. Perhaps it would be better just to buy, hold and find a good chance to realize gains.