Bitcoin's rise means good things for Mega Moolah players
Anyone who has money in Bitcoin must be thrilled about its most recent price run. Bitcoin has more than doubled since the start of 2019. At the time this post was written, Bitcoin was trading at just about €10,000. At the same time on January 1, the price was hovering around €3,800.
If you hold Bitcoin and are a fan of the Mega Moolah slot game, Bitcoin's recent rise means good things for you. There are some great reasons to perhaps use some of your coins to play your favorite video slot. Playing with crypto certainly has its advantages over playing with fiat.
Now would be a great time to note that there are numerous ways to turn your bitcoins into gambling site credits. We will get to that in a bit. First though, let us talk about the advantages of spending some of your coins now while the price is on the upswing.
Bitcoin prices change
As an experienced Bitcoin user, you know that prices are subject to change. In fact, they are subject to change very quickly. Bitcoin could be worth €10,000 right now only to shoot up to €10,500 by the time you go to bed. The point of bringing this to your attention is to remind you of the principle of taking advantage of price growth before it's gone.
Just like Bitcoin could increase €1000 before the end of the day, it could also drop by the same amount. The tricky part for coin owners is to figure out when to extract some of the value from their holdings before it is lost. Using a portion of your coins to play Mega Moolah, when you would have otherwise used fiat, is one way to extract value.
For purposes of illustration, let us just use our two random price points of €10,000 and €10,500. That kind of price swing would equate to a 1.05% increase for you. That means every euro you own in BTC would be worth €1.015 at the end of the trading day. It's not much, but it is more.
Converting €100 worth of BTC into the EUR equivalent of online gambling credits would give you €101.50. Again it's not much, but it is more. Converting some of your coins to gambling credits now ends up giving you more for your money. And if you've held Bitcoin long enough to see your holdings double, you now get two times as much by converting some of your coins.
More chances to play
If the previous explanation doesn't do it for you, there's another way to look at it. Let's say you bet €1 on every Mega Moolah play. Based on the price of Bitcoin on January 1, a single coin would give you 3,800 plays. That same coin would give you more than 10,000 plays today if you converted it to online casino credits.
By spending some of your BTC holdings now, you get more chances to play than you would have spending the same amount of coin back in January. And as you probably already know, more plays give you more chances to win Mega Moolah's coveted Mega Jackpot.
Remember that Mega Moolah jackpots are awarded randomly throughout play. You do not have to land specific symbols or work your way through progressive levels of bonus games to get a shot at one of jackpots. Because of the way the jackpots are set up, the only way to increase your chances of winning is to increase your frequency of play. The more plays, the greater your chances.
Bitcoin's most recent price surge gives you more of those plays without requiring additional funds from you. By virtue of the fact that your coins are now worth more, you get more plays with each coin you convert to credits.
Two ways to play with Bitcoin
All of this talk of converting bitcoins into online gambling credits brings us to the question of how it is actually done. Experienced Bitcoin gamblers know there are two main ways to use their coins to fund their Mega Moolah exploits.
1. Deposit coins directly
The first method is head on over to the Bitcoin casino that offers Mega Moolah. What is a Bitcoin casino? In our industry, it is simply a casino that accepts cryptocurrency deposits. A Bitcoin casino is not necessarily limited to BTC either. They may also accept Bitcoin Cash, Litecoin, Ethereum and other cryptocurrencies.
This method is the quickest and the easiest way to go. Note that when transferring bitcoins to the casino you will be charged a small fee. Your transaction processed by a Bitcoin Minerr and confirmed by the Bitcoin network. The fee is usually just a couple of euros. In addition, the amount of BTC you can deposit and withdraw and claim in bonuses far exceeds any euro amounts.
2. Convert coins to fiat
The second method is to convert your coins to fiat first, then deposit that fiat. Skrill and Neteller are examples of two services that make doing so absolutely painless. They are a better choice than regular Bitcoin Exchanges.
If you were to use a Bitcoin Exchange, you would have to sell some of your BTC holdings and then withdraw the cash. You will pay a fee for the sale. Then you might also pay a fee to withdraw, depending on where you live and how you choose to make your withdrawal. If the total of your fees is high enough, you might just as well directly deposit your coins directly.
Services like Skrill and Neteller eliminate the extra step of having to withdraw. If you can find a casino that accepts Skrill or Neteller - and all Mega Moolah casinos do, by the way - you can convert your crypto holdings into fiat before making a traditional deposit through your chosen service.
Going this method tends to be cheaper in that fees are relatively low. It is also more convenient because you have eliminated that extra step. You go directly from BTC conversion to making your deposit with either Skrill or Neteller. Note that you of course need a verified Skrill or Neteller account first.
Release the value of your BTC
As we have to wrap up this post, we want to ask the question: do you consider yourself a gambler? You most certainly are if you play Mega Moolah. But you are also a gambler if you trade in cryptocurrencies. Though you might be hard-pressed to get industry experts and analysts to admit it, every kind of investment is a gamble.
When you buy stocks, you are betting that the price of those stocks will go up. The same is true for investing in commodities, government securities, and even cryptocurrency. And like playing slot machines, there is no guarantee that you will win the bet. Prices can fall as easily as they rise.
Why bring this up? To encourage you to release some of the value of your BTC while you have it. Investing in cryptocurrency is a terrific way to grow your money. There is no denying that. But if you never release the value you gain from that growth, what good are your coin holdings?
Value and utility
The real value of cryptocurrency is found in its utility. In other words, Bitcoin is valuable when you can use it to actually buy things. The recent surge in Bitcoin's price represents tremendous value for you - but only if you spend some of your coins. That is the whole point here.
If you are like most Mega Moolah players, you set aside a certain amount of fiat to pay for your online gambling hobby. You do not ever exceed that amount. That's good. Converting some of your BTC holdings into online gambling credits essentially gives you more to work with at no risk to your fiat.
You will not be taking any more cash out of your bank account to play. You will not be risking your monthly budget in order to get more shots at the Mega Moolah jackpot. And yet, by using some of the increased value of your BTC, you have more opportunities to play.
Keep your eye on prices
Please do not misconstrue this post as a license to be irresponsible. Recklessness is not what we are advocating here. Rather, we are simply encouraging you to release some of the value of your BTC by using it to play Mega Moolah instead of relying on that fiat you otherwise would have spent.
In the meantime, keep your eye on cryptocurrency prices. As high as Bitcoin has gone in recent months, it could turn downward again at any moment. You want to be ready in case you decide you need to sell in order to protect some of that value you have built up. A good website to keep an eye on Bitcoin (and other crypto) price action is Coinmarketcap.com.
Bitcoin has more than doubled in price since the start of the year. If you've owned some Bitcoin for that long, you have undoubtedly made some money. Why not use some of that money to play your favorite video slot?
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.