Why Crypto Gaming is Taking Fantasy Finance by Storm

Why Crypto Gaming is Taking Fantasy Finance by Storm
Dec 14, 2021 1
Why Crypto Gaming is Taking Fantasy Finance by Storm

Trading crypto can be a great way to profit in the short term. With just a few smart moves, it’s possible to earn significant returns in a matter of days - or even hours. However, the barrier to entry for crypto trading can be quite high; there’s just so much to keep track of. That’s where fantasy trading contests come into play.

Fantasy trading contests have become a massive phenomenon in the last few years. Offering a safe and exciting way to learn all about crypto trading with minimal risk and a shot at real profits. With multiple types of contests, there really is something for everyone. So, if you’ve ever wanted to get some skin in the crypto game, fantasy finance is the best place to start.

The Basics of Fantasy Trading

Any sports fan should be familiar with fantasy contests. Instead of picking individual athletes to form a virtual team, users of apps like StockBattle or WealthBase can select multiple cryptocurrencies to place into their virtual portfolio.

Once the contest starts, users can track the performance of their virtual portfolio in real-time using actual NASDAQ data. At the end of the contest, the user whose virtual portfolio has seen the highest percentage of growth wins. It’s really just that simple.

Why Are Fantasy Crypto Contests Suddenly So Popular?

Crypto trading has fans across many continents, but why does it attract so many users? The best way to understand is to try a fantasy competition. But before you start your first contest, here are several major reasons why users love these tournaments:

  • Fast and fun: With a low barrier to entry and a high skill ceiling, anyone can jump into a fantasy trading contest and start playing regardless of their skill level.
  • A wide selection of games: With over 20,000 unique matches every day, apps like StockBattle let users pick whichever type of contest is best for them.
  • Start with no up-front investment: It can take a lot of money to get started with trading crypto on the open market. Fantasy finance, on the other hand, lets users get started for free by playing Freerolls and begin earning right away.
  • Earn some extra income: Fantasy trading contests pay out real cash rewards to every winner. A skilled user can easily earn a nice bit of extra income just by playing.

What Kinds of Fantasy Contests are Available?

There are several different fantasy finance platforms available, each offering unique contest types. For example, StockBattle pits users against each other in fierce, 15-minute, head-to-head battles where the winner takes all. Each match guarantees one winner and one loser, so there’s always a real chance for a skilled user to come out ahead.

Other fantasy trading platforms, such as Investr, let users compete in ranked ladder matches to climb within tiers over the course of a season and pay out large prizes to the overall winners.

The type of contest that is right for you will depend on your needs. If you want to earn some extra income more regularly and see instant results, the 15-minute head-to-head battles are certainly a better choice.

How Do I Get Started With Fantasy Finance?

Once you’ve picked a platform, the best thing to do is get started on a Freeroll. Freerolls are free-to-enter contests that payout real money to the winners. These function identically to paid fantasy crypto contests and allow newer users to get accustomed to the way the platform works and develop their own strategies for winning.

Once you’ve set up an account, you just need to find the most appealing fantasy contest and start playing. Simply tap on the match-up and you’ll be taken to the crypto selection screen. Here, users can pick up to five different cryptocurrencies to add to their virtual portfolio that they will use during the contest. When picking your crypto, it’s important to take a look at its recent performance. Most fantasy trading platforms will show you the coin’s price over the last minute, hour, day, or week. This lets you make the most informed decision about what you want to put your money on.

How Can I Win at Fantasy Crypto Trading?

The strategies that make for successful fantasy finance are no different than those used in the real world. Here are a few quick tips to keep in mind when you’re getting started on fantasy finance.

Read the News

It seems so obvious, but so many people don’t bother to do their homework before picking any coins. See what’s happening in the world of crypto before picking a game and adjust your strategy accordingly. The user with the most current knowledge will have a serious edge over their competition.

Set a Goal

Knowing when to sell is even more important than knowing when to buy. Don’t just hold onto something if it’s not doing well. Since fantasy trading contests are so short, it’s usually best to sell a coin as soon as it starts to dip in order to cut your losses. Likewise, once your picks have gone up to a pre-determined point, sell them for a quick gain.

Hedge Your Bets

While it might seem counter-intuitive, betting against yourself can be one of the safest strategies in fantasy finance. The basic idea should be familiar to anyone who has ever bet on sports. You just need to pick the match that’s most interesting to you and place a large wager on the coins you find most appealing.

Next, you find a much smaller contest and pick the coins that you found less interesting. In the worst-case scenario, you will be able to recover a significant portion of your losses from winning the smaller contest.

Track Your Progress

While winning and losing are what people will ultimately remember, it’s equally important to evaluate exactly what happened that caused that outcome. No matter how well you did, there’s always room for improvement. Fantasy trading platforms let users easily keep track of their matches and evaluate what happened and why.

Get Started Today for Free

Fantasy finance can be a great way to learn some new skills and earn some extra income. With a wide variety of options, users can pick and choose what best suits them. With free-to-enter contests that pay out real money, there’s nothing to lose by trying your hand at fantasy crypto trading. Check out a few apps and get started today; you just might find that you’re a natural.

The opinions and assessments expressed in the text are the views of the author of the article and may not represent the position of Cryptogeek. Do not forget that investing in cryptocurrencies and trading on the exchange is associated with risk. Before making decisions, be sure to do your own research on the market and the products you are interested in.

Divina Paa
16 December 2021
Nice ,good.