As I wrote a couple of days ago, I am building up a new Bitcoin bankroll. I'm buying $20 of BTC a day from my poker earnings, and looking for ways to make that money work for me once I have it.
Since the amount is small right now, I'm ok taking risks but I have a goal to have a decent level of diversification at the end of the experiment. I accept and acknowledge that there is inherent risk with BTC investments in general. I am not relying on this income to feed my family, but do want to be responsible with growing and maintaining it.
4 years ago when I was similarly experiment, I learned about investing in BTC casinos. The returns are great, but you have to accept that there is a moral hazard for the casino operators to eventually just run with the coins after some amount of time, when the temptation becomes too great.
Because of this, I wanted to pick a casino with booming business that is worth more in the long run than what they could run with right now. BitDice seems to have invested a great deal in its UI and the customer loyalty. (Here is my referral link if you want to check it out; they'll let you have 250 free satoshis to play with every 15 minutes: https://www.bitdice.me/?r=14579).
I finally reached the minimum investment of 0.1 BTC for BitDice this evening. I transferred it in and got started after one confirmation. I really like that BitDice lets you adjust the Kelly Level of your investment to leverage it. This means that you can have your coin count for up to 5x of the casino's bankroll, but also carry that extra risk. For now, I set it at the max 5x, which means that if the bankroll ever loses 20% of it's total, I will lose my whole investment. I don't plan to keep it at this level, but I think it's worth the experiment at first, with such a small amount.
If you want to see what the investing interface looks like, I'm attaching a screenshot below.
If you know of other avenues that I should explore in investing my BTC bankroll, please share!