Ethereum Online Casinos

ethereum_ (1) If you know anything about cryptocurrencies, you know that Bitcoin is the first-ever invented one, and Ethereum is today the second-best and most popular cryptocurrency available out there, especially popular across online casinos. It runs on the underlying blockchain technology, but providers much-improved processing times, as it is more scalable, and much safer transactions, due to the use of its smart contracts. Its native token is the Ether, but on its blockchain, you can also use non-fungible tokens (NFTs) and not only digital money. What is Ethereum really and why use it across online casinos?

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Ethereum FAQs

What is Ethereum?

Ethereum is open-source, decentralized blockchain technology, offering the native token Ether but also giving users the chance to use non-fungible tokens (NFTs). It was designed with the goal to further improve cryptocurrencies, and make crypto transactions faster, improved and safer.

How faster is it than Bitcoin?

While Bitcoin, being the first crypto ever invented, used to provide the fastest processing times, due to the transaction overload on its chain, it started processing transactions in about 10 minutes on average. With Ethereum, transactions are processed within seconds.

Who can get a hold of some Ethers?

Everyone who’s interested in obtaining Ethers can do so, regardless of their country of residence. Obtaining the token can be achieved in several ways, to be explained below.

Are there any transaction limits I should be aware of?

There are no limits as to how much you can transfer on the blockchain, however, you may find that online casinos you’re frequenting impose both deposit and withdrawal limits when transacting with the crypto. Therefore, for more information on limits, make sure you get in touch with your chosen casino’s Customer Support service.

Do many global online casinos accept it?

Yes, indeed. As introduced, it is today the second most popular crypto after Bitcoin, therefore, it is offered across most, if not all, online casinos that process cryptocurrency transactions. You can rest assured that the best crypto sites will offer it, so your options would be huge.

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About Ethereum

about_ethereum (1) Ever since the launch of Bitcoin, we’ve been seeing new cryptocurrencies being invented left and right, always trying to surpass what the first-ever crypto had to offer. One crypto that managed to do that faster than others was Ethereum. This is today, the second-best cryptocurrency offered across the internet, right after Bitcoin.

It was designed around 2013, by a previous Bitcoin supporter, who wanted to improve the original crypto, make it better, smoother, safer and above all, faster. We’re talking about Vitalik Buterin, the person behind the new crypto, who created this new network with more diverse operations, purposes and transactions than the original Bitcoin. The official launch of the blockchain, created based on the underlying blockchain technology, went for sale in 2014.

So, what is Ethereum really?

Well, it is a community-run technology, powering its native token Ether (ETH), as well as thousands of decentralized apps and non-fungible tokens (NFTs). It is ever-evolving, but it can be considered as home to global payments, applications and, of course, digital money and assets, which is open to anyone, regardless of where they are located in the world. As long as you have access to the internet, you are welcome to use it. Just like other cryptocurrencies, it is of decentralized nature and its decentralized finance (DeFi) system is open for anyone, not discriminating against those that cannot open bank accounts. It works on a system that runs and executes smart contracts, which makes it safer and faster than the original.

As mentioned, it even allows you to use non-fungible tokens, which have appeared a few years back. These are assets that can be anything. For instance, you are an artist and you’d like to get paid for re-selling your art. Just tokenize it and through its network, you could get royalties automatically each time the non-fungible token is re-sold. Basically, thanks to the network, anything you own can be represented, tokenized really, put to use and traded as an NFT.

Offering all these opportunities to people…

…its community grew fast and strong. People of all kinds of different interests and backgrounds are part of the Ethereum community, eager to contribute to it and make it even stronger. Naturally, many of the members of the community, other than being crypto enthusiasts, are also online gambling fans. So, you should not be shocked to learn that as soon as it became a hit, it instantly started being offered across online casinos. Hundreds of casino sites are offering it as a deposit method, so you won’t waste more than a few minutes to find a fine site for you to join which accepts it. If you want to know how to get started with it and use it for safe and instant deposits and withdrawals, we’ll guide you through the process.

Types of Services Offered

types_of_services_offered (2) Basically, the types of services Ethereum offers were explained just now. It is not a system for digital money only, but you can create all kinds of apps on its blockchain, you can start coding with it, use decentralized apps and even create NFTs to get paid for the things you own and you’ve tokenized.

A small team of dedicated members, funded by the Ethereum Foundation, maintains and updates the site ethereum.org, which is there for anyone who wants to learn more about the foundation it and get started with it. If you’re interested in discovering its full potential, feel free to explore it. Our aim here is to discover how to use the crypto across online casinos.

We mentioned briefly that it works on smart contracts

These are specific operations that two parties can perform as long as they meet the pre-conditions involved in the contract. For instance, you want to pay someone to do paint a picture for you. The pre-conditions here are you will be compensating the other party for the picture in Ether, and the other party will give the picture to you, once finished. Well, the actual transaction will be completed and executed immediately only if both you and the other party have done your share of the deal. The Ether, of course, fuels the actual smart contract operation.

Now, you have four different ways to explore to obtain some Ethers. Of course, you can do it the traditional way, by mining, but you know that this is time-consuming and costly, so let’s look at simpler ways. You can get someone to send you some Ethers, but that, of course, would not be for free, and you’d need to perform some kind of service or give that someone a product in exchange for the tokens, like the picture we mentioned in the previous example.

But, the simplest way to obtain tokens is to either go to a BTC-ETH or a fiat currency exchange platform. That way, if you already have some BTCs, you could exchange them for ETHs equivalents, or if you wish to, you can use your own country’s currency, say, the US dollar or the euro, and buy yourself as many ETHs as you want. As simple as that.

From there, you’d need to create a crypto wallet, naturally, to store your coins, just like the case with any other cryptocurrency is. After your wallet and address is ready and your Ethers are on it, you can start using it across online casinos.

How to Deposit with Ethereum at an Online Casino?

how_to_deposit_with_ethereum_at_an_online_casino (1) If you’ve ever used Bitcoin or any other cryptocurrency for that matter, you’ll know what to do with Ethereum in terms of depositing and withdrawing across online casinos. You know that these two processes are extremely easy with cryptocurrencies. We mentioned that the crypto is quite popular, second-best following Bitcoin, and we mentioned that there are hundreds of casino sites that offer it as a payment method. You can rest assured that any premier crypto site accepts it, so you’ll have no difficulty finding one that you’d be able to join. So, the first step you’d need to make is to find a casino you’d like to join and register an account with it.

When your casino account is ready, to make a deposit with Ethereum, do the following:

Locate the casino’s Banking/Deposits/Cashier page.
Look for Ethereum’s logo and click or tap on it, and you’ll be provided with the casino’s wallet address.
You’ll be redirected to a page where you’d need to log into your crypto wallet.
Copy the casino’s wallet address and specify how much you’d like to deposit.
Press ‘Send’ and in a matter of seconds, the Ethers will arrive on your online casino account.

How to Make a Withdrawal

The withdrawal will be done pretty much the same way, with both your and the casino’s wallets involved in the transaction. This time, however, when the pop-up window appears, you would need to specify how much you’d like to withdraw, and in the designated field, paste your wallet address.

The casino will review your request, make sure that you don’t have any wagering requirements unmet, and as soon as it confirms it, the Ethers you requested will arrive on your crypto wallet.

Country Restrictions and Limitations

using_ethereum_across_online_casinos (1) There are no country restrictions, as mentioned, as anyone, from anywhere across the world, can use Ethereum, regardless of their country of residence, as long as they have access to the internet.

Basically, there are no obstacles for you to start using it. But there are some risk factors involved, as with any other cryptocurrency. Sure, the value of the ETH has stabilized in recent years, but as you know, all cryptocurrencies are prone to constant fluctuations. Therefore, you’ll never know how much you have; at one point you may have $31,000 worth of Ethers, at another point $30,000, for instance.

And, if you’re into crypto, you have probably already suspected this, but yes, transactions with it are irreversible. You need to treat them with great attention, double and even triple-check wallet addresses before you confirm your requests if you don’t want your funds to be lost forever.

Advantages and Disadvantages

With this crypto, you’re getting all the benefits you would with any other cryptocurrency, like decentralized and fast transactions, anonymity, security and the possibility to transact online even if you don’t have a bank account. But with Ethereum, you’re getting so much more.

As an improved crypto, it allows you to transact online faster than with Bitcoin, as transactions with it are processed within seconds. Plus, thanks to the smart contract technology, you’ll always know that the transaction won’t be processed unless all pre-conditions are met, hence, you get enhanced security. And then, we cannot forget the fact that with it, you can perform many other operations, not only the transfer of digital money but also the use of dApps and NFTs.

Naturally, like with any other crypto, there will also be risks involved, such as the irreversible transactions and the possible fluctuations. These two are actually the only downsides of this crypto, which are expected, considering this is still a risky asset.

Final Analysis

There’s no point denying the fact that Ethereum is currently one of the best, most powerful, full of potential cryptocurrencies out there. If you’re following the developments in the crypto world, you know that its value has been stabilized and that it is the second-best listed on the market. There are so many Ethers in circulation, so many people are using it for their daily transactions, so if you choose to use it as your online casino payment method, you won’t make a mistake.

As a casino player, you’ll get so many perks for using it

You’ll be able to choose from hundreds of sites that accept it and join the one that suits you most. Deposits and withdrawals with it would be processed within seconds, and you can use it regardless of your country of residence.

Of course, you must always keep in mind that this is still a risky asset, whose value can rocket or plummet at any point, and you must remember that transactions with it are irreversible. But if you’re cool with taking these risks, then make sure you obtain your Ethers today and start using them across online casinos.