Best Ethereum Casinos
Ethereum has followed the footsteps of Bitcoin, not just as an investment option but also as a cryptocurrency that is used for gambling in online casinos.
The cryptocurrency just like others can be used for making online payments. It follows a peer-to-peer format. You can use it to deposit funds in an online casino to play online games. The casinos that accept Ethereum payments are called Ethereum gambling sites.
Ethereum gambling sites are just like an average online casino. However, the primary reason they stand out from average ones is that they accept Ethereum as a banking method. They offer exceptionally fast banking. Also, the transactions you make through Ethereum are highly secure.
You will also find a true Ethereum casino. These don’t just accept Ethereum as a payment method but build their gambling experience around the Ethereum Blockchain. With the Ethereum Blockchain, you can enjoy complete anonymity and financial security. Every program running on Ethereum is decentralized. So, there is no central authority controlling software built on it. So, even the casino cannot influence the game’s outcome.
Best Ethereum Casino
Here are the top online Ethereum casinos for 2021:
- 7 Bit Casino
- Casino Friday
- Fortune Jack
What is Ethereum?
Ethereum is the type of decentralized, Blockchain-based computing platform. It is a platform supported by several machines that are used for creating a Blockchain of transactions.
Ethereum had been launched through crowd sale in 2014 by Vitalik Buterin. He developed the Blockchain for deploying smart contracts providing more utility to the cryptocurrency such as Bitcoin. What makes it different from the other is that it has a smart contracts facility. It makes the transaction transparent. This is the primary selling point for Ethereum and also the main reason it is used as a payment method in several gambling sites.
How to Get Started with Ethereum Gambling?
Ethereum is a currency that is only offered on Ethereum platforms. It is bought and sold as a commodity and also as a currency.
In case you want to know how to get started with Ethereum gambling, here’s the step-by-step guide.
- Open a Cryptocurrency Wallet
The first step you need to take is to open a wallet that holds all types of cryptocurrencies. You will find different types of wallets in the market. Make sure that you choose a trusted one.
After choosing the site you prefer, you have to enter the personal details to open an account. You will have to go through a verification process. So, be ready to verify the details you have provided.
- Enter the Financial Details
You have to fund the wallet with regular currency from the credit card or bank account. The funding option you are choosing might come with a limit. For instance, you aren’t allowed to buy tons of ETH when you are using your credit card.
After creating an account, you have to enter the FIAT banking information. With this, you can move your cryptocurrency to and fro to your conventional bank account.
- Buy Ethereum
The wallet you choose is going to give you several options for the cryptocurrencies you can buy. So, all you need to do is look for Ether. As soon as you find it, choose the amount you would like to buy and complete the transaction. When you are done, the balance gets deposited in your wallet. Now, you have successfully bought cryptocurrency.
- Look for an Ethereum Casino
A few casinos have been listed above. You can choose one of them. When it comes to a casino accepting Ethereum, you will get plenty of options. So, choose one and continue with the process.
- Connect the Cryptocurrency Wallet to the Gambling Account
Once you find the online casino of your site, go over to the banking section. In this section, you will find the different payment options including Ether. After choosing the method, you will be directed to a site that is going to connect you to an online casino through the Blockchain of Ethereum. Now, you can choose the amount you want to deposit with the site. With just a few clicks, you will find your casino account funded.
Pros and Cons of Using Ethereum in Online Casinos
Ethereum comes with its own pros and cons. Check them out below.
Anything that you are doing on the Ethereum Blockchain including making payment in an online casino is fully encrypted. So, your information isn’t compromised.
The transaction time for the Ethereum platform is much lesser in comparison to the other transaction methods. So, when you place a withdrawal request, you are going to get your money faster.
Several sites are encouraging players to use this as a payment method by providing larger deposit bonuses to the punters choosing to use Ethereum.
The secure nature of Ethereum lowers the chances of fraud. So, the punters who are using the currency are more likely to enjoy higher betting limits and also higher deposit or withdrawal limits.
Since the transaction is digital, the payments cost much less. So, you can keep more of your wins.
The cryptocurrencies come with real-world value and they are traded as conventional stock. So, the prices keep the change. So, apart from gambling at the poker table, you are also going to gamble the currency value you buy and sell in the open market.
Even though it is one of the few industries accepting cryptocurrency, there are many sites that do not yet accept it as a payment option. Sure, the number of sites accepting it keeps growing but you have to do some research to choose the site where you can gamble with Ethereum.
Not every site offering Ether as the payment option will have a gambling license. This might lead to problems with security as a whole. The cryptocurrency transaction might be secure but the site still needs to approve the payment and the scam sites are more likely to cause problems with their gamblers.
Cryptocurrencies are different to wrap your head around. So, the best way to learn about Ethereum casino and cryptocurrencies is to just get out there and try it out for yourself. However, make sure that you start small. As you get comfortable with the concept and the process, it is going to become easier.
One of the primary reasons to use Ethereum gambling sites is the additional security you get to enjoy. Irrespective of being active for only a few years, Ethereum has risen in credibility and value. In fact, it has managed to challenge Bitcoin, the leaders in the field of cryptocurrency. So, it can be expected, in time to come, you will see a rise in gambling sites accepting Ethereum. These casinos give you many advantages that others don’t.