Greeting to all our readers! Welcome to our new article. In Wincatchers we work hard to bring you the best reliable detailed information about betting and gaming, so we expect you to enjoy our website.
In this opportunity, we bring an article about Ethereum. We are not going to give a whole explanation of this cryptocurrency as a software platform, but we would like to refer to the use of this element, the ether, in online casinos. Continue reading this article to know more about this really interesting topic.
What is Ethereum?
According to Investopedia, Ethereum is an open-source, blockchain-based, decentralized software platform used for its own cryptocurrency, ether. This means that, in matters of things related to our major topic, the “ether” as one of the most popular cryptocurrency that can be used in some online casinos and bookmakers.
How can you use ethers at the online casino and sport betting?
As in the case of any payment method, the use of ether for deposits and withdrawals in a casino is as comfortable as used debit or credit cards. So, if you have ethers, you can make use of them with no major problems.
Ones you have signed-up for an online casino where ethers are accepted, you should go to the deposit section and choose Ethereum as your favorite payment option.
Then, you have to indicate the amount of ethers you want to transfer from your Ethereum wallet to your casino account. Be sure that everything is correct and submit your payment. Ones the transfer is finished, you can see it reflected in your Ethereum account.
For withdrawals, the situation is not more difficult than for deposits, so you can remain calm. If you have won playing on the casino, you can collect your winnings going to the payment section and selecting Ethereum as your payment option. Next, choose the right amount you wish to withdraw and then submit.
Pro and Cons
Before entering into the Ethereum world, it is convenient for you to bear in mind some advantages and disadvantages related to the use of this virtual currency to make transaction on online casinos. Let’s consider some some advantages and disadvantages regarding the use of ethers:
Unlike some other payment methods, Ethereum allows you to make yous transaction anonimously, so you cannot be tracked and traced.
Gambling platforms test thoroughly a new payment method before it is accepted, so only those able to use for making deposits and withdrawals proving they are safe can be part of the payment section. To matters of safety, all the transactions you make via Ethereum needs to verified by you. Safety first!
All the transactions via Ethereum are made very fast.
- Difficulty to Attain
Even though the increasing popularity, for new users getting ethers seems to be difficult to obtain. For old users it is not a problem as they are usually familiar with the system.
Ethereum was launched in 2015, however, its popularity has not called the gambling platforms attention fast. As a consequence of that, many online casinos have not included this cryptocurrency so far.
- Difference in use with Bitcoin
The popular cryptocurrency Bitcoin is more user-friendly, so many players choose this other possibility.
Etherium at Online Casinos
Even though Ethereum is becoming more and more popular, the gambling platforms are not adopting this cryptocurrency as a method of payment as fast as it, perhaps, should be.
However, in our opinion, it is just a matter of time to find more and more players with Etherium virtual wallets to be ready to gamble. The reason for this is the quality and safety in the use of this virtual service.
All in all, Ethereum can be a serious competitor for Bitcoin. Only the future can tell us. We hoped you liked this article with the explanation of some features of Ethereum.