Introduction – Ethereum Gambling
Ethereum gambling is developing in leaps and bounds over the past few years and though depositing cryptocurrencies (be it Bitcoin or Ethereum) in any gambling site is a bit different as compared to depositing fiat currencies, if done correctly, crypto deposits can be done much faster than fiat currency deposits.
How Does Ethereum Gambling Work?
ETH gambling sites operate in the same way as any regular gambling site but the payments are accepted only in Ethereum tokens that can be either purchased from any ETH exchange or can be mined.
How to Start Gambling With Ethereum?
Some simple steps that players should follow to make Ethereum deposits easier and convenient are:
Open an Ethereum Wallet
The first step to getting into any Ethereum gambling site is to set up an Ethereum wallet where players can store their ETH tokens. A wallet is nothing but a digital version of a bank account but it can be used in more ways than a bank account. Cryptocurrency wallets not only let players store their crypto coins but also let them interact with their account, read their balances, send or receive transactions (buy or sell), connect to applications, view their transaction history, etc.
Provide Your Banking Information
After setting up a reliable crypto wallet, players would be prompted to enter the banking information that would be required for the crypto casino’s verification process.
Buy Ethereum
After the verification process is complete, now it’s time to buy some Ether tokens from any reliable cryptocurrency site; Ether tokens can be bought with fiat currencies through bank transfers, debit cards, or credit cards. Otherwise, players can also take the help of reputed Ethereum miners who can help them acquire the desired ETH tokens.
Research the Various Gambling Platforms
The next step is to search for a licensed Ethereum casino. Players should do proper research and compare the features as prices are offered, welcome bonuses available along with the variety of games available in different casinos, and then make a choice.
Connect Gambling Account With Your Cryptocurrency Wallet
The final step to start gambling with Ethereum is to connect the casino account with the respective Ethereum wallet of the player and begin playing.
Benefits of Ethereum Gambling
Gambling with Ethereum offers huge benefits to players than playing with traditional fiat currencies:
Faster Transactions
With Ethereum, deposits and withdrawals happen almost instantaneously. Ethereum works more like decentralized digital cash which means that players can interact directly with the operator and also with each other without any intermediating third party intervening and lengthening the confirmation time.
Anonymous Gambling
Ethereum gambling allows gamblers to gamble in complete privacy and this is what makes cryptocurrency casinos superior in the gambling industry.
Low Fee
The absence of any intermediary third party also keeps the overhead costs within limits and thus the transaction fees are less. Moreover, the mining fees of Ethereum tokens have also gone down while other crypto mining prices continue to rise.
More Accessibility
The anonymous Ethereum casinos allow anyone (even those belonging to the restricted countries) to access a crypto casino via any discrete VPN service.
Types of Ethereum Gambling Sites Bonus Offers
Some of the lucrative Ethereum gambling sites bonuses are listed below:
Welcome Bonuses
Welcome bonuses are the most lucrative offers in an Ethereum casino which are given out to players who register at the casino for the very first time. In most casinos, the welcome bonuses are double the initial deposits made by players.
No-Deposit Bonuses
A no-deposit bonus is yet another lucrative perk offered by Ethereum casinos where players can play at the casino without risking their own real money. They can simply activate their account at the casino and start playing for free.
Free Spins
Free spin bonuses are generally awarded to the existing casino players as a promotional offer when any new slot machine is introduced in the casino. However, some casinos also offer free spins to new players. Free spins can be used to win real money at the casino.
Ethereum Gambling Useful Tips
Some of the useful tips to play at any Ethereum casino are:
- Check whether the casino holds a proper license to operate
- Check whether the casino will convert the Ethereum token to fiat currencies or keep them as ETH at the time of withdrawal of winnings; this is important because players do not get the exact amount owing to the fluctuating exchange rates and they might get a bit more or less depending on which way the rates move.
- Check whether there are any wagering requirements involved or any miner fees involved in making ETH transactions in the casino.
Conclusion
Thus, Ethereum has evolved to be the best alternative cryptocurrency in the online gambling industry just after Bitcoin. Nothing can stop gamblers from trying out the Ethereum casinos owing to the plethora of benefits that they offer.
