What to Know About Ethereum Gambling Sites
If you are familiar with virtual coins, Ethereum shouldn’t be a strange term to you. The rise of cryptocurrency in online casinos is thanks to the value of virtual coins like Bitcoin, Litecoin, Ethereum, etc. No one can deny that the anonymity and payment speed of crypto casinos are great advantages to players. The high demand for crypto casinos rarely comes as a surprise.
This text has put together the best sites that allow you to gamble with Ethereum. We also have a detailed explanation of how to fund your Ethereum gaming account and how to initiate withdrawals. So what are you waiting for? Read this explanatory article and go ahead to sign up on any site of your choice.
How Do We Rate Ethereum Casinos?
We know that before getting committed to a crypto casino, there are several questions that you want to ask. How do we rate Ethereum casinos? What are the things we put in place to know that the casino is good for you to play in? These are the things our experts consider when evaluating Ethereum gambling sites.
Security & Licensing
A major criterion we consider in rating Ethereum casinos is the presence of an operational license. The license an online casino carries is not for aesthetics. It is proof that they are bound by regulations and policies. The United Kingdom, Malta, Sweden, Spain, Netherlands, Canada, and Australia all have independent bodies that provide licenses to deserving online casinos.
Adherence to industry standards is a key parameter, and it determines if players can expect a fair gambling experience or not. If a casino has a license, it is also bound to have a minimum security protocol implemented. Top Ethereum casinos often have great encryption protocols protecting their players and games.
Website Design
The quality of the website design of online casinos is easily noticed by how easy it is to find whatever it is you are looking for. A great website design begins with a fine blend of the colour palette to create a perfect ambience for gameplay. We look for the quality of the site layout, fonts, colours, and sound.
Customer Support
When rating online gambling sites, we check the ease of access and effectiveness of their customer support. As expected, players may have questions that are not answered in the FAQs or issues that need to be resolved. We rate the customer support team based on two parameters:
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How quickly they respond
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How helpful their responses were.
It is also a plus if customer support is available in multiple languages, not just English.
Bonuses & Promotions
Due to healthy rivalries between online casinos, there are tons of bonuses available for players. We take our time to review the offers and promotions available at each site, especially how players can qualify for them. Common bonuses at Ethereum sites include the welcome bonus, no deposit bonus, free spins, loyalty bonus, etc. We also verify the terms and conditions, especially the wagering requirements.
A fair requirement would be to wager the bonus received twenty to thirty times before you can withdraw payouts won using the bonus. However, some online casinos insist on wagering requirements as high as 50x. All these are part of the information we make available in our reviews.
How to Deposit and Withdraw with Ethereum Online
Conducting your finances at a crypto casino isn’t cryptic. In fact, it is quite easy and faster than using traditional banking methods. Below is a step-by-step explanation of how to deposit and withdraw with cryptocurrency at Ethereum casinos
How to Deposit
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Sign into your gaming account. You should have one as a member of the online casino.
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Proceed to the cashier section of the online casino. Then, choose ‘Ethereum’ as your deposit option
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Copy the unique wallet address for your account displayed on the screen. Go to your Ethereum wallet and input the wallet address
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Input the amount you wish to deposit. Ensure that you confirm the transaction
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The funds should be in your gaming account within minutes. Now, you can begin to place bets.
How to Withdraw
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Go to the cashier/payments section of your online casino. Select Ethereum as your withdrawal option.
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Input the address to your personal Ethereum wallet. This is a unique code for your eyes alone.
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Confirm the amount you wish to withdraw. Also, ensure that you meet all the withdrawal requirements.
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Confirm your withdrawal. Your funds should be in your wallet within minutes.
Pros and Cons of Ethereum Gambling at Online Casinos
As an online casino player, you get to have some advantages when you choose to play with Ethereum. As a crypto casino player, you need to be fully aware of the pros and cons of Ethereum gambling.
Pros
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Swift Transactions: Players get the advantage of having their deposits and withdrawals completed within minutes with Ethereum
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Full Anonymity: Blockchain technology guarantees the anonymity of users as Ethereum cryptocurrency hardly keeps any bank records or account holder’s information.
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Mobile Compatibility: Most Ethereum wallets are compatible with mobile devices, and players can make their transactions from their mobile.
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High-End Security: Players can rest assured that there is top-notch security for their funds. The blockchain ensures the complete security of Ethereum wallets.
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Near-Zero Transaction Fees: Players are not charged any ridiculous fee for their transactions because there is no centralized body to fix any such charge. Most transactions cost less than a dollar to process unless the amount involved is quite high.
Cons
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Still New and Relatively Untested: The cryptocurrency market, in general, is still relatively new when compared to fiat, and its capacity to remain strong in the face of the crisis remains unproven.
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Difficult to Understand: the usage of Ethereum wallets can be a bit difficult for those who have never used crypto before and may be challenging to learn.
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Random Market Fluctuation: Unlike fiat currency, the Ethereum market is subject to major fluctuations as it is not backed and regulated by any government.
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Systems Could Crash: Although slim, there is still a possibility that all the key systems involved can crash. If this happens, all coins may be lost, and because it is not operated by any central authority, it may be difficult to recover lost funds.
Other Gambling Cryptocurrencies at Online Casinos
Other gambling cryptocurrencies are quite renowned and accepted at crypto casinos that players can use. Popular ones include:
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Bitcoin: Created by the mysterious Satoshi Nakamoto, who simply wanted an electronic financial system that is not based on blind trust but rather on cryptographic proof. It is used to buy and sell products or services and can be exchanged directly. This is all done without the influence of central control of banks or other regulatory bodies.
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Bitcoin Cash: This cryptocurrency is a spinoff of Bitcoin. The altcoin was launched in 2017 and performs the same function as every crypto coin out there. Transactions on Bitcoin Cash are carried out and verified using blockchain technology.
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Litecoin: It runs on peer-to-peer technology and is used to facilitate instant financial payments. It is also void of a central authority, and transactions are peer verified and confirmed. The decentralization of the network means the system is powered by the devices of individuals across the globe.
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Monero: This is another decentralized virtual currency that runs a publicly distributed ledger. A major feature of Monero is that it is enhanced to provide a higher level of anonymity than other regular cryptocurrencies. This is because the Monero ledger does not keep records of the wallet addresses of the sender or receiver.