Last Updated on May 19, 2021
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One of many things that are pushing gambling into new territories in 2021 is cryptocurrency. While you may have heard of Bitcoin, another attractive choice is Ethereum – and if you’re a fan of gambling, Ethereum casinos might just be ideal for you.
Bitcoin has long been the most prominent, but other digital coins have emerged in the market and have gained significant interest. Ethereum was created in 2015 by a Russian-Canadian programmer Vitalik Buterin. Thanks to its excellent security features, Ethereum has fast become one of the most popular cryptocurrencies in the gambling industry. The coins themselves are known as Ether; most people only know them as Ethereum because of the system that provides them.
There are certainly a few reasons why you might want to get a few Ethers for yourself – and if you think you’ve got what it takes to win, you might want to check out Ethereum casinos.
Not sure why gambling at an online Ethereum casino could be a good idea? If so, it might be worth taking a look at some of the key advantages listed below.
For many people, the privacy that most cryptocurrencies have to offer is an incredibly appealing aspect, especially when it comes to casinos. After all, it can be a bonus to know that the details of your online gambling habits will be kept private. Better yet for those at an Ethereum casino, these particular sites tend to offer an even higher level of security to their customers.
With most of the Ethereum casinos you see, you’ll find that you won’t be required to give any personal details to sign up – you might not even have to enter a username or register to play. So, how do you get your winnings? All you’ll have to do is link your crypto wallet to the site, and the Ether you win will be transferred over to you.
It’s common to provide personal details when it comes to other digital currencies. While this may not be much of a hassle for some people, it’s worth considering the extra level of privacy that you can get from using this currency instead.
Another reason why a lot of people may want to choose Ethereum casinos is the simple fact that Ether is far from a slow cryptocurrency. There’s no doubt that you’ll get to enjoy a fast transaction with most, but there aren’t many that can match the almost instantaneous speed of Ether.
It’s even quicker than Bitcoin – a currency that’s known to have transactions faster than centralised currencies. Sure, a Bitcoin transaction can be completed in a couple of minutes, but Ethereum could be as fast as a few seconds. Which would you prefer?
Of course, there may still be a waiting time due to the processing period, where the casino’s staff members will have to approve your withdrawal application. However, as soon as they do, you’ll be able to enjoy a swift transaction.
Aside from paying a small cost for the maintenance of the blockchain, you won’t need to worry about being charged on your transactions. While fees may be common with centralised currencies Ethereum is run on an automated system, meaning that there’s no bank involved to authorise the transaction, and no additional fee to pay the authority.
While this is something that can be attractive about any decentralised currency, it’s certainly a benefit that you should keep in mind when gambling.
Unfortunately, you may also find that there are a few disadvantages that can come with these types of casinos. If you want to make the right choice, it can be wise to be aware of the potential pitfalls, too.
While there’s a lot that differs between standard and cryptocurrencies, they both have one thing in common – they’re both a type of currency that holds a value. This can make them quite appealing to thieves and if they have the skills, they could potentially hack a crypto exchange and take your money.
While theft is a risk with both digital coins and centralised assets, there are things that you can do to ensure the safety of your investment. For example, in order to keep your Ether safe, it can be worth investing in a secure, reputable crypto wallet. There are a variety of options to choose from, so make sure you do so wisely and find one that will be able to protect your money.
While Ethereum is certainly popular, it’s not quite as well known as Bitcoin. Because of this, there are many more gambling sites that use Bitcoin instead. The good news is that, since Ether is still one of the most recognised digital coins, and it’s starting to become more common to see it. Although if you want the best experience, it might be best to try and scour the web for a legitimate Ethereum casino instead.
Gambling is as popular an activity today as it has ever been, if not more so in fact. With all of the changes and advancements that the industry has seen, it’s no surprise that it continues to grow. Looking at the pros and cons, you might be weighing up the facts to decide whether or not it’s worth your time and money. All in all, Ethereum is an excellent choice due to everything that it has to offer; from its additional security, to excellent speed.
Just like with any form of gambling or investment, there’s a chance to make a great profit as well as the risk of losing out on cash. The important thing is to be wise about your decisions, especially when it comes to Ethereum casinos