Finding Ethereum Online Casinos is becoming easier as time goes by. Cryptocurrencies and the online gambling industry are both gaining popularity, and it is no wonder why the combinations make sense to many. Ethereum has taken its place as the second most common cryptocurrency, and that makes many online casino players wonder, which online casinos accept Ethereum? Below you can view the full list of Ethereum Online Casinos, or you can read further and learn a bit more about the background of the cryptocurrency.
Best Ethereum Online Casinos
The Rise Of The Blockchain
Satoshi Nakamoto, a mysterious person or group, outlined the concept of blockchain, way back in 2008, and also invented the Bitcoin. The blockchain can best be described as a digital ledger that keeps track of every single transaction that has ever taken place across a particular digital currency. Due to the nature of its cryptography, it is incredibly secure and virtually impossible to crack. The fact that Bitcoin was highly secure and ןד globally distributed made it, along with other blockchain-based currencies, very appealing to many. People are using Bitcoin for a variety of applications, despite the fluctuations it has suffered throughout the years. The combination of being globally distributed and highly secure made Bitcoin and other blockchain-based digital currencies highly attractive almost as soon as they were invented. It is no wonder that the gambling industry worldwide was also quick to jump on to the Bitcoin train.
Finding Online Casinos That Accept Ethereum
The number of casinos that accept Ethereum as a deposit method isn't the biggest list on our website. However, the first on the list are great casinos you should consider. And although not every online casino will accept Ethereum, the currency is gaining popularity. It is being added as a deposit method to more and more casinos as the days pass. To find the best Ethereum online casinos. You could make use of our comprehensive list of online casinos that accept Ethereum, and follow it up with a simple Google search if you're in the mood to explore. However, it is advisable to exercise more caution than usual, because of how new Ethereum is to the field. It is essential to read online reviews and learn from the experience of existing players. It is equally important to check the terms and conditions of sites offering Ethereum deposits. Hidden clauses of newer casinos could prove to be fatal in the long run, and it is better that you realise that before signing up rather than after you try to cash out.
Advantages Of Ethereum For Online Gambling
Several advantages come with using Ethereum for online gambling. The main benefits include:
- Transparency - Cryptocurrencies gained a lot of popularity due to their ability to keep track of every single transaction made using them, without revealing the identity of the parties involved. This makes for a great advantage when it comes to online gambling.
- Security - You want to be calm when you choose to transfer funds from one end to the world to another. Cryptocurrencies and Ethereum specifically, handles millions of transactions daily and is being trusted by giants like Microsoft, IBM and JP Morgan. To us players, it makes for an excellent deposit method to use.
- Easier, cheaper and quicker - Ethereum, like all online wallets based on blockchain, promises to make faster, easier and less expensive payments. Although these require a small amount of technical know-how, it is bound to get more comfortable with time, and it is worth it.
Disadvantages Of Ethereum For Online Gambling
Although Ethereum and Ether are promising, it isn't wise to adopt them without realising the risks and issues that accompany them. There are a number of snags when it comes to using these technologies for online gambling. Some of the key disadvantages are:
- Ethereum is a very new platform, which means that the software behind it is pretty new, even if you compare it with Bitcoin. The inherent risk that comes with such new technology cannot be ignored. The risk is even higher if you're an early adopter of the technology, which is why online casinos adopting Ether are at a far higher risk than those who wait and figure out the problems and spend time solving the loopholes.
- Using Ethereum requires some amount of technical knowledge, and it is a known fact that even seasoned programmers are facing issues understanding the platform. *Since we originally wrote this article, things have changed a bit and now using Ethereum is much easier than before.