Ethereum (ETH) casinos are becoming very popular, which is allowing numerous users to gamble with their favorite virtual currency. This is also part of a bigger trend that started many years ago, and it is closely related to gambling with cryptocurrencies.
ETH is the second-largest crypto coin in the world just right after Bitcoin (BTC). The Ethereum network has expanded worldwide, allowing users to get access to a wide range of solutions and services.
This is also one of the main reasons why crypto casinos are now accepting ETH and making it possible for users to enjoy a wide range of games. Let’s not forget that Ethereum can be used in most crypto casinos due to the large number of users that it attracted in recent years.
In the future, we could definitely see an increasing number of companies and online casinos accepting ETH as a means of payment. Users can deposit and withdraw their Ethereum and bet them as they would do with normal fiat currencies such as U.S. dollars or Euros.
There are some benefits of using Ethereum to play casino games. This is closely related to how the digital asset works. In this guide, we will share with you all the information you should know about Ethereum and why it is becoming popular among the crypto gambling community.
Additionally, we will also tell you how ETH gambling works and how it could help you improve your overall gambling experience.
💡 How does Etehreum work?
To start with this guide about Ethereum casinos in 2022, we should first know what Ethereum is and how it works. Without this information, it would not be possible to understand the benefits of using ETH regularly to enjoy a wide range of games.
Ethereum is a cryptocurrency that was launched to the crypto market in 2015 and it was created by Vitalik Buterin alongside various other recognized developers. Since that moment, ETH has been expanding in the market, which has allowed blockchain technology to grow as well.
Due to this reason, several crypto gambling sites have added support to Ethereum. But how does Ethereum work?
ETH is the virtual currency that runs on the Ethereum blockchain. You should know that you can send and receive ETH as any other currency in the world with just a few taps on your smartphone or computer.
At the same time, each ETH can be worth several thousands of dollars depending on the market conditions. To use Ehereum you do not need to buy the whole ETH, but you can buy fractions of it. For example, you can bet just with 0.10 ETH if you want.
Transactions are usually processed in minutes and you have to pay a small fee to be processed. Despite that, depending on the network congestion, there could be some bottlenecks. This usually happens during periods of large transaction volumes.
You should also know that Ethereum is a decentralized blockchain network. It means that this does not operate like Visa or Mastercard. There are no offices behind Ethereum and no customer support. Nonetheless, there is also no centralization, and payments are not filtered.
These are just some of the advantages of ETH, but there are many others. If you want to enjoy a nice gambling platform, you can start using Ethereum and try playing some of the most exciting casino games.
👉 How to get Ethereum?
The question now is how are we able to get Ethereum? Indeed, it is not common to work for ETH. This is why we need to purchase this virtual currency. Cryptocurrency exchanges are the best platforms available right now through which you can buy or sell ETH.
These platforms known as exchanges accept different payment methods, fiat currencies, and users from different regions. That means that you will be able to buy Ethereum to use at casinos through an exchange.
Exchanges make it very easy for users to get access to virtual currencies. No matter the platform you use, you want to make sure that it supports fiat payment methods (i.e. EUR or USD deposits).
However, you should consider that when you withdraw funds from most of these exchanges, you have to pay a fee. Each platform has different fees and would require you to analyze whether it is worth it or not to process the transfer through these platforms.
There is another way to get Ethereum. Some cryptocurrency wallets make it already possible for customers to purchase ETH directly from their accounts. This eliminates the need for crypto users to rely on exchanges and pay withdrawal fees.
When you use an ETH wallet, you do not have to pay withdrawal fees. In some cases, the wallet itself would enable crypto purchases with debit or credit cards. This could be one of the easiest ways to get ETH and to start enjoying some of the best gambling sites with your Ethereum coins.
There are other ways to get ETH. For example, you could get them from another person. Nonetheless, this is more complicated and risky. The best way is by using exchanges or specific wallets.
🛡️ Where should you keep your ETH?
We talked in the previous section about how to buy Ethereum and where to do so. As you see, you might be holding ETH in a cryptocurrency exchange. In the crypto market, users know that exchanges do not give you control over your virtual currencies.
This is one of the reasons why you want to hold your digital assets in a cryptocurrency wallet. Wallets are either software programs or hardware devices where you can hold, send and receive virtual currencies.
The positive thing about crypto wallets is that you can hold your ETH and keep the private keys of the wallet. That means that you will be the real owner of your funds at all times. Instead, when you leave your Ethereum coins in an exchange, then you give control of your private keys to the exchange you use.
Holding your ETH in an exchange is not a bad thing to do if you are a trader that must have the coins there in order to trade. But it is usually recommended not to have lots of coins on an exchange.
You can compare an exchange to having your money in a bank account. You can store, move or receive funds usually at any moment, but the bank ultimately decides whether you can send or receive a transfer. In some cases, the bank could freeze an account and even take your money as it happened in many countries in the last decades.
Furthermore, exchanges are usually targeted by attackers. Software and hardware wallets are usually the safest ways to hold virtual currencies. If you hold some Ethereum that you want to use at a crypto-friendly casino, you can use a software wallet. This would be the best way to receive, buy and send ETH in just some simple steps.
↔️ How do Ethereum deposits and withdrawals work?
If you want to play at a gambling site, then you will have to send the ETH that you have to the casino wallet address. Think of the casino ETH wallet address as a bank account number for Ethereum.
To send ETH to the casino wallet, you will have to copy their wallet address (make sure that the address is copied exactly as it is shown) and paste it on the receiver address in your wallet. You should confirm the amount of Ethereum that you want to send, and the transaction will be processed in some minutes.
Bear in mind that your transfer will consume some fees. During periods of network congestion, the deposit or withdrawal could take a longer time. In some cases, the transaction could take up to some hours to be processed. In general, with standard fees, the transfers should be processed in minutes.
Let’s suppose that you had a good time at the casino and you want to withdraw your Ethereum. This is the same mechanism as depositing funds but in the other way around. You will have to copy your ETH wallet address and paste it into the withdrawal address requested by the casino.
Again, make sure that your address is the same as shown in your wallet. Even a simple mistake could end up sending the funds to the wrong wallet address. If that happens, you could lose your funds.
Crypto-friendly casinos are usually very clear in their instructions on how to withdraw funds to your wallet. It is just a matter of following the steps shown by the gambling site. This could take some minutes. Some casinos might have higher withdrawal fees than others, this is why you should pay attention to it.
🎲 What casino games can you play with Ethereum?
If you now have deposited ETH into the casino platform, you will be able to play a wide range of games offered by the gambling site. Most of the online casinos offer numerous live games and slots for users to play.
If you are searching for specific games to play with ETH, the best thing you can do is to filter the casino platforms by payment methods (ETH) and check whether they have the game that you would like to play with Ethereum.
Generally speaking, you will be able to use ETH to play slots, live casino games, and table games, among others. Depending on the casino you are using, you will also have promotions and other competitions that would let you enjoy unique games and tournaments.
Some casinos would limit the number of games you can play using Ethereum. However, most of the crypto-friendly platforms would offer as many games as possible for users to play with their ETH coins. The goal is to offer the same or even better experience to users that play with digital assets and fiat currencies.
Depending on the Ethereum casino you selected, you will have different game providers. This information can be found on the official site of the casino. The larger the number of game providers, the larger the list of games that users will be able to play with ETH.
Nowadays, as soon as a casino gets a respectable license, they are able to offer games from most game providers in the industry. If you find a gambling site with a good license and a large list of game providers, then you should seriously consider it to play with your ETH.
🪙 What coins can be used for gambling besides ETH?
As you might know, Ethereum is not the only virtual currency in the market. There are other cryptocurrencies available and that investors from all over the world would like to use for gambling.
Bitcoin (BTC), Litecoin (LTC), Dogecoin (DOGE), and Tether (USDT) are just some of the digital assets that are widely used to play casino games.
Each of them has different features and characteristics. Some users prefer to use BTC while others prefer ETH or LTC. Indeed, it could have an impact on you to use ETH or other coins.
Bitcoin (BTC) is the largest cryptocurrency in the market and the first one to be released. It is also the most valuable and the most adopted by shops, investors, and users. This digital currency is reliable and is usually the most commonly used digital asset to play casino games.
Ethereum (ETH), instead, is faster and cheaper to use than Bitcoin most of the time. This is why there is a large number of users that would like to play at casinos using ETH rather than BTC. Check out this Bitcoin vs Ethereum comparison to know which coin is more suitable for gambling.
Litecoin (LTC) is also one of the oldest digital assets in the market. It behaves in a very similar way to Bitcoin. However, LTC is faster and cheaper to use than even Ethereum. Due to this reason, LTC could be one of the best choices for users that want to play at casinos.
Dogecoin (DOGE) is a meme virtual currency that became popular in recent months after Elon Musk started talking about it. Due to its massive price increase, users started considering it for gambling. One of its strongest points is related to the fast transaction speeds and low fees.
Finally, we should also include stablecoins. Tether (USDT) is the biggest stablecoin right now. It runs on top of different blockchain networks but mainly on Ethereum. If you prefer to use stablecoins (its value is pegged to the US dollar), then USDT could be the right choice.
🔎 KYC in Ethereum casinos
Most of the cryptocurrency casinos on the internet require users to pass a Know-your-Customer (KYC) verification. This is generally a mandatory thing for users that want to gamble with ETH. Casinos that work under a license would have to conduct regular KYC checks.
KYC checks are different among casinos and in some cases depend on the number of funds you handle on the platform. Generally speaking, for small amounts of ETH, you would not have to pass a KYC check, but as soon as you start betting and adding some more funds to your account, you might have to share personal data with the Ethereum casino.
These procedures are also very common in crypto exchanges and require users to share an ID, a name and surname, and sometimes some additional information. Those users that handle large amounts of ETH would have to even share an address or show additional information about the source of the funds.
Thus, if you are a small casino lover, you might not have to pass KYC checks. In some cases, it would be strictly necessary. If you are a traditional player that plays on a regular basis and with more funds, then you will have to pass a KYC check.
Larger players would have to add more private data to play with even larger sums of money. Take into consideration that the KYC checks are in place for users that play with ETH, BTC, or any other digital asset or fiat currency.
Finally, in some cases, the casino will request a KYC before a withdrawal, in other cases, they would request you to pass these controls once you reach a predetermined sum of money gambled. More regulated ETH casinos would request you more information upon registration.
✔️ How to choose the best Ethereum casino?
There are some rules that we could follow if you do not know how to choose the best Ethereum casino online. In general, we should take into consideration the reputation of the platform, the games they offer, the welcome offer, the loyalty program, the withdrawal fees, and more.
Reputation
If you want to make sure that the casino you selected is a good platform and would offer you the services it promises, then you should check its reputation. There are many ways to do so. One of the easiest things to check is whether there are reviews of this platform.
Search for Ethereum-related reviews such as withdrawal fees, KYC checks, payment-related things, and more. If you find several negative reviews, you should consider searching for another online casino.
Instead, if you see that most of the reviews are positive or that the negative comments have been addressed then you could consider this casino has a good reputation.
Country check
You should also check whether the country from where you are playing is not considered to be a restricted region. This usually happens with some Ethereum casinos. In order to check that, you can go to their terms and conditions and see whether your country is not restricted.
In some cases, you might be able to use a VPN. Despite that, you should check with customer support whether you are allowed to use or not a VPN to play at their casino.
Games
We want to use an online casino that supports Ethereum because we want to play different games. The larger the number of games offered, the better it would be for us. You want to also check if your favorite games are included in this online casino. If you find that most games are available for you, then go ahead and start gambling.
Welcome offers
If you want to choose the best Ethereum casino, you should also understand which are the welcome offers they have. Having this in mind would let you decide whether there is a platform that stands out from others.
You should usually check the deposit bonus offered and the wagering requirements. Make sure you read this information well before deciding on the casino platform you would use.
Loyalty program
If you are planning to be a long-term casino player, you would like to be rewarded and recognized for it. Some crypto-friendly online casinos are offering a loyalty program that would reward you while playing.
If you want to have more information about these loyalty programs, you should also check if they have achievable levels or not. For example, some casinos require users to bet over $10,000 in order to reach some of the medium loyalty levels.
Withdrawal fees
Finally, as you are searching for an Ethereum casino, you want to also know the withdrawal fees for this payment method.
If the fees are higher than other platforms, it means that they are not being efficient with the funds they handle. The lower the fees to withdraw your ETH, the better it would be for you. The Ethereum network does not have fixed fees.
👍 Pros and cons of Ethereum gambling
This is a list of the most important pros and cons of Ethereum gambling
Pros:
- Ethereum is a fast and relatively cheap cryptocurrency to use for gambling
- You might use funds from recent investments you’ve made
- It is safer than using debit or credit cards (you don’t share private information)
- Transactions are faster than traditional wire transfers or other payment methods
- Some online casinos offer special tournaments or bonuses for ETH players
- ETH offers endless possibilities to users
Cons:
- Some casino platforms might not support ETH
- Transaction fees could be higher during periods of congestion
- There might be fewer games for ETH gamblers