|Information about Ethereum|
|Developers:||Vitalik Buterin, Gavin Wood|
|Best ETH Casino:||Bitstarz|
Ethereum, also known as ETH, is a decentralized open-source blockchain system.. While the cryptocurrency is significantly less known and also less popular than the Bitcoin but it could play an increasingly important role in online business in the future. This also applies to the gaming sector, where more and more platforms are including cryptos in their payment portfolios.
In the meantime, the selection of Ethereum casinos has already grown significantly and our experts have been noticing a clear trend towards this alternative payment methodwhich is
- secure and anonymous
- without the involvement of the bank
- usually promptly and without processing time
We see it as a decisive factor for this development that many casino customers appreciate the possibility of relatively uncomplicated, on the go and yet as anonymously to top up their gaming account. Previously used payment methods with a similar character, such as Paysafecard, Neteller or Skrill are no longer available at some casinos, or are only available to a limited extent.
Table of Contents
- The best Ethereum casinos
- How Ethereum works in online casinos
- Advantages & disadvantages of Ethereum casinos
- Tips & tricks for payment with Ethereum
- The historical development of Ethereum
- Ethereum FAQs
- Conclusion about Ethereum Casinos in Australia
The best Ethereum casinos 2023
To help our readers find a casino with Ethereum as a payment method, we have searched, tested and rated the providers:
How Ethereum works in the online casino
First of all, a deposit with Ethereum is only possible in so-called "crypto casinos" – that is, at providers that generally accept cryptocurrencies such as ETH. In this case, the deposit is made via well-known and secure crypto walletssuch as Coinbase or Binance to name just a few of the established ones. For our international readers we have listed the Top Ethereum Casinos on Casino.Guide (english) listed.
In principle, these can be used with real money wallets such as PayPal, Skrill and Neteller can be compared. There, too, a deposit can be made in euros or any other currency. Afterwards, there is the option to exchange the fiat balance for Ethereum. The following should be taken into account sometimes significant price fluctuations – comparable to the better-known Bitcoin.
If the exchange, also called exchange, has taken place, any value may be deposited in the Ethereum Casino within the framework of defined limits. So, for example, if one were to invest 1 ETH, then it would come after the real-time credit to the casino account usually directly to the corresponding conversion. Crypto providers in the gaming industry adjust to the daily updated prices.
Procedure of depositing via Ethereum to the casino account:
- One goes to the cashier area in the casino account
- Select the Ethereum payment method
- Sets the desired deposit amount
- Now the casino generates a unique Ethereum address for this operation
- Then you go to your own crypto wallet and send the desired number of Ethereums to the address generated by the casino
- A few minutes after the money arrives at the casino provider's address, it is recorded as a credit in the casino customer account
Advantages & disadvantages of Ethereum casinos
- What are the advantages of using Ethereum as a casino payment method?
- What are the disadvantages with Ethereum casinos?
1.) What advantages does Ethereum offer as a casino payment method?
ETH now enjoys a good reputation among investors in many good reputation among investors and is also already in many places officially recognized. If you want to buy a whole coin, it is much easier with ETH. In contrast to Bitcoin, Ethereum has a significantly lower value. significantly lower value.
It is importantIt is important to open a wallet before depositing ETH in the casino. This can usually be used in all known Ethereum casinos. The cryptocurrency remains stable on the market, is considered attack-proof and thus ultimately also brings various advantages to the operators of renowned casinos. Fraud, as already noted at the beginning, is almost impossible.
The most important advantages of Ethereum at a glance:
- Deposit securely and anonymously
- Transactions without direct bank involvement
- Recognized cryptocurrency
- Transaction fees manageable
- Power savings of 99.95% since switching from Proof of Work to Proof of Stake in September 2022
Paying with cryptocurrencies is permitted in this country. This applies to online casinos as well as to all other industries. The following countries, among others, already accept Ethereum as a digital currency:
|Countries (selection) – Ethereum officially accepted|
In addition, there are numerous other countries that recognize the currency but have never officially legalized it.
2.) What are the disadvantages with Ethereum casinos?
Among casino players, Ethereum, or ETH. is by far not as popular as the Bitcoin. On the part of casino operators, however, the cryptocurrency now counts, if digital currencies are an issue at all, to the standard offered and is thus in a row with the Bitcoin or the Litecoin.
Of course, we also want to point out the disadvantages of the coin:
- Exchange fees have to be taken into account
- Volatility of the currency
Tips & tricks for payment with Ethereum
When choosing a crypto casino, you should pay close attention to whether the stakes are calculated in ETH. Often, as already mentioned, the stakes are exchanged for euros. It is usually not possible to transfer the winnings to a bank account, but only to the wallet specified during the deposit. In addition, of course, it should be asked whether the casino the exchange rate fluctuations takes with it.
Example: The player deposits 1 ETH and plays in the casino for a few weeks. After the transaction, the balance is exchanged for euros so that the stakes can be placed as usual. The Ether value is ultimately also decisive in the payout. If, for example, a profit is made while playing that exceeds the original deposit, but the ETH rate has fallen in the meantime, it may be that the exchange rate loss during the payout, i.e. when euros are exchanged back into ETH, eats up the profit and the player ends up with less. The daily valid rates are decisive for the calculation.
"A tip for saving costs: When choosing a crypto wallet, fees and possible additional costs should be compared in any case. The reputable wallet providers are considered transparent and usually answer questions in this regard reliably." Kevin Lanson – Casino Expert and Author
The historical development of Ethereum
The history of the cryptocurrency can be traced back to to the year 2013 back. At that time, ETH was first mentioned in a whitepaper by Vitalik Buterin, a Russian born in 1994. However, the release of the currency did not become a reality until the summer of 2014, when co-founder Gavin Wood published a Yellow Paper (founding declaration) on the Ethereum was published.
The digital currency was launched on June 30, 2015, when an online crowd-sale was projected, enabling the two founders to make their vision a reality. With Ethereum, the founders pursued the goal of creating a platform for decentralized applications. applications. Success was not long in coming.
After only about seven months, on February 29, 2016 to be precise, Ether, the currency behind Ethereum, reached a market capitalization beyond the $500 million mark. It took less than two weeks from that point to double in value.
For the first time, Ethereum Classic 2019. Target of a hacker attack. However, "only" around 1.5 million US dollars were captured. In general, cryptocurrency is one of those that is comparatively safe from attack – more so than ever since the incident. On top of that, even censorships, defaults and fraud with the currency can be almost ruled out can be ruled out.
The Ethereum blockchain network has since received an upgrade. Ethereum 2 – or. ETH 2.0 is considered to be even more secure and efficient, but will continue to be listed as Ether. For owners of the cryptocurrency, no innovations arise and nothing changes for the deposit to the casino. It is more important to familiarize yourself with common questions about the payment method.
- Does crypto casinos have a special Ethereum casino bonus?
- Where do I get Ethereum?
- Are Ethereum wallets secure?
- How do I find reputable Ethereum casinos?
- Which countries accept Ethereum?
- Where can I find details about the ETH value?
- How long does it take to cash out using Ethereum?
- Are there Ethereum alternatives?
1.) Does crypto casinos have a special Ethereum casino bonus?
Of course, the bonus policy of the respective online casino also applies to payments with cryptocurrencies. However, in our extensive casino tests, we could not find any provider that explicitly offers bonuses for using Ether when making payments.
However, this fact has no influence on the awarding of other bonus offers, such as the welcome bonus. Those who would like to claim this and make their first deposit with Ether, will of course receive the Welcome bonus in Ether as well, of course.
The welcome bonus offer at Cloudbet Casino includes, for example. 100% up to 5 BTC/BCH/ETH/PAXG/DASH/LTC, 100 LINK, 1,000 USDT/USDC/DAI/PAX or 10,000 DOGE. So those who deposit 5 Bitcoins will also receive 5 Bitcoins as a welcome bonus.
Those who choose Ethereum will receive 5 Ether. The monetary difference is of course immense and in our example in Bitcoin amounts to more than $127,225 (5 BTC are around $127,225, 5 ETH are just over $8,770 – as of 5/31/2023).
Such sums will be afforded by high rollers at most. However, the minimum deposit to qualify for the welcome bonus at Cloudbet is only 0.01 BTC/BCH/ETH/PAX.
If it is also possible to play with ETH in the favored Ethereum casino, all bonuses are also paid out in Ether. If the provider converts deposited coins into fiat currencies, the bonus will also be paid in this currency.
2.) Where do I get Ethereum?
There are relatively many established crypto exchanges today, such as Bitpanda. These can be used as a wallet at the same time. After registration, a deposit can be made using common methods – including, by the way, also Sofortüberweisung – can be carried out.
The fiat currency, in this case the euro, can be exchanged for any cryptocurrencies on the Exchance exchange. In fact, ideal are always those exchanges that allow both an exchange in ETH and the holding of the coins.
Good addresses are:
When buying, you should keep an eye on the current rate for a bit. Such trades are recommended when the price is just quite far down. Especially before the official breakthrough, Ether was affordable at a few cents per coin. But even today the costs for an Ethereum purchase are much more manageable than for Bitcoin.
3.) Are Ethereum wallets secure?
It depends on which wallet is used. Especially because the sales market for ETH is now huge, it is essential to protect yourself from black sheep. We recommend choosing one of the wallets designed by our experts for buying and managing Ethereum. There Security, data protection and also protection against unauthorized access in the first place.
4.) How do I find reputable Ethereum casinos?
Generally, a crypto casino does not necessarily have to have an Australian gambling license. Also providers without a planned license in Australia can be quite reputable.
What is important here is, that the chosen company is controlled overall – be it in terms of payout rates, payment methods, support or other factors.
Provided that these requirements are met, it is of course convenient for players if, on top of that, transactions with ETH are permitted. The decisive factor is whether the crypto wallets used actually work. Sometimes a prior transfer via cryptocurrency may be required.
5.) Which countries accept Ethereum?
According to specialist portals, there are now more than 111 countries in which transactions with ETH are possible. Australia is one of the destinations in Europe that legally accept the currency, while others generally only tolerate crypto coins, but have not officially legalized them to date.
If the preferred crypto casino accepts Ether, this will be shown in the cashier just the same. Usually, it says something about Crypto Currency. Behind this is a kind of separate wallet to which all known coins can be deposited. Alternatively, the payment can usually be made via more well-known alternatives such as Bitpanda.
6.) Where can I find details about the ETH value?
Daily updated values are listed in the used wallet as well as on popular crypto exchanges. Once you have registered and accumulated Ether, you will get an overview of the value quite quickly, which is mostly fluctuates daily by a few euros. Even when not speculating and trading on the crypto exchange, it makes sense for owners of ETH Coins to always keep an eye on the prices. Just when the price is down, it is worthwhile to buy.
At currently around 1,559 euros (as of February 2023), the value is significantly below that of bitcoin. Whether Ethereum will eventually manage to catch up with its big competitor among the crypto coins cannot be said with certainty. The main thing is to find out about the rates in advance, because the higher the value, the more likely it is to be worth making a crypto deposit with Ether to the online casino, of course.
7.) How long does it take to make a withdrawal using Ethereum?
Depending on the casino, a payout of winnings can be made in ETH, but mostly the providers rely on classic real money currencies such as the euro. The conversion of the coins is already done with the deposit, so that money can be used in games in the classical way.
A credit to crypto wallets is usually common, provided that the deposit is also made in this way. The payout is based on the current value, so it is also paid out in ETH. Waiting times of two to four business days are common for payouts in reputable crypto casinos usual.
8.) Are there Ethereum alternatives?
Blockchain solutions are now plentiful. Thus, the challenge is to find alternatives that are as stable and secure as Ether. The most well-known is, of course, bitcoin.
Our list of the best alternatives:
Although the selection is quite extensive, not all cryptocurrencies are automatically accepted by established online casinos. Therefore, it is important to take a close look and acquire coins that can be used to make a deposit.
Conclusion about Ethereum casinos in Australia
The options for depositing in crypto casinos with Etherum are becoming more and more extensive – because currently, this currency in particular is becoming more and more popular. Advantageous is in particular the compared to the Bitcoin lower value of the coins. The purchase of a full ETH is therefore currently possible at a significantly lower amount.
About common and reliable crypto wallets can usually be deposited via ETH without any problems. The withdrawal is possible in the same way. If the casino does not perform an internal conversion into euros, the game balance remains unaffected by any exchange rate fluctuations. In general, casino operators are working at full speed on further innovative solutions for crypto players.
Buying Ether is relatively simple. A wallet like Bitpanda or Coinbase enables both this and trading with coins – which, however, is a completely different topic and ultimately has nothing to do with ETH payment in casinos.
More casinos with Ethereum
Author: Kevin LansonRated: EthereumAuthor Rating: