Ethereum is a virtual currency based on blockchain, as is the case with bitcoin. It is the second most widely used cryptocurrency in the world and is very easy to acquire and use. In this article, we will tell you everything you need to know about slot games sites that accept Ethereum. You will learn the advantages and disadvantages of using this currency, and we will answer the most frequently asked questions about its security and practicality. Read on to find out everything you need!
What online casinos use Ethereum?
While it is true that the use of Ethereum as a payment method in casinos is not as widespread as it is with bitcoin, more and more gambling sites are joining this trend and adding Ethereum wallet as a method of depositing and withdrawing funds. Among the most recommended and well-known casinos that use the Ethereum wallet as a withdrawal and deposit method, we can mention the following:
•Bitcoin casino: This casino was launched in 2013 and is one of the few slot games sites whose payment and deposit methods are specifically cryptocurrencies. This casino offers more than 140 games and has outstanding welcome bonuses.
•Bit Starz: this casino also works exclusively with cryptocurrencies and provides more than 3000 games on which you can bet your money. Their welcome package is exciting, since depending on how much money you deposit, you can get up to 100 euros or 5 BTC.
•FortuneJack Casino: This online casino also has cryptocurrencies as its primary method of payment and deposit, and is one of the best-rated casinos in a large number of review sites. As with the previous live casino, the welcome packages it offers are excellent, and bonuses are given in both bitcoin and ethereum blockchain.
•Stake.com: This online gambling site is not as well known, and it is quite small. It only offers 12 games, but its reputation is outstanding, and the welcome packages are worth a lot.
Why You Should Use Ethereum with Online Casinos?
Ethereum blockchain, besides being the second most important cryptocurrency of the moment, is excellent to use in online casinos because of the speed it offers when making transactions. Another reason why it is a good idea to use Ethereum casino instead of other payment methods is that the winnings we get from gambling will be automatically credited to your Ethereum casino account, which ensures that you will always get the money you won.
How Does Ethereum Work?
As with Bitcoin and other cryptocurrencies, Ethereum is built on Blockchain, a technology that is completely decentralized and public and is used to record transactions on numerous computers.
This means that no banking institution has jurisdiction over any transaction made through Ethereum. Unlike Bitcoin, Ethereum is not only digital currency. while the Ethereum’s currency is called Ether, traders- and especially developers- can use Ethereum as a decentralized computing platform.
Due to the complexity of this cryptocurrency, we can use Ethereum in online casinos in 2 different ways.
The first and most common is the use of Ethereum’s digital currency as a method of payment. This is very similar to payments made with well-known cryptocurrencies as bitcoin, or with more common and centralized currencies such as dollars or euros.
The second way in which we can use Ethereum in online casinos is through the use of intelligent contracts to place bets.
Currently, several online casinos operate in the Ethereum blockchain. With these casinos, instead of sending the Ether directly to the casino’s wallet address, you must send it to a smart contract, and the smart contract will pay you depending on whether you win or lose.
Is Ethereum Legal?
The short answer to this question is yes. The cryptocurrency obtained through the Ethereum platform can be used by virtually anyone without problems, although today, there is no global law regulating the use of it. However, although we could say that it is entirely legal, we have to take into account that in certain countries like China, the use of these payment methods can be restricted. In general, yes, Ethereum is legal, but you must make sure that you will not have any problems with the authorities of the country where you intend to use it.]
Is Ethereum safe?
Ethereum is one of the safest forms of payment available today. This is due to its decentralization, which makes it impossible for a bank to monitor transactions made with this cryptocurrency. Another advantage regarding security is that when paying with the Ethereum currency, it is not necessary to reveal any personal information, you only have to enter the address of the Ethereum wallet, which is very useful if we want to safeguard our information.
Advantages of using Ethereum
As we noticed throughout the article, there are many advantages to using Ethereum on online gambling sites. One of the most important is security and privacy when making transactions and receiving payments since it is straightforward to keep our personal information anonymous. Finally, the speed and, in many cases, instantaneousness when receiving or sending money is also very remarkable.
Disadvantages of using Ethereum
When using Ethereum in online casinos, there are two main disadvantages. First and most important of all is that even though the Ethereum is being used more and more by a large number of casinos, there are still a lot of recognized and reliable casinos that don’t accept this cryptocurrency as a payment method. This means that if you want to gamble with this currency, you’ll have to settle with the casinos that do accept this payment method, which might not be the casinos you usually use. Another significant disadvantage is that in many cases, there are games that are not allowed to play with Ethereum. This often affects mainly poker players since most online ethereum casinos do not accept Ethereum as a payment method for this game.
As we have seen, the use of Ethereum’s cryptocurrency can have many advantages. We hope this article has helped you understand how this cryptocurrency works.
Various Slots Payments
Here’s a list of slot payment methods:
- £10 Deposit Slots
- £5 Deposit Slots
- Apple Pay Slots
- Bitcoin Slots Sites
- Boku Slots Sites
- Ethereum Slots Sites
- Neteller Slot Sites
- No Card Details Slots Sites
- No Wagering Slot Sites
- Pay By Mobile Slots Sites
- Pay By Phone Bill Slots Sites
- Payforit Slots Sites
- PayPal Slots Sites
- Paysafecard Slots Sites
- Skrill Slots Sites
- Ukash Online Slots Sites