Ethereum has to be one of the most popular cryptocurrencies accepted by casinos. A large majority of players accept and prefer it because it allows them to play anonymously. However, the most significant advantage of choosing the payment method is that it provides gamers with a high level of privacy and eliminates the need to be concerned about their security.
Ethereum is one of the most widely used and popular cryptocurrencies today. It’s a financial system that offers improved security, transparency, privacy, payment speed, and the website is easy to use and navigate. The payment method has amazing qualities that allow for decentralized and digital transactions. This explains the increased addition of Ethereum casinos since its launch in 2015. the vast majority of Ethereum casinos also accept popular cryptocurrencies such as Bitcoin, Dogecoin and Litecoin.
An Ethereum Casino is any casino that accepts ether (ETH) as a form of payment and has developed its whole gaming experience on the Ethereum blockchain. This means you can take advantage of the usual perks, such as games and win odds, as well as the extra benefits of quick transactions and anonymity. Ethereum can be utilized as a decentralized program, which means that even if casinos based on blockchain wanted to, they couldn’t meddle with games.
How To Make Ethereum Payments
Getting started with using the payment is quite easy. Follow these steps to get started, and in no time, you will be ready to make deposits and withdrawals using the payment method.
1. Create An Account And Purchase Ethereum
Registering for an account at an Ethereum casino is the same as signing up for an account at any other online casino. You will use your personal information to create your account at the casino of your choice and complete your identity verification. After that, you’ll need to purchase Ethereum on a cryptocurrency exchange and put it in a cryptocurrency wallet.
2. Make A Deposit Into Your Casino Account
Once you have funds in your cryptocurrency wallet, you head to the casinos’ deposit page. Your account will have to be registered and validated. You will choose Ethereum as your payment method of choice. It’s crucial to note the casino’s minimum deposit requirements before deciding how much money you want to deposit into your casino account. Once this is done, the casino will generate an Ethereum wallet address to which you must send funds from your cryptocurrency wallet. To finish the deposit, click Submit Payment.
3. Claim Your Ethereum Casinos Bonus
Depending on the casino site you are playing at, there will be several bonuses to claim. These will range from welcome bonuses to cryptocurrency bonuses. Some casinos go as far as offering players Ethereum specific bonuses. This means if you are making your first deposit or any other deposit using the cryptocurrency t you will claim the bonus. Make sure to check for the bonus code, as if you don’t use it, you won’t be able to claim the bonus.
4. Play Your Favorite Casino Games
Once you have made your deposit and claimed your bonuses, you can go ahead and play all your favourite casino games. These can range from online blackjack, roulette, baccarat, slots or even live dealer casino games.
5. Take Your Winnings Out Of The Game
When you win and are ready to make a withdrawal, you can go to the banking methods and click on withdraw. There, you will select Ethereum and your withdrawal method of choice. Although most Ethereum casinos have a minimum withdrawal limit, you can withdraw your profits at any moment. Type in the amount you want to withdraw and hit submit.
Benefits of Ethereum Online Casinos
Ethereum casinos, like all other cryptocurrency casinos, provide several benefits and others that are exclusive to this particular cryptocurrency.
Another advantage of cryptos is that transactions are practically instantaneous. Payments vary depending on the coin and casino, but with Ethereum, they are always lightning quick. Deposit timings often range from a few minutes to a few hours, while withdrawal times typically range from one to 24 hours.
One of the most significant benefits of utilizing Ethereum is its anonymity. Due to banks and most other payment alternatives’ bureaucracy, making payments to and from online casinos is usually difficult. Because of the benefits of blockchain technology, most of this can be avoided with Ethereum. As a result, you need an email and no other identifying documents.
You’ll appreciate the fact that you don’t have to pay any fees for Ethereum transactions, no matter how long it takes. There is no need for fees because any single organization or corporation does not enable transactions. Naturally, this applies to both deposits and withdrawals, and because no one is facilitating the service, the casino isn’t required to collect any fees.
Licensing and Privacy
It is strongly advised that you choose a licensed and, if possible, controlled casino site to minimize your chances of becoming a victim of cyber fraud. However, one of the underlying characteristics of cryptocurrencies is privacy and anonymity, which is a big part of what makes them appealing to most people. As a result, it’s a good idea to look at the Ethereum casino’s procedures to protect your transaction information and assure anonymity.
Disadvantages Ethereum Casinos
Ethereum casinos, like the majority of crypto casinos, have relatively few drawbacks. The primary downside is that there aren’t as many in other online casinos. Because not every online casino is ready to use crypto as a payment mechanism. Finding a quality Ethereum casino is always more difficult than finding a fantastic online casino that accepts fiat currencies.
Apart from that, the only other downside is that the price of Ethereum, as the price of any other cryptocurrency, is extremely volatile. For some players, though, this is a benefit because it allows them to hold on to Ethers until the price is high enough to swap.
Irreversible transactions — Once confirmed and processed, an Ethereum transaction is irreversible, with funds lost or gained forever. This implies they cannot be reversed and must be addressed with extreme caution.
Risk factor – Despite its spotless track record, Ethereum is still a risky investment. Platforms are continually trying to add or remove it from their list of payment alternatives since the currencies have not reduced value volatility to a minimum.
Less available — Despite the numerous cryptocurrency additions, the online player pool still faces a scarcity of platform possibilities.
Who Accepts Ethereum As Payment
Below are some of the best Aussie casinos that accept Ethereum as a payment method. We have played at these casinos and can fully vouch for them. Make sure to claim the amazing Ethereum bonuses.