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Crypto gaming: Pros of playing at Ethereum casinos

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Crypto gaming: Pros of playing at Ethereum casinos

Crypto gaming: Pros of playing at Ethereum casinos

Mon Aug 01 2022 00:42:00 GMT+0000 (Coordinated Universal Time)

Among the first industries to welcome cryptocurrency with open arms was the gambling industry. In recent years, the partnership between the two industries saw its boom as an influx of players began joining online casinos in search of an alternative to brick-and-mortar casinos

Although Bitcoin remains at the forefront of the crypto gaming industry, Ethereum casinos are quickly becoming a preferred payment method due to the advantages it provides to players. 

Are you curious to know more about how Ethereum is innovating your casino experience? Learn more about it here at Bitcasino! 

What is an Ethereum casino?

In essence, Ethereum casinos are virtual gambling spaces that accept Ether as a payment method. There are two types of Ethereum casinos available out there. On one side are the online casinos that accept Ether as a payment method while the other are those with a monetary system that operates on the Ethereum blockchain. 

DeFi gambling in Ethereum’s Blockchain

When talking about crypto casinos, it is important to talk about DeFi which stands for Decentralised Finance. Its goal is to establish a financial system free from flaws of the traditional banking system such as third-party interference and expensive charges. 

Through DeFi, which can be accessed through the Ethereum blockchain, users can open their accounts anonymously within minutes and gain access to the same banking functions you would receive at a traditional bank such as saving, investing, and taking out loans. The key difference, aside from it all being online, is that users are allowed to have full control over their funds.

When it comes to gambling, DeFi provides a system of fairness, minimises the possibility of fraud, and eliminates the risk of gameplay manipulation. There are different types of gambling in DeFi, including sports betting, poker, and slot games.

Aside from allowing users to earn crypto from gaming, DeFi offers benefits specific to casino games:

  • Classic casino games are known commonly to have a house edge, which means that the mathematical algorithms are set up to give the casino an advantage. Decentralised casino games, particularly poker in this instance, distribute profits fairly among participants.
  • Since DeFi sports betting is facilitated by blockchain technology, there is no longer a need for third-party bookmakers. Instead, smart contracts can be used to automatically validate results and distribute the payment to winners.

Advantages of playing at an Ethereum casino

Considering Bitcoin is largely credited for the rise of cryptocurrencies, it’s no wonder it's one of the most popular cryptos out there. However, several altcoins which followed provide services beyond what Bitcoin offers. Prime among those is Ethereum, considered to be the second most used token in the world. 

When it comes to online casinos, the rankings are pretty much the same. Having said that, more and more people are turning to Ethereum as a payment method as opposed to traditional methods and other cryptos due to its many benefits, such as:

Privacy and security

With alarming news of data mining resulting in online scams and other fraudulent activities, privacy and security come as the biggest benefits that Ethereum offers to its users. With the recent decision to switch to a Proof-of-stake mechanism of validating transactions which is more secure and less energy-intensive. 

Additionally, while most online casinos need private information to abide by legal and regulatory requirements, the very nature of Ethereum minimises any additional detail you have to provide compared to other non-crypto payment methods.

Significantly lower transaction fees

Traditional banking requires additional processing fees for every transaction which usually varies in amount. It is often too high to be worth it when playing games. One of the benefits of using Ethereum is that you don’t have to worry about paying expensive transaction charges when depositing and withdrawing funds to your account.   

Quicker transaction speed

Aside from the cost, the speed of the transaction is also beneficial when using Ethereum. Withdrawal and deposits using traditional currency can often take days because it goes through banks and other financial institutions for processing. 

When compared with other cryptos, Ethereum is known to offer quicker transactions. Some cryptos take minutes up to hours during the verification process. Whereas Ethereum under a few seconds to verify transactions because of the nature of its code.

MetaMask and smart contracts

There’s a lot to learn about MetaMask, which is one of the most influential cryptocurrency wallets out there. 

Through MetaMask, players can store their ETH coins without the need to deposit money to a specific casino they’re playing at. Instead, through the smart contracts accessed via MetaMask, transactions are done and recorded automatically.

In online sites like Bitcasino, users are provided with the option to connect to MetaMask on the log-in/sign-up page where they can execute their transactions. It is supported by browsers such as Brave, Firefox, and Chrome, which allows users to access it through a browser extension.


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Top Ethereum casinos for you to play at

There are plenty of online casinos to choose from but not all of them support crypto as a payment method. Here are some of the most popular online casinos for you to play using ETH:

Bitcasino


Largely credited for being the first online casino to accept cryptocurrency, Bitcasino is a leading site to offer nearly 3,000 games for players to enjoy. 

Additionally, the site offers several different cryptocurrencies to use for your transactions such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Litecoin (LTC), Tron (TRX), Ripple (XRP), Tether (USDT), and Dogecoin (DOGE). 

For new players that don’t own any cryptocurrency, Bitcasino also provides a seamless process to connect you to several crypto exchange providers where you can buy your crypto coins. 

Among the games offered at the online casino are online slots, roulette, and live casino games including live blackjack and live baccarat. All of it comes from the best game providers in the industry including Evolution, Ezugi, Microgaming, Quickspin and many more!

Livecasino.io


Another great crypto casino is Livecasino.io, offering incredible live casino titles that provide a middle ground between online and brick-and-mortar casinos. They offer more than 150 live casino games including roulette, baccarat, blackjack and more.

For those not ready to dive into live dealer games, they also offer games such as slots from the best developers on the market. 

When it comes to transaction methods, they also boast a diverse range of options for players to choose from. Considering Livecasino.io is among the first crypto casinos to support crypto, they offer deposits and withdrawals using Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Tether (USDT), Litecoin (LTC), and Tron (TRX).

Sportsbet.io


Although made primarily for sports betting, Sportsbet.io also provides a plethora of casino games for players to enjoy. The games include slots, table games, and many others. They also offer live casino games such as roulette, blackjack, and baccarat. 

As for deposit and withdrawal options, Sportsbet.io offers many different options. They proudly support payments using Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT), Tron (TRX), Ripple (XRP), and Allsportscoin (SOC).

How to use Ethereum at Bitcasino

Bitcasino, having been the first online casino to allow crypto as a payment method, supports ETH as a payment method. Here are the easy steps to follow to make a deposit using ETH: 

  1. To start, simply login to your account at Bitcasino. 
  2.  At the top right of the screen, you will see an orange button with the word ‘deposit’ on it. Click the button and you will be redirected to the next process.
  3. Several tabs will appear on the page. Go to the Funds section where you will see different cryptocurrencies to choose from. Afterwards, choose ETH to use Ethereum as a payment method.
  4. To enable the deposit and withdrawal option for the specific cryptocurrency you intend to use, flip the button located on the rightmost portion of the option. Once it is active, you can then proceed to make a deposit.
  5. Another menu option will pop up that shows the unique account link.  Copy it and paste it to the address book on your e-wallet or scan the QR code provided using the e-wallet app.
  6. You will be notified once the transaction has been completed.

To withdraw funds, you can follow the first 2 steps above. After that, the next steps are as follows:

  1. Once you have chosen the cryptocurrency you wish to withdraw, indicate the amount in the specified area.
  2. Once the amount is listed, enter your wallet address.
  3. Click the withdraw button.
  4. Continue to complete the steps to process your transaction according to the cryptocurrency you selected.

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Should you try playing at Ethereum casinos?

Playing at Ethereum casinos is not only efficient but also offers several benefits including quicker transactions with lower fees, data security, and higher welcome bonuses.

Although there are drawbacks when using Ethereum as a payment method, they become almost inconsequential when you are informed of the risks involved and once you find the right casino that offers significant advantages.

Ethereum Casinos: Frequently Asked Questions

Is it secure to use Ethereum at Bitcasino?

Definitely. ETH is highly secured by the Ethereum blockchain, which works to verify and secure every transaction to make it near impossible for any third-party interference. Additionally, Bitcasino itself, owned by Moon Technologies B.V., is licensed and regulated by the Government of Curacao.  

How long do Ethereum transactions take at Bitcasino?

Both deposits and withdrawals are processed instantly at Bitcasino. Any delays are usually dependent on the e-wallet or coin exchange being used and the number of coins being transferred.

After Bitcoin has finished processing the transaction, the confirmation process could take up to 10 minutes on average. This is because every transaction needs to be verified on the blockchain and a specific number of verifications is required, usually depending on the amount you intend to transfer before the process is completed.

Can other cryptocurrencies be used at an Ethereum Casino?

Yes. Typically, online casinos that support ETH also support several other cryptocurrencies. At Bitcasino, you can make transactions using Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Litecoin (LTC), Tron (TRX), Ripple (XRP), Tether (USDT), and Dogecoin (DOGE). 

Additionally, there is an option to add your preferred cryptocurrency. This can be done with just a few steps.

  1. Log in to your account.
  2. Click the deposit button on the top right section of the page.
  3. Head to the Funds tab where you will see a list of cryptocurrencies available
  4. If you don’t find your preferred currency, click the ‘Add new currency’ option to select which currency you want to use.

Words by: Cathrene Joseph


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Crypto gaming: Pros of playing at Ethereum casinos