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What is an Ethereum casino?
Ethereum casinos are essentially virtual gaming establishments that accept Ether as a payment option. There are two kinds of Ethereum casinos accessible. On one side, there are online casinos that accept Ether as a payment mechanism; on the other, and there are monetary systems that use the Ethereum blockchain.
How does an Ethereum casino work?
Ethereum casinos are simply casinos that accept Ether (the Ethereum cryptocurrency) as a payment mechanism. As a result, they operate in the same manner as any other online casino.
On the other hand, certain online casinos have been developed solely to take just cryptocurrencies as payment methods, with a handful only accepting cryptocurrencies based on the Ethereum blockchain.
These online casinos have either completely incorporated the Ethereum blockchain into their platform's financial features. Or they have created a whole new coin that works on the Ethereum blockchain (as Ethereum was meant to do) and utilizes that proprietary currency to power all of its economic activities.
How to get started on an Ethereum casino?
1. Open a cryptocurrency wallet
The first step is self-explanatory. You must first create a cryptocurrency wallet. Fortunately, there are plenty of wallets on the market. Here are a few of the most popular options:
Simply go to one of these websites, submit your personal information, create an account, and you're done! Before purchasing Ether, the authentication procedure may necessitate a phone call. People on the other end of the phone want to make sure you're still alive.
2. Fill in your financial details
Regular currency must be deposited into your wallet via a bank or credit card. Your financing choice may be restricted (for example, Ethereum does not want you to buy truckloads of ETH with your credit card).
Once you've opened an account, remember to add your FIAT banking information so you may transfer your Bitcoin to your conventional bank account.
3. Purchase ETH casino
Following the creation of your wallet, you will be given several cryptocurrency alternatives. Then, all you have to do is look up Ether. Then, choose the quantity you wish to buy and finish the transaction when you've found it. After that, pat yourself on the back since you are now the proud owner of the ETH cryptocurrency!
4. Connect your crypto wallet to your ETH casino account
When you've found the Ethereum betting site you wish to use, go to the cashier area. There, you will discover the payment choices, which will include Ether. When you select that payment option, you will be routed to a website linking you to the casino using the Ethereum blockchain. You may choose how much you wish to deposit at the site here, and your account will be financed in a few clicks!
Ethereum casino games to play
While you will not be restricted to specific casino games when playing at your favorite Ethereum casinos, once you have some ETH in your possession, you will have access to games outside of the crypto casino.
CryptoKitties is an innovative game that allows users to create their own unique digital pet. You may also purchase, sell, and trade other digital pets with CryptoKitties!
It was one of the first pieces of software to leverage the blockchain as entertainment, and it was created entirely on the Ethereum blockchain platform.
You'll also discover games like Crash Gambling, which is quite popular among cryptocurrency gamers. Players attempt to predict when the optimum moment is to cash out on an expanding multiplier before it 'crashes.'
However, Ethereum gambling is not restricted to a few select games.
Several full-fledged casinos with a diverse game selection accept ETH as a payment method. This implies that Ethereum casino games might be everything you're familiar with from the online gambling industry, such as:
- Slot machines.
- Live casino games such as blackjack and roulette are available.
- Tabletop games.
- Betting on sports.
You may play Ethereum slots and live dealer games at any of the greatest crypto-gambling sites!Of course, if you're interested in Ethereum gambling on sports betting or ETH slots, you'd look for a casino site that provides that service. This is where casino reviews like ours come in.
Ethereum casino bonuses: free spins, welcome bonus, deposit bonus
Top Ethereum casinos, like traditional online casinos, will include a welcome bonus, deposit bonuses, and other benefits in addition to all of your favorite casino games.
In addition, most cryptocurrency casinos feature a higher average RTP for the gaming site. Payment options such as ETH and other cryptocurrencies offer lower processing fees for the casino with which they are affiliated.
This implies that deposits and withdrawals are less expensive for the casino to process. As a result, casinos can afford to be a little more generous with their payouts on average. A win-win situation for both gamers and casinos!
Ethereum casinos and security
Is Ethereum safe? Ethereum, cryptocurrency, and other payment systems are not immune to problems.
Of course, we urge you to bet sensibly - not just by sticking to your limitations but also by sticking to casinos that a respectable gaming regulator appropriately regulates.
This includes, for example, the Malta Gaming Authority and the Curaçao Government.
Is it possible to hack Ethereum?
Although you may have heard of a few high-profile cryptocurrency hacks, they are often performed on exchanges rather than the coin itself.
Pros and Cons of an Ethereum casino
Everything you do with the Ethereum blockchain is totally protected, even utilizing Ether as a payment option at an online gambling site. That is, your personal information can and will not be compromised. Additionally, casino sites will not have access to any of your financial information, which is a blessing in and of itself.
Unlike most other payment systems, transactions on the Ethereum network are completed faster. For example, deposit money quicker, gamble money more quickly, and withdraw money faster.
Because of the digital nature of the transactions, Ether payments are significantly less expensive to execute, if at all. This ensures that you keep even more of your gains later on.
The nature of ETH significantly reduces the potential for fraud. To put it another way, gamers who use this cryptocurrency are more likely to be awarded more considerable betting restrictions, including deposit and withdrawal limitations.
- Player support
Ethereum casino players get access to a great player support structure that is often available around the clock. This customer service is provided to aid gamblers with any technical or general questions they may have and assist gamers with any problems they may have on the site.
- A one-of-a-kind selection of casino games
One of the primary reasons Ethereum casinos are so popular among gamblers is their unique selection of casino games to accommodate all sorts of gamers.
BC.Game, for example, provides bespoke casino games designed just for the platform. Unfortunately, this implies that gamers are unlikely to discover this assortment of games in typical online casinos, let alone cryptocurrency casinos.
For an ideal gaming experience, ETH casinos often contain games with great visuals and provide remarkable processing speeds.
In sharp contrast to traditional gambling platforms, Ethereum casinos provide their customers with extraordinary transparency.
House margins and Return to Player percentages are often hidden at regular online casinos but publicly visible at their cryptocurrency counterparts. The latter provides players with incredible house edges on their games, all built on Ethereum smart contracts and are provably fair.
When a crypto gaming website gives players incredible house margins as low as 1%, it demonstrates the fairness, dependability, and transparency they enjoy with their customers.
Compared to typical online casinos, Ethereum casinos also have substantially higher Return to Player percentages. Since of this, players are driven to crypto platforms because they may be inevitable
Ethereum prices are on a roller coaster due to the fast expansion of the crypto sector. To put it another way, even if you spend your time gambling with Ether at a poker table, you will still be gambling on the currency's value when you purchase and sell it on the open market.
- Site security
Remember that only some websites that accept Ether as a payment method have a gaming license. This might result in a chain reaction of security vulnerabilities. The gaming site must still authorise payments if your bitcoin transfers go well. You are more likely to encounter problems if you mix with unlicensed rogue casinos.
Even though the online gaming business was one of the first to embrace cryptocurrencies, most sites still refuse to accept Ether as a payment mechanism. So yes, Ether will continue to rise, but you'll need to do some research and read casino reviews to find out where you can spend it without danger.
What to look for in a provably fair Ethereum casino?
When looking for an ETH casino, check whether they have the following qualities. These provide a safer and more fun gaming experience in the grand scheme.
1. Transactions are processed quickly
Transaction processing delays in typical internet casinos might last five days. However, web wallets have raised the stakes, with up to two days of processing times.
Crypto wallets have further improved on this, with cryptocurrencies such as Bitcoin requiring up to an hour. Transactions on Ethereum, on the other hand, have significantly raised the bar, with processing times down to a matter of minutes.
Ethereum processing also has substantially shorter waiting times for transaction acceptance. While waiting for transactions to be approved, gamblers might become agitated, and their attitude can impact their games and strategy. Shorter processing times are thus welcomed with Ethereum gambling since players may hit the floor practically instantaneously
2. An exceptionally secure platform
Both the casino and its players place a premium on safety and security. As a result, top-rated crypto casinos have invested in the most rigorous security methods to secure the house and its customers.
With their strong security measures, Ethereum casinos increase their trust in the gambling world, distinguishing them from traditional online gambling platforms. TrustDice, for example, uses SSL encryption technology with watertight security mechanisms. It also features two-factor authentication and hash algorithms that can track all casino transactions.
Also, keep an eye out for houses holding players' cash in cold wallets, which are safe external vaults. Cold wallets are a different platform from the casino, making it far more difficult for would-be hackers to infiltrate.
3. A distinct selection of ETH casino games
Gamblers go to ETH casinos because they provide a unique selection of casino games to suit all sorts of personalities. As previously said, BC.Game produces its own games, meaning gamblers enjoy a different experience than they would on any other website.
Players get a great gambling experience since these in-house games have fast processing rates.
Compared to traditional online gaming, Ethereum gambling offers exceptional levels of transparency. The Return to Player percentages and house edges, which are freely disclosed for each game, are one example of clarity on the latter. As a result, top-rated casinos usually have substantially better odds.
Furthermore, games are created with smart contracts that are shown to be fair. Before playing any game on the internet, players are well informed of their expectations.
5. Lower transaction fees
Traditional online casino gamblers have become resilient to the high banking expenses associated with conventional banking methods. High transaction fees and chargebacks are examples of these expenses.
Ethereum gamblers, on the other hand, profit from low costs. This is because Crypto transaction fees are incredibly cheap, if at all. This implies that cryptocurrency players will have more money to spend on their preferred casino games.
Savings from lower banking costs are typically passed on to players in the form of competitive incentives and promotions.
When participants are ready to withdraw their ETH, there is a modest processing charge. This is usually roughly 0.1% of the withdrawal amount and is done as a two-way fee.
Crypto gamblers are not required to divulge personal information such as their identification, bank accounts, or other financial information. This anonymity makes it impossible for hackers to exploit the platform and allows gamers to enjoy their gaming experience without disclosing important information.
Because participants are not required to divulge their financial transaction history, all transactions are incredibly safe and nearly untraceable.
As a top-rated casino that offers Ethereum gaming, we provide our players with the following privacy guidelines:
- Players must not provide any sensitive information about their Ethereum wallets. This ensures that their transactions cannot be traced back to them.
- Players should keep their Ether and not exchange it for regular money. This might pave the way for a breach that reveals their identity.
- It is advised to create new wallet addresses for each transaction. This removes any paper trail that might be traced back to that player.
7. Accessibility across several devices
While traditional online casinos are often accessed via a laptop or desktop, most Ethereum casinos provide access via desktops, laptops, tablets, and Android or iOS devices.