Online Casinos Accepting Ethereum
Each day more and more South Africans turn to cryptocurrencies as their form of investment, some turn to Bitcoin whereas others use Ethereum.
Ethereum is one of the biggest names in the crypto game currently, standing up there with Bitcoin, Bitcoin Cash and Ripple.
As with every other cryptocurrency available to trade on the market, Ethereum has the power to either make your account or break it. It’s all about investing wisely and making important decisions.
Luckily there are a few online casinos out there that accept this crypto for not only deposits but withdrawals as well. With more and more mainstream use and acceptance the crypto will grow in legitimacy and hopefully in value as well.
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Benefits Of Using Ethereum
- Potential to see massive growth on investments
- Most online wallets trade Ethereum
- Crypto transactions are fast and highly secure
- Great way to use online casinos without involving your bank directly
Any Disadvantages?
The main disadvantage with Ethereum, like most cryptocurrencies, is their potential to crash. There needs to be a constant voice reminding you that at any moment the market could drop and you could lose most, if not all, of the value you put in to begin with. If you’re constantly aware of this and you proceed with caution, you should be okay.
How To Make A Deposit Using Ethereum At An Online Casino
If you’re worried that making a deposit using the crypto is going to be overly complicated, you can rest easy knowing that it can be done in three easy steps. Starting off you need to make sure that you have made an account with the casino you wish to make a deposit with. Once you’ve done that and it has been verified you can start with step 1.
Step 1 – Selecting Ethereum
When you wish to make a deposit at your online casino of choice head on over to the cashier tab and click deposit. After you’ve done that there should be a list of banking options presented to you, select Ethereum and move on to the next step.
Step 2 – Entering / Selecting Your Amount
After you’ve chosen your deposit method you’ll be asked to enter in the amount you wish to deposit or select one of the predetermined options. Note that there are minimum and maximum deposit limits.
Step 3 – Confirmation
When you’re happy with the amount you wish to deposit click on the button to continue. You should then be asked to provide the appropriate information for your crypto wallet. When you’re ready to proceed follow the onscreen prompts.
And just like that you’ll be ready to play your favourite casino games in no time.
How To Cashout Your Funds Using Ethereum
When you go to withdraw your winnings for the first time from your online casino of choice you might be asked to supply some verification documentation. These documents could include anything from I.D. or passport photocopies to selfies with the current date written down or anything in between.
Step 1 – Selecting Ethereum
Much like with the deposits, to make a withdrawal you need to head over to the cashier and select withdraw. Alternatively you could go straight there from your account section. Once there, scroll through the list of options until you find Ethereum.
Step 2 – Entering / Selecting Your Amount
Once again you’ll be asked to enter in or select an amount except this time it’s how much you wish to withdraw from your account. Keep in mind that there are minimum and maximum amounts that you can withdraw in a single transaction.
Step 3 – Confirmation
You’ll be asked once again to provide your wallet specific details. Once you’ve done that and you have followed the onscreen prompts your transaction shouldn’t take more than a few hours to process. Even if you’re using a local casino.
History Of Ethereum
Ethereum launched back in July of 2015 to a world that was still coming to grips with the idea of cryptocurrencies. The initial supply of coins for this crypto was 72 million, though it might sound like a lot it is still a limited supply, this limited supply is what drives the value.
Currently, a set of upgrades is being worked on that will improve overall transactional power. These upgrades are being called Ethereum 2.0. It’s not known how these upgrades will affect the market value of the crypto but it’s sure to cause some sort of buzz.
As it stands right now, Ethereum is the second biggest crypto on the market and is the most actively used blockchain.
Security
Like other cryptos, Ethereum uses blockchain technology in order to process transactions. Blockchains are one of the most secure forms of transactional security around, while something is being processed there is no way anything can be done to tamper with it.
Where you have to be cautious is when using your desired cryptocurrency wallet. Each wallet is different so you need to make sure that the security of the one you’re using is up to par.
Ethereum FAQ’s
Are cryptocurrencies legitimate?
They are, as more and more businesses start using cryptos the more viable they will become.
How long should I keep winnings in my crypto wallet?
That is a decision you need to make based on what the markets are telling you.
Is Ethereum a viable deposit and withdrawal method for online casinos?
It is, though you might have some trouble finding casinos that accept the currency.
Is Ethereum safe to use?
Yes, Ethereum is safe to use. You need to be cautious as to which wallet you use to make your transactions.
Is Ethereum stronger than Bitcoin?
Not currently, though the market value of both is constantly shifting.