Cryptocurrencies are gaining popularity in casinos, mostly due to being one of the most reliable forms of payment and investment for players. As a result of the huge traction surrounding currencies like Bitcoin, Ethereum casino providers have begun sprouting up left, right, and center. But while they accept this hot and trusted currency, not all of them are necessarily a good choice when it comes to the other services they provide, i.e., games, bonuses, payout speed.
This guide will teach you everything you need to know about this highly sought-after cryptocurrency, as well as what makes a decent Ethereum casino. We’ll also discuss what to look for when picking the ideal Ethereum casino, regardless of whether you're interested in getting your hands on this cryptocurrency, or you already have a wallet that's fully loaded with Ethereum and are looking for a top site to spend them on your favorite casino games.
What is the purpose of Ethereum?
Launched in 2015, Ethereum is a decentralized network built on blockchain technology. This platform differs from traditional cryptocurrencies due to smart contracts. These are applications that were created directly on the blockchain that make it possible to manage information and carry out specific tasks. There is a public address for these smart contracts. This address is visible to all; thus, Ether can be received and stored by a smart contract. For example, you may use it to instantly send a monthly payment that is overdue or manage monthly subscriptions. Each time, the payment's legitimacy is examined, and the sender's address is therefore recorded and marked as active. This is only one of many of Ethereum's great features, though. Naturally, Ethereum's function as a cryptocurrency is the main focus, and unlike conventional FIAT currencies, cryptocurrencies are entirely decentralized digital payment methods. This means that no intermediary entity, such as a bank or other financial institution, has any involvement in a transaction, which means no processing charges or commission fees are deducted from payments. The characteristics of all cryptocurrencies are visibly influenced by this factor, and as a result, their fundamental benefits—high transaction speeds and anonymity—are what make them so enticing.
Ethereum at Online Casinos
Ethereum is undoubtedly one of the biggest cryptocurrencies in the world that’s used to make online payments, including at crypto gambling sites. Some of the advantages of using Ethereum to make your deposits at casinos include:
- Transactions processed instantly
- Super-fast withdrawal times
- No banks or third parties involved
- Not location bound
- Anonymous and secure
While you can make ETH anonymously at the majority of online merchants, when it comes to online casinos, it’s worth bearing in mind that the casino still has to verify a player’s identity before they can legally cash out. This prevents fraud and money laundering—so, realistically, this actually works in your favor and adds an extra layer of protection to your account.
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How to Use Ethereum at a Casino
Now onto the good stuff—if you’ve already got some ETH in your digital wallet and want to know how you can use it to play your favorite games at online casinos, here are the steps for doing so. Do note that the below is just a guide, and the exact steps to depositing with Ethereum will naturally vary from casino to casino, but it’s more or less as follows:
- Navigate the Cashier or banking section of your chosen online casino (if you do not have a casino account, you’ll first need to sign up before doing this)
- Choose Ethereum as your banking method
- Enter your desired deposit amount
- The casino will generate a one-time ETH address for you to send the money to
- Copy this address into your digital wallet with the amount you want to send
- The funds should show up in your account and be ready to use instantly
Tip: It’s best to select an online casino that accepts both US dollars as well as cryptocurrencies, so you have more flexibility and can choose to make payments in a FIAT currency should you need to.
There are some online gambling sites that will let you pay in ETH via Skrill or Neteller. In this case, your Ethereum may be converted into dollars before it appears in your account.
Pros and Cons of Using Ethereum at Online Casinos
Even though many online casinos now let you bank with ETH, like anything in life, there are still pros and cons for doing so. Here are some of the primary things you should be aware of if you plan to use Ethereum as your payment method at accepted gambling sites:
Pros:
- Secure, fast transactions
- Faster than Bitcoin
- Exclusive ETH bonuses
- No banks involved
- Anonymous source of funding
- No banking fees or commission
Cons:
- Not regulated
- Not accepted at all casinos
Tips for Using Ethereum at Casinos
When it comes to withdrawing your winnings, it's good to check whether your chosen online casino will convert your ETH into dollars, or send it back to you as it is. The reason why it’s good to find out about this beforehand is because of the exchange rates between ETH and FIAT currencies. They can fluctuate quite substantially depending on the market; therefore, you might get less of a return if the casino chooses to process your winnings in FIAT.
Even though the casino will never charge you for making a deposit, there may be fees associated with transferring payments to and from your wallet. This is another important tip to remember as exchanges such as Coinbase tend to charge a miner’s fee if you are sending cryptocurrency payments outside of their own network. These fees may be quite high, and they can all add up quickly, which is why it’s important to check this information beforehand. The good news is that there are plenty of other cryptowallets that have Visa cards, allowing you to make crypto payments more easily.
General Info About Ethereum
Out of all the cryptocurrencies out there currently, Ethereum is definitely one of the most established. While it’s a younger cryptocurrency than Bitcoin, it’s ranked as one of the best among digital assets for investors because it implements smart contracts. As is the case with Bitcoin, Ethereum also operates on a decentralized, open-source blockchain. The big difference here, however, is that the functionality of the smart contract allows the buyer and the seller to self-execute their own terms. This means that users can complete exchanges with each other quickly through the Decentralized Autonomous Organizations (DAO), which also negates the need to involve a third party or mediator; thus, no commission or extra fees need to be paid.
Smart contracts also makes the entire process faster and more efficient than traditional banking systems, and it has already changed the way the world is doing business as a result! As Bitcoin does not have smart contracts, many people consider Ethereum a better and more secure option.
Signing Up for An Ethereum Casino
Signing up with an Ethereum gambling site is very different from registering an account with a traditional online casino. Conventional gambling sites normally require you to enter a lot of personal information to create a new account, such as your full name, address, date of birth, phone number, etc. At Ethereum casinos, you do not need to provide any of these details— it’s enough to enter the crypto address of your digital wallet, and then the registration is complete. The only personal data you are required to give to an Ethereum casino is your email address, as this prevents multiple accounts from being created.
Registering with an Ethereum casino is really quick and easy compared to the latter, and as the payments are also incredibly fast, players are able to start playing their favorite games almost immediately after they’ve signed up.
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Guide to Registering with Our Top Recommended Sites
If you want to get into Ethereum casino gambling, you can count on all of our top recommended sites to give you the very best gambling experience, complete with fast withdrawals, high cash-out limits, and the best ETH bonuses for primping your bankroll. Below are the exact steps for creating an account with any one of our highest-ranked Ethereum casinos:
Step 1: Create your new player account
Take a look through our shortlist of online casinos, then hit the Sign Up button. Select ETH as your preferred payment method, then enter your crypto wallet address along with a unique password. You’ll then be sent an email with an activation link that you will need to click to verify and activate your account.
Step 2: Make your first deposit
Once your account is up and running, you can then use your wallet to either transfer cryptocurrencies directly, or purchase your coins directly from an exchange like Binance or Coinbase to top up your bankroll and make your first deposit. Don’t forget to redeem your welcome bonus at this stage!
Step 3: Start playing
As soon as you’ve made your initial deposit and the fund appears in your bankroll, take your pick from any game in the casino lobby, then start playing!
What games are offered at an Ethereum casino?
The game portfolios offered at most Ethereum casinos are no different from the games you’ll find at traditional online casinos. As Ethereum is a trusted cryptocurrency, gaming providers understand the advantages of using this method of payment and can rely on the fact that players can fund their accounts—so long as the casino in question is also trustworthy and reliable. As a result, you can indulge in the thrills of playing your favorite slots and table games with Ether just as you would if you wanted to wager in a FIAT currency. Popular, high-quality slots include games like “Book of Dead” or “Mermaid’s Pearls” as well as classic table games like blackjack, roulette, craps, baccarat, and video poker. Almost all providers offer crypto versions of games like roulette and blackjack as standard.
Can you get bonuses for gambling at Ethereum casinos?
Just like traditional online casinos, Ethereum and crypto casinos also offer lucrative bonus deals that can be used on a whole host of exciting games. These bonuses range from no deposit bonuses and match bonuses to reload bonuses and free spins. Some Ethereum casinos also offer bonuses and other rewards for slot tournaments and as part of exclusive competitions where you can earn crypto. If you’re looking to play games at a standard online casino that doesn’t accept Ethereum, then naturally, you will not be able to claim Ethereum bonuses.
The most common bonus offered by Ethereum casinos is a deposit bonus, which increases the player’s initial capital greatly. The casino can offer this as a 100% deposit bonus that doubles the player’s deposit, i.e., you deposit 2 ethers, and the casino gives you 4, or they can offer players a deposit bonus for each of their first five deposits.
So, as you can now see, players who deposit in Ethereum or other cryptocurrencies can expect to earn just as good rewards, if not better than if they were to place their deposits in traditional FIAT currencies because they can still get great bonuses without having to account for deductions for payment fees and commissions from third parties.
Ethereum Casinos for Mobile
These days, players want the flexibility of being able to gamble and play their favorite games on the go. This is where mobile casinos come into play, and you’ll find that the majority of Ethereum casinos have a mobile casino or special app that is fully optimized to work with your smart device—all you need to get started is some Ether in your bankroll and a steady internet connection!
Game and software providers are also aware of how popular mobile casino gaming is becoming, hence why they have converted their games to work with the latest HTML5 technology and made it so the games can be accessed from Androids, iOS devices, and tablets, all of which allow the user to play their favorite games in high-definition complete with tap and swipe functions that they can use to spin the reels, roll a set of dice, or draw a card.
All of our top-recommended Ethereum gambling sites offer users the option to play casino games on mobile, and using ETH to play this way offers instant transactions along with a seamless and smooth mobile experience.
Ethereum FAQ
We get many questions about how Ethereum casinos work and what to look out for when choosing one to sign up with. So to summarise and make it easier, we’ve answered some of the most commonly asked questions below.
Where can I get Ethereum?
Ethereum is the world’s second-largest cryptocurrency, which means you can easily purchase it from popular crypto exchanges such as Coinbase, Binance, Bitpanda, and Kraken. When you purchase from any of these sites, you’ll be assigned a personal digital wallet that you can use to repurchase crypto and use for any further transactions. While you can store your crypto in these exchange wallets for a long time, for security reasons, we still recommend transferring your funds to a personal wallet.
Do crypto casinos offer Ethereum bonuses?
Every Ethereum gambling site on our shortlist offers bonuses for depositing in Ether and Bitcoin as well as other crypto and typical FIAT currencies.
El Royale Casino is currently offering players a 225% Welcome Bonus with 20 Free Spins when they make a deposit of $20 in ETH. The more players deposit, the bigger the bonus! Slots.lv also offers first-time players an amazing deal worth up to $7,500 when they deposit in crypto.
In which countries am I allowed to trade Ethereum?
Generally, there are only a few countries that forbid the trading of cryptocurrencies. As of November 2021, the countries that prohibit crypto are Algeria, China, Bolivia, Egypt, Nepal, and Morrocco. Germany and several other countries are trying to adjust their capital markets so that crypto will be more widely accepted; however, government policies surrounding crypto are still very much a grey area, hence why there isn’t any official legal framework in place for trading with them yet. Before you purchase Ethereum or any other type of cryptocurrency, it’s best to check the regulations for the countries you plan to trade them in first. If they are banned in the country you want to carry out transactions in, this could land you in big trouble and cause you significant problems.
How much is ETH currently worth?
Cryptocurrencies are extremely volatile assets, which is why their value tends to fluctuate almost every week. This is because of their decentralized nature and the fact they aren’t regulated by an official financial body.
You’ve probably seen news reports about big market movers like Elon Musk, who only have to post a controversial tweet for the value of all coins to drop by as much as 30% in a day. This influence over the supply and demand of crypto coins is what makes them risky, which is why anyone who is just starting out with crypto or looking to get into the world of crypto trading/gambling, should be fully aware of the setbacks that can occur in these markets and actually cause them to lose money. While Bitcoin is probably the most volatile coin out there at the moment, the good news is that Ethereum is one of the most stable cryptocurrencies due to smart contracts.
How do I choose a legal and reputable Ethereum casino?
If you’re looking to register with an Ethereum casino, the first thing you’ll want to do is make sure it is licensed and recognized by an official gambling authorty. You should be able to find this information on the site easily, but if in doubt, contact the casino or check some reviews of the site from other players. That way, you’ll be able to see whether it is a legit entity and also establish whether the casino has already been blacklisted. Alternatively, you can take your pick from any of the casinos we recommend throughout this guide, knowing that each one has been tested and reviewed for its legitimacy, efficiency, and game and bonus offerings.