In this article, we explain all the ins-and-outs of gambling online with the world’s second most popular cryptocurrency, Ethereum (ETH). Ethereum, also known as ether, has several advantages over gambling with Bitcoin (BTC), which can save players both time and money, helping them to get the most out of their crypto casino experience.
With confirmation times under 30 seconds and comparatively cheap transaction fees, ETH is a great option for crypto casino gambling. It is currently the second most widely accepted coin at crypto casinos after BTC, of course.
An Ethereum Casino is an online gambling website that accepts ETH as a method of deposit for playing its games. This will allow both deposits and withdrawals in the form of ETH, providing its players with an ETH deposit address which is used to send funds to the casino. Likewise, players will need to provide the casino with an ETH address when performing a withdrawal from their account.
Some casinos will have their games in denominations of ETH, while some will use “credits” or the dollar value per spin/hand/roll/etc. Some offer a hybrid of the two, depending on the default denomination used by the casino game software provider.
Ethereum is a terrific coin for gambling as its confirmation times are fast and its transaction fees are small. Ethereum was launched in 2015, and in the last 5 years, it has established itself as one of the most popular and commonly accepted cryptocurrencies around, consistently ranking #2 by coin market cap size.
The average block time for Ethereum is around 14 seconds, which means it is lightning fast compared to Bitcoin’s 10 minute block times. This means that an ETH deposit to a crypto casino will arrive in a player’s account balance much faster than if they were depositing BTC. The median transaction fee for ETH is about $0.20, which also makes it generally cheaper to send than BTC.
Another good reason to gamble with Ethereum is that it has great liquidity. This means it has an extremely high trading volume compared to pretty much all other altcoins and can be found on every top tier cryptocurrency exchange.
Not only can ETH easily be purchased, but it can usually be purchased at a competitive price, as well. Possibly one of the only downsides of gambling with ETH is that it tends to be more volatile than BTC; however, this can also work in a player’s favor as well. If BTC goes down, ETH tends to go down even more. Conversely, when BTC goes up, ETH tends to go up even more.
Pretty much any game that could be found at a regular online casino will also be available at an Ethereum casino, and most games will allow players to use ETH. This includes slots, jackpots, live casino, and table games. At Winz, players have the option of filtering games by currency, including the one to which their account is currently set.
Under each category of games, there is a filter that is by default set to “All Currencies.” Simply click on the filter and change the setting to “My Wallet” and that will filter the games displayed to that of those available for ETH if the player account contains a balance in Ethereum. The only games specifically not available to ETH players at Winz are those located in the “€/$/₹ ONLY” category.
Like with Bitcoin bonuses, Ethereum bonuses come in the form of a match bonus (upon initial deposit or subsequent deposits), free spins, tournaments, and reload bonuses. They are offered to provide players with a little extra to enhance their playing experience. If a casino supports Ethereum but doesn’t list its bonus amount specifically in terms of ETH, they will usually offer ETH players bonuses on the same terms that they would offer BTC or fiat bonuses.
For those who are playing with ETH, Winz has some fantastic bonuses that are calculated in terms of ETH. For example, the first deposit bonus will give players an extra 100% of their initial deposit all the way up to 45 ETH. The second deposit bonus gives players a 50% bonus up to 90 ETH (along with 100 free spins), and the third deposit bonus is good for a 50% bonus up to 135 ETH (along with 200 free spins). Altogether, that’s a potential bonus of 270 ETH + 300 free spins.
In addition to accepting ETH as a method of deposit, there are several factors required in order to provide a perfect Ethereum Casino experience. For one, the casino has to have a large selection of games. This includes having a vast selection of the newest and biggest slots, a wide selection of table games with multiple versions of favorites like Blackjack and Roulette, and also having a decent assortment of live games in which ETH can be used to place bets.
The perfect Ethereum Casino should also be able to process deposits and cashout requests quickly, have a readily available support team that is willing to answer questions from its customers and help resolve their issues on a 24/7 basis, and offer a decent selection of fair bonuses. In addition, it’s great if the casino has a mobile-friendly version for those who want to play on the go. Being able to navigate the site with ease and quickly find the game
Probably the most important component of a good ETH Casino is that it has a great level of reputation, security, and trust from the community. A crypto casino can accept ETH as a method of payment and have all of the factors listed above, but if it is not trustworthy, there is no reason to deposit coins there.
This is an aspect where Winz really excels as its owners have several years of experience in running highly reputable crypto casinos. They know a lot about security and employing good business practices, placing them among the best in the industry at what they do.
As a platform coin, Ethereum is more than just a cryptocurrency and hosts an entire ecosystem of tokens and dApps, but it also works quite well as a currency – especially when it comes to playing at crypto casinos. As mentioned earlier, it is fast to confirm, cheap to send, and easy to buy – all factors that make it a great choice for crypto gambling.
There are over 100 cryptocurrency exchanges at which ETH can be bought or traded for using other coins. For those looking to buy ETH with fiat (national) currency, we recommend Binance, Coinbase, Huobi, Kraken, OKEx, or KuCoin. The first two of these options (Binance and Coinbase) make buying ETH extraordinarily simple as users do not even know how to make trades in order to swap cash, BTC or other coins for ETH.
A: Much like Bitcoin, Ethereum has proven itself to be stable and secure, as well as an excellent medium of exchange. The Ethereum network is secured by a tremendous hash rate contributed by the miners which is second in total power only to that of the Bitcoin network. Much like Bitcoin, Ethereum itself has never been hacked, and it is considered to be among the safest of all cryptocurrency platforms.
After logging in, click on the “DEPOSIT” button toward the upper right hand corner of the screen. Next, click the “+” symbol under the word “Currency.” A list of available deposit options will appear. Find the box that says “ETH” and click the “Add Currency” button. This will add ETH as a deposit option.
To make an ETH deposit, go back to the main screen and click your email address to bring up the “Wallet” option. Click it to bring up your list of deposit currencies. Make sure that ETH is selected as your Active currency, and then click the green “DEPOSIT” button under “Actions.” This will bring up the Deposit screen. Toward the bottom of this screen is the ETH address assigned to your account. Send ETH to this address to have it immediately credited to your account.
Transaction fees (otherwise known as “gas”) are small amounts of ETH paid along with each transaction. These fees give incentive for miners to add the transaction into a new block. Only after a transaction has been confirmed by a miner and added to the Ethereum blockchain is it considered to be valid.
ETH transaction fees vary quite a bit according to how busy the network currently is and can range anywhere from $0.08 to $0.64 on average. The higher the fee (the more gas) is sent along with a transaction, the faster it will be confirmed by the Ethereum network.