Technological innovation and the internet exploding in popularity led to a growing interest in online transactions. Buying and selling things over the internet existed for a while, but it was always treated with slight scepticism. While most of us looked for secure ways to use our debit cards online, some communities approached things differently. Their goal was to create actual internet money, which was not backed by any central bank.
We already know how this story ends. It saw the birth of Bitcoin, which remains an incredible cryptocurrency even now. However, it is not the only option for people interested in internet money. Mid 2015, we saw the creation and rise of the world’s second-largest cryptocurrency, called Ether or Ethereum.
The goal of Ethereum was to create access to digital money and services for everyone. The currency itself is the backbone that powers the Ethereum network. Ether can be used to pay funds, but it also has a variety of other uses. Ethereum allows you to get crypto loans, create tokens and, of course, use it as a payment service.
The technology behind it is incredible, and has the potential to change the internet! For our purposes, we will be looking into Ether as a way to transfer funds securely to and from a casino.
As the second most popular cryptocurrency, Ethereum is present in every online casino that accepts crypto. That said, this is still a small number of operators. While they offer unparalleled security and privacy, cryptocurrencies are not everyone’s cup of tea.
Many websites choose not to bother with them at all. However, we do not think that should discourage you from using Ether. Which is why your pals at Casino Bloke picked out the best casinos that allow you to use Ethereum to pay!
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Maximum winnings that will be paid out resulting from a free bonus or free spins without deposit will be 100 EUR or currency equivalent. In regards to BTC players, the maximum winnings that will be paid out resulting from a free bonus or free spins without deposit will be 15 mBTC. Any winnings exceeding this amount will be forfeited. Wagering Requirements for Free and Registration bonuses are forty (40) times the Bonus sum awarded to you, unless stated otherwise in the supplemental Terms and Conditions. General bonus terms and conditions apply.
The minimum deposit requirement to qualify for any part of welcome bonus is €20, its equivalent in other currency or 0.0042 BTC. Welcome package consists of: 100% bonus up to €100/1,5 BTC and 100 free spins on your 1st deposit; 50% bonus up to €100/1,25 BTC on your 2nd deposit; 50% bonus up to €200/1,25 BTC on your 3rd deposit; 100% bonus up to €100/1 BTC on your 4th deposit. All bonuses (unless otherwise specified) need to be wagered 40 times before the funds can be withdrawn. Time to wager - 14 days.
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Depends on crypto broker
84 / 100
Rates, Fees & Cost – Setup cost and transaction fees
Security – Level of safety and security measures
Availability – Number of serviced countries
Reputation – Overall feedback among players and consumers
Customer Support – Quality of assistance and speed of response
Like many cryptocurrencies, Ethereum has a long list of founders. The idea behind it was first described in late 2013. The original idea was to attach Ethereum’s scripting language and blockchain technology to Bitcoin. The idea was that this would allow developers to build apps around Bitcoin. The idea never took off, however. As such, Vitalik Buterin and several others got together to create Ethereum.
While it started humbly, it quickly began to expand rapidly. The Ethereum Foundation, a non-profit, was established to oversee the development of this new project. In 2017, Ethereum saw a massive boost thanks to the formation of the Enterprise Ethereum Alliance. This non-profit saw big names like Microsoft, Intel, Scotiabank, MasterCard and many others get on board the Ether train.
All of this effort has led to Ethereum becoming as widespread as Bitcoin is right now. The process of acquiring it is quite similar. You purchase it with real money through a coin exchange or a decentralised exchange. From there, you can keep your crypto with the exchange, or with a wallet. The wallet is the more secure option, as it prevents hackers from getting access assuming you take proper precautions.
Provided you have your wallet all set up, transactions are relatively simple. Your wallet will have a public Ether address, which serves a similar purpose to an e-mail address. When you first transfer your purchased Ethereum to your wallet, you sent it to that wallet’s address. Your address is unique to your wallet, and this is true for every individual wallet out there.
When you need to make a deposit to an online casino, you transfer your Ether to their wallet. How that exact process works depends on the wallet you are using. However, it functions similar to a transfer of funds from an e-wallet to the operator. Please be careful and triple-check everything when depositing funds. Cryptocurrencies do not have a support system in place if you accidentally send too much, or to the wrong Ethereum address.
As far as withdrawals go, they are handled identically to transferring crypto from an exchange to your wallet. The online casino will request your wallet address, which you copy over. Provided you entered everything correctly, the funds should appear in your wallet almost instantly.
Thanks to cryptocurrencies using similar safeguards as e-wallets, withdrawals function almost identically. Apart from processing time the operator might have, Ether withdrawals should appear in your account almost instantly. Please make sure you have correctly entered your address when withdrawing. There is no way to refund that money.
If you never used a cryptocurrency before, you may be wondering how it works exactly. To simplify matters, people use powerful computers to ‘mine’ coins and get to keep a portion of them. For everyone else who wants to use the coins, we have to purchase them! This is where the fees for using Ethereum come into play. The fee for purchasing Ether ranges from 0.25% to 5%, depending on the broker and the sum you are buying.
However, that is likely the only fee you will come across when using Ethereum. Once the funds are in your wallet, you can deposit and withdraw them without any extra cost. Keep in mind that operators may impose additional fees on their end. However, these are separate costs and have nothing to do with the actual Ether transaction.
To keep it brief; there is not any. Using your own wallet gives you full and secure control over all your cryptocurrency funds. At the same time, it also gives you full responsibility for what happens. There are no refunds or anyone to turn to if you do not secure your wallet properly. You have to accept this trade-off for the privacy cryptocurrencies offer.
Just seeing the incredible growth of the Ethereum environment tells us that it has a bright future ahead. Despite so many complaints that crypto was just a fad, it still holds strong to this day! We believe Ether is in the best position to grow and expand in the future as a result of all the extra things it offers.
As the second-largest cryptocurrency, it has widespread support among casinos that accept crypto. It has a lower initial cost than Bitcoin, too, which makes it more accessible.
A large number of online casinos still does not support cryptocurrency transactions. However, Ether is widely supported among those that do.
Ethereum transactions do not expose any of your banking details, nor do put your crypto wallet at risk. The transaction itself is completely private, without any identifying details being sent.
Cryptocurrencies like Bitcoin are around, but suffer from the same flaws Ether does. E-wallets can offer a similar level of security, while making things much easier to use.
All transactions using this and any other cryptocurrency are final. As a result, it is important that you triple-check you are entering the right address when sending and receiving money.
You have the option of keeping them at a coin exchange or in your own wallet. We recommend the latter, as it is more secure and less prone to hacker attacks.