Ethereum Accepted Online Casinos
Interested in playing with cryptocurrencies? Take a look at the best Ethereum casinos where you can use Ether to make deposits and withdrawals and play your favourite games.
To make it very easy to understand, Ethereum is software, an open-source blockchain, a decentralized system that records transactions and calculates them in real-time. They have their own native cryptocurrency called Ether.
Ether is the second most used cryptocurrency on the market after Bitcoin and was invented in 2013 by Vitalik Buterin but it actually entered the market later in 2015 and the initial blockchain had over 72 million coins.
After a bad incident in 2016, Ethereum implemented a series of security updates which included an auxiliary security system called Sharding. Just like Bitcoin, Ethereum uses a non-hierarchical network (nodes) to form the whole blockchain.
Ether is created through a process called mining which is practically an algorithm solving where a new block is created and added to the network and miners are rewarded with a small part of an Ether.
New blocks are created at a fixed rate, however, compared to Bitcoin, this rate is ten times faster. Another difference comes from the fact that while Bitcoin has a maximum caped number, Ethereum has none, at least not at this point.
This is one of the main differences between cryptocurrencies like Ether and fiat currency. In a centralized banking system, fiat currency is produced regularly to match the growth. In a decentralized system like Ethereum where the number of tokens is not controlled, the price stability is increased, remaining immune to inflation.
Even if Ether was originally designed to be used on the Ethereum network, this cryptocurrency is now accepted as a form of payment by a lot of merchants and service vendors including online casinos.
How to deposit at online casinos using Ethereum
To make a deposit using Ethereum at an online casino is not that hard, but it takes a couple of more steps compared to standard transaction methods.
Before you can make any form of Ethereum transaction, you will need, of course, the currency, Ether. If you already have Ether or an Ethereum wallet, you can skip to the next step.
There are plenty of websites and suppliers from where you can buy Ether online. Remember that on any of these websites you will need to create and verify an account and also possess a form of payment (usually credit/debit card) to exchange your fiat currency into Ether.
The second step is to set up an Ethereum wallet. This process is very similar to e-wallets. You pick the desired Ethereum wallet website and you register an account there. You will only have to provide a valid email address and choose the desired password.
Now that everything has been set up, you will want to generate an Ethereum address in your wallet to be able to move the Ether tokens you have purchased from the website or vendor of origin.
Once your address has been generated, you will have to return to the website or vendor and introduce the address to complete the transaction.
Now, there can be a fee involved in this process, around or less than $1 as a tax for the network and nodes used to complete the transaction.
Now that you have the Ether in your account it’s time to move to your desired Ethereum online casino. From here on, every stem becomes similar to any other standard payment methods as follows:
You have to log in to your player account on the casino’s homepage
Go to the Cashier section and select Ethereum as a deposit method
Enter the amount of cash you wish to deposit and follow the instructions shown
The transfer should be almost instantaneous and you should be ready to gamble in no time
How to withdraw from a casino using Ethereum
The process of withdrawal is quite similar to the Ethereum deposit process with the only exception that you already have an Ethereum wallet and you don’t need to buy any more cryptocurrency. Here is the simplified process step by step:
Log in to your player account on the casino’s homepage
Go to the cashier section and select Ethereum as the withdrawal method
Enter the amount of cash you wish to withdraw and the email address.
The funds should be available quite fast in your Ethereum wallet.
Once the Ethereum tokens are in your wallet, you can either keep them there or change them into fiat currency by withdrawing them with a credit card or bank account connected to your Ethereum wallet.
PROs and CONs of Ethereum Casinos
Just like any other casino transaction methods, Ethereum has plenty of benefits but also a couple of cons. To make it easier for you, we broke them down in the table below:
Ethereum is a decentralized system, meaning that it is not owned by any government banking system. Your Ethereum transactions can’t be frozen or blocked.
The whole blockchain is formed of independent parties and it’s not owned by any government. This means that if you run into a problem, you may find it hard to solve it
Transactions on the Ethereum network have no fees or these fees are far lower compared to any other e-commerce company, meaning you get to keep more money in your wallet.
Once a transaction is confirmed, the money will be sent. There is no way to charge it back as you can with other payment methods like credit or debit cards.
Since all transactions done with Ethereum are verified on the network through the nodes, you can easily check the transaction history between you and the casino.
Ethereum like any other cryptocurrency is volatile and the value of a block may change in just a couple of days, greatly increasing or decreasing.
On the Ethereum network, all transactions are made under pseudonyms. Even if you can verify the transactions, you can’t see the real identity of the parties. This can be a great thing for players in regions where gambling is under the monopoly of the state or in a grey area.
Transactions take more time and are a little bit harder to make compared to standard casino payment methods
Because Ethereum uses the peer-to-peer system, transactions are usually instantaneous compared to other casino payment methods.
Ethereum Safety and Security
At this moment, Ethereum, like any other cryptocurrency, represents the safest transfer option available on the market. Since you don’t have to use any sort of credit/debit card or financial information when making transactions, these will never become available to third parties.
In some regions or countries, gambling falls under a grey zone or is under the monopoly of the state. In these regions, gamblers have a hard time because credit/card or bank transfers towards international casinos are banned or frozen. Ethereum represents a safe and anonymous way to make deposits and withdrawals in these regions.
An Ethereum wallet can’t be frozen and the transactions can’t be traced making it ideal for players who prefer to keep their identity private.
How to Choose the Best Ethereum Casino
Ethereum has been around for almost a decade and became the second most widely used cryptocurrency in the iGaming industry. There are plenty of Ethereum casinos to choose from and making the right pick can be hard for a beginner.
To lend a hand, here on CasinosLists, you will find a list of the best Ethereum casinos that also offer a lot of bonuses for new gamblers.
When choosing an Ethereum online casino to play at, you should always apply the same rules as you would do with any other standard online casino.
Always look for reputable online Ethereum casinos that have good reviews and have been rated as the best by other gamblers to make sure that specific casinos don’t have a bad incident in the past or a shady history.
Take your time and browse the catalogue of games inside each Ethereum casino before registering an account.
If you love slots go for a website that offers Ethereum slots or if you fancy table games go for an Ethereum gambling website where you can find mostly Ethereum table games or card games.
Because the whole cryptocurrency blockchain is not owned by anyone and it’s very hard to solve a problem, make sure that the desired casino has good customer support that’s available preferably 24/7 and can be contacted through various means.
It’s very important for players to enjoy a great gambling experience and that’s why we use a complex process when making our lists. Here on our website, we use both the expertise of our team and also, other real gamblers’ ratings.
Remember that a good Ethereum gambling website should be licensed and regulated by a reputable independent authority, should have customer support preferably available 24/7 and a wide selection of casino games of your interest.
We can’t say exactly which Ethereum gambling website in our list is the best casino because not all gamblers have the same tastes and needs. However, if you want to see which top Ethereum casinos have been rated as “the best”, you can also use the “Top-Rated” option in the filter options.
New online casinos usually have the best bonuses and offers and you are really looking to claim a good Ethereum casino no deposit bonus to get things started, you can also sort the list using the “Newest” option which will display the newest released casinos. Most of these new Ethereum casinos have been released in the last 12 months.
Ethereum Casino Bonuses
Just like standard casinos, Ethereum gambling websites offer a wide variety of offers and bonuses to attract new gamblers and keep veterans happy. This practice is great because it actually benefits both the casino and the players.
There are plenty of bonuses you will encounter at Ethereum online casinos when you will sign up and we will present each of them in short: The first ones you are able to claim will be welcome bonuses which are split into two categories, deposit match bonuses and no deposit bonuses.
Match bonuses represent a match percentage of your first deposit. Let’s say the casino offers a 100% match bonus for up to ETH 50. This means you will get another ETH 50 to play at your favourite Ethereum casino games.
An Ethereum casino no deposit bonus or an Ethereum casino free spins are the rarest offers you can hope to claim at a casino. You don’t need to make any sort of deposit in order to get the bonus and you only have to complete the wagering requirements.
The only downside to no deposit bonuses is that they are much smaller compared to standard bonuses. Some Ethereum gambling websites offer loyalty and VIP programs where you can get birthday gifts, exclusive promotions, tickets to certain tournaments or larger bonuses.