Ethereum Gambling – Playing Online Casinos with Ethereum

All About Ethereum Gambling
All About Ethereum Gambling

If you are aware of cryptocurrencies, you will know that these are growing exponentially. But for online casino-goers, the benefits of playing with cryptocurrencies—especially Ethereum—are booming.

First, let’s find out how it works and the benefits of Ethereum gambling.

Benefits of Ethereum Gambling

Benefits of Ethereum Gambling
Benefits of Ethereum Gambling

Aside from quick processing times, why is Ethereum a popular deposit and withdrawal method for real money online casinos?

Here are a few essential factors on why crypto gambling sites in the US offer Ethereum.

1. Transparency

Because of the nature of the blockchain ledger, players are provided with complete transparency.

If you’re tech-savvy, you can see the transactions between the online casino and its users, which gives you a sense of security that your payments are well-documented in case of an incident.

2. Low Cost

It provides a secure payment solution that doesn’t require any third party or bank account to process payments. This allows Ethereum gambling sites to keep fees low and avoid paying expensive banking costs.

3. Security

Ethereum gambling sites offer heightened security; the Ethereum network is built with complex equations and encrypts to protect users’ accounts.

4. Bonuses

Ethereum is a highly sought-after currency, so many online casinos and crypto-gambling sites offer exclusive bonuses to users who deposit Ethereum to play their slots or table games.

How to Gamble With Cryptocurrency

How to Gamble With Cryptocurrency
How to Gamble With Cryptocurrency

Before winning big at the roulette table, you must obtain cryptocurrency. If you already have Ethereum, deposit it and skip to the section about the best cryptocurrency casinos.

If you’re starting, keep reading about how to purchase Ethereum online.

How to Buy ETH From a Cryptocurrency Exchange

How to Buy ETH From a Cryptocurrency Exchange
How to Buy ETH From a Cryptocurrency Exchange

Unlike other investments, purchasing ETH is a bit more complex. You’ll first have to find a reputable cryptocurrency exchange that will complete your transaction.

Sites like Coinbase, Binance, and Kraken are good cryptocurrency exchanges where you can buy and sell Ethereum, Bitcoin, Litecoin, and other popular currencies.

Signing up for a crypto exchange takes a bit longer than if you were to sign up for an e-wallet like PayPal.

You can fund your account and purchase Ethereum from your exchange after verification. It’s worth noting that all crypto exchanges charge a purchase fee when you buy crypto. But depending on your purchase method, you might be able to avoid this fee.

Many crypto exchanges don’t offer fiat currency for crypto transactions. This is a fancy way of saying you can’t directly purchase Ethereum with USD. If so, you must use another crypto to exchange for Ethereum.

For beginners, this is a highly frustrating part of the process. If you’re unfamiliar with cryptocurrencies and their exchange rates, you’re better off using a fiat-to-crypto exchange like Binance or Coinbase.

How to Buy Ethereum Using a Credit Card

How to Buy Ethereum Using a Credit Card
How to Buy Ethereum Using a Credit Card

If you want to purchase more, you can easily buy it using a credit card.

Using a credit card to buy Ethereum will get your Ether instantly. The drawback is that fees worth 3% of the purchase price are attached to the transaction.

So, if you purchase $300 worth of Ethereum, you’ll pay $9 in fees. To cancel out this fee and make your investment worthwhile, look for a cryptocurrency casino to play at and win big.

Different exchanges also offer various payment plans and rates. Some credit card transactions take five days to process, while others could take up to 30 days.

Remember that it can take up to a week for the funds from your credit card to hit your exchange.

How to Use Ethereum at Online Casinos

How to Use Ethereum at Online Casinos
How to Use Ethereum at Online Casinos

Once you have some Ethereum in your wallet, it’s time to play online casino games. But first, you have to find an excellent online cryptocurrency casino.

As Ether is the second most used cryptocurrency in the world behind Bitcoin, many online casinos accept Ethereum as a payment option.

Many casinos use Ether because it lowers fees. Expect more major online casinos using Ether to reduce costs and boost profits.

When choosing an online casino, check how it handles Ethereum deposits. Platforms can process your Ether payments in a few ways, including instant transfer and a traditional bank account payment system.

Suppose you want to use Ethereum at an online casino that doesn’t accept Ether. In that case, you’ll need to exchange your Ether for Bitcoin and use the digital currency at casinos that allow Bitcoin deposits.

The main drawback when using Ethereum is the transaction fee. Most online casinos do not charge when you deposit in Ether, but they add a small transaction fee when withdrawing your winnings or converting them into fiat currencies such as US dollars and euros.

We’ll talk about the best crypto casinos later on. But now, it’s time to chat about connecting your crypto wallet to an online gambling site.

Connecting Your Ethereum Wallet to an Online Casino

Connecting Your Ethereum Wallet to an Online Casino
Connecting Your Ethereum Wallet to an Online Casino

The last step in the process is to connect your crypto wallet to the online casino of your choice. Most reputable online casinos have refined this process, making it easy for you to turn your Ethereum into pokies credits or tender for the craps table. You must transfer funds from your wallet and click the cashier symbol in the casino lobby.

After doing this, most platforms will prompt you to enter your deposit address and the amount of Ether you want to transfer. Most online casinos don’t charge a fee for processing Ether transactions, so you can play your favourite games without paying hefty transaction fees.

You may have to wait a few minutes after depositing Ethereum before it becomes available for purchasing digital gaming credits on the casino’s platform.

This delay is average and will vary from one online gambling destination to the next. The same is true if you withdraw your winnings since some sites may take up to one to two hours to process your payment request.

With that being said, using ETH or other cryptocurrencies for online gambling is still the fastest method of withdrawal. Using e-wallets like PayPal might take hours to transfer.

After that, you’ll have to wait for PayPal to transfer the funds to your bank account.

In today’s fast-paced financial industry, Ethereum is one of the most efficient methods for moving around funds.

About the author

Mamta Sharma

Mamta Sharma

Mamta Sharma is an influential figure in the realm of online gaming in New Zealand. With over eight years of expertise, she holds a prominent position as a content strategist at PokiesMobile NZ.

Mamta's journey, starting from the bustling streets of Mumbai to the serene landscapes of New Zealand, has given her a unique perspective on the world of online casinos.

Outside the virtual casino environment, Mamta is a also yoga practitioner and an advocate for holistic wellness.