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If just five years ago cryptocurrencies were a wonder for the average consumer, today they will surprise no one. They are exchanged, sold, and even used for gambling purposes. The modern casino industry has relatively quickly adapted to modern trends, and today any gambler can use Ethereum to play. Recently, Ethereum, which is slowly being introduced into online casinos, has become more popular. Today you can find a good selection of Ethereum casinos that accept players from the United Kingdom.
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In 2013, Ethereum was created by Vitaly Buterin. At that time it was only a concept, but in 2014 a full-fledged program of a new digital currency was created. Another six months, Ethereum was sold for $14 million. After that, many improvements and changes were made to this concept.
The difference between Ethereum and other cryptocurrencies is that its system allows transactions with any asset. Thus, this currency can be used not only for the purchase and sale of something but also for the exchange of resources, as well as for having a deal between two parties. Recently, the total capitalization of Ethereum exceeded the $50 billion mark and the popularity of this digital currency is growing all the time.
Ethereum is a decentralized platform for building online blockchain services powered by smart contracts. The exchange units of the network are the ether cryptocurrency (ETH). The main feature of Ethereum is a special programming language that allows you to create decentralized applications with the desired parameters.
Ethereum is an attempt by developers to create a blockchain that would be the most efficient and convenient for money transactions. This technology allows you to create an algorithm with which many operations can be performed programmatically.
Ethereum cryptocurrency has a unique difference, which is the use of smart contracts or smart contracts. Each transaction of the system is carried out using a computer program. Such a system checks the terms of the transaction and the fulfillment of obligations between the sender and the recipient. Since the observance of all points is not monitored by people, but by machines, this ensures honesty and impartiality.
The smart contract technology created and embedded in Ethereum makes it possible to implement an automation mechanism in transactions having previously calculated all the accompanying conditions, as well as the direct result of each individual transaction made. Such an approach should guarantee higher stability indicators in comparison to bitcoin since here conditions cannot be influenced in any way.
So how do these smart contracts work? For example, you made a bet with a friend that the British national team will win the upcoming football match. Your friend wholeheartedly supports the opponent team, for example, Portugal. You prescribe the terms of your bet.
The smart contract removes the amount of the bet from the accounts and holds it until the conditions of the contract are fulfilled — until one of the teams wins. This approach reduces human intervention and makes the machine do the job.
It is time to make out all the differences between Ethereum and the first cryptocurrency bitcoin. We talked about them briefly at the beginning of the article, but let’s break them down in more detail.
In general, Bitcoin and Ethereum cryptocurrencies are not direct competitors. Ethereum is an internal means of payment for clients of a decentralized system, and bitcoin is an international financial instrument that allows you to make payments anonymously and with a minimum fee.
On the Bitcoin network, the cryptocurrency is the final product, which is the whole meaning of the existence of its blockchain. Bitcoin is a digital analog of dollars and other national currencies. ETH coins are more like digital shares of a company that provides services to clients within a peer-to-peer network.
To sum up, Bitcoin is an alternative payment system designed to replace traditional money. Ethereum system that develops and launches apps running on smart contracts. Bitcoin certainly dominates the cryptocurrency market today and is the better-known coin, but many believe that Ethereum, which came six years later and is more technically advanced, could become a competitor to Bitcoin that will eventually surpass it.
However, since each of the platforms is geared towards different things, there is no doubt that there is room for both of them in the cryptocurrency industry.
ETH is the second largest cryptocurrency by market capitalization, after BTC. In this regard, it is included in the listing of many exchanges, as well as exchange offices. You can buy it on:
For common users, the first 2 options will be the simplest and most accessible. However, you should check in advance with the exchange or exchanger if they work with ETH (some exchanges, for example, can only work with BTC).
Ethereum is a cryptocurrency that is not controlled by any government or company. It is completely decentralized and exists only virtually. There are no bills or coins in reality. Here you do not need to indicate your name, phone number or email. Just register a wallet, put a password on it and that is it.
If you worry about losing your Ethereum when making transactions, do not worry. All operations are reliably protected by smart contracts, so your funds will certainly reach the casino deposit account.
The Qyto team consists of industry experts who know almost everything about gambling.
We have collected the top list of casinos that accept Ethereum. Moreover, you have a chance to check the reviews of the most attractive and fair gambling casino platforms providing the best conditions for the UK players in 2021. Anyway, here is the list of criteria any respectful operator must meet:
At the Qyto site, you can find several sites that accept ETH and other cryptocurrencies. For example, Bitstarz casino is one of them. Due to our unbiased and complete review, you can learn everything about this casino features including bonuses, games, methods of payments, support, T&C, etc.
Unlike Bitcoin, Ethereum has not achieved widespread acceptance in online gambling yet. However, everything goes to this. Gradually, operators who accept cryptocurrency are expanding the options available and adding Ethereum to its lists of payment systems. Anyway, why this payment method gets popular in some casinos. Here is the set of reasons why players choose Ethereum for gambling transactions.
Ethereum, being a blockchain-based open-source cryptocurrency, makes it easier for players around the world to play games. Players use the single currency of this blockchain and they do not need to take into account the exchange rates of cryptocurrencies. They always deposit the amount in Ethereum that they originally planned to invest.
Moreover, when wins are made in the same currency, there is no need to convert your money to your local national currency. Thus, regardless of the location of the player or the online casino, you can enjoy the game without any hassle.
Many people know that bank transfers can take several days before the money owner begins to control them. In the case of Ethereum, there is no need to wait that long. Withdrawing funds takes a few minutes and your wins will be in your wallet soon.
Ethereum is an excellent choice for gambling, as the decentralized structure of the blockchain ensures that there is no hacking, fraud or third-party interference in the management of your funds. No one will be able to stop/reverse your transaction or hack your wallet unless you share somehow this confidential information with some other party.
We should note that the range of games in Ethereum is quite big. This allows meeting the needs of many casino game fans. This is very important, as a wider selection means a greater chance of choosing what works best for everyone.
At the same time, most likely, the chances of getting wins also grow. Moreover, Ethereum gambling does not require the exchange of Ether for fiat money or other cryptocurrencies.
Our list of Ethereum online casinos includes operators of different levels. From those who received a high rating to those who have it below average. However, they are all licensed and offer original games from the top developers. The list of casinos is small but there are some decent options.
Now to receive a bonus in most casinos, you need to put some money on your casino account. You can easily buy Ethereum online and use it to make a casino deposit. Many of these online casinos offer special bonuses and promotions to players who deposit using Ethereum. Let’s reveal the list of the most common goods provided by Eth casinos.
Thanks to such kind of promotions, you can start playing casino games without investment with bonuses presented by the administration for completing various requirements like registration on the site, reaching the next level of VIP status in the loyalty system, participation in tournament competitions, Birthday, downloading apps for games from mobile gadgets.
Players can receive such no deposit bonuses in Ethereum and other crypto coins.
As no deposit bonuses, in addition to virtual coins, in these casinos, you can also get free spins (free spins) to launch slot machines with certain rates in cryptocurrencies.
This is the most common special offer a new player can receive after the registration on the website. Usually, such bonuses require the first deposit from a player. This means you can make the minimum deposit using Ethereum and claim a welcome offer. Sometimes operators provide packages that include the main bonus and free spins a player can use in slot games.
Free Spins give you the opportunity to play slot games for real money or for free. Winnings are credited after all free spins are completed. Free spins are credited in special situations, for example, for completing a task or as part of a promotion. Free spins can be used in certain games and this depends on a casino’s T&C. Winnings received from these spins can be redeemed as an instant bonus or cash. The free spins bonus has a limited term of use.
Being a regular user of an appropriate casino site, you have all the chances to join its team of privileged fans. These guys are always more respected by the casino administration because they frequently play on the site and invest big sums of money. That is why they get the following benefits:
The number of games available for betting on Ethereum has long been on par with the assortment provided by ordinary online casinos, or even surpasses it. Thus, the list of the most popular games you can play with Ethereum are the following ones:
The process is slightly different from the standard deposit with a bank card or e-wallet. Let’s see the step-by-step procedure of making deposits with the help of Ethereum.
The transfer speed can vary, depending on how generous fees you are willing to pay. However, in the case of this cryptocurrency, even with a rather economical option, Ethereum is credited to the casino in a matter of minutes.
Ethereum has a dedicated ETH Gas Station page that shows the approximate waiting time at your chosen commission. So, you will roughly know how long it will take. If you choose the faster option, the money will come in less than a minute. The cost even at high speeds is very low. The transaction will be charged less than 10 cents.
The Ethereum address is displayed at the cashier of the online casino, this address, which will be your personal wallet for depositing your game balance. Everything that goes to it goes to your casino balance. Just keep in mind that it is better to double-check several times whether you entered the address correctly than to rush.
Please note that it takes time for the Ethereum deposit to show up in the casino. So don’t worry, wait until the estimated transfer time has passed and check the balance again. If the money does not appear for a long time, contact the operator’s support service.
There are payment methods that cannot be used for withdrawals. However, if you use Ethereum, you can both deposit and withdraw. For this, everything will be pretty standard. In the Cashier of your casino account, you select Withdrawals/Payments and mark the desired method.
Next, specify the amount and wallet and click on the Request withdrawal button. After that, all that remains is to wait until the institution first processes the request and then transfers the funds.
There are a large number of Ethereum wallet options that are used to store cryptocurrency. These include:
Which option you choose depends entirely on your personal preference for convenience and safety.
These wallets work on your PC or laptop. One of the options for using them is to download the Ethereum wallet client. The download process can take you several days and will continue to grow as Ethereum grows. After that, the wallet must be synchronized with the latest transactions made on the blockchain.
Mobile clients require fewer data to download a connection to the blockchain and then make transactions on the ETH network. Therefore, they are most often installed on smartphones. However, despite the ease of use, this option is less secure. At the same time, storing private keys on a smartphone disconnected from the Internet is much more difficult to hack and is best used for storing large Ether holdings.
These wallets are secure devices that can be disconnected from the network while still creating transactions. However, this wallet option is not entirely convenient with frequent use of Ethers due to the lack of access to the blockchain.
These wallets are another cold storage option. You write down your private key on a piece of paper, which you then store in a safe place. They can also look like a QR-code that can always be scanned. The advantage of such a wallet is that there is no threat of cyber attacks or system malfunction.
There is a possibility to create a wallet using a special website. Here we are going to reveal a step-by-step guide on how to get your Ethereum wallet:
If you lose the private key of your Ethereum wallet, there is no way to recover it. Access to your funds will be lost forever.
As you see Ethereum is an altcoin (means an alternative currency to bitcoins). Moreover, it is not the only one. Each of the alternative crypto-units is trying not only to copy but also to improve some of the parameters of a currency. Already there are more than 800 varieties of altcoins, most of them differ from the original very slightly, appear and disappear. But among this variety, there are very interesting options that you should know about if you want to start mining cryptocurrencies or gambling online with such methods.
Most of the new cryptocurrencies like Ethereum come from small changes in the bitcoin code. But in the case of Ripple, the code was written from the very beginning, under the order of venture capital funds (an investment fund focused on working with innovative enterprises and projects, investing in securities or shares of enterprises with a high degree of risk in anticipation of extremely high returns).
Ripple technology is already being used by Bank of America, HSBC. Unlike bitcoin and ETH, Ripple cryptocurrency cannot be mined. It is a centralized system where all digital money already exists and belongs to the Ripple Lab company.
This crypto occupies 2% of the total value of the cryptocurrency market, which is $ 2.7 billion. Litecoin was born in 2011, thanks to Charles Lee, an ex-Google engineer. Litecoin, like Ethereum, is a hard fork from Bitcoin. One of the few differences between Litecoin is the speed of transaction processing — it is faster than Bitcoin.
Such a currency is ranked 6th on the list of cryptocurrencies. There are over 7.5 million units of this cryptocurrency in total, and it costs $ 327 per dash. This is another cryptocurrency that appeared in 2014 as a result of a change in the bitcoin code. The main difference from Bitcoin is complete anonymity.
Bitcoin is anonymous until the owner of the wallet is found. That means, all Bitcoin transactions are already visible, but what’s the point if the sender and recipient are unknown? If somehow the owner of the bitcoin wallet becomes known, then it will be possible to trace all the movements of his funds on the bitcoin account.
It is impossible to track other people’s transactions in the Dash system. Transaction data are not published in blocks. Operators are responsible for this.
All these methods are available in the trusted casinos from the Qyto’s crypto casino rating. If you cannot use ETH, you have multiple options for depositing and betting to choose from.
Ethereum is becoming more than just a cryptocurrency that stores transaction records on the blockchain. With the advent of smart contracts, it can become a revolutionary solution for decentralized transactions in many areas of activity. By the way, do not forget that progress does not stand still and the platform is modernized from time to time. All these factors make Ethereum such a popular and promising system.
In general, cryptocurrency is legal in Britain. This is explained by the absence of authority that can control this currency. However, Ethereum use in online casinos is legit.
The Ethereum platform provides exceptional security. New Ethereum coins are created according to a strictly defined algorithm embedded in the system’s program code. All transactions are protected by a cryptographic signature. That is why you do not have to worry about the safety of your money.
As we already have mentioned, you can get Ethereum coins in some exchanges. Here are a few of them — CoinMama, CEX.io, Coinbase, Bitpanda. Before using these sites, we recommend you explore their features and requirements to make everything properly.
Besides Litecoin, Ripple, and Dash, you can use Monero, Stellar, Binance coin, Nano, Nem. These are just some of the similar cryptocurrencies that are called altcoins. If you have no possibility to use cryptocurrency, some other methods like PayPal, Skrill, Neteller, Visa will be useful for you as well.
Absolutely. Playing for Ethereum does not differ from playing for regular money. You also get no deposit bonuses for sign-up on the site and can use various promotional codes if they are supported by a casino.