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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 casinos that accept this kind of currency.

Table Of Contents:

  • History Basics
  • Ethereum Understanding
  • How It Works?
  • Security
  • Benefits
  • Games
  • Payments
  • Mobile
  • FAQ

Ethereum History

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.

What Is Ethereum?

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.

How Does Ethereum Work?

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 Ethereum platform uses a programming code similar to JavaScript. A contract is considered completed after it has received a notification from another user or another smart contract. The computer program independently sends money, after the conditions are met, and can also work with the database that accompanies each transaction.

What Is a Smart Contract?

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.

Ethereum Vs Bitcoin: What Is The Difference?

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.

How To Get Ethereum Currency?

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:

  • cryptocurrency exchanges;
  • currency exchange offices;
  • mining (cloud or classic);
  • buy in a cryptomat (a special terminal for buying and selling cryptocurrencies).

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).

Benefits Of Ethereum Gambling

  • Anonymity. Even the casino itself does not know absolutely any information about you, except for the one that you personally enter in your profile. This is especially true for players whose countries ban gambling.

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.

  • Efficiency. Transactions using Ethereum are carried out much faster than with classic money methods.
  • Economic benefit. When conducting operations related to cryptocurrencies, there is either no fees at all, or it is insignificant.
  • Safety. In a classic casino, you cannot be sure of the honesty of the gaming algorithms. Places that accept cryptocurrencies provide such an opportunity. It is provided by the Provably Fair system. Using such a system, the user can check the honesty of the game move at any time.
  • Great chance to win. A point that flows smoothly from the previous one. Casinos accepting cryptocurrencies are honest, so the likelihood that the client will receive a win is higher.

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.

How To Pick Trusted Ethereum Casino?

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 2020. Anyway, here is the list of criteria any respectful operator must meet:

  • Quality service. In gambling halls, you can freely conduct transactions with various cryptocurrency including bitcoins, ethereum, monero, and other types of coins, using the comfortable functionality of the new sites;
  • An extensive range of games. In the catalogs of Eth casinos, there are sites that provide access to the most popular slot machines created by well-known gambling software providers like NetEnt, Microgaming, Yggdrasil, Play’n GO, and others;
  • Minimum fees. For depositing casino accounts in cryptocurrencies, Ethereum casino does not charge any fee. When withdrawing funds, the player pays only for the transaction of the exchange itself or the virtual wallet. As a rule, it is pretty low;
  • Security of transactions. The high level of data protection in online casinos using blockchain technologies allows payments in different types of cryptocurrencies;
  • Anonymity. Access to player data is protected by a multi-stage security system, personal information of users is not transferred to third parties;
  • Profitable bonuses. In Ethereum casinos presented in this rating, users can take advantage of attractive bonuses that allow them to play gambling slots even without high deposits.
  • 24/7 professional support. Technical service specialists will be able to promptly advise players on the aspects of payments in cryptocurrency.

Ethereum Gambling

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.

Convenience & Flexibility

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.

Fast Withdrawal Of Money

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.

Enhanced Security

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.

Big Collection Of Games

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.

Bonuses & Promotions

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.

No Deposit Bonuses

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.

Welcome Bonus

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

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. Winnings received from these spins can be redeemed as an instant bonus or cash. The free spins bonus has a limited term of use.

Loyalty System

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:

  • personal account manager;
  • extra bonuses and gifts;
  • special rewards (tickets to sports events, journey to Las Vegas).

Ethereum Games: Slots, Craps, Roulette, & Others

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:

  • Slots. Many bitcoin casinos have adapted slots from such popular licensed providers as NetEnt, Microgaming, QuickSpin, Amatic, etc. Some have gone even further, developing their own slots based on the aforementioned provably fair algorithm, which is perfectly compatible with Ethereum bets.
  • Roulette. The good old roulette, which is still one of the most popular entertainment for gambling bitcoiners.
  • Ethereum Blackjack. thanks to the great symbiosis of gambling and cryptocurrency, blackjack has become even more attractive. Fans of this card game have a whole list of obvious advantages as anonymous gambling where no one asks where you are from or what your name is; fast and cheap funds transfers; possibility to play blackjack for bitcoins in provably fair casinos; high odds of winning;
  • Sports betting. Ethereum is very convenient for sports betting due to the speed of transactions. In comparison to Bitcoin, few casino sites accept Ethereum, but they are still there, and a list of them can be found on the main page of the Qyto website, where you can filter the list of the best Ethereum casinos by selecting the appropriate game and currency.
  • Live Dealer Games. To preserve the atmosphere of a traditional casino, gambling projects include live games. They broadcast video from real gambling halls where professional dealers work. Players from all over the world can connect to the virtual room and chat in real time via online chat. Evolution Gaming is the top of live game developers. The company provides such products like live roulette, blackjack, poker, baccarat, craps, the wheel of fortune run by real dealers and hosts.

How To Fund A Casino Via Ethereum?

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.

  1. Log in to your casino account, go to the Cashier, then Deposit.
  2. Choose Ethereum. A window will open where the wallet address will be provided.
  3. Copy the address and transfer money to it. To do this, go to your billing account and complete the transfer. Those who use the phone for transfers can scan the QR code that will be displayed on the casino page. This will give them the correct wallet address on their phone.
  4. After confirming the transaction, it will be credited to your casino account.

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 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.

How To Withdraw With Ethereum?

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.

Types Of Ethereum Wallets

There are a large number of Ethereum wallet options that are used to store cryptocurrency. These include:

  • web wallets (browser, online);
  • desktop wallets;
  • hardware wallets;
  • paper wallets.

Which option you choose depends entirely on your personal preference for convenience and safety.

Desktop Wallets

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 Wallet

Mobile clients require less 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.

Hardware wallets

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.

Paper Wallets

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.

How To Create An Ethereum Wallet?

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:

  1. Go to myetherwallet.com website;
  2. Come up with a password of at least 9 characters, type it into the appropriate field on the homepage of the site and click the Create wallet button;
  3. Download the Keystore/JSON file. We recommend you additionally save the received files to a USB flash drive, another computer or any other medium;
  4. Next, a private key of the form will be generated which will be required to enter your wallet. Write it down somewhere and do not lose it.

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.

Perspectives Of Ethereum In Future

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.

Questions & Answers

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.

Litecoin, Ripple, Monero, Stellar, Binance coin, Dash, Nano are just some of the similar cryptocurrencies called altcoins. If you have no possibility to use cryptocurrency, some other methods like PayPal, Skrill, Neteller, Visa are waiting for you.

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.