There has been a trend recently of people wanting to earn some quick bucks online, or even become overnight millionaires. And online gambling with cryptocurrencies like Ethereum is one such activity that can help you with this endeavour.
Before gambling with Ethereum, you might first want to practice a little to make sure you are not reckless with your money. There are a few options you can try out to make the most out of your gambling experience with Ethereum.
You can play your luck at demo slot games that are offered by most casino websites in exchange for doing reviews for them. Some iGaming sites also allow you to play poker and blackjack with virtual fake currency against AI players just to help acquaint you with the rules of gambling online.
Ethereum cryptocurrency: what is it?
Ethereum is a global cryptocurrency that is the backbone of a thriving digital economy. It can be used to make online payments, exchanged for foreign currency, and used in digital trading markets.
It has opened new doors for people to earn while at home, with just an internet connection being all that you need to get started. It has benefitted millions across the globe, with many of them becoming millionaires within a fortnight if they are smart and lucky with their investments.
The main draw of Ethereum as a currency is that all transactions are carried out without being overseen by a central authority. No personal details need to be shared and you are in control of your data. This has resulted in a rise in Ethereum being used as a currency on online gambling platforms.
How can you gamble online with Ethereum?
Online gambling has seen a meteoric rise in the player base in the last few years, as more people are starting to realize its benefits. And Ethereum is one of the most popular cryptocurrencies around the world, second to only Bitcoin in its market valuation.
With over $250 billion in market capitalization, it’s no wonder that Ethereum buyers want to increase their capital. One of the ways is to gamble with it, and Ethereum gambling websites offer a variety of avenues for you to test your luck, such as betting on sports, slots, live dealer games, and table games.
Casino games like dice and roulette are also offered if you know where to look. Some websites always have various promotions or bonus incentive programs going on for you to boost your winnings.
Advantages of Ethereum gambling
Ethereum gambling, while rife with potential pitfalls, also has a lot of benefits that can be reaped once you get a hang of it.
Gambling with Ethereum has a few upsides to it when compared with Bitcoin. For example, at some online casinos, using Ethereum results in free withdrawals from your casino wallet. In large part due to the nature of its blockchain, Ethereum withdrawals are generally hassle-free when compared with Bitcoin, and so many casinos waive the withdrawal fees altogether.
The market value of Ethereum is also a lot more volatile than other cryptocurrencies, with deep valleys and high peaks. This can lead to larger payouts if you know when to withdraw your gambling winnings.
Another advantage of Ethereum is that it takes a lot less time than Bitcoin for transactions and deposits. Depending on the server usage, Bitcoin transactions can take anywhere from 5–15 minutes, while Ethereum takes less than a minute.
Ethereum is also a rising market, with transactions at an all-time high. So, while occasional dips in value are to be expected, you can rest assured that the overall trend is a positive one as far as Ethereum is concerned.
Casinos that use Ethereum as their primary currency also employ smart contracts to ensure fair play in their games. This means that gamblers can enjoy their gambling conveniently, knowing that their games are conducted in a safe and secure digital environment.
Ethereum gambling has a lot of the benefits that come with the use of Bitcoin as a currency. But in addition to that, it also has multiple other Ethereum-specific benefits that are not present when using other cryptocurrencies in your casino wallet.
These include faster transactions, greater market volatility, which entails potentially larger payouts, a safe and secure gambling environment that ensures a peaceful gaming experience, and fee waivers for withdrawals at certain online casinos.
The crypto-gambling market is rapidly growing, and the ones who have dabbled in it to earn money are reaping the rewards. It is the future of gambling and anyone who even has a passing interest should give it a look.
Zuella Montemayor did her degree in psychology at the University of Toronto. She is interested in mental health, wellness, and lifestyle.