Cryptocurrency users frequently call Ethereum Bitcoin’s little brother. This is explained by the blockchain system which is common for both currencies.
However, Ethereum is considered one of the most appropriate for gambling online in 2021. According to the ethereum casino list by QYTO, we can admit that such a payment method is successfully accepted by Asian and European casino players. And now we are going to reveal the pluses of Ethereum casinos and some of its features to understand how it works.
Why Do Gamblers Use ETH Worldwide?
First of all, one of the main advantages of Ethereum, in this case, is convenience. Ether makes it easier for gamblers to participate in gambling since they can use the single currency of this blockchain and there is no need to analyze and take into account the exchange rates of cryptocurrencies.
As for the withdrawal of funds, according to experts, making payouts is also very convenient. If bank transactions can sometimes take several days, the withdrawal of winnings in this cryptocurrency to the wallet is carried out instantly.
The third benefit is security. Distributed ledger technology is a robust system that is very difficult to hack. Such a program totally excludes deception and provides complete protection from hackers.
Simple exchanges is another plus of ETH. Most cryptocurrencies depend on bitcoin and before withdrawing, you need to exchange it for bitcoin and only then make a withdrawal. With Ethereum, everything is simpler, you can immediately change it to dollars or sterling pounds, which makes the exchange easier for a casino player.
A huge collection of games is also one of the most ultimate reasons why gamblers choose these crypto coins for playing slots or table games. For instance, Japanese players gamble a lot, therefore, crypto coin bets are a perfect solution.
How Ethereum Works?
To be honest, Bitcoin’s blockchain is quite primitive and is able to process only the simplest operations for the functioning of the currency, while Ethereum has a more advanced system due to the implementation of smart contracts.
As we know, in the modern world, any agreement is accompanied by one or more intermediaries who take a certain percentage for the opportunity to make a deal. Due to such smart contracts, any intermediaries or third parties can be avoided: a simple code decides whether a condition is met and, depending on the answer, transfers funds to one or another account.
Guide on How To Bet with Ethereum
Let’s imagine that you have already chosen a casino to play, and now you want to top up your balance with ETH. How to perform it? Here are some steps that are waiting for each player:
- The player chooses a game, for example, craps;
- Makes a bet from his/her wallet on a certain outcome, for example, an even number;
- A draw game is carried out, the result is determined by a random number generator, and the honesty is checked by several network participants, confirming or not confirming the outcome.
Prospects of Ethereum in 2021
According to the DigitalCoinPrice.com forecast, the Ethereum chart will show significant growth by the end of 2021 — it is about to reach $1,694. Moreover, in December 2025, the index is going to rise to $2,222. Who knows maybe the numbers will be even higher but perspectives of ETH are obviously favorable.
Today, Ethereum takes second place in the rating of the top cryptocurrencies after Bitcoin and is attracting more and more users for gambling o