Author:
Chris Hardy
Last Updated:
05/05/2022
Experiences:
Contributing Soccer and US Sport Editor
Experiences:
Contributing Soccer and US Sport Editor
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Table of Content
- Making a payment with the best Ethereum casino
- Withdrawal and deposits with Ethereum casino sites: average time scales
- The best Ethereum casino verification requirements
- The history of online Ethereum casinos
- Ethereum casinos compared to other providers
- Three essential facts about using Ethereum casinos
- Conclusion to our guide on Ethereum casinos
- The best Ethereum casino FAQ
Making a payment with the best Ethereum casino
Making a payment with the best Ethereum casino is about as easy as making a payment with the best Litecoin online casinos. This means to say that it is not difficult at all. All you need to do is get your hands on some Ethereum and go from there. Let’s take a look at some of the steps you will need to follow in order to get to the point where you will make your first Ethereum deposit into your casino gaming account:
Finding a reputable crypto exchange
The first point of order is finding a crypto betting exchange that you can truist. There are a number of options out there and you can find examples of these sites on our platform. Once you have found a crypto exchange that you think you can trust, it’s time to purchase some Ethereum. Once you have gotten your hands on some Ethereum, we can start heading to the next step in the process (you can do the next step first as well; the first two are fairly interchangeable).
Picking an online Ethereum casino
The next step requires you to choose an online Ethereum casino that you would like to use. There are a number of high-quality sites that you can choose from and we highly recommend that you check out our detailed reviews before you do so. Once you have picked an Ethereum casino site that you want to use, you will need to complete the sign-up process. This shouldn’t take you all that long as you are only really entering some personal information about yourself. Once you have done that, the operator is going to require that you send through a copy of your passport, I.D., or your driver’s licence. Any of these will do as they all serve as proof of identity.
Depending on the operator, it may take a day for them to verify your documents. It’s also very possible that they will need you to send through a copy of a recent utility bill or a bank statement as proof of residence as well. We promise, once that is done, then you are really done and dusted with the sign-up process.
Making your first Ethereum deposit
Now that you have gotten yourself some Ethereum and you are all set with the best Ethereum casino that you want to use, the time has come to make your first deposit. Just like you would with the best Dogecoin online casinos, you need to navigate to the payments page on the operator’s platform. Once there, select Ethereum as your payment preference, enter the amount you wish to deposit and then finally, enter your authentication code. Once you have done all of that, you have finally (and hopefully successfully) made your first Ethereum deposit.
Withdrawal and deposits with Ethereum casino sites: average time scales
Ethereum is one of the quickest cryptocurrencies in the world when it comes to making deposits and withdrawals. The processing times can vary somewhat depending on the network conjunction at the time of your transactions.
If you are making a deposit, it can take anywhere from 15 seconds to five minutes. Either way, these are rapid speeds for a cryptocurrency and when you compare it to some of the other crypto sports betting platforms we have reviewed, it is actually exceptional.
Your withdrawal speeds will be very much the same but again, there may be some variance based on the network.
The best Ethereum casino verification requirements
We have touched on this somewhat already, but what we still need to mention is that you will need to verify your crypto account with the crypto exchange you want to sign up to.
Much like you would with the standard online Ethereum casino, you will need to verify your identity with the crypto betting exchange where you will make your purchases. This is done in pretty much the exact same way: you will need to send them a copy of your standard I.D. document, passport or driver’s licence. You may, again, need to send a copy of a recent utility bill as proof of residence as well.
Just like before, this whole process shouldn’t take you much longer than an hour at most. The rest of the process is simply waiting for the crypto exchange to verify your details before you can get started with purchasing your own Ethereum on the platform.
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The history of online Ethereum casinos
Ethereum was conceptualized in 2013 by a man named Vitalik Buterin. Buterin saw Ethereum as the better alternative to Bitcoin. He believed that Bitcoin had the right idea but that it was going about it in the wrong way. This is why he had his general scripting language created, as it would handle the weight of all of the individual transactions in the blockchain instead of individual miners verifying each transaction (like with Bitcoin).
By 2015, Ethereum had gained ground with a crowdsourcing campaign which raised about $18 million. Since then, the cryptocurrency has taken off at a rapid pace and is currently ranked second on the list of most valuable cryptocurrencies, with 1 ETH now valued at around $3,000. In the grand scheme of things, Ethereum is still very young, which is why it is still going through the same growing pains that Bitcoin did. The issue is with scalability, but experts believe that Ethereum is on the right path to continue its rapid growth for years to come.
Ethereum has moved into the world of online casino gaming as well these days because of the sheer number of applications that the crypto has. The value of Ethereum is only continuing to rise, which is why more and more people are scrambling to try and get their hands on some.
Ethereum casinos compared to other providers
We have already touched on some of the benefits when it comes to using Ethereum as your option for making deposits. With that said, we still wanted to touch on how this deposit method compares to not only other cryptocurrencies but to other fiat currency deposit methods as well. So, let’s get to it:
Ethereum vs other cryptos
As we have seen, the deposit and withdrawal power of Ethereum is all but second to none. At anywhere between 15 seconds and five minutes, the speed of your transactions will be lightning-quick. The nearest crypto competitor in terms of speed would arguably be Litecoin, with its 2.5-minute blockchain movements. Assuming that all of your Ethereum transactions are as slow as they can be, then yes, Litecoin would be faster – but this is very unlilkey.
With Bitcoin, your transactions are almost always going to take about ten minutes to be verified and placed in the blockchain. However, Bitcoin does typically have the maximum deposit caps on the best crypto online casinos. The safety of Bitcoin is also by far the best in relation to the other cryptos. So, it falls to you to decide what you value: speed or safety.
Ethereum vs ewallets
If you are already comfortable using an ewallet that you are familiar with then there may be no persuading you to try Ethereum as your main deposit method instead. However, it’s still worth taking a look at the differences between the two. For example, PayPal is going to give you instant deposit and withdrawal speeds. While the speed of the transactions is certainly a benefit, PayPal is not going to give you the same maximum deposits as Ethereum, at least in terms of value.
So we are yet again given two paths: you can either go for speed or you can go for size. This will probably depend on the type of gambler that you are. If you consider yourself to be a high roller, Ethereum is certainly going to be the better option as it gives you more leeway with your maximum deposits. If you are a more casual casino gaming fan, then an ewallet like PayPal is going to suit you just fine.
Ethereum vs debit/credit cards
This is perhaps the trickier comparison in terms of the strengths that these two deposit options share. Firstly, both are speedy in terms of processing times, but debit/credit cards are faster as you can deposit and withdraw instantly. When it comes to deposit maximums, Ethereum probably just pips debit/credit cards at the post, but not by much. In all honesty, this one is going to come down to personal preference.
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Three essential facts about using Ethereum casinos
There are a ton of things we could suggest when it comes to using the best Ethereum casinos, but we have narrowed it down to three key facts that we strongly suggest you keep in mind when you find your ideal site.
Conclusion to our guide on Ethereum casinos
Ethereum casinos are springing up all over the place in Canada right now because more and more people are getting behind the idea of using the cryptocurrency for their casino games. It’s okay if you are a little hesitant at first. Take a look at more of our reviews of these Ethereum casinos to find out more about what they can provide for you that other fiat currency casinos can’t. There is no rush, but what we can say is that these kinds of online casinos are not going anywhere anytime soon. So it’s better to learn about them sooner rather than later.
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The best Ethereum casino FAQ
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