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Benefits & Drawbacks of Using Ethereum For Online Gambling

With how quickly cryptocurrency is gaining popularity it should come as no surprise that more and more people are wanting to place bets with it. Ethereum is one of the better choices considering it is some of the most popular virtual money used today. This means that it is quite stable compared to others that are similar and a fair number of casino sites support it. Here are the biggest benefits and drawbacks of using Ethereum at an online casino.

Main Benefits

  • Transfers typically happen immediately so you no longer have to factor in that wait time when you decide to take your winnings out.

  • Compared to traditional money cryptocurrencies are very secure, making it pretty much impossible for a third party to access the transaction.

  • When working with cryptocurrency it is very easy to remain anonymous if you wish, as no personal details are required to make transfers.

  • Bonuses work in much the same way that regular currency casinos do. You are able to attain bonuses when signing up and through other promotions, but wagering requirements and time limits need to be kept in mind.

Several Drawbacks

  • Not a huge number of casinos offer support for cryptocurrency. Unlike Bitcoin, integrating support for Ethereum is not very straight forward.

  • Ethereum is also slightly more complicated to use compared to some other crypto options that are out there.

  • Ethereum unlike Bitcoin has changeable transaction costs, which can often be a lot larger than others.

Recommended Brands

  • Casino Friday: This fairly new gambling site features a large game collection from developers like Microgaming, Pragmatic Play, and Evolution Gaming. The platform also supports fast cryptocurrency transfers in less than an hour. The casino is compatible with mobile too.

  • Katsubet: This betting site supports a large withdrawal limit of $5000 per week or $15000 per month. The casino provides a great variety of games from developers like Elk Studios, Betsoft, and Thunderkick. Besides Ethereum a fair number of traditional currencies are supported like the Euro, New Zealand Dollar, and the Japanese Yen.

  • Wazamba: This casino features games from top tier developers like Evolution gaming, Play’n Go, and NetEnt. The website also supports sub-hour transfers when using cryptocurrency and bank cards. This operator offers new players a 100% welcome match bonus of up to $500 + 200 free spins.

If you have ever wanted to know more information about Ethereum before making the decision to start betting with it, now you know. Like most cryptocurrencies, Ethereum makes it easy to make transactions with near-instant transfers as well as increased security for peace of mind.

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