The development of cryptocurrencies has brought a lot to the iGaming sphere. A lot of coins have started to gain popularity among the players. This includes Ethereum. With it, they started to create separate games like ethereum dice and ethereum blackjack.
But why did Ethereum become so popular? All because Ethereum is a distinctive currency for deposits. It has many advantages that make it easier for players to play on the platforms.
These advantages are what we are going to talk about now. In this article, we will look at the pros of Ethereum for online casinos.
What Is Ethereum?
Ethereum is the second most popular cryptocurrency in the world. It is second only to Bitcoin. It was created by programmer Vitalik Buterin in 2015.
It is essentially a decentralized, open-source blockchain system. It allows the creation of smart contracts and decentralized applications. These features have led this currency to immense popularity. Developers can build decentralized financial services, gaming applications, and more.
Unlike Bitcoin, which was only designed to buy and sell, Ethereum has become the heart of a deeper approach to cryptocurrencies.
Ethereum Pros For iGaming
Now let’s take a look at why this coin is a good fit for online casino play.
Fast Transactions
The most important thing that Ethereum brings to the gaming industry is speed.
This coin has a great transaction speed. It is much faster than other cryptocurrencies, what to talk about traditional payment methods like credit cards.
All this is thanks to the blockchain technology that allows you to conduct transactions in a couple of minutes. This is great for players who want to make a quick deposit or a quick withdrawal. Plus, with the ETH to USD conversion rate easily accessible, players can seamlessly track the value of their winnings.
Imagine you hit the jackpot and the money is already in your wallet within a couple of minutes. Great.
Low-Cost
This plus works in tandem with the previous one. Unlike other payment methods, Ethereum asks for a minimal transfer fee.
This allows you to save a lot of money. First of all, you will make more deposits. In the second place, you will get more net money when you withdraw. This is a very big plus that many casino users like.
Everyone likes to save money. And when it is combined with speed, it is a total hit.
Smart Contracts
We’ve already mentioned this technology above. And it is very important for Ethereum’s popularity.
Smart contracts make it very easy to ensure fair play and automate payment processes. Essentially, it’s an agreement that executes itself. No intermediaries.
This improves trust in the casino and eliminates the risk of manipulation by the platforms. If you see a platform utilizing such a system, you can have peace of mind.
Global Accessibility
You can make deposits with Ethereum anywhere in the world.
You don’t have to think about banking regulation or anything else. All you need is a wallet with that coin and a willingness to play. That’s why a lot of bettors use this coin because of its worldwide availability.
And now more and more online platforms have deposit features using Ethereum.
