Best Ethereum Online Casino

The Rise Of The Blockchain

Satoshi Nakamoto, a mysterious person or group, outlined blockchain in 2008 and invented Bitcoin. The blockchain is a digital ledger that keeps track of every transaction occurring across a particular digital currency. Due to the nature of its cryptography, it is incredibly secure and virtually impossible to crack. The fact that Bitcoin is highly secure and globally distributed made it appealing to many. People are using Bitcoin for various applications, despite the fluctuations it has suffered throughout the years. The combination of being globally distributed and highly secure made Bitcoin and other blockchain-based digital currencies highly attractive almost as soon as they were invented. It is no wonder that the gambling industry worldwide was also quick to jump onto the Crypto train.

Finding Online Casinos That Accept Ethereum

You can find a large number of online casinos that accept Ethereum. And although only some online casinos will accept Ethereum, the currency is gaining popularity. It is being added as a deposit method to more and more casinos as the days pass. Because cryptocurrencies are decentralized, processing payments does not involve any official country or bank. Decentralization has its upsides and downsides. As casino players, we should be aware of cryptocurrencies' slippery nature and always ensure we are sending money to reputable brands only. 

Advantages Of Ethereum For Online Gambling

Several advantages come with using Ethereum for online gambling. The main benefits include:

1. Transparency - Cryptocurrencies gained a lot of popularity due to their ability to keep track of every transaction made using them without revealing the parties' identity. This makes for a great advantage when it comes to online gambling.
2. Security - You want to be calm when transferring funds from one end of the world to another. Cryptocurrencies and Ethereum specifically handle millions of transactions daily and are trusted by giants like Microsoft, IBM, and JP Morgan. To us players, it makes for an excellent deposit method to use.
3. More accessible, cheaper, and quicker - Ethereum promises to make faster, easier, and less expensive payments like all online wallets based on blockchain. Although these require a small amount of technical know-how, it is bound to get more comfortable with time, and it is worth it.

Disadvantages Of Ethereum For Online Gambling

Although Ethereum and Ether are promising, it isn't wise to adopt them without realizing the risks and issues accompanying them. There are several snags when it comes to using these technologies for online gambling. Some of the critical disadvantages are:

1. Ethereum is a very new platform, which means that the software behind it is pretty new, even if you compare it with Bitcoin. The inherent risk that comes with such new technology cannot be ignored. The risk is even higher if you're an early adopter of the technology, which is why online casinos adopting Ether are at a far higher risk than those who wait and figure out the problems and spend time to solve the loopholes.
2. Using Ethereum requires some amount of technical knowledge, and it is a known fact that even seasoned programmers are facing issues understanding the platform. *Since we originally wrote this article, things have changed a bit, and now using Ethereum is much easier than before.