Ethereum vs Bitcoin
Introduced in 2015, Ethereum blockhain is gradually making its way to the top. At first, people were skeptical about the safety of this currency. In light of recent events with BTC and its division to Bitcoin Cash, as well as weighing all other challenges the first digital currency experienced, more and more are turning their heads towards other options. And Ether is among them.
The key question is, what is the main difference between ETH and BTC? While both are created as blockchains that guarantee safety, good transaction speed and anonymity, BTC has more signs and tasks of a traditional currency. Ethereum, in its turn, does not center around one company. Instead, many people across the globe contribute to protecting the network. In exchange for offering computing powers, these miners receive payment in ETH.
This blockchain also provides resources to exchange deals within the smart contracts system, which makes it look more like a community, rather than a payment system.
But what does it mean for a regular user? It means more safety, as it is hard to hack into the system protected by so many different participants. In addition to this, Ether is currently ahead of BTC in terms of speed due to many problems the first digital currency experienced with its withdrawal limits and long line of those willing to receive their money.
Ethereum Wallet & Account Registration
Wallets can be registered at numerous locations, so this should not be a problem. The same can be said about purchasing ETH. Once the wallet is set, dollars, Euros, and other currencies can be exchanged online at resources specializing in selling digital money for regular cash.
All that is needed to get an e-wallet is personal data, an e-mail, and the selected payment method for exchange, e.g. cards, transfers, or any other acceptable option. Exchanging one crypto currency for another is also possible online.
Depositing in casinos is as simple as with regular cash, and the standard process is the same. We, however, would like to pay your attention at an alternative method, for which Ethereum is so famous, and it is the signature smart contracts. In order to use it, find a gambling destination, which specializes strictly on the ETH blockchain. Forward digital cash not to the account, but to the smart contract, and this way the cashier of the brand will not have your funds, so you are not facing the risk of losing it.
Once done wagering, request finalizing the contract, and receive payouts based on the outcome of your gambling. Usually, cash-outs are instant, and protected by an open source code. The only circumstance under which the deposit or withdrawal will be delayed is if it is very big. Then the system will need to process it block by block, taking up to 15 seconds to confirm each. Depending on the sum you are dealing with, seconds can be added to minutes, and the final time will be individual.
Another important thing worth mentioning is be attentive when requesting payouts, in order to avoid sending ETH to the Bitcoin wallet, if you have one. The outcome of such a mistake is usually lost funds, because charge back is not provided. Other than that, the withdrawal procedure is very standard.
Gambling with Ethereum is legal and safe, taking into consideration the system’s approach to protecting the transactions. In some cases, it is even safer than using online bank accounts for regular currency because if the bank’s services are hacked, your accounts are facing the obvious risk, whereas hacking through the thick network of numerous contributors of Ethereum blockchain is impossible.
You can also protect your crypto savings by buying external devices and literally taking your money out of the internet and transferring it onto those devices. Funds that do not exist online cannot be stolen. This method is called Cold storage, and it is a service offered to all customers.
Ethereum Sites & Games
We gradually extend our database with casinos offering Ether as a currency, and all of these locations are complemented with professional reviews. The tendency for such places to bet and win is being instant play ones, with a possibility to download apps to play from iOS and Android devices. Game selection in such libraries is usually decent, with the majority of entertainment being slots.
Among operators that are already represented at KTC is Tigergaming founded in 1999 under a Curacao license. It offers a poker room and Sportsbook in addition to games, is adapted to several crypto-currencies including ETH, and has a good reputation among the online gambling community. Offers here are cashable, if the rollover requirements are completed on time, and the core of the lobby is entertainment provided by BetSoft, with other releases powered by Digital Gaming Solutions, Spinomenal, and Visionary iGaming.
FREQUENTLY ASKED QUESTIONS
Both options have pros and cons to weigh before making a final decision. Everyone who wagers in crypto-currency, whether it is BTC, BCC, Dogecoin, Litecoin, or the reviewed one should keep in mind that it is always volatile money, with the greatest stability demonstrated by Bitcoin, so that those staking cash can be somewhat sure that the price between bets stays more or less the same. On the other hand, Ether is named the 2.0 version of BTC, and already leads by simplicity, cheap service fees and speed. Some users prefer to look for operators that allow players to convert digital currency into chips for wagering and then for preferred currency right before a withdrawal, although this method might have its downsides, as well.
The “hash of power” is already proving to be a good protection of funds. This term refers to the effort miners provide to validating payments within the system. With so many contributors involved, it is becoming more and more difficult for third parties including the government to rewrite the actions within the blockchain. Considering all this, the only question that remains open is – is the website you selected to wager at safe or not? To check the background, look for the reviews in our database, or read feedback from the registered users on gambling forums before sending your funds to any gambling cashier.
Yes, of course. More and more titles focused on crypto-currency are being opened, and they offer all types of bonuses. What is more, many of the already existing locations extend their promo tabs with offers for digital currencies including Ether.