The crypto currency Ethereum has recently made almost as many headlines as its predecessor Bitcoin. The online casino scene has also become aware of this and has included Ethereum in its list of payment methods in order to make payment transfers easier for customers. On this page you will find instructions on how to use Ethereum in online casinos. Note: You cannot buy Ethereum in online casinos!
Which casinos accept Ethereum? – November 2019
The crypto currency Ethereum in online casinos
Ethereum is a relatively new, innovative computer platform that has seen enormous growth spurts in 2017. It was originally developed in 2013 by Vitalik Buterin, who at that time had a simple but not easy plan.
The groundbreaking, decentralised blockchain technology was still in its infancy, but some clever minds already recognised its potential. In July 2015, it finally went online, with a base capital of 11.9 million ethers. Ethereum is organized with the help of the “Ethereum Virtual Machine”, which uses a decentralized network to create, manage and execute scripts and thus create its own blockchain.
Ethereum differs from Bitcoin in one crucial point, which we will come to shortly. First of all, it should be noted that Ehtereum is a platform, while the actual crypto currency is called “ether”. Ethereum is the platform that produces ether.
Ether can be transferred back and forth between participating computers or accounts. In addition one can pay thereby participating computers with the help of a Smart Contracts in such a way specified. Ether is the second most popular crypto currency after Bitcoin.
But ether can be significantly more than Bitcoin. While it is based on the same blockchain principle – a decentralized system that stores all transactions and units of currency – it goes one step further by being able to control and execute computer programs.
The connection of Ethereum to online casinos
The Ethereum course experienced several explosive increases in 2017. Thanks to the rapidly evolving technology, the emergence of crypto currencies (see also Bitcoin Casinos) has led to a technological quantum leap. Online casinos have recognized this development and started to accept crypto currencies as means of payment. So far it is only a handful of casinos, but their number is growing steadily.
All online casinos that work with Ethereum try to give you the feeling of visiting a real casino in the City of Longing, as you will eventually actually do.
We have listed the most important factors to consider when using Ethereum Online Wallets for your casino visit on this page.
Deposits with Ethereum
Step 1: Register with an Ethereum Casino and find the deposit option
To make a deposit, you first need a casino account. So select an Ethereum Casino and go to the Deposit page. Choose Ether or Ethereum as your payment option.
Step 2: Make a deposit of the amount you have chosen
Enter the amount you would like to deposit.
Step 3: Transfer Ether
When you are finished, send the order to the address Ethereum Casino offers you. Make sure everything is spelled correctly and authorize the transfer.
Step 4: Wait for the transfer to be confirmed
If you have completed the transfer, just wait for the process to appear in your Ethereum personal account.
Withdrawals with Ethereum
Step 1: Go to the page of your casino where withdrawals are made
You have won? Congratulations! Now comes the reward. Go to the Payout Options screen and select Ethereum.
Step 2: Enter the amount you wish to withdraw
Type in the amount you would like to have available and click the button to confirm.
Ethereum Casino Games
When you choose an Ethereum Casino, you will have access to the same selection of games as other casinos that do not accept Ethereum.
So you can expect the full range of online slots, a selection of casino table games, several variations of blackjack, the traditional James Bond game Baccarat and of course the good old red or black, also known as roulette.
Games such as Pai Gow Poker and Caribbean Stud have also become a natural part of the gaming offerings of every good online casino these days. Many online casinos that accept Ethereum as a means of payment have responded to the wishes of their guests and also offer their games for mobile devices.
Now you no longer have to wait until you are at home, but can dedicate yourself to your favourite games on the go, provided you have a SmartPhone, a tablet or something similar with you. But who doesn’t.
Ethereum – Glossary
The topic of crypto currency is admittedly quite complicated. To make it easier for you to understand, we have explained a few terms here that you will come across again and again in this area.
A data set that is continuously expanded and records all processes that are related to a crypto currency. It is quasi an accounting without an accountant. The concept is so new, that today it is the oldest active blockchain of Bitcoin.
It stands for “Decentralized Autonomous Organization”; a DAO does not need conventional committees like for example a board of directors, because it is organized decentrally. The structure of the organization is laid down in a Smart Contract.
Supposes “Decentralized Apps”, which basically look like a website, but are not connected to a server, but to the Blockchain.
Name of the currency that produces Ethereum. In fact, the platform can be used to generate a large number of other currencies that can be traded as so-called “tokens” for ether.
Also called crypto money, the term digital means of payment, or virtual money. Digital encryption is used to make the currency and all transfers made with it more secure than with conventional means of payment.
A principle for creating new currency blocks. Individual members of the network join together to make their computing power available to the network. In return, they get the chance to receive a part of the units at the next new issue.
Nodes are “nodes” or nodes of a network, i.e. the participating computers.
These are computer programs or protocols that “map or review contracts or technically support the negotiation or execution of a contract” (Wikipedia). This makes the conventional paper contract obsolete.