A truly progressive mind is one that uses what advantages this invention has, and turns them into a greater good, and that is exactly what Vitalik Buterin did with his invention of Ethereum.
Using the underlying digital ledger tech of Bitcoin – the blockchain, which Buterin understood perfectly considering he delved into the Bitcoin Magazine, he invented an advanced solution known as Ethereum.
The history of Ethereum
It was created in 2013, but only released to the public in 2014, when it took off immediately. This cryptocurrency is more than just an attempt at substituting fiat, centralized legal tender – it is a platform for running so-called smart contracts. These are contracts with set preconditions, where each party needs to meet a specific requirement in order to fulfill their part of the deal, and get their share of the set reward, usually paid out in Ether.
Ether, on the other hand, is the currency fueling the operations performed on the Ethereum platform. It is its currency, but also a means of ensuring smart contracts are executed properly. Still, online gambling enthusiasts are more interested in its former function, as it is nowadays available as a payment method at a range of casino sites. Just make sure to get enough ETH to cover your banking needs, find a suitable operator that meets your gameplay preferences and get started!
How to Deposit with Ethereum?
Once you have found a suitable online casino and registered for an account, the next step towards your real money gambling is funding it. This is where Ethereum steps into the picture, providing its token -Ether – as a cryptocurrency.
The first thing to do is access the Banking page of your account, and select this banking option. Assuming you have already acquired the amount of Ether you will need for your online gambling experience, you also have it stored at a wallet of your choosing. So, upon selecting this cryptocurrency as a payment method, players will be given the respective crypto wallet address for their account. Copy it exactly as it is to avoid errors along the way and head to your wallet, be it downloadable app, online platform or hardware. Input the address in the box designated for recipients and specify the amount you’d like to transfer.
All that’s left at this point is to confirm the transfer, which will cause a chained reaction in the Ethereum blockchain in order to verify and complete it. The whole thing is done in the background, and only takes about a second in real time for the coins to reach their destination.