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Ethereum

The potential unleashed with the release of Bitcoin has been recognized by numerous entities at the time, but it was only a couple of years later when experts ultimately developed extensive ideas.

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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!

Ethereum is Accepted in a Lot of Online Casinos
Ethereum is Accepted in a Lot of Online Casinos

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.

These Casinos Offer Ethereum Deposits

How to Withdraw with Ethereum?

Withdrawals are processed much the same way as the previous transaction, only in the opposite direction. Hence, your personal crypto wallet should be input in the recipient box, with players having funds transferred from their player account.

Simply head back to the Banking page, select this payment method and specify the amount of winnings you would like to cash out. Afterwards, just enter your wallet address to get the tokens there and experience just as speedy transferring as before.

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Transfer Time, Fees, and Security

Like mentioned, the processes in the Ethereum blockchain are verified using proof-of-work, i.e. not one transaction can be performed and completed without participants getting insight into the event. The ability to build smart contracts has further boosted the security of this cryptocurrency. The fact that it was built much more scalable than its predecessor allows participants to perform all operations seamlessly, regardless of the current traffic volume.

In the spirit of cryptocurrency features known so far, Ethereum also handles all operations with a minute fee, solely established to eliminate scammers. After all, any cryptocurrency technology is ultimately aimed at making regular banking institutions redundant, and the same goes for their practices, fee charges included.

As for security, the Ethereum solution functions in a completely safe and anonymous manner. Players choosing to deposit and withdraw their online casino bankroll with this method will never have to share personal info, nor any other banking details. Plus, the authentication process performed in the background for each transaction separately further affirms security and eliminates the risk of double spending.

All in all, players at Ether online casinos get all the conveniences they require and then some, providing for one of the most rewarding gambling options, before players have even hit their favorite tables or slots!

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