Is ETH an Advantage in Casinos?
Talking about Ethereum, it should be noted that it is available in almost all online crypto casinos alongside Bitcoin, Dogecoin, Litecoin, and Bitcoin Cash. The cryptocurrency is indeed advantageous for Ethereum gambling sites, offering numerous benefits from astonishing speed to security. Also, Ethereum has a large blockchain network.
Cryptocurrencies in general are characterized by increased speed of transactions compared to fiat currencies. It can be said not only about Ethereum but other digital coins as well. One of the main reasons is the absence of a centralized authority. When it comes to cryptocurrencies there is no government or central banks that would observe the transactions. Everything happens between sender and receiver. While most of the withdrawals in online casinos take several working days to proceed, with cryptos everything happens rapidly.
Players should not forget about the speed of blockchains: if the generation of a new block in the Bitcoin network is on average about 10 minutes, then at Ethereum this figure is only 13-14 seconds, making it one of the fastest (if not the fastest) crypto in the world. It is a huge relief for Ethereum online casino players who want to receive their winnings as soon as possible without further delay.
Large Blockchain Network
Ethereum has its platform and blockchain technology. It also has an individual programming language. Ethereum is considered a bitcoin fork. It is a platform that allows you to create online services that operate based on blockchain. It is not that cryptocurrency Ether is a standard decentralized digital coin. The fact is that its platform can be used to create different things. The language of ether is similar to many programming languages. The digital coin has an open code.
Ether has a whole list of advantages. It has a bitcoin-like blockchain technology, but each transaction is 20 times faster. The system is well protected from hacking making gambling with Ethereum beneficial for players.
A special application allows you to interact with the Ethereum blockchain directly from the browser. In simpler words, the Ethereum blockchain is a platform that allows you to carry out asset transfer operations between network members and create dApps based on smart contracts.
Trump card for the majority of cryptocurrencies is security. Ethereum is no exception, enjoying superior security compared to other ones, which makes it a popular payment method for casino players.
The record of the transaction in the Ethereum blockchain is simultaneously entered into the registry, stored on more than 11,000,000 computers around the world. To change the transaction record in the Ethereum registry, you need to change it on all computers where the above-mentioned registry is stored. Since its inception, no one has succeeded and is unlikely to succeed in the foreseeable future. Thus, when visiting the best ETH casinos you can be calm about your safety.
If you do not lose or give a private key to a third party, then you will be the sole owner of the cryptocurrency. It is practically impossible to hack Ethereum. As soon as you deposit funds into your account, unless you give access to someone else, these funds will remain untouchable.
What Are Some Disadvantages?
Every cloud has a silver lining. There is no such thing in life, which only has positive aspects. The same can be said about cryptocurrencies. While we have been talking mostly about the advantages of using Ethereum for gambling, there are some minor disadvantages worth mentioning. The obvious one is volatility.
Volatility is the degree of fluctuation in the value of a financial instrument. The cryptocurrency market is highly volatile. Users playing casino games with this cryptocurrency are sometimes hampered because of its volatility. Price dynamics can vary by up to a few tens of percent. For classical financial instruments, such changes are enormous, whereas for the crypto market it is a common occurrence.
All the participants of the crypto market fear that they do not know what to expect from it. Ethereum is also a very volatile currency. Its value can be $3,000 and at the very same day could surge or decline to $4,000 or $2,000 respectively. Of course, it hampers a lot of casino players to play with Ethereum.
One of the major reasons is the absence of government regulation. The currency of their country to varying degrees receives support, stimulation from the state. As for cryptocurrencies – they are decentralized and are not regulated fully by the financial authorities of the states.
3 ETH Games Designed for Gamblers
Besides Ethereum gambling the number of games based on Ethereum is growing increasingly. It is not a surprising fact, as when a particular cryptocurrency becomes popular among people, numerous games are created to attract more customers. Even though the games listed below are not from the category of gambling (except Etheroll), still a lot of users play them.
Released in 2017, CryptoKitties is the first major game on the Ethereum blockchain. In short: CryptoKitties is a decentralized analog of the game Tamagotchi, popular in the 90s. For the Ether, you can buy a kitten with a certain set of characteristics and genes and grow it. After a few days of the launch of CryptoKitties, the popularity of the game soared so quickly that it was able to suspend the Ethereum network, and sales exceeded millions of dollars.
CryptoKitties has nothing in common with gambling games, but its popularity stormed crypto games very quickly.
Etheroll is a provably fair dice game available in some of the best Ethereum casinos. Thanks to the Ethereum blockchain, every cast of dice is completely random and cryptographically protected. The platform also released its DICE token.
In general, when we are mentioning crypto games, provably fair is a unique concept associated with them. It means that every game’s result can be checked and verified. The online crypto casino does not hold an unfair advantage.
This is an interactive game that uses smart contracts to allow the user to buy an electronic version of any country in the world. Once you have bought a state, you are responsible for its citizens and this automatically raises the country in value. However, the players should be careful because if someone wants to take over your country, they can pay double the price and get it. You will lose ownership, but in return, you will receive ETH tokens. The step of making this game was taken as part of a marketing strategy to attract new users.
Checklist For the Best Ethereum Casino sites
Considering the rapid development of the crypto gambling industry, it is not so easy to choose which particular ETH casino to give preference to. Before you make a decision, it is worth paying attention to some important qualities of the crypto gambling website. Major indicators are reviews of users, selection of games, customer support, and bonus policy.
Check User Reviews
The experience of different users is pivotal. How easy it is to use a particular ETH casino? Is it fair and reliable? In the communities, there is always an opportunity to ask more experienced users from different countries about different aspects of certain resources. A truly holistic picture of the use of the casinos is based on personal experience, including in various controversial situations. Casino users are always willing to share information about all the nuances and intricacies they have encountered.
Always check authentic Ethereum casino reviews to have more insight into its functionality.
Compare Game Variety
The number of games on the site plays a huge role. More games mean more audience coverage, and of course more revenue. Someone likes video poker, someone likes bingo games, and someone prefers crash gambling. However, the casinos do not do these games for anything – for them, it is necessary to pay the developers. If a crypto casino is ready to pay decent costs, providing a large range of entertainment, it intends to work for a long time, within the laws and regulations.
If in addition to casino games, there are also betting options for players then it is even better.
Test the Customer Support
The work of technical support is important for the user of ETH casino, especially at the beginning of the development of the site. It is important to pay attention to factors on the best Ethereum gambling sites such as responsiveness, quality of care, and communication methods such as email, live chat, phone. The more attention a crypto casino pays to its service of technical support, the more responsible its attitude is to work in general, and the more promising the game on the site will be.
Ideally, customer support should be available around the clock, so that players from different time zones could easily resolve the issues they have.
Research the Bonuses
Bonus policy on Ethereum casinos is a very important point. More or less almost every casino offers a promotion policy to its users, but the key difference is in the nuances – the size and types of bonuses, additional conditions, wagers, and so on.
Most likely online crypto casinos offer users deposit bonuses. With it, you get additional money on the first several deposits. Free spins could also be available as a part of an Ethereum casino bonus. VIP clubs are also popular in online casinos. However, it is a rare thing to come across no deposit bonuses.
A good bonus system means more users and it is possible to retain the existing ones too.