Ethereum Casinos: Here Are the Top 5 in 2022
Ethereum online casinos are now becoming more popular like Bitcoin casinos. Since it’s the second strongest crypto, after Bitcoin, online casinos are now implementing it as a payment method. Check out this guide to know more.
Ethereum casinos, like Bitcoin casinos, have sprung up all over the Internet. Ethereum is the second most powerful cryptocurrency after Bitcoin, making it very appealing as a payment method in cryptocurrency-powered online casinos.
With that in mind, we have put together a comprehensive guide to Ethereum casinos, including how they work, what makes them good or terrible, and how to join one. We will tell you all you need to know before joining an Ethereum casino and playing your top games!
Top 5 Online Casinos Accepting Ethereum
Here’s a list of the top 5 online casinos that are accepting Ethereum at the moment:
Ethereum Casinos Explained
In essence, an Ethereum casino, with that in mind, we wanted to provide you with a detailed overview of Ethereum casinos, including how they work, what makes them good or bad, and how you can join one. Essentially, we will tell you everything you need to know before joining an Ethereum casino and start playing your favorite games!
Ethereum Casinos is similar to any other casino, except that it accepts Ethereum as a payment method. Everything else about the casino remains the same, which means you get the same casino games, platform, and chances to win. You can play the same games in the same way, but now you can deposit and withdraw Ethereum instead of fiat currency.
However, it is critical to understand that Ethereum casinos provide another payment option — smart contracts. Most other cryptocurrency casinos do not provide this option, but because Ethereum is both a platform and a cryptocurrency coin (Ethereum or Ether), online casinos that accept Ethereum as a payment method can also provide smart contracts.
Smart contracts are two-party agreements. A smart contract in the context of casinos is an agreement between the casino and the player. These contracts ensure that no party can breach a smart contract due to the benefits of blockchain technology. These contracts are ideal for online casino players because they guarantee that the casino will always pay the winnings.
Furthermore, because Ethereum transactions cannot be reversed, the casino cannot take it back once you have obtained it. All of this is written in the smart contract’s digital code and cannot be changed or annulled. Furthermore, smart contracts are open to the public.
IS PLAYING IN ETHEREUM CASINOS LEGAL?
Ethereum casinos already appear to be very appealing to players, but are they legal?
Naturally, the answer to this question depends on your location, but in USA, playing in an Ethereum casino is perfectly legal. Because cryptocurrencies are decentralized and not owned by a bank or the government, they are neither legal nor illegal in USA.
All of this means that if you want to play in an Ethereum casino, you have every right to do so. However, if you have never played in an online casino, you should be aware that they are not legal in USA, so if you want to play, you must find an offshore casino that accepts US players.
Fortunately, many offshore Ethereum casinos accept USA players, just as there are many Bitcoin casinos. Both of these cryptocurrencies are extremely popular, which is why many online casinos accept them as payment methods.
Advantages of Ethereum Casinos
Ethereum casinos, like all other cryptocurrency casinos, provide many of the same benefits, as well as some that are unique to this cryptocurrency.
One of the most significant benefits of using Ethereum is the anonymity it provides. Making payments to and from online casinos is always difficult due to bureaucracy and the complicated procedures that banks and most other payment options have. Because of the benefits of blockchain technology, most of this can be avoided with Ethereum. That is why you only need an email and no other identification documents.
IT PRACTICALLY OFFERS INSTANT PAYMENTS
Another advantage of cryptocurrency is that payments are almost instant. It depends on the coin and casino in question, but payments with Ethereum are always extremely fast. Deposit times typically range from a few minutes to a few hours, while withdrawal times typically range from one to twenty-four ( 24) hours.
No matter how long it takes, you will appreciate the fact that Ethereum transactions are free of charge. Because smart contracts and transactions are not enabled by a single organization or company, there is no need for fees. Naturally, this applies to both deposits and withdrawals, and because the service isn’t facilitated by anyone, the casino isn’t required to charge fees.
EDGES OF THE LOWER HOUSE
The lack of fees has a direct impact on the lower house edge in Ethereum casinos. To survive and profit, all casinos require a house edge, the size of which is determined by the casino’s expenses. Naturally, how much profit a casino wants to make has an impact. Because of this, Ethereum casinos can afford to have lower house edges, and the majority of them do, much to the delight of their players. As a result, a lower house edge improves your chances of winning.
Shortcomings of Ethereum Casinos
Ethereum casinos, like the majority of crypto casinos, have few drawbacks. The primary disadvantage is that they are not as numerous as other online casinos. Because not every online casino is willing to accept crypto as a payment method, finding a great Ethereum casino is always more difficult than finding a great online casino that only accepts fiat currencies.
Aside from that, the only drawback is that the price of Ethereum, just like the price of any other cryptocurrency, is highly volatile. However, for some players, this is a benefit because it allows them to hold on to Ethers until the price is high enough to exchange.
How to Start Playing in Ethereum Casinos
Opening an account in an Ethereum casino follows the same steps as in other online casinos. The main distinction is that you must purchase Ethereum and locate a reputable Ethereum casino.
Ethereum can be purchased on any cryptocurrency exchange, such as Coinbase or Bitstamp. After purchasing the desired amount, you must keep it in a crypto wallet. The safest cryptocurrency wallets are those that can be stored locally because no one can hack them unless they physically possess your device. For smartphones, some of the best Ethereum wallets are the Ledger Nano S, Exodus, and Jaxx Blockchain Wallet.
Once you have Ethereum, all you have to do is find a reputable Ethereum casino and sign up.
To find a good casino, you must first answer the following questions:
- Does the casino accept us players?
- Are immediate transactions permitted?
- Is there a good reputation for the casino?
- Is the casino’s game selection diverse?
- Are the bonuses worthwhile?
If the casino checks all of these boxes, you can sign up and begin playing!
The Bottom Line — Are Ethereum Casinos Any Good?
Overall, as you can see, Ethereum casinos are excellent online casinos if you find a high-quality one. They operate similarly to other online casinos, but because they use Ethereum, you can expect lower fees, better odds of winning, and faster payments.
There is no reason to avoid these casinos because they have very few disadvantages. Joining a good Ethereum casino is a great option if you are willing to invest in Ether.
Frequently Asked Questions (FAQs)
- What exactly are Ethereum casinos?
As you can see from this article, Ethereum casinos are similar to other online casinos, except that they accept Ethereum as a payment method and occasionally use smart contracts.
- Is it legal to gamble with Ethereum?
Of course, particularly in United States. This is because cryptocurrency is not illegal in USA, and many offshore casinos that cater to US players use Ether. So, if you have Ethereum and want to gamble, go ahead!
- Can my Ethereum get stolen?
The best way to answer this question is that your wallet is more likely to be stolen than Ethereum. Ether is stored in a digital wallet with credentials that only you know. So, unless someone discovers your credentials, you cannot lose that wallet. If the wallet is local, no one can access it unless they physically possess your device.
- Are Ethereum casinos trustworthy?
Yes, almost entirely, just like all other online casinos. There is nothing to worry about as long as they invest in their security. Because of the inherent safety of blockchain technology, it is nearly impossible for someone to steal Ethereum from you.
- Are there any bonuses in Ethereum casinos?
They, like all other online casinos, do. Naturally, the majority of bonuses in Ethereum casinos revolve around Ether and free spins.
- How can I get my Ethereum winnings from a casino?
This is done in the same way that you would with any other currency. Simply go to the Cashier and select Ethereum as your currency.