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Best Ethereum Casinos: What You Need to Know When Using Ethereum in Online Casinos

Back in the days, every player entering the casino floor depended on cash bill to make transactions. As we transitioned to the digital era, players became less willing to continue using cash in casinos. Instead, people started focusing on cashless transactions using various payment options such as prepaid cards, debit and credit cards, and e-wallets.

During the last decade, there was another paradigm shift that resulted in the creation of an entirely new currency that has taken the world by storm. The invention of Bitcoin in 2009 paved the way for other digital currencies, including Ethereum.

Ethereum digital currency was established in 2013 and launched in 2014. Vitalik Buterin, a former staunch supporter of Bitcoin, was the brains behind this new cryptocurrency. Vitalik wanted to create a cryptocurrency that was more functional, faster, and smoother than Bitcoin. He, therefore, founded Ether, a digital currency based on the founding blockchain technology, but with enhanced systems. Ether is not only a replacement for fiat currencies, but it is also used in the execution of smart contracts.

Obtaining Ether

Ether is different from the traditional fiat currency, and therefore there is a distinct process of obtaining, storing, and handling the digital currency. Thankfully, there are multiple ways of getting and storing this digital currency. The easiest way to earn Ether is through mining, buying from BTC-ETH exchange platforms, Ether direct transactions, and buying on fiat currency exchange platforms.

Once you’ve purchased Ether, you will need to securely store it before you can spend it on online casinos. Thankfully, Ether and Bitcoin are stored in almost similar digital wallets. You can choose from the wide variety of digital wallets available in the market today.

Using Ethereum As a Payment Option in Online Casinos

The gaming industry was among the first to embrace the use of cryptocurrencies. Nowadays, many online casinos are offering Ether as a payment option in their platforms. Therefore, players can perform transactions using Ether, including deposits and withdrawals, without worrying about the security of their funds.

Using Ethereum in online casinos is easy and takes a few minutes to complete. Once you’ve identified and registered with an online casino that accepts Ether, just head to the payment section and choose Ethereum as your payment method. The online casino will provide a digital wallet address for your casino account, and you can use this address to deposit funds to your account. This transaction takes seconds to complete, and funds will reflect in your casino account just in time to load your favorite game.