The development of the iGaming industry is reaching new levels day by day. They have started moving into fields and markets that other industries can only dream of.
The best move was when they started accepting Cryptocurrencies as a type of payment providing their users with a unique experience and an additional layer of security.
The number of people using cryptos such as Bitcoin, Ethereum, and such is also rising each day, starting a huge trend in investments and unlocking their full potential.
The anonymity that they can provide is such a big point for many users out there. If you wish to remain private while you are betting, this method is certainly made for you.
You can look forward to large bonus offers, free bets, and a lot more things that will make you stay. When we talk about Ethereum sports betting there is even bigger potential compared to other cryptocurrencies. and your traditional betting sites.
As a software platform that issues the second largest cryptocurrency in the world and aims to create a decentralised version of the internet, Ethereum is a technology you definitely don’t want to overlook.
Ethereum Sports Betting
Ethereum is a technology that enables you to send cryptocurrency to anyone for a small fee. It also provides applications that anyone can use but no one can take down. It was one of the most important cryptos to appear when it all started in 2015. And it has gained so much popularity that everyone is wondering about its potential.
Another way Ethereum uses the advantage of its blockchain technology is by validating and securing all the transactions made in its cryptocurrency, Ether, with smart contracts.
Smart contracts automatically perform the transactions and other actions agreed upon by both parties, so users can conduct safe and reliable transactions with each other. This prevents any party from reneging on the contract’s terms.
Ethereum can be used for so many different purposes, but its popularity is due to online betting sites because of its wide range of advantages.
What makes it so unique and popular is the fact that it allows for other contracts and applications that are highly secure to be using its platform. This way provides more variety of what can be used for.
The Advantages Of Using Ethereum
The most common advantages would be the ones that are similar in using all cryptocurrencies. They provide extra anonymity and protection of personal data. So you can start betting without entering personal information or proof of identity to the Ethereum betting site.
The speed of transactions is certainly something worth mentioning as well. Together with lower processing fees when compared to more conventional betting sites. You can have access to your winnings and deposits in a blink of an eye.
For now, Ethereum is offered in a few sports betting sites, but that is less important. New betting sites are created each day and we predict that a lot of them will soon start offering more of it. You can deposit and withdraw funds, place bets on a great variety of games and sporting events.
The process of depositing at first may seem a little different than other cryptocurrencies but you will soon get used to it.
Just first select the amount you wish to deposit, and then you will receive an ETH transfer request from the betting site itself. After that, you can send Ethereum and it will appear straight into your account.
Safety When Using Ethereum
In terms of safety, there are some concerns with using all types of cryptocurrencies. Sometimes the lack of regulation can become a hard task to find a reliable betting site that accepts Ethereum as terms of payment.
But as we have mentioned before, the iGaming industry is changing and developing at an incredible speed that this issue will be solved very soon.
When opting to use Ethereum betting sites make sure to do your research. Look for player’s reviews, the site is user-friendly. Take time to read the terms and conditions and check if they have reliable customer support options available.
The actual transactions using Ethereum are made completely safe due to its complex and extensive encryption, but there are other things you need to take into account.
The thing that helped us most in our search was to check if there were any rankings for the sise published online. And also that the site has been successfully working for some time, and was not just built yesterday.
Where To Buy Ethereum?
Finding an Ethereum exchange will be an easy task to do. There are so many across the world. And they work in a similar way as a regular bank. You will be informed about all the procedures and it doesn’t take a long time.
When you are buying Ethereum you need to also take into account that the value of all cryptocurrencies is constantly changing. The amount you get now will not be the same as in 2 weeks.
The difference is value is not going to be that high, but it could drop or rise depending on the activity in the market.
It doesn’t hurt to read up a little bit about market predictions for the coming year or the history of the market movements. All the information is available online. And it could become a fun hobby checking each day on the price and imagining how much money you can make at it.
We personally believe the best thing that happened recently in the iGaming industry is their new openness to cryptocurrencies.
There is so much potential in it. Even if you are still a skeptic about using digital forms of money and like to feel your money in your wallet, you can’t keep your eyes closed to so many great opportunities Cryptocurrencies have brought to the world. It keeps changing so many different industries and fighting for the little man at the same time.
The most important thing that you need when using an online betting site or an online casino is a sense of safety and security. You want to make sure that your money will be quickly available, that you are dealing with a trustworthy and reliable site, and that your winnings will be added to your account in a blink of an eye.
When we check all the advantages that cryptocurrencies bring to the iGaming industry it seems that they have solved all three of the biggest issues. And doing that has greatly improved the user’s experience.
It doesn’t mean that from time to time you can’t find some not-so-reliable sites which will claim to offer cryptocurrencies as terms of payment.
There are thousands of different sites online and you need to be aware that not all of them are reliable.
Just use your common sense and if the offer is too good to be true, then usually it’s not. Ethereum and all the other cryptocurrencies are here to stay. And we are excited about all the amazing opportunities they keep bringing to us.