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How to gamble with Ethereum cryptocurrency

Ethereum is the cryptocurrency with the most perspective, surpassing even bitcoin in its potential growth. It is popular enough to grow in rates steadily, farms relatively easily, and is 100% secure. With advantages like that, it’s no wonder Ethereum gamble options like those on https://ethereumgambles.com/ are now open for anyone who prefers digital gambling. Winning in ETH is not that different from investing, as the currency develops fast, and it is better to make use of low rates now to collect huge profits later.

How to start gambling with Ether

As a cryptocurrency, Ether uses a blockchain technology that doesn’t work like bank cards or regular billing systems. It means that whether you want to try gambling with ETH or withdraw winnings in crypto, you will need an Ethereum account and a special wallet that can hold your crypto on a mobile phone or a personal computer.

In Ethereum, two types of accounts exist. For gambling, it is vital to create an externally owned account. It can work with ETH and tokens just like a contract account does, as well as participate in progressive smart contracts. Also, it is completely free and is capable of initiating transactions, which is important for making an ETH transfer or a direct exchange.

This is how you create a new Ether address:

  • Choose an e-wallet that supports Ethereum.
  • Follow the simple wallet guide to generate a key. One part of the key will be private, and the other part will be public so that the others could partake in ETH exchange with you.
  • Write down the private part of the key and make sure it is kept safe. It is required for getting access to your ETH funds.

Depending on the wallet type and provider, the security algorithms may change. Some modern wallets like Argent don’t provide private key parts automatically and rely on email and mobile verifications for security. Many wallets rely on seed phrases known only to the holder to make the process faster and store the private key parts themselves. It comes down to what the users are concerned about trustworthy and safe, as every option is valid for Ether gambling.

Choosing an e-wallet for ETH

Most Ether wallets work much like regular banking applications. The users get access to balance control and transaction history, as well as managing new transfers and subscriptions, hooking with other apps, etc. There are also web widgets and websites that effectively function as digital wallets and do everything apps can, as well as physical wallets, mostly in the form of USB drives.

While a physical USB wallet is certainly the most secure option in terms of hacking as it will be kept offline for the most time, it is not recommended for gambling. For starters, hardware wallets are not always convenient for quick transactions. Then, there’s the price: while most e-wallets run for free, a small gadget designed specifically for holding crypto will cost you. Also, while physical wallets are superb when it comes to network security, they are the most vulnerable in any other dimension. A hardware drive can be easily stolen, lost, or damaged — and that’s not only a risk factor but also a heavy stress factor that is known to anyone who had lost their keys somewhere around the house at least once.

These are the recommended non-hardware ETH wallets:

  • Atomic Wallet. It is the ultimate way to manage crypto accounts both on a mobile phone and a desktop computer. With over 300 supported digital currencies and an enhanced interface, it is one of the best ways to deal with any crypto, not just Ether. In the future, new exciting functions will be added, such as full access to Atomic’s very own decentralized platform for crypto exchange — perfect for all the crypto gamblers out there!
  • With a built-in compound integration for lending ETH and collecting interest, Argent is a mobile wallet for those who want to manage their winnings and multiply them at the same time. It is one of the easiest mobile crypto wallets to get used to, so it’s a great choice for first-timers.
  • One of the best browser wallets, it is open-source and doesn’t rely on third-party services. While it takes time to get used to, experienced users will benefit from its decentralized crypto exchange service.

Note that there are no specific requirements for a type of wallet or a provider when it comes to gambling in Ethereum. Hundreds of e-wallets exist, with different pros and cons, and if something is not to your preference, just switch to another provider.

How to start betting with ETH

It is a great time for using ETH for deposits, as many online casino sites provide massive bonus promotions to encourage newly added Ethereum gamble options. Just for opting to deposit in Ether, the customers are granted rewards up to 400% deposit on the most generous websites, as well as huge stacks of free spins. Before making a deposit, don’t forget whether the ETH casino has a related promo right now, as crypto-themed promotions tend to be more profitable than regular rewards.

To make use of ETH funds, exchange Ethereum for casino tokens or internal coins. Most web facilities with crypto support do not allow managing deposits in Ether, as well as in any other currency. Instead, a special internal currency will be used. The casino coins (sometimes seen as casino dollars) give access to all the games on the site, including poker and other card games, and occasionally can be used for sports betting, even though most casino-themed websites won’t have such an option. On withdrawal, they will be exchanged for Ether or other cryptocurrencies of choice automatically. It is a convenient way to separate finance and play.

To make the first payment, connect the e-wallet to the casino account. Most websites have this option in the cashier or the overall payment section. Choose the Ether as the payment method, and follow direct guidelines to make your first transaction. Don’t forget to enter the promotion code and grab special bonuses!

Getting funds in Ethereum

If you don’t have enough ETH on your account, there are several ways to accumulate virtual funds for gambling. Here are the most common strategies:

  • Make an exchange. Ethereum is the easiest cryptocurrency to buy, and the price swings make it affordable — you just have to wait for the right moment to make a deal. Decentralized platforms are perfect for crypto to crypto exchange. Buying Ethereum with a bank card is also possible, but there are far fewer options, and the platforms can request higher commissions. The ideal way for those who need to buy Ether for money is to connect their bank cards with PayPal. As a web payment system, it is supported by most independent platforms with the best rates.
  • Make a withdrawal. If you already have accumulated impressive winnings, and your casino supports ETH withdrawals, cash out with Ether! Not only it is a safe and quick way to start gambling with Ethereum, but crypto withdrawals also tend to come through faster than bank transactions, and ETH is the fastest option.

Mining is still possible, but generally not recommended for people who just want to gamble with cryptocurrency. It is a relatively long process, and a profitable mining station requires both heavy money investment and regular maintenance.

Conclusion

It is incredibly easy to gamble with Ether now, and it provides unique advantages for the players as well. A simple and safe payment system, massive bonuses, and fast transactions make ETH gambling the ultimate gaming option at the moment. As the number of facilities that support Ether transactions grows, so do the reasons for creating your first cryptocurrency wallet and trying a new way to make a deposit.

Head of Content, reality TV watcher and lover of cookies. emma@shared.com