Ethereum (ETH) is rather new, even by cryptocurrency standards. Nonetheless, it is accepted across a number of betting sites. Ethereum is among the top cryptocurrencies, second only to Bitcoin in many respects. It is widely accepted as a secure payment method in the gambling world. It offers many of the advantages of other cryptocurrencies, with the differences between them being mainly technical.
More and more sites are accepting Ethereum. Which is great news for those looking for a fast, anonymous payment method with low-to-no transaction fees.
Gambling with Ethereum
There are a few steps to get started with Ethereum betting. Ethereum is a cryptocurrency and was founded in 2015. This means that it is managed by an open-source blockchain with a limited number of coins. If you want to use Ethereum, you’ll first need a crypto-wallet.
First, you go to an exchange. A few that are trusted are Coinbase, Poloniex, or Kraken. You can store your cryptocurrencies here, directly in the stage. If you want another, more secure place to store them, you can get a crypto wallet.
A few wallets that are safe are Atomic, Bread, Mycelium, and Exodus. Any of these will be great for buying and storing your Ether and then using them for betting.
Ethereum has seen huge success in recent years and is now one of the leading cryptocurrencies in the industry. The Ethereum blockchain network supports all kinds of new technologies, with Ether underpinning much of the new revolutionary blockchain-based software.
However, the system isn’t perfect and there have been quite a few newly released updates, which will cause waves in the industry. Moving from Proof of Work (PoW) protocol to that of a Proof of Stake (PoS), will drastically improve the system and pave the way for a great future for Ethereum. This will mean we see it more in sportsbooks and in mainstream payment structures. A very exciting time for those gambling with Ethereum.