Best Ethereum Online Casinos 2024
Table of Contents
If you're new to gambling, you might wonder what Ethereum casinos are. But, before we get to that, you need to understand that there are different types of payment systems, and every player in the world has their specific needs. Among these are anonymous and fast transactions. So, is this where Ethereum casinos come in? Yes. Ethereum casinos are generally online casinos that allow users to pay using a digital currency. This is a new currency that is not based on fiat. Fiat currencies are what we use on a daily basis. A good example is your local currency. Then how do you deposit or withdraw in these casinos? You use cryptocurrencies. One of these digital currencies is Ethereum. So, in this Ethereum casinos review, we'll discuss the coin in general, its availability in the market, and show you how to make payments in such casinos.
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Ethereum facts
| ✅ Name | Ethereum |
| 📊 Category | Crypto |
| 🌍 Geo | Worldwide |
| 💱Currency | ETH |
| 🌐Site | https://ethereum.org/ |
| 📅 Established | 2014 |
| ➡️ Deposit | yes |
| ⏱️ Time to deposit | Instant |
| ⬅️ Withdrawal | yes |
| ⏳ Time to withdrawal | Instant |
General information about Ethereum
As mentioned, the invention of cryptocurrency was primarily to create a virtual currency that didn’t need a middleman controlling it. Bitcoin achieved this. But that wasn’t the end of similar projects. In November 2013, a programmer named Vitalik Buterin released a white paper explaining Ethereum and its workings. However, it wasn’t on the market until July 2014, when the official sale of the token began.
Generally, Vitalik created a decentralised blockchain platform where computers in a network could securely execute and verify application codes. What is more interesting about his project is that the network provided other features besides a digital currency. Unlike BTC, Ethereum allows other platforms to build projects (applications, organisations, and digital assets), launch them, and operate on its blockchain network.
If you have been an avid follower of crypto content, then you have heard about smart contracts. But what exactly are they? Smart contracts allow users, such as a real money online casino that accepts Ethereum and a player with ETH coins, to transact amongst themselves without an intermediary. The catch in this coin is that you must sign your transactions to authorise it. You must also spend the platform’s currency, commonly known as Ether, to pay for processing transactions on the network. So, generally, smart contracts allow you to create self-enforcing transaction agreements with conditions that can be mathematically defined.
Like Bitcoin, you don’t need to worry about manipulated transaction records or anyone cheating the system. This is because Ethereum ledgers are nearly impossible to change, and you can verify the posted transaction data.
Key features of Ethereum in online gambling
You might be wondering what Ethereum has to offer when it comes to online gambling if you’re new to this kind of payment option. Undoubtedly, real money crypto casinos are the future of the industry. This can be linked to the numerous essential features that cryptocurrencies such as Ethereum offer. Below is a brief overview of some features that make this digital currency a great alternative to fiat currency and conventional banking methods.
Anonymity of Ethereum transactions
Some players would prefer to enjoy their favourite online casino games and go about their business without a trace of their gambling activities. Funding your casino account using Ethereum will definitely grant you this. You can be assured of privacy, and your information will not be revealed or shared with your preferred online casino.
But you might be wondering how this is possible if the transactions are publicly visible and verifiable. That’s just it. Only the transactions are shared with the public. The identities of the transacting parties remain hidden. In blockchain transactions, each user is assigned a series of random characters unrelated to their real identities. Therefore, your public address in the ledger instead of your real name will identify you.
Fast transactions
Some fiat payment options, like e-wallets, offer fast transactions. However, their transaction times are nothing compared to cryptocurrencies. This is because, unlike traditional payment methods, which may take a few minutes or hours to process, Ethereum payments are completed within a minute or less.
The lightning-fast transaction time can be attributed to blockchain technology, which cuts the middleman when verifying, authorising, and recording transactions. Transaction charges might also contribute to the transaction processing speed in some cases. This means that if you pay a higher transaction fee, your payment will get priority and be processed quickly. An opposite approach will be applied if you pay lower transaction charges.
Decentralised nature of Ethereum transactions
As previously stated, Ethereum transactions are stored on a distributed ledger supported by many computers in a network. But what does this mean? Unlike in the fiat banking system, where an intermediary (government or bank) controls everything, including issuance and circulation of the currency, Ether has no central authority governing it. Everything is done on the blockchain network. Therefore, control is shared among Ethereum users, and they can verify the transactions, including casino deposits and withdrawals.
Aside from giving control and offering transparency to users, having a decentralised ledger reduces the risk of fraud and data manipulation. You’ll have to alter the data in all the computers in the network if you wish to edit the transaction details, which is nearly impossible. However, this feature can also present difficulties like money laundering.
Ethereum casino market coverage
One notable feature about cryptocurrencies, in general, is that they have no geographical restrictions. This means that the tokens are available to everyone worldwide. However, different jurisdictions have varying opinions on cryptocurrencies and their regulations. For instance, there are some countries where you are not allowed to possess a single crypto coin. In other countries, nobody will bother you if you decide to trade or pay for services such as online gambling using your Ethers.
Mainly, most jurisdictions have banned the use or possession of Ethereum because of its decentralised nature. There’s no central authority governing it. This poses a threat to traditional financial systems and also promotes illegal activities such as money laundering. Despite the restrictions and bans, it’s become nearly impossible to eradicate them.
Regarding Ethereum’s market coverage, numerous gambling-friendly countries recognise the coin under the law. For instance, the USA and Canada have crypto-friendly laws. Similarly, most European jurisdictions have allowed crypto platforms to operate in their territories. Other gambling-friendly countries that have embraced Ethereum include
- Japan
- The United Kingdom
- Ukraine
- Gibraltar
- Malta
- Germany
- Hong Kong
- Georgia
- Estonia.
There are other countries that are yet to declare if people may possess or trade in crypto. In effect, there are a lot of uncertainties around Ethereum concerning legal matters. Some of these countries are Argentina, Kenya, Nigeria, Mauritius, the UAE, Tanzania, and Tunisia.
If you live in a country that allows the use of crypto, you can deposit or withdraw from your account using Ethereum. You will just have to find online casinos that accept Ethereum, then embark on your gambling journey. However, make sure that you have ascertained that the online casinos are legit before you join. You will find that some of the online casinos that take Ethereum also allow their players to exchange the cryptocurrency for their preferred fiat currency and vice versa.
Where to buy Ethereum for online gambling
As we have mentioned before, Ethereum is a digital currency. Therefore, buying the token is done the same way you’d visit a forex bureau to swap your local currency to a foreign one. The only difference with digital assets is that you’ll be exchanging your fiat money for your ideal cryptocurrency. In this case, it’s Ethereum. However, you cannot buy the coin from the physical bureau or an online store.
There are special platforms designed for crypto trading. They are commonly known as crypto exchanges, and they allow users to buy and sell cryptocurrencies. However, there are some trading fees that you must pay to the crypto exchange for processing your transaction. If you’re new to trading, the buying procedure can be a little overwhelming, but you don’t have to worry because we’ll cover that later. Some of the most well-known crypto exchanges include Binance, Bybit, KuCoin, Coinbase, Crypto.com, etc.
Some online casinos that take Ethereum as a payment option also allow players to deposit through crypto payment gateways. This eliminates the registration process on exchange platforms and allows online players to buy cryptocurrencies directly from them through the operator’s page. Some popular payment gateways you might encounter include MoonPay, CoinsPaid, BitPay, etc.
Binance
This is one of the leading crypto exchanges in terms of liquidity and daily transactions. The online platform supports over 350 cryptocurrencies, including the most popular coins like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Dogecoin (DOGE), etc. Binance also has a native coin (BNB), which users can use to pay for transaction fees on the platform. It also offers a digital wallet where you can store your digital assets, like winnings from your favourite Ethereum casino. The online platform is well known for its cost-effective transactions and vast collection of cryptocurrencies.
All transactions performed on it are also highly secure. Thus, you don’t need to worry about losing your funds or your info being leaked to unauthorised parties like online casinos. To make it easy for its users, Binance offers its services through a mobile app and a webpage. You can start buying your Ethereum coins for online gambling on Binance as soon as you sign up for an account and link your preferred payment method.
ByBit
This is a trading platform that began operations in 2018. It is a secure and reputable crypto exchange where you can trade altcoins, NFTs, and cryptocurrencies such as Ethereum. The online platform implements top-quality security, ensuring all transactions are not prone to online fraud. For extra security, Bybit offers its users a two-factor authentication feature. If you enable this function, all payments will be only processed if you authorise it using the valid authenticators.
The main catch with Bybit is that it has partnered with Mastercard to offer its users a debit card similar to the traditional one. Therefore, you can access your Ethereum coins anytime and make purchases, including funding your gambling account using the card. You can buy Ethereum through the platform’s mobile app or in your web browser.
KuCoin
KuCoin provides an online platform for crypto enthusiasts to swap their fiat money into cryptocurrencies. It also allows crypto-to-crypto trading for users who are crypto-savvy. Generally, the exchange offers over 700 popular coins worldwide, including Bitcoin, Ethereum, Solana, and Litecoin, among others. KuCoin is widely available and covers over 200 countries. Therefore, you can buy your Ethereum from anywhere in the world as long as you have a user account.
Like most crypto exchanges, KuCoin has a native wallet allowing you to manage your digital assets efficiently. This means you can withdraw your winnings directly to the wallet from real money online casinos that accept Ethereum. In addition, it offers a native coin (KCS) where users can share profits with the company if they invest in it. You can enjoy numerous benefits when holding the coin. These include trading fee discounts and exclusive access to initial coin offerings.
How to buy Ethereum for online gambling
Now that you know where to buy Ethereum, the next step is to look at the process you will follow to make the purchase. First, you will have to pick a crypto exchange. The procedure for purchasing Ethereum is simple, but It’s not standard for all crypto exchanges. These are some of the common steps you’ll find.
- Your first step will be to sign up for an account with your selected trading platform. This step will require you to provide your email address.
- You will then proceed to verify your identity. You must provide copies of your ID, passport, or driver’s licence at this stage. Some exchanges might require personal photographs (a selfie).
- After identity verification, you will choose and add a funding method. This is generally the payment option you’ll use when buying or exchanging the coin for fiat currency. Depending on the crypto exchange, you can add a credit/debit card, an e-wallet, a mobile wallet, or a bank transfer.
- Once you’re done linking your banking method, the next step will be to start a trade through the P2P feature. So, you’ll open the P2P page, select Ethereum from the list of cryptocurrencies, and click the Buy button. After that, you will enter the amount you wish to buy. The figures can be in fiat or crypto form.
- The last step will be to complete the trade by clicking the appropriate button on your selected exchange platform. This can be ‘Buy Now’ or ‘Buy Ethereum.’ Afterwards, you’ll be required to send the required payment to the seller, and they’ll release the coins to your wallet.
How to store your Ethereum for online gambling
Just like you’d keep your cash in a wallet or a safe to avoid losing it, you must also find safe storage for your Ethereum. You can keep your coins in crypto wallets, which are basically digital wallets that allow you to access your coins easily. When you get the wallet, you’ll be assigned public keys, which feature your Ethereum address, whereas the private keys show proof of ownership. Therefore, you must be keen on your private keys and not lose them because this will mean losing access to your digital assets. There are numerous secure and reliable crypto wallet platforms. These include Metamask, Exodus, Crypto.com, and Coinbase, among others. However, there are different types of wallets in the market. Below is a brief overview of these wallets.
Exchange wallets
When you buy your Ethereum coins, they’re usually kept in storage linked to your selected crypto exchange. They are considered the easiest and cheapest wallets because you only have to register with an exchange, and you’ll be assigned one. Exchange wallets are mainly ideal for users who trade regularly. However, these wallets are less secure since they’re connected to the internet. Furthermore, crypto exchanges are not governed by the government or financial institutions. This means if they get hacked, you might lose your Ethereum coins. To avoid such mishappenings, you should move your assets to a more secure wallet.
Hot wallets
Hot wallets are similar to exchange wallets because they are connected to the internet. This means they’re also prone to cyber attacks, making them less secure. Aside from the security issue, hot wallets are ideal for online players because they allow you to access your crypto coins and make payments easily.
You’ll find numerous hot wallets in the market, including desktop, mobile, and web-based. Desktop hot wallets are installed on your computer as software programs, whereas mobile ones are installed as apps on your mobile device. You can access web-based wallets through your web browser, hence the name. They are usually hosted on third-party servers, making them the least secure of the three hot wallets.
Cold wallets
Cold wallets are ideal for keeping your Ethereum coins if you own a large amount. Unlike hot wallets, cold wallets are not connected to the internet. Your private keys are stored offline on a USB device or a paper. Therefore, you’ll have to connect the USB to a computer if you need to access your coins or fund your Ethereum casino account. Paper wallets, on the other hand, have private keys printed on them. However, they can get damaged or lost easily.
Being offline makes cold wallets the most secure because they are not easy to hack. Hackers cannot access your private keys remotely since the servers are not internet-connected. However, cold wallets’ major downside is if you lose it or forget your seed phrases. If this happens, there’s no way to recover your coins. Therefore, we recommend backing up your private keys and keeping your wallet safe.
Traditional online casinos vs Ethereum casinos
For clarification, crypto casinos allow deposits and withdrawals through cryptocurrencies. Traditional casinos, on the other hand, support fiat payments. This is just the general difference between the two. Let’s review some significant differences below.
Security and safety
You must enter your personal information and banking details when signing up for an account at most traditional online casinos. Undoubtedly, giving your banking information to a third party is dangerous. This is because the info can be used to commit crimes, or you could lose your funds through online fraud.
On the other hand, the best crypto casinos don’t require much. You’ll only be required to fill out your crypto wallet address during payments. This eliminates the need to share your confidential details with anyone.
Transaction speed and affordability
Crypto casinos process payments faster than traditional online casinos. This is because cryptocurrencies are decentralised, cutting the middleman during transaction processing. You’ll, therefore, receive your funds sooner if you’re playing in a crypto casino.
Regarding fees, crypto casinos rarely impose charges for processing payments. If any, they’ll be mining charges, but only for relevant coins. You might incur transaction charges when playing in traditional casinos, especially on withdrawals.
Withdrawal and deposit limits
Fiat casinos usually have lower deposit and withdrawal limits than real money online casinos that accept Ethereum. In most cases, crypto casinos don’t impose restrictions on deposits. However, although higher, you’ll find cashout limits in the best crypto casinos. This gives them the upper hand in attracting high-roller players with huge gambling budgets.
How to deposit to online casinos with Ethereum
Despite cryptocurrencies being more sophisticated than fiat payment options, depositing in online casinos that take Ethereum is quick and easy. However, you must have Ethereum coins in your wallet for the transaction to go through. Below is a step-by-step procedure for depositing in online casinos with Ethereum.
Choose a crypto casino
You can pick an Ethereum casino from our recommended list or just choose a reputable one online. Afterwards, sign up for a player account. Proceed to the banking/cashier section, where you’ll be presented with numerous cryptocurrencies for deposit. Choose Ethereum to fund your account through this method.
In some crypto casinos, you may be prompted to fill in your desired deposit amount before being redirected to the operator’s wallet address page. In other platforms, this might be required later, i.e., you’ll be taken to the wallet address first and then enter the amount later.
Copy the casino’s Ethereum wallet address
Once the address window is opened, you’ll find two options with the address. The first will be in a text format, whereas the second will be a QR Code.
The text format address usually comprises a string of letters and numbers. To fund through this option, you must copy this address. Afterwards, log in to your Ethereum wallet. Click the Send button, paste the operator’s wallet address, confirm the deposit amount, and authorise the transaction.
The second option requires a camera phone with a QR code scanner. Log into your Ethereum wallet and click the Send button. Scan the displayed QR code on the operator’s page. The online casino’s wallet address will be automatically filled. Enter the amount you wish to deposit and authorise the payment. For certainty, the QR code option is recommended. You can make a mistake when copying the operator’s wallet address. If by any chance you paste the wrong address, you’ll lose your funds.
Some crypto casinos, including new Ethereum casinos, offer crypto payment gateways. These platforms allow you to buy cryptocurrencies directly from them through the casino site. Some popular payment gateways you might encounter include MoonPay, CoinsPaid, BitPay, etc. You’ll incur some transaction charges but won’t go through the hassle of registering for an account on an exchange platform.
How to withdraw from online casinos with Ethereum
You may be lucky when playing in online casinos that take Ethereum. This might be through hitting a jackpot or landing substantial wins in your favourite games. So, what happens to the funds when you want to use them? It’s simple. You’ll submit a withdrawal request and wait for the funds to be processed. The withdrawal process in Ethereum casinos is usually swift and straightforward, as discussed below.
Start the withdrawal process
Like depositing, head to the cashier section and click the Withdraw button or page. You’ll find a list of payment options. Select Ethereum.
Enter your Ethereum wallet address
You’ll see an empty field after selecting Ethereum as your cashout option. This is where you’ll be required to enter your wallet address. Log into your crypto wallet and click on deposit. Select Ethereum as your cryptocurrency. This is important because ETH funds can only be sent to an Ethereum address. Copy the provided address and paste it into the given space in the casino.
Enter your withdrawal amount
You must fill in your preferred withdrawal amount. Remember the online operator’s minimum and maximum cashout limits. Click ‘Submit.’ Note that withdrawal times usually vary from one online casino to the other. Most crypto casinos process payouts within 24 hours or less.
Wait for the funds to arrive
Once your cashout request is approved, the online casino will release your Ethereum coins to your crypto wallet. You’ll typically receive an email and a notification from your crypto wallet when the funds are credited. You can now sell the coins from your wallet and convert the funds to your local currency or other fiat currencies.
Ethereum transaction times and fees
When you deposit using Ethereum, the funds will be floated into your account within minutes or less. Sometimes, they may be credited instantly or within seconds. This depends on a few factors.
When it comes to payouts, the first factor to consider is the operator’s withdrawal time. Generally, Ethereum fast withdrawal casinos process all payouts within minutes or a few hours. Some operators may take longer, usually up to 24 hours. Once your request has been approved, the rest will be quick. Your payout can arrive in your crypto wallet immediately or in minutes.
Regarding transaction fees, top crypto casinos don’t impose any charges for processing deposits and withdrawals. However, you might find some online casinos that take Ethereum, charging a nominal transaction fee. Generally, cryptocurrencies are cost-effective. You may incur negligible miner charges since Ethereum is based on a blockchain network.
Ethereum casinos pros & cons
Pros: |
|---|
| Lightning-fast transactions: Ethereum payments are nearly instantaneous, usually taking minutes or a few hours to complete. |
| Safety: All crypto transactions don’t require you to submit personal information. Therefore, your details are always safe from online fraud. |
| Cost-effective: There are no middlemen involved when processing Ethereum payments. This means you’ll be subject to zero or nominal transaction fees. |
| Free of regulation: Cryptocurrencies are decentralised. Thus, your crypto wallet or funds cannot be frozen in case of a misunderstanding between the involved parties. |
| Inflation insulated: Cryptocurrencies are not subject to inflation. Therefore, they cannot be mass-produced and released into the economy like with fiat currencies. |
Cons: |
|---|
| Untraceable transactions: This can also be regarded as a downside. Crypto transactions being untraceable facilitates criminal activities such as money laundering. |
| Price volatility: Ethereum prices usually fluctuate daily. This is because of the limited amount of ETH coins in circulation and their rising demand. |
Convenience and safety of Ethereum casinos
When it comes to convenience, Ethereum offers an enormous amount. For starters, people today prefer privacy more than anything else. Some players would like to enjoy their gambling activity without the transactions being traced back to them. With crypto coins like Ethereum, all payments don’t require personal details. This means you’ll deposit and withdraw your winnings anonymously. Ethereum also lacks geographical restrictions. Simply register for an account in an exchange platform, buy Ethereum, and deposit into your preferred Ethereum casino account.
Another incredible fact about Ethereum is that its transactions are lightning-fast. Some fiat methods take up to five business days. This is a bummer for experienced players who like receiving the funds in good time. You could have an emergency, and your funds are locked for days waiting for approval. With Ethereum, you’ll receive your funds immediately or, at the latest, within 24 hours.
Regarding security, we have emphasised this a lot in this article. Ethereum’s popularity is mainly based on its dedication to data security. You can be sure that none of your information will be revealed or shared with third parties, such as an online casino. Only the transaction details, mainly the amount involved, are shared with the public. As for the identities of the transacting parties, only your public address in the digital ledger will identify you. No real names are required.
Provably Fair games in Ethereum casinos
Provably Fair games are mainly found in crypto casinos, including top Ethereum casinos. You might also find these games in fiat online casinos that offer crypto payment options. Thanks to its massive popularity, numerous software providers such as Evoplay and Turbo Games have joined the bandwagon and integrated the technology into their titles. So, what’s the difference between these and other games? Generally, Provably Fair games allow players to verify the transparency and fairness of the outcomes. You can verify each outcome if you suspect any rigging.
Provably Fair technology
The Provably Fair technology uses a cryptographic algorithm to review and validate the fairness of each round’s result. This helps eliminate most players’ fears that an online casino will defraud them. Usually, the algorithm calculates the final results using three variables. They include:
- Server seed: Provided by the crypto casino.
- Client seed: The browser you use to play the games generates this parameter. The variable is also adjustable.
- Cryptographic nonce: This variable increases directly to the number of bets placed.
Before beginning a round, you’ll receive an encrypted server seed from your Ethereum casino. Thanks to the hashing approach, neither you nor the casino can change the seed. Afterwards, your browser randomly generates a client seed. You can alter this seed before beginning a round or placing a bet. This is allowed to ensure the operator doesn’t know about the contents in advance. Lastly, the cryptographic nonce is generated each time you place a bet. The algorithm will then use the client and server seeds to determine the game’s result (win/lose).
How to verify the results
Top crypto casinos with provably fair games provide a verifier tool on their page. If you doubt a game’s outcome, input the combined hashed seeds on the verifier tool and check if the generated code matches the one provided in the game. If it’s identical, then the game is entirely fair.
Conclusion
The finance world has been evolving over the years. It all started with credit and debit cards and moved to e-wallets. Now, we have virtual currencies. Online operators have also not been left behind. They have kept up with the pace. As a result, crypto casinos have emerged. There are plenty of players who have been looking for payment options that are more secure and anonymous and offer fast transaction times. For this reason, crypto casinos have become a new trend. Most players are now more aware of crypto and its benefits. Among the most popular used cryptocurrencies in these casinos is Ethereum.
In this Ethereum casino review, we have discussed the digital coin and its use in online gambling. We have provided general information about Ethereum, its key features in the gambling market, and where to buy and store the tokens. You will also find the pros and cons of Ethereum casinos.
