Although it would be wrong to say “forget about Bitcoin”, there is another cryptocurrency that is available on the market currently that has also helped the sector to continue to grow to astronomical levels. Whilst Bitcoin might be the cryptocurrency that is known throughout the world for a variety of different reasons including the fact that it is the most valuable, perhaps the most volatile and synonymous with the industry, there should be no doubt that Ethereum will join it in the upper echelons of the sector.
Admittedly, Ethereum has some way to go to be on the same level as the world-renowned token but there is evidence to suggest that it could be well on its way to reaching the same heights in the future, especially if its performance within the online gambling scene is anything to go by.
Benefits of Ethereum
The coin is one of the main contributors to the online crypto casino industry, as it has a number of special features that have allowed it to create waves within the sphere and continues to be as attractive and appealing as it was when it first emerged as an alternative. Indeed, the token is not only a cryptocurrency, but it is also a blockchain technology that has smart contracts which will see user’s transactions be converted. This means these transactions are incredibly secure and are extremely hard to hack into.
However, one of the major benefits for those who wish to play Ethereum casino will be the fact that the payouts are typically higher than those that are made with traditional forms of currency. This is because they generally require fewer fees when making transactions, whilst simply making the coin more affordable than others that can be used. As this is the case, there are more and more casinos that are starting to accept Ethereum as a payment method, as they realise and understand gamblers are continuously looking for the best options available to them.
Ethereum has become incredibly attractive for online casinos now more than ever because of the blockchain platform that is available, although gamblers are continuing to find different benefits that the coin can provide them. It is widely accepted by a number of online casinos compared to alternatives like Bitcoin, whilst it also has a higher level of anonymity compared to its counterparts, which is always a major advantage.
Drawbacks of Ethereum
However, whilst there are a number of bonuses available to those that use Ethereum, it would be wrong to not mention that there are some negative connotations regarding the cryptocurrency, potentially making the coin far from ideal in some circumstances.
One example whereby some have suggested that Bitcoin has more of an advantage is in regards to the usability it has, with the coin being a lot easier and user-friendly to use than Ethereum, as the latter of the two provides a number of advanced features that might not be easy to use for those with no prior experience of the token. Whilst Ether gambling continues to make progress, it still is not widely accepted compared to many other options that can be found, with some casinos unlikely to accept the coin as a deposit form.
What is the future of Ethereum and online casinos?
There is no doubt that Ethereum is helping to push online casinos along and help the future of crypto gambling significantly, although much of the driving is down to the technologies that are in place. The blockchain platform that is provided when using the coin is of the highest quality and provides users with some of the best security and anonymity levels possible, which is always a major draw. However, the coin is yet to be as widely accepted as Bitcoin, which means gamblers could be restricted to where they play their favourite casino games. Whilst Ethereum casinos are still relatively new, the future is bright and with crypto gambling also pretty new, expect a lot to happen over the course of the next few years.