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June 20, 2022

The 8 Benefits of Gambling with Ethereum

Ethereum gambling has been gaining in popularity since its inception, and while Bitcoin gambling has become more popular recently, it has been around longer than most would expect.

If you have never ventured into the world of Ethereum gambling before, it’s time to consider why you should give it a shot. Check out these reasons why Ethereum Judi Slot Online might be right for you!

1) Security & Immutability

One common criticism leveled at Bitcoin is that its blockchain isn’t immutable. Once a transaction has been verified, it can be reversed or edited. With Ethereum, every transaction is stored in an unchangeable and unhackable record (called a blockchain) as soon as it’s verified. If anyone tried to tamper with that record, they would have to modify all subsequent blocks on their own.

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Otherwise, any other node could immediately see their behavior change and wouldn’t accept it. No one can hack into Ethereum’s blockchain unless they have 51% of the computational power behind it.

2) Transparency

One of Ethereum’s greatest benefits is that it allows players to be able to access their money at any time. Unlike traditional casinos, where players must wait for some period before being able to retrieve their funds, all ETH transactions are stored on a public blockchain and can be accessed at any time. It’s important to remember that ETH is just one game-changing application built on top of blockchain technology.

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Bitcoin (BTC) operates similarly and has been used by several online gambling sites in place of credit cards or banking institutions. Even payment processing companies like BitPay have moved towards using BTC as well. In 2017, more than 50 percent of gambling sites accepting BTC listed ETH as an alternative payment method.

3) Choice of Games

This is a big one. If you’re limited to just slots, poker, and blackjack, then your options are a lot more limited. But sites like Ethereum casinos offer a huge range of games from simple slot machines to far more complex games like roulette, baccarat, and dice.

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Whether you prefer card games or something where skill plays a bigger role, you can find it online on most Ethereum gambling sites (and not just for Ethereum either). This makes it easier to play your favorite casino game without needing to worry about bitcoin conversions or another currency trading, which can be complicated for many people.

4) Anonymity

Online gambling or rtp live is becoming more and more popular, as it can give users a new level of anonymity. Many people enjoy gambling online because they do not have to deal with casinos or other establishments that are directly connected to their name and account.

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When you gamble using Bitcoin or Ethereum, you don’t have to give out any personal information about yourself to make a transaction. This gives users another layer of privacy when using these services, especially when it comes down to large amounts of money being used for betting. You also do not have to worry about your transactions being traced back to you.

5) Fast Results

Gamblers are often looking for fast results and that’s why the cryptocurrency is so appealing. With other forms of gambling, you could be waiting months before you see your money again but with Ether, transactions take mere minutes to complete. As long as your network can handle it, your funds will be on their way back to you just moments after they’re sent!

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Even if things do go wrong (and they will), Ether ensures that any issues won’t last long. It’s rare for a network to experience issues for more than a few minutes at a time so using ETH makes sure that there are virtually no interruptions in play. That means faster payments, less downtime, and better overall results when compared to traditional methods.

6) Transparent Fees

With traditional online casinos, there’s no way to tell how much you’re spending. You deposit money into your account, gamble it away and then wonder where it all went when you check your bank statement.

Casinos are profitable because they make it impossible for players to ever know their true loss. With gambling sites that use cryptocurrency, however, you can see a breakdown of your total transaction history by visiting your wallet page on an exchange like Coinbase or CoinMarketCap and that includes fees! When every bet is public knowledge and each transaction is completely transparent, there’s nothing for either party to hide from one other.

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7) Wide Range of Games

As one of our previous articles, How To Buy Bitcoin, explained, Bitcoin and Ethereum are two separate entities that serve different purposes. For example, as a payment system, Bitcoin allows people to transact without going through a bank or other central financial institution. By contrast, Ether is used as a digital currency (more on that later).

However, their differences aren’t what make them unique. It’s their similarities that have led to them being positioned against each other. As such, both offer users unparalleled flexibility when it comes to payments and can be used in conjunction with each other. Many online casinos accept both currencies for deposits and withdrawals!

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8) Quicker Deposits & Withdrawals

The Ethereum network processes transactions at around 20x more speed than Bitcoin. If you’re looking to turn your cryptocurrency into cash in a hurry, Ethereum can be a much better option than Bitcoin. The average confirmation time for ETH is between 10 and 15 seconds, compared to over an hour for BTC.

This can make transferring funds out of an exchange or wallet much quicker and easier if you’re looking to move large amounts out of your cryptocurrency stash. In terms of fees, ETH also costs about 0.2% on top of each transaction (vs 1% for BTC), although some wallets are even cheaper (0% commission).

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Conclusion

Ethereum has been garnering a lot of attention from the gambling community lately due to its advantages over traditional fiat currencies. There are many advantages to using the Ethereum blockchain when it comes to gambling, but here are some of the main benefits that you might want to consider if you’re interested in jumping on this new bandwagon.

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