Over the past few years, cryptocurrencies have gained a completely new reputation. From the “currency for criminals” one became an object of speculation – today there is also an increasing number of users who pay for their purchases with crypto currencies. Or, for example, put your luck to the test in the online casino.
If you deal with the topic of the crypto market, you will inevitably come across the digital currency Bitcoin. But at this point it should be mentioned that although it was the first cryptocurrency to hit the market, it is not the only digital currency that is currently available. However, it should be mentioned at this point that there are many crypto currencies, but only a handful can be classified as recommendable.
Among other things, Ethereum. The currency of the platform Ethereum is considered to be the “eternal number 2”, as long as one deals with the market capitalization. But it is precisely this “second place” that attracts a lot of attention. There are a few online casinos that not only work with Bitcoin, but also offer the option of making deposits with Ether.
How Ethereum and Bitcoin differ
The speed at which Bitcoin works is known – but the blockchain is able to process Ethereum’s data within 15 seconds. This is a huge difference compared to the processing time of the Bitcoin. Processing here takes around 10 minutes. There are also different approaches to calculating the fees. Every transaction carried out with Bitcoin is processed in the same way – with Ethereum, however, this is not the case. Here, the processing is based individually on the basis of broadband usage, storage space and complexity.
The advantages that you enjoy when you opt for an Ethereum casino are obvious: anonymity, security and speed – ultimately there are even attractive bonuses that should not be missed.
However, there are a few downsides that should not be ignored. You first have to purchase coins of the cryptocurrency – for example via a marketplace or an exchange. Furthermore, there are currently very few online casinos that accept Ether.
In addition, it is advisable to compare the online casinos that offer the possibility that you can also work with ether (or another crypto currency). Because of course the new option attracts many “black sheep”. So before you decide on an online casino, you should find out from experience and test reports whether it is a recommendable provider or a provider to be questioned.
Between an all-time high and a record loss
Ether was able to climb from around 10 US dollars to just under 1,500 US dollars in 2017 – the slump followed a little later. At the end of 2018, it was again below the 100 US dollar limit. The comeback was then celebrated in 2019: Suddenly it was possible to jump over the 300 US dollar mark again.
However, the coronavirus has also infected the crypto market. In March 2021 things went steeply downhill – to almost 4,000 US dollars. However, the prognoses are promising. This means that if you invest now, you could book an attractive profit if the market develops accordingly.