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Payment Method Ethereum (ETH)
Payment Types
Cryptocurrencies
Withdrawal Time
10-60 minutes
Transaction Fees
No

Ethereum (ETH)

Ethereum is a crypto-currency that appeared in 2013. Unlike Bitcoin, we know its creator: Vitalik Buterin. For those who don’t know, crypto-currencies are digital assets which can be used like Fiat currencies. You can use them to purchase goods (for example, from an Ethereum UK website), to make payments (for example, to an Ethereum casino), and for any other purposes: Basically, they are the digital equivalent of paper money. However, you cannot “hold” them in your hands.

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The name Ethereum comes from science-fiction, and it refers to an invisible matter among space which makes faster-than-light speed possible. Vitalik Buterin is a fan of sci-fi, so he picked the name of this imaginary matter for his currency. Like other currencies, Ethereum also has a value and can be exchanged with other currencies. At the time of this article, the value of 1 ETH (Ethereum) was equal to 295 USD. So it is actually a very valuable (but volatile) currency.

The main differences (*) between Bitcoin and Ethereum are:

(*) Note that there are many technical differences between ETH and BTC. However, we only mentioned the “non-technical” ones.

Advantages Using Ethereum

Disadvantages Using Ethereum

How to Make a Deposit With Ethereum

You need a software called “wallet” to pay with ETH. First, purchase some ETH from an exchange site with Fiat currency (or credit card). Download a wallet, they are free to use. Once you have a wallet, you will also get a blockchain address. This looks like a couple of random numbers and letters, and it really is random. This address will be your “IBAN number” on the blockchain.

Go to the exchange site and transfer your purchased ETH to your wallet. Giving your blockchain address to the exchange site is enough to do this. Now, to send ETH to another user, you need to know his/her address. Just like regular users, online casinos have blockchain addresses too. You can learn this address from the “payments” section of this casino.

Switch to your wallet, enter the address of the casino as the recipient, and send ETH to that address. The transaction will complete in a couple minutes and you will only use your own wallet to make the transaction. In other words, nobody will be able to see or store your confidential information.

How to Make a Withdrawal With Ethereum

The process is the same as making a deposit, just reversed. Visit the “payments” section of the casino, choose the “withdraw” option and provide your blockchain address. Nothing else is needed. Hit the “proceed” button, and the ETH will be automatically sent to your wallet. No need to verify your identity or anything like that. Remember that it is the blockchain who makes the transaction, so no “human” needs to approve your request.

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