Ethereum Gambling, What is Ether?
Ethereum Gambling, What is Ether?
Ethereum
Ethereum is a newer generation cryptocurrency that expands on the idea of Bitcoin, it was initially intended to complement rather to compete with it. While it is blockchain based, decentralized and open source, what differs it from Bitcoin and other cryptocurrencies is the fact that it enables ‘smart contracts’ and it can also be used as a software to create decentralized apps (dAPPS).
Smart Contracts is just a fancy word to describe a digital contract between buyer and seller, what makes it special is that it cannot be manipulated, it is self-executing and does no require any third party to verify it. Anything of value can be exchanged with the use of smart contracts including property, digital goods, shares, legal terms, etc
Ethereum also has it’s own currency known as Ether (ETH) which is similar to how Bitcoin operates, currently it uses the POW (Proof of Work) algorithm and might switch to a POS (Proof of Stake) algorithm somewhere in the near future. ETH uses a sub-currency known as GAS in order to be transacted.
Ethereum and Gambling
Many crypto casinos offer ETH as a deposit/withdraw method, it is not a bad payment mechanism ETH transactions are faster than BTC. Ethereum Gambling is a good option for those who hope in increasing their Ethereum holding or simply prefer to use Ethereum.
How to start with Ethereum
Ethereum is a bit harder to grasp as opposed to Bitcoin but it is still not as complicated as its name sounds.
The first step is to download an ETH wallet which will take the role of your bank. There are many types of ETH wallets that you can use;
Browser-Based wallet: Metamask.io is by far the best browser wallet, it is lightweight and embedded in your browser
Desktop Wallet: Exodus.io is a good wallet to consider since it supports multi cryptocurrencies and it is easier to use than MetaMask
Once your wallet is setup, you need to buy ETH from a cryptocurrency exchange or you can also earn some Free Ethereum by completing faucets, do not expect to earn much but every little counts.
Using Ethereum on any crypto casino is pretty straightforward, you sign up, you choose ETH as your deposit method, and send ETH to the address. Transactions should be much faster when using Ethereum as opposed to Bitcoin.
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