Ether is one of the many cryptocurrencies that deviate from the behavior of fiat money which we are familiar with. But seeing as cryptocurrencies are still gaining widespread acceptance, you may ask; should I use Ethereum for my online slots gaming?
And the answer is yes – you should use Ethereum for online slots gaming to register and play. Keep reading so you can find out why, and how to go about it.
What is Ethereum?
Ethereum is an open-source blockchain that is decentralized and runs on smart contracts. Ether (ETH) is the cryptocurrency for Ethereum and it is one of the most popular out there. Basically, with Ethereum you can make fast and secure transactions without the interference of a third party as an intermediary.
This means that when you carry out exchanges on Ethereum, you enjoy certain privileges that are not available with the form of money we are familiar with. When making transactions with online slots using Ethereum:
- Your transactions are instant because of the absence of a middleman that handles your money
- There is no central body recording and carrying out the transactions, therefore, there can be no fees charged to you for making a payment or withdrawal to your slot account.
- The wallet is secured with cryptography, making all transactions secure.
- You can use this crypto to play slots in a region where online gambling may be illegal. Simply because, as a cryptocurrency, Ethereum transactions cannot be traced back to who made them. Also, because a lot of countries do not recognize cryptocurrencies as actual money, this is not illegal, and you will not even be required to pay tax.
However, this method also has its cons. One of such is that not many casinos offer Ethereum or even cryptocurrency. Also, and very importantly, the change of the value of Ethereum against other common currency is very volatile. And these factors are something to consider before using Ethereum to play slots online.
Regular Banking Methods for Online Slots Gaming
Most of our slots today use digital money via several payment portals to carry out transactions. With these portals, one or two issues can arise. There a lot of reputable banking methods that are secure, will give you little to no transaction fees, and carry out transactions quickly.
But unlike Ethereum slots, they simply lack the freedom being offered to online slots games.
How to Play Ethereum Slots
To enjoy Ethereum slots online, follow the simple steps:
- Setup your Ethereum wallet
- Register at an exchange website, set up your payment method, and buy some ETH. A keynote is that you must do research on the website to confirm that is secure and can be trusted.
- You can choose to make transactions with the exchange website, but it is wiser to transfer your ETH to your wallet.
- Make quick deposits to your casino of choice. You can choose to play slots with ETH (if the casino allows it), or you can convert to a currency you are familiar with.
- Hit the spin button and win some real cash!