Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum is powered by the Ether token, which can be mined or purchased. The value of Ether fluctuates rapidly and it is not possible to predict the price.
Ethereum was crowdfunded during August 2014 by fans all around the world. It is developed, supported and maintained by EthDev with contributions from great minds across the globe.
The usage of ethereum for betting is gaining popularity due to the many benefits it offers. It is not only for Ethereum but the crypto betting industry in general is growing rapidly and in some changing phases.
The world of crypto betting is changing. In the past, you needed to use Bitcoin or Ethereum for your wagers and make sure that the site you were gambling on accepted them. Now, it’s possible to bet in ETH betting sites without ever exchanging your tokens into BTC or fiat money.
The benefits are many: lower fees, less waiting time when placing a bet, an increased likelihood of winning since you aren’t paying as much in transaction costs, and more variety in cryptocurrency games with new types coming out every day!
So what are the other perks of using Ethereum for betting:
You Can Use Smart Contracts
One of the coolest things about Ethereum is that it’s built on smart contracts. These are lines of code which you can use to automatically distribute winnings, resolve disputes, and make sure everyone gets paid their fair share.
Every ERC20 ETH based token has its own smart contract with different rules and twists which gambling sites use to make the gaming experience more unique and enjoyable.
They’re Faster
Ethereum bets are processed much faster than Bitcoin transactions thus giving you a better chance at hitting bigger payouts before someone else does because of the speed with which Ethereum works!
Also, there’s no waiting time for deposits or withdrawals since ETH is an entirely digital currency.
Lower Transaction Fees
Bitcoin was made to process transactions without charging extra fees for them but the truth is that BTC payments are still slow and expensive. Ethereum, on the other hand, charges low transaction fees no matter how much you’re wagering or withdrawing so gambling with this digital currency is almost risk-free!
A Rapidly Growing Number Of Online Games
In the cryptocurrency world, gambling sites have been popping up right and left to take advantage of the rise in ETH prices due to its popularity among investors and gamblers alike. This means a greater variety of games available for you to play and more ways to win!
And since there are no transaction fees, you can bet as much as you want and watch your winnings skyrocket even if you lose since you won’t be dinged for transaction fees!
Give it a try today and see for yourself why cryptocurrencies are the future of gambling.
