EOS Casino Test 2021 Real-time payments in EOS Coin Casinos!
EOS Casinos will probably not have come across too many players in Canada yet. Unlike Bitcoin, Ethereum 🪙 and Litecoin, the blockchain-based as well as decentralized platform is still at the very beginning when it comes to the gambling industry.
The EOS ICO ran from mid-2017 to early 2018, and today the EOS token has established itself in a number of countries and is even sometimes referred to as Ethereum’s fiercest competitor. One of the big features is that the token is specialized for DApps – meaning decentralized applications. This makes it interesting for other industries besides online gambling and not least for crypto trading.
The blockchain is therefore very versatile and also absolutely secure. By way of explanation, smart contracts are automatic contracts that come into effect in predefined situations. They are all equally based on blockchain technology, just like EOS itself in this case.
We are all the more curious to see to what extent the EOS token will establish itself as a means of payment in online crypto casinos.
However, smart contracts are not used in casinos, but rather the EOS Coin proves to be a secure means of payment, which can be purchased on common crypto exchanges and in wallets, for example.
Currently, pure trading with EOS Coins does not seem very interesting, since the price last went up shortly after the launch, but then settled quite far down. It is all the more suitable for payment in the casino sector.
The top EOS casino in the test 2021
To date, there are only a few providers among the crypto casinos known to us that accept EOS tokens for deposits and withdrawals. Among them is Stake Casino, which we tested.
The future could be quite interesting for the EOS ecosystem, because especially players benefit from various advantages with the cryptocurrency. This refers in particular to the fact that coins can be created super fast and easily in the EOS blockchain. Casino customers thus have the advantage that they have credit immediately available. At the same time, a wide variety of gaming options can be used with EOS in crypto casinos that offer it.
This is how playing at the EOS Casino works
- Register at the EOS Casino (currently only stake.com)
- Confirm registration and log in
- Select EOS Token as payment method
- Copy generated code or scan QR code
- In the crypto wallet select amount to code and confirm
- The credit will be issued within 10 minutes
Basically, the EOS deposit is similarly simple as replenishing credit with Bitcoin, Ethereum or other digital assets. The first prerequisite is that the corresponding coins are available. These can be purchased for real money, as described below. The exchange on common crypto wallets is simple and straightforward, as is the deposit 💳 into the crypto casino.
If the EOS token is accepted as a means of payment, players benefit from versatile gaming options in the corresponding casino. Both the account balance and the stakes are displayed in EOS currency, although exceptions prove the rule. Sometimes it can happen that the display is in euros. The advantage is the easier overview of the stakes and winnings. As of 07 May 2021, the exchange rate is 9.98 per EOS Coin.
Buy EOS – possible on all crypto exchanges
In the meantime, the EOS token has arrived on wallets and exchanges of all kinds. Those who want to invest in EOS can do so at the following companies, among others:
The special thing about the cryptocurrency: EOS transactions are, unlike those with Bitcoin and Ethereum, completely free of charge. This would also make one of the main advantages of this coin clear, because in the long run, EOS brings with it a significant cost saving – not only for those who use the token to play in the crypto casino.
Advantages & disadvantages of EOS casinos
What advantages does EOS offer as a payment method in the casino?
Essentially, EOS buyers benefit from the constant development of the blockchain. This is not only becoming increasingly secure, but at the same time also offers a much more attractive performance as well as better scalability than is known from the better-known cryptocurrency Ethereum – although the technologies were essentially adopted from ETH.
Transactions are free of charge with EOS, which is also convenient for casino customers. This eliminates the additional costs that are common with alternative coins. Despite this concession from block.one’s blockchain platform, buyers enjoy a very high transaction speed.
The most important aspect, however, might be the security aspect. If a hacker attack is imminent, the platform is reset. Funds in the form of EOS Coins can thus not be lost.
All advantages at a glance:
- Fee-free transactions
- Extremely high scalability
- Decentralization in all sectors thanks to DApps
- Experienced developers and operators
- User-friendly platform block.one
- Available in all crypto wallets
What are the disadvantages with EOS casinos?
Investors should be aware that some features of the EOS blockchain are not yet mature. In theory, the coin stands for innovation, superior scalability and thus brings many advantages especially for investors.
Practically, however, as with all digital currencies, it still needs a few years to fully establish itself and achieve the many goals that Block.one has set for itself since its founding in 217. Only time will tell whether it can actually succeed in further optimizing the technologies compared to Ethereum and Co. Overall, EOS is basically on a good path.
However, there is another disadvantage for players in crypto casinos. Only very few providers accept EOS payments 💶 yet. At Bitcasino.io, MBit, Bitstarz, Roobet and Cloudbet, which we tested, the coin is currently not available for selection.
These are the main EOS disadvantages:
- Available in few crypto casinos so far
- Some features not yet fully implemented
Interesting detail: there is no lower limit for EOS payments. So, the developers have not set a minimum amount for transactions. Nevertheless, the details of the selected casino must always be observed. Currently, the EOS rate is stable. Nevertheless, investors should expect some drastic price fluctuations. These also ultimately have an impact on the attractiveness of the token in the field of online gaming.
Alternative casinos with cryptocurrencies
Is EOS different from other coins?
What is clear is that the EOS token does not come close to bitcoin. Its price is significantly lower. In addition, the industry has focused heavily on so-called decentralized finance, and here BTC remains in first place. EOS is less interesting for investors, but it offers some advantages over the better-known alternatives. The comparison with Ethereum is particularly interesting. Here are some important aspects:
- Significantly higher transaction speed
- Guided by only 21 validators – 6,700 for Ethereum.
- Proof-of-stake instead of proof-of-work algorithm.
- Transactions are less expensive
Good to know: For inexperienced investors, EOS is definitely an option. However, when it comes to EOS casinos, the currency is sometimes not too interesting yet, as the broad acceptance is simply missing.
Secure EOS casinos – important aspects
Worldwide, crypto casinos are now a growing trend. The digital currencies are decentralized and regardless of the country in which the provider is located: the coin is worth the same everywhere. In addition, EOS casinos are without a 1000 euro monthly deposit limit and wagers are also not limited to very small amounts.
With all the freedom is but or especially the aspects of security to consider. Basically, crypto casinos are safe especially if they act transparently. In addition, they should allow their customers to set limits themselves.
Last but not least, you should also pay attention to the valid license. This is often issued in Curacao for cryptocasinos. The gambling authority behind it has strict requirements for the companies, especially with regard to player protection.
Deposit limits in EOS casinos
The following also applies to EOS: The respective casino operator decides on payment limits itself. At Stake, the deposit is actually also possible in the case of the EOS Token in an unlimited amount. Both the minimum amount and the upper limit can be entered and freely chosen by customers themselves in the crypto wallet.
It is important that the memo generated by the provider and the wallet address are entered correctly. Only if both data are correct, a smooth allocation of the amount is possible.
To stay with the example of stake.com: Winnings can also be paid out in unlimited amounts. However, there is a minimum amount, because only from 4 EOS it is possible to request the payout of winnings to the wallet. In addition: this must have already been used for the deposit.
Especially with high amounts – regardless of whether deposit or withdrawal – it can also happen in the crypto casino that additional verification steps are necessary. This is nothing unusual and should in any case be taken as a sign of high seriousness of the operator.
Which games work with EOS tokens?
You have to clearly distinguish between pure crypto casinos and those that accept digital assets as well as real money payments. In the case of the latter, bitcoin is usually in the foreground; a deposit with EOS is currently not yet possible there. These companies differ from pure crypto providers in that they only allow a small selection of games to be played with digital currency.
Providers such as stake.com, on the other hand, offer their customers a sufficient number of currencies of a digital nature as a means of payment. If EOS is offered for use in the casino 🎰 , all categories are usually open – from classic slots to live roulette. Here are some categories that can be used with EOS without any problems:
- Live casino
- Game Shows
- Jackpot machines
- Table games
- Sports betting
Interesting: The sports betting section is also open to Stake customers who choose EOS as their currency. So there are no restrictions in the portfolio of our casino example mentioned.
Tips & tricks for paying with EOS
Due to the comparatively low exchange rate, it can be worthwhile to “stock up” on EOS right now, i.e. to purchase the cryptocurrency on your preferred wallet. There are still only a few ways to use EOS as a means of payment in casinos. However, since the trend is moving more and more in the direction of digital currencies and this one in particular is trying to eradicate the previous shortcomings of Ethereum, Bitcoin and Co, it certainly has a good chance of gaining more and more importance for the gaming industry in the future.
Those considering EOS for casino payments should take the following to heart:
- Read EOS casino test report, inform about advantages and disadvantages.
- Buy currency only in renowned wallets
- Use protection with hard wallet preferably
- Set your own payment limits, since EOS casinos are unlimited
- Pay attention to the casino’s own fees
As already indicated at the beginning, EOS is a very favorable solution for transactions of all kinds, as they are free of charge. However, the EOS developer Block.one has no influence on costs that arise in the casino. Therefore, customers should take a closer look at the conditions of the crypto casino. The recommendation basically applies to all tokens.
What is EOS?
EOS is one of the digital currencies, also known as cryptocurrencies. The blockchain of the same name was developed in June 2017. After less than a year, in April 2018 to be precise, the market capitalization of the EOS token was already around 4.5 billion US dollars. By 2021, it will be around 4.6 billion.
EOS is operated by Block.one, a now highly experienced and innovative company. The company primarily develops decentralized, intelligent storage solutions. In doing so, Block.one focused primarily on B2B. Today, however, the EOS Coin is also traded by private individuals.
A clear advantage of the token is that it tries to solve previous deficits known from Bitcoin and Ethereum – especially with regard to scalability. This is higher with EOS than with the better-known tokens. In addition, almost all fees are waived with the cryptocurrency. Thus, a cost-effective solution for companies and private investors is offered here, which ultimately also brings advantages in the field of online gaming.
At the beginning, one billion EOS tokens were already put into circulation. The first 20% were released by block.one in the first week after the official launch, and another 70% were distributed over the course of a year. Only 10% remain permanently on block.one. There is no possibility to purchase or trade them, as they are reserved for the operators.
CEO and founder Brendan Blumer
The main person responsible for the network is CEO and founder Brendan Blumer. The successful serial entrepreneur came up with the idea of selling virtual assets at the age of 15, which is also how he got into the gambling market. Blumer is also a professional in creating avatars for well-known games. In the past, he has been able to gain a lot of experience in various companies – including Internet Gaming Entertainment, where he took the lead in Hong Kong at the age of 18. Then in 2017, block.one was founded and EOS was born.
Of course, such a fast-growing company cannot be managed alone. One of the most important people on the EOS team is CTO Dan Larimer. The young man graduated from Virginia Tech in 2003 and then, much like CEO Brendan Blumer, held various jobs. When Dan came to the crypto industry, he focused on Steemit design, one of the first social media platforms specifically for blockchain. At some point, he found his way to EOS and has been contributing all of his expertise to the advancement of cryptocurrency ever since.
Particularly successful in China
Interestingly, the EOS Coin is the 2nd most successful blockchain platform in the Asian region, especially in China. This makes EOS one of Ethereum’s fiercest competitors, although the better-known coin will certainly remain the number one smart contracts platform worldwide. China discovered the advantages of EOS quite some time ago, as the monthly overview CCID (China Electronic Information Industry Development) shows.
In many a month, EOS was already clearly ahead in China, while Ethereum slipped quite far down the ranking at times. For the country, ETH thus has a lower significance than the EOS Coin ⭐ released in 2017. Whether it will also be able to establish itself in Europe in the future cannot yet be clearly said. At least, however, there are indications that the first crypto casinos are already accepting EOS as a means of payment – even if the selection is still much more manageable than with Bitcoin.
The best EOS alternatives
In this country, the coin is still not very widespread – especially in comparison to China. Players who prefer crypto casinos will accordingly rarely get the opportunity to use their EOS tokens as credit. All the better if you know the common alternatives. For example, these currencies are accepted significantly more often:
BTC is still the undefeated number 1 in the industry as well, and it is even accepted in online casinos that do not focus exclusively on cryptos, but where payment in real money currency is still possible. In the meantime, however, Ethereum and Litecoin also meet with a high level of acceptance. Significantly less often, alternatives such as Tether and Tron are offered.
EOS Casino FAQ
Can people play anonymously in EOS casinos?
The fact that users remain anonymous in the casino when they make their payment with EOS or another cryptocurrency 🪙 is a fallacy. In order to log in to the provider of choice, it is of course always necessary to complete the registration. In the form, data such as the name, address and other information are essential.
Is EOS a secure cryptocurrency?
Basically, EOS can be classified as a secure cryptocurrency. As explained at the beginning, the developers of the EOS Blockchain do everything they can to close old known security gaps and work towards the best possible protection. Whenever there is a threat of an attack by hackers, EOS starts a reset and chooses an earlier recovery time to reduce the dangers to a minimum.Those who want even more security for their EOS tokens can store them on a so-called hard wallet, for example a hard drive or a USB stick. All you have to do is make sure that the hardware is not misplaced or destroyed. If you store them securely, you are protected against attacks in the best possible way.
Are EOS Casino payments free of charge?
In fact, there are no transaction fees with this cryptocurrency at all – unlike what you know from more popular coins. This is the very reason to prefer the token over others. Unfortunately, the selection of EOS casinos is sometimes severely limited. Should this change in the next few years, the EOS Blockchain will probably become more important, especially for gamblers. After all, thanks to it, a lot of costs can be saved, especially if you deposit and withdraw funds more frequently as a casino customer.
Is EOS as good as Ethereum?
In terms of scaling and transaction times, EOS is even a lot better than the better-known ETH token. As far as security is concerned, investors and ultimately also casino customers benefit from the highest standards. The disadvantage is, of course, that there are only a few providers that offer the coin as a means of payment so far. In this respect, Ethereum has the edge because the acceptance of the established cryptocurrency is much higher. Meanwhile, there are quite a few casinos where you can pay with Ethereum, but not with EOS.
How do I deposit EOS in the casino?
For transactions, you need a personal account at the EOS Casino and a wallet address. Basically, it is super easy to set up an account at Coinbase as well as at Bitpanda, Binance or even Exodus. First, money has to be deposited there in the standard currency, which is euros in this case. This credit can be exchanged for cryptocurrencies like EOS as desired.
A unique address is generated by the online casino. In addition, there are the memo codes with which bookings are additionally secured. In the own wallet account, both data can be entered. The amount is freely selectable as long as it is available on the Wallet. If the information is correct, the EOS tokens are booked to the specified casino account within minutes.
Conclusion on EOS Casinos in Canada
EOS may still be less significant than Bitcoin and other digital currencies. However, the prognosis for the coin is very good – also and especially in view of the many advantages mentioned, from which online casino players could benefit.
It certainly doesn’t hurt to get to grips with the currency and its peculiarities early on. Provided that the gambling industry continues to change, the chances are quite good that EOS will eventually establish itself alongside well-known coins.