Ethereum

Best Ethereum Casinos 2021 for Canada

Ethereum, also called ETH, is a decentralized open-source blockchain system. The cryptocurrency is significantly less known and less popular than Bitcoin, but it could play an increasingly important role in online business in the future. This also applies to the gaming sector, where more and more platforms are including cryptos in their payment portfolios.

Although the selection of Ethereum casinos is currently still manageable, our experts have been noticing a clear trend towards this alternative payment method for some time now, which is

• secure and anonymous
• without the involvement of the bank
• location-independent
• usually promptly and without processing time and without processing time.

We see it as a decisive factor for this development that many casino customers appreciate the possibility to top up their gaming account relatively uncomplicated, on the go and yet as anonymously as possible. Previously used payment 💳 methods with a similar character, such as Paysafecard, Neteller or Skrill are no longer available at some casinos or are limited.

How Ethereum works in online casinos

First of all, a deposit with Ethereum is only possible in so-called “crypto casinos” – that is, providers that generally accept cryptocurrencies such as ETH. The deposit is made via well-known and secure crypto wallets, such as Coinbase or Binance, to name just a few of the established ones.

In principle, these can be compared with real money wallets such as PayPal, Skrill and Neteller. There, too, a deposit can be made in euros or any other currency. Afterwards, there is the option to exchange the fiat balance for Ethereum. As of 20.09.2021, one ETH has an equivalent value of 3,140.45 USD. The sometimes significant price fluctuations – comparable to the better-known Bitcoin – must be taken into account.

If the exchange, also called exchange, has taken place, any value may be deposited in the Ethereum Casino 🎰 within the framework of fixed limits. If one were to invest 1 ETH, for example, then it would usually come directly to the corresponding conversion after the real-time credit to the casino account. Crypto providers in the gaming industry adjust to the daily updated prices.

• Procedure of depositing via Ethereum to the casino account:
• One goes to the cashier area in the casino account
• Selects the Ethereum payment method
• Sets the desired deposit amount
• Now the casino generates a unique Ethereum address for this process
• After that, you go to your own crypto wallet and send the desired number of Ethereums to the address generated by the casino
• A few minutes after the money arrives at the casino provider’s address, it is recorded as a credit in the casino customer account

Advantages & disadvantages of Ethereum casinos

What advantages does Ethereum offer as a payment method in the casino?

Although ETH is a fairly young cryptocurrency, it already enjoys a good reputation in over 111 countries today and is officially recognized there. In contrast to Bitcoin, Ethereum also has a significantly lower value and is therefore affordable for users who do not want to exchange thousands and thousands of euros.

It is important to open a wallet before depositing ETH in the casino. This can usually be used in all known Ethereum casinos. The cryptocurrency remains stable on the market, is considered attack-proof and thus ultimately also brings various advantages to the operators of renowned casinos. Fraud is, as already noted at the beginning, almost impossible.

The most important advantages 👍 of Ethereum at a glance:

• Deposit securely and anonymously
• Transactions without direct bank involvement
• Stable cryptocurrency
• Transaction fees manageable

Paying with cryptocurrencies is permitted in this country. This applies to online casinos as well as to all other industries. In the following countries, among others, Ethereum is already accepted as a digital means of payment:

Countries (selection) – Ethereum officially accepted

• Canada
• Malta
• Ukraine
• Japan
• Netherlands
• United Kingdom
• Gibraltar
• Switzerland
• Lithuania

In addition, there are numerous other countries that recognize the currency but have never officially legalized it – including

• Mauritius
• Panama and
• Andorra.

What are the disadvantages with Ethereum casinos?

Among casino players, Ethereum, or ETH, is not as well known as Bitcoin, which has been the talk of the town for many years. Accordingly, casino operators approach this cryptocurrency with caution, and so far there are only a few better-known companies in the industry that allow deposits via ETH.

The disadvantages at a glance:

• High chance fees have to be taken into account
• Winning payout mostly in real money
• Choice of ETH casinos so far manageable

For most Etherum owners, the payout of winnings could represent a small disadvantage. Such still works almost exclusively in the corresponding currency. All the more attention should be paid to the choice of crypto wallet.

Options like Coinbase sometimes allow receiving money in the local currency. Thus, the credit can be easily exchanged back into Ethereum, if one wants to.

The test also showed that fees of around 10 euros are charged for a deposit amount of 50 euros. However, it is not the ETH casinos that are responsible for these costs 💰, but the wallet that is used to exchange the real money currency into Ethereum. A comparison should definitely be made here in order to save fees.

Tips & tricks for payment with Ethereum

When choosing a crypto casino, you should pay close attention to whether the stakes are calculated in ETH. Often, as already mentioned, an exchange takes place in euros. You can then usually not have the earned credit transferred to a bank account, but only to the wallet specified during the deposit. In addition, you should of course ask whether the casino takes the exchange rate fluctuations with it.

The historical development of Ethereum

The history of the cryptocurrency can be traced back to 2013. At that time, ETH was first mentioned in a whitepaper by Vitalik Buterin, a Russian born in 1994. However, the release of the currency only became a reality in the summer of 2014, when Gavin Wood, as co-founder, published a yellow paper (founding declaration) on Ethereum.

The digital currency was launched on June 30, 2015, when an online crowd-sale was projected, enabling the two founders to make their vision a reality. With Ethereum, the founders pursued the goal of creating a global platform for decentralized applications. Success was not long in coming.

After only about seven months, on February 29, 2016 to be precise, Ether, the currency behind Ethereum, reached a market capitalization beyond the $500 million mark. It took less than two weeks from that point to double in value.

For the first time, Ethereum Classic was the target of a hacker attack in 2019. However, “only” around 1.5 million US dollars could be captured in this one. In general, the cryptocurrency 🪙 is one of those that are comparatively attack-proof – more so than ever since the incident. On top of that, censorship, failures and fraud with the currency can also be almost ruled out.

Ethereum FAQs

The Ethereum blockchain network has since had “offspring”. Ethereum 2 – or ETH 2.0 is considered even more secure, but is still listed as Ether. For owners of the cryptocurrency, the variant does not matter when depositing into the casino. It is more important to familiarize yourself with common questions around the payment method.

Does crypto casinos have a special Ethereum casino bonus?

Of course, the bonus policy of the respective online casino also applies to payments with cryptocurrencies. However, in our extensive casino tests, we could not find any provider that explicitly offers bonuses for using Ether in payments.

However, this fact has no influence on the awarding of other bonus offers, such as the welcome bonus. Those who want to claim this and make their first deposit with Ether will of course receive the welcome bonus in Ether as well.

For example, the welcome bonus offer at Cloudbet Casino includes 100% up to 5 BTC/BCH/ETH/PAXG/DASH/LTC, 100 LINK, 1,000 USDT/USDC/DAI/PAX or 10,000 DOGE. So those who deposit 5 Bitcoins will also receive 5 Bitcoins as welcome bonus.

Those who choose Ethereum will receive 5 Ether. The monetary difference is of course immense and amounts to around €244,000 in our example (5 BTC are around €260,000 💶, 5 ETH are around €16,000 [as of 10/18/2021]).

At most, high rollers will be able to afford such sums. However, the minimum deposit to qualify for the welcome bonus at Cloudbet is only 0.01 BTC/BCH/ETH/PAX.

If the favorite Ethereum casino can also be played with Ethereum, all bonuses are also paid out in Ether. If the provider converts deposited Ether into fiat currencies, the bonus will also be paid in this currency.

Where do I get Ethereum?

There are relatively many established crypto exchanges today, such as Bitpanda. These can be used as a wallet at the same time. After registering, a deposit can be made using common methods – including instant bank transfer, by the way.

The fiat currency, in this case the euro, can be exchanged for any cryptocurrencies on the Exchance 💸 exchange. In fact, ideal are always those exchanges that allow both an exchange in ETH and holding the coins.

Good addresses are:

When buying, you should keep an eye on the current rate for a bit. Such trades are recommended when the price is just quite far down. Especially before the official breakthrough, Ether was affordable at a few cents per coin. But even today, the costs for an Ethereum purchase are much more manageable than for Bitcoin.

Are Ethereum wallets secure?

It depends on which wallet is used. Especially because the sales market for ETH is now huge, it is essential to protect yourself from black sheep. We recommend choosing one of the wallets designed by our experts for buying and managing Ethereum. There, security, data protection and also protection from unauthorized access are the top priorities.

How do I find reputable Ethereum casinos?

In general, a crypto casino does not necessarily have to have a license according to Canadian transitional rules. Providers without a planned license in Canada can also be quite reputable.

What is important here is that the chosen company is controlled overall – be it in terms of payout rates, payment methods, support 💬 or other factors.

Provided that these requirements are met, it is of course convenient for players if transactions with ETH are permitted on top of that. The decisive factor is whether the crypto wallets used actually work. Sometimes, a prior transfer via cryptocurrency may be required.

Which countries accept Ethereum?

According to specialist portals, there are now more than 111 countries in which transactions with ETH are possible. Canada is among the destinations in Europe that legally accept the currency, while others generally only tolerate crypto coins, but have not officially legalized them to date.

If the preferred crypto casino accepts Ether, this will be shown in the cashier just the same. Usually, it says something about Crypto Currency. This is a kind of separate wallet to which all known coins can be deposited. Alternatively, payment can usually be made via more familiar alternatives such as Bitpanda.

Where can I find details about the ETH value?

Daily updated values are listed in the wallet used as well as on common crypto exchanges. Once you have registered and accumulated Ether, you will quite quickly get an overview of the value, which usually fluctuates daily by a few euros. Even when not speculating and trading on the crypto exchange, it makes sense for owners of ETH Coins 🪙 to always keep an eye on the prices. Especially when the price is down, it is worthwhile to buy.

At currently around $3,140 (as of September 2021), the value is significantly below that of Bitcoin. Whether Ethereum will eventually manage to catch up with its big competitor among crypto coins cannot be said with certainty. The main thing is to find out about the rates in advance, because the higher the value, the more likely it is to be worth making a crypto deposit with Ether to the online casino, of course.

How long does it take to make a withdrawal using Ethereum?

Depending on the casino, a payout of winnings can be made in ETH, but mostly the providers rely on classic real money currencies such as the euro. The conversion of the coins is already done with the deposit, so that money can be used in games in the classic way.

A credit to crypto wallets is usually common, provided that the deposit is also made this way. The payout is based on the current value, so it is also paid out in ETH. Waiting times of two to four business days are common for payouts in reputable crypto casinos.

Are there Ethereum alternatives?

Blockchain solutions are now plentiful. Thus, the challenge is to find alternatives that are as stable and secure as Ether. The best known is, of course, Bitcoin. Recently, another option has been added to this: Bitcoin Cash. We will explain more about this in a separate test. Litecoin is also well established.

Although the selection is quite extensive, not all cryptocurrencies are automatically accepted by established online casinos. Therefore, it is important to take a closer look and to acquire coins that can be used to make a deposit.

Conclusion on Ethereum casinos in Canada

The options for depositing in crypto casinos with Etherum are not too extensive – not yet, because currently this currency is becoming more and more popular. The manageable value of the coins is particularly advantageous. A purchase is therefore currently more worthwhile than the purchase of bitcoin, which has a significantly higher price.

It is usually possible to pay in ETH via common and reliable crypto wallets without any problems. The fact that the payout is currently almost always made in fiat currency will probably not remain so permanently. The casino operators are working at full speed on further innovative solutions, whereby the exchange rate fluctuations in particular present them with a challenge.

Buying Ether is relatively simple. A wallet like Bitpanda or Coinbase enables both this and trading with coins – which is, however, a completely different topic and ultimately has nothing to do with ETH payment in casinos.