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INFORMATION ABOUT ETHEREUM CASINOS
Cryptocurrencies have a turbulent history of steep rises and falls, but Bitcoin and several altcoins have emerged from the chaos to become deposit currencies for a range of online casinos.
Ethereum — or its currency Ether — is probably the most famous of these altcoins. Formed as an alternative to Bitcoin in 2015 (hence the term 'alt'), users can pay for online purchases with it, use it as the basis for smart contracts, or deposit it into an ETH casino.
You've visited this page because you want to find an Ethereum casino in the UK to play on, and Casino Meter will help you do that.
Read on to find out how to make an Ethereum casino deposit, what the pros and cons of using it are, and the background story to this world-famous altcoin.
Read on to find out:
The history of Ethereum
After several trial runs, Ethereum finally launched in 2015 when its creators Gavin Wood and Vitalik Buterin declared it ready for use.
Note: Like Bitcoin, it was a decentralised cryptocurrency running on Blockchain technology that promised to revolutionise online payments. However, it has introduced a few key differences since then.
- Eth started out with an initial supply of 72 million units (which can change) compared to Bitcoin's set-in-stone 21 million
- Ethereum uses a proof-of-stake system, which is more energy efficient than BTC's proof-of-work
- Eth uses blockchain to store computer code that powers smart contracts and decentralized apps (dapps), whereas Bitcoin doesn't. This is why ETH is one of the chosen currencies for non-fungible tokens (NFTs).
Its multitude of use cases meant that Ether was one of the big risers in the crypto boom, with its value rising by 600% in the first quarter of 2021 alone. However, it has also dropped significantly (along with other coins) in the so-called 'crypto winter'.
A big crisis moment also shook Ethereum to its core, so much so that it led to a splitting of the currency into two versions, known as a 'hard fork'. This was after a hacker stole $50 million of Ether in a huge online robbery.
ETH developers voted to hard-fork the blockchain to reverse the theft, which led to two versions, ETH Classic and Ethereum 2.0. The latter was designed to be quicker and more efficient.
Note: Despite its numerous crises, Ethereum is still a major force in the crypto world and is the reason why many ETH casinos are happy to accept it as a deposit method.
The pros and cons of using Ethereum
Anyone who's used crypto will know that its use of blockchain makes it an uber-secure way of transferring funds. Blockchain makes fraud virtually impossible with its use of encrypted data, and fiat deposit methods are yet to match the iron-clad security of crypto.
ETH also has an advantage over BTC in that it's more energy-efficient thanks to its proof-of-stake method. Not only is this better for the environment, but it also saves miners money in energy bills when generating new coins.
Note: Despite its secure nature, ETH is also more susceptible to sudden price drops. Since late 2021, this has become the norm, so it's entirely possible that your ETH stash could drop by, say, 10 or 20% overnight. It could also rise, of course, but such a volatile nature adds too much of a problem gambling element to it for our liking.
It's also good to remember that not so many online casinos accept ETH compared to fiat currencies, or even other cryptos. You may find you have limited options on this page compared to the likes of Visa and Mastercard.
Whether you decide to deposit with ETH or not, make sure you're fully clued-up about the possible pitfalls of doing so before taking action.
How can Casino Meter help you find the best ETH casino
Finding an online casino that accepts Ethereum is just the first step. The next, more important, stage is making sure that you use a good casino: one that will make your playing experience as enjoyable as possible.
Casino Meter will help you do this with our tried-and-tested review and rating system, accompanied by a set of quick filters and sorting tools.
The list of ETH casinos you see before you are arranged in order according to their special Meter rating, with the highest rated at the top.
The rating is composed of several important factors that our team of experts have taken into account, including the casino's annual revenue (and thus its ability to pay out big wins), the number of complaints it's received, its customer service, and even its range of games.
Note: We advise you to start your hunt with the best online casinos possible, but you may choose to filter your options with other factors, depending on what you're looking for. Here's where our filters and sorting options come into play.
Mobile ETH casinos
Sometimes you just want to play on the go. These mobile casinos will let you do that. To be honest, most modern internet casinos have a mobile version these days, but this filter will help you root out those that don't.
New ETH casinos
Click on the drop-down menu (where it says 'Best rating') and choose 'Newly opened' to put the newest ETH casinos at the top of the list. These are something of an unknown quantity, but may come with a review and rating to give you some idea about them.
ETH sites with games from your favourite providers
You may have games by certain developers in mind: after all, the likes of Red Tiger and IGT have a big UK presence. This filter will isolate just those ETH casinos with their games, if that's what you're looking for.
Frequently asked questions (FAQ)
How do I make an ETH casino deposit?
Cryptocurrencies are very different to the likes of USD and GBP, of course, but thankfully the casino deposit process is quite similar.
Once you've opened your ETH casino account, you can follow these simple steps to get the crypto into your balance and start playing.
- Select 'ETH' from the list of the casino's deposit methods
- Copy the casino's crypto wallet address
- Go to your wallet and paste the link into the 'Send ETH' section, as well as the amount you'd like to transfer
- Double check all the details then click 'Send'.
ETH transfers are normally instant, so check with the casino or your wallet if the funds don't appear there after an hour or two.
Is it easy to find ETH casino bonuses?
Many ETH casinos offer online casino bonuses, mostly to new players but sometimes existing players as well.
Head to our list of online casino bonuses and search for 'Ethereum' or 'Ethereum Classic' in the Payment Method filter. You'll then see all the bonuses from ETH casinos, which you can whittle down according to their type in the 'Filter Bonuses' section. Deposit bonuses are most common, but there may be a few no deposit bonuses in there, too.
Am I more likely to win in an ETH casino?
No. Your chances of winning don't depend on the deposit methods a casino accepts, but the games it has. Even then, it's very difficult to say which casino you're more likely to win at.
Your best chance is to check out each casino game's Return to Player (RTP) percentage. If it's 98%, then for every £100 you spend, you'll get back £98 on average. Bear in mind, though, that this is just an average: you could lose much more.