We are seeing a rise in the number of people placing bets using cryptocurrency. When you think of crypto betting you may think of placing your wagers with Bitcoin but Ethereum is on the charge and becoming more and more popular. Some crypto betting sites that purely focused on Bitcoin are now offering Ethereum as an alternative to their customers, so if you trade in Ethereum then you have the chance to spend it by placing bets.
Just like Bitcoin betting, there are many advantages to betting with cryptocurrency. The biggest for most people is the increase in betting limits, you will often find these to be higher for crypto bets than standard wagering.
Anonymity is also a big point for many punters, and if you want to try and remain anonymous while you are betting then this method of gambling is certainly the way to do that. Expect to see some big bonus offers too, with free bets and much more available, and often bigger than what you will see elsewhere. Bitcoin betting began things, but Ethereum betting is certainly catching it up and is becoming a popular option for those looking to place bets online.
Ethereum Sports Betting
Ethereum was one of the first major top rated cryptocurrencies to appear on the market back in 2015, and since then it has become one of the most popular currencies to use as an alternative to fiat money.
People are asking these questions
⭐ What makes Ethereum sportsbook unique?
You dont need to enter personal information or to provide proof of identity to the Ethereum betting site that you choose to use. Also speed of transactions sets Ethereum apart from regular currency sports betting.
⭐ How big Ethereum bonus you can get if you register in ETH sportsbook?
Biggest bonus you can get, if your register in 1xbit site. This crypto bookmakers gives bonus up to 7 BTC, which means up to around 280 ETH cryptocurrecies.
⭐ How many legitimate Ethereum betting sites are there?
Legitimate Ethereum betting sites make up a small percentage of the online betting market. There’s not much of them and it can be tough to separate the legitimate ones from the fly-by-night ones on your own. Usually, it’s best to rely on a 3rd party reviewing site to help you find the legitimate bookmakers for Ethereum.
⭐ How Ethereum works?
Ethereum is a completely different kind of cryptocurrency that you store in an online ETH wallet. Used much like actual cash, the Ethereum is deposited in a sports betting site that accommodates this currency. Everything is done through this medium, which means that you also withdraw Etherium instead of cash.
⭐ Where to buy Ethereum?
Ethereum can be bought through many brokers of the currency online. In the same way, the currency can be sold to these brokers so that you can convert it to real money and make a deposit in the bank.
⭐ How far will Ethereum go?
Holding strong, Ethereum looks like it will be here to stay as an ideal alternative currency for sports betting. The value of Ethereum, however, changes from day to day, depending on market demands.
⭐ How Ethereum mining works?
The “mining” process is often done by solving puzzles using complex computations, all while competing with other miners. It usually takes specialized hardware and software to mine this currency.
⭐ How many ethereum are there in the market?
There is no cap to the Ethereum, but there were about 114 Million Ethereum in circulation.
⭐ UK sites that accept Ethereum?
❌ UK sites which have a UK gambling licence can’t accept crypto payments.
It never reached the heights of Bitcoin back in 2017, but it has maintained a steady valuation above $50 since 2017 and is currently valued at around $230. It can be used for a variety of purposes, but it is becoming more and more popular as a choice for online betting due to its wide range of advantages over regular betting.
What makes it unique?
Ethereum differs from its main counterpart, Bitcoin, in that it revolves around its own creation, Ether, to fuel its currency. It also allows for other contracts and applications that are highly secure, giving Ethereum much more variety in terms of what it can be used for. It even utilises its own programming language, adding to the versatility of this cryptocurrency (read this – Ethereum price prediction)
Betting with Ethereum Advantages
The main advantage of betting with Ethereum is the same advantage held by most cryptocurrencies, in that it allows for ETH sports betting without the need to enter personal information or to provide proof of identity to the Ethereum gambling site that you choose to use. It is a highly secure way to use money, with a lot of encryption keeping accounts and transactions safe from prying eyes.
The speed of transactions also sets Ethereum apart from regular currency for sports betting, as you can enjoy almost instant deposits and Ethereum withdrawals on most occasions. However, as with other cryptocurrencies, and indeed regular currencies, ETH betting does come with its own disadvantages too (read this – how to bet with Ethereum).
Betting with Ethereum Disadvantages
The lack of availability of Ethereum at sports betting sites is the main reason this cryptocurrency is not used as often as Bitcoin betting for example. Most sports betting sites don’t offer any cryptocurrency betting options and those that do tend to only offer Bitcoin. However, there are still some Ethereum betting sites out there that do offer Eth sport bet.
The volatility of Ethereum is another disadvantage, as its price against the dollar or the pound fluctuates much more than those two currencies do themselves. This can be a disadvantage when your account loses value overnight, but there is always the possibility that it will go the other way too.
Ethereum is also just a lot less familiar than normal currencies, and for some even than Bitcoin. This can make it difficult to get used to, but when you do it can be an effective way to Ethereum bet online.
How is Ethereum Used for Sports Betting? Is it Safe Bet with Ethereum?
Ethereum is offered at only a handful of ETH bet sites, but it works in the same way to other currencies and other cryptocurrencies. You can deposit and Ethereum withdraw funds, and you can place bets on a wide variety of sporting events.
The process of depositing is slightly different, however, as you will first have to select the amount that you wish to deposit and then you will be sent an ETH transfer request from the sportsbook itself. You then send the Ethereum to the sportsbook and it will appear in your account, usually in US dollars.
In terms of safety, there are obviously some concerns. With the lack of regulation of cryptocurrencies and sports betting Ethereum, it is not only hard to come across a betting site that accepts Ethereum as a form of payment, but it is even harder to find one that is reputable for being safe and secure.
More and more options are coming onto the betting scene, however, making it easier to find Ethereum gambling sites. You just need to make sure to do your own research, as finding a safe Ethereum sportbook to use can change the way you bet for sure. The actual transactions made using Ethereum are some of the safest possible due to its extensive encryption, but there are some occasions where you will have to be wary of the actual site you are using betting on Ethereum.
Where to buy Ethereum cryptocurrency?
You can buy Ethereum from an Ethereum exchange, of which there are plenty across the world. They are where Ethereum transactions take place and they work in a similar way to your regular online bank. You can deposit and withdraw funds, and then you can follow the procedure outlined above to send funds to your chosen betting site.
When it comes to choosing a Ether betting site, you want to find one that supports Ethereum bets first of all, and then you might also want to consider how reputable the site is. Once you find a safe site, you will be able to bet on all of your favourite sports and more in a similar fashion to how you would with real money.
Ethereum is available for buying, selling, and trading on a wide number of exchange and trading platforms. There are over a hundred platforms that support ETH, you can change and bet Ethereum. Most popular is Binance, Gemini, Coinbase Pro. Ethereum is paired against various fiat and crypto, with ETH to BCH, ETH to LTC and etc. In these exchanges you can changes US dollars and Euros to Ethereum crypto, also paired these currencies – ETH to AUD, ETH to GBP.
Ethereum Review Conclusion
Ethereum sports betting is a relatively novel way of doing things, but it can be a very safe and effective way to place your bets. You can take advantage of the anonymity of the cryptocurrency, along with the high transaction speed that can make for a more streamlined betting Ethereum process. You will have to make sure that you pick a betting site that actually offers Ethereum, as these can be hard to come by.
There is also the issue that we found in this Ethereum review is that security due to the lack of regulation of these Ethereum gamble sites. But find a site that suits you and is known for being safe for Ether bet and you can take full advantage of all of the benefits that Ethereum casino or sports betting has to offer.
Ethereum Calculator & Converter
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Use our Ethereum calculator, where you can easily convert 1 Ethereum to USD or 1 Ethereum to EUR. This ETH converter can convert 17 most popular currencies in the world. For today 1 ETH to USD and 1 ETH to dollar US is worth around 3000$, 1 ETH to EUR is worth around 2500€, 1 ETH to GBP is worth 2200£, 1 ETH to AUD is worth 4300$. But prices changes every second, so you can do your math with our Ethereum price converter.