What’s Ethereum worth?

Fiat currencies are ‘traditional’ currencies like dollars, euros, sterling, yen and rouble. Central banks and governments control these, and you use them every day.

Of course, Ethereum’s value is determined by its value in relation to leading fiat currencies. ETH launched at $0.31 and witnessed its all-time high of $4,735 in November 2011.

Like most cryptos, it’s dropped in value since the turn of the new year. As of January 2022, Ethereum is down to around $2,400.

Ethereum has a total market cap of about $330 billion with daily trading volumes of around $30 million.

Oh, and don’t confuse Ethereum with Ethereum Classic, a much smaller token that isn’t accepted at any ETH casino or any Bitcoin casino, for that matter. Ethereum Classic has a value of $20 for comparison. 

Provably Fair Ethereum Casinos 

Provably Fair technology is used at the best Ethereum casinos and other crypto casinos. To define it, provably fair is an algorithm that checks and verifies an online casino’s fairness towards its players. Provably Fair games cannot be influenced or cheated in any way.

It’s even more robust than Random Number Generators (RNGs) used at traditional fiat casinos where players still need to trust the external testing was fair.

Playing at an Ethereum casino with Provably Fair games is a huge plus point. Most, if not all, casinos at Gambling Crypt have Provably Fair games.  

Advantages of Ethereum Casinos

Easy for both customer and the Ethereum casino

Ethereum payments make life easier for both the player and the operator. There is no need to worry about annoying government legislation and regulation demanding intrusive checks and detailed record checking.

Anyone who wants to start Ethereum gambling, and has ETH in their crypto wallet can start playing. Accepting cryptocurrencies like ETH, Bitcoin Cash, Bitcoin, etc removes all the annoyance and cost of relying on third-party payment providers – more freedom for clients and the online casino.

Both deposits and payments should be extremely fast, unlike traditional banking methods, which can take days. No waiting to grab your welcome bonus! 

Game selection 

A typical Ethereum gambling site will offer every casino game you can wish for – table games, live dealer games, super slots, live casino games like Monopoly Live and Deal or no Deal,  jackpot slot games, and much more. There is generally more game variety at Ethereum gambling sites than fiat casinos.

When choosing an Ethereum casino site, look at what game providers the ETH casino has. You want a mix of table games studios, slot casino game providers, and an online casino with plenty of live dealer titles. 

You can also find Ethereum gambling site with sports betting too. Many crypto casino platforms are adding sports betting to their offering as they become more successful and take customers from traditional online gambling websites. 

Having a better choice of table games, and other games, gives you more choice on what to enjoy your welcome bonus on. 

Better Bonuses

Most players will be choosing an ETH casino based on the casino bonus/welcome bonus available. Examples of the sort of casino bonus you can find at the best Ethereum casino site would be a welcome bonus, deposit bonus, a Free Spins bonus to use on a slot game, live dealer or live casino game bonus, and free cash that you can use on a selected slot game or table games, cashback bonus, and a reload bonus.

The best Ethereum casino will offer a combination of these bonuses, a welcome bonus as standard but regular promotions to keep you loyal throughout the year. Bonuses, particularly a welcome bonus, is always more generous than normal casinos. 

Want a tip? Check with customer support before you make your first deposit to make sure you claim the best offer for you. 

Privacy

Ethereum provides you with privacy protection. Some of the best ETH casinos will let you sign-up without sharing any personal details – just create a username and password.

Even if you need to provide data, your payment details are always secure and can’t be checked by banks or anyone else. ETH crypto casino transactions won’t show up on your bank statements and are safe from prying eyes.

Ethereum is decentralized, too, so your funds can never be blocked or frozen like traditional fiat currency can be. Online casinos that support the Ethereum blockchain will give you the advantage of super transparent transactions. 

Verification

With every transaction recorded on the blockchain, you can prove you made a payment, and a Ethereum casino or Bitcoin casino can likewise do the same. This is valuable if you are ever in dispute with an online gambling casino over transactions. With traditional payment methods, you are at the mercy of banks – with an Ethereum casino, you are in control. Visibility means verification!

Worldwide acceptance

Ethereum is democratic. It doesn’t matter who you are or where you reside; your Ethereum is respected and accepted globally at all the best Ethereum casinos and Ethereum gambling sites.

Get around repressive online gambling laws, gambling site blocks, and expensive and challenging payment providers, and join millions of other players across the world safely enjoying Ethereum gambling sites and every day. 

NFTs

While NFTs have centred mainly around the selling of expensive jpegs, NFTs could transform the casino landscape. Imagine buying NFTs that let you get extra cashback or rebates, access to exclusive promotions and more, and then be able to sell them and trade them with over players? It’s the future of casinos, and innovations like this are coming soon to an Ethereum online casino near you!

It’s fun!

As with most cryptocurrencies, what you can do with your ETH is quite limited apart from trading and buying NFTs.

Playing at the best Ethereum gambling site and ETH casino lets you do something with your tokens and gives you the chance to boost your crypto wallet.

Disadvantages of Ethereum Casinos 

Ethereum casinos are still relatively new, so they aren’t perfect yet. Here are a few disadvantages of playing at Ethereum casinos.

Gas fees

Every ETH transaction incurs a fee, called a gas fee. The busier the network, the higher the gas fees. People can choose to pay higher gas fees to get their transactions processed first.

This has led to a situation where rich ETH holders who want to push their transactions through first are driving up gas fees to ridiculous levels. This averaged over $50 a transaction during December 2021 and frequently went above $70.

Clearly, this is not sustainable and is not well-suited to casino deposits unless you are a very high-roller who doesn’t care about losing a large percentage of their deposit in gas fees. Bitcoin Cash, Litecoin and Ripple are all better suited to ETH in its current form. A much-awaited update should allow more transactions to be processed per second, but Ethereum still has to catch up with new faster rivals.

In conclusion, be aware that an Ethereum deposit or other Ethereum transaction may incur fees!

Be clever

Although there are numerous scams targeting people with fiat currency, with cryptocurrency, the onus is eve much on the player to be clever and keep their crypto safe. Every week new stories are published about scams, hacks, thefts etc.

Be careful with your Ethereum. Keep your wallet details safe, preferably offline. Remember, if you lock yourself out of your wallet, you can’t access your Ethereum. You won’t be able to make withdrawals or further deposits to a casino as you won’t have access to the wallet.

And ETH being free from central control has more benefits than disadvantages, but no one can help you if you have problems or disputes. And if you choose to play on some of the unregulated Ethereum dapps, remember that smart contracts cannot be changed after you have agreed to them. 

Also, be sure you are sending any Ethereum to the correct wallet, and that you trust the Ethereum online casino. There are no refunds or chargebacks possible! Any doubts regarding transactions or your welcome bonus, speak with customer support before making a transfer!

Price fluctuations

Ethereum has arguably been more price stable than Bitcoin in recent years, but ultimately all tokens are affected by the big price swings common with Bitcoin.

While casinos have mechanisms to protect both you and them from wild price fluctuations that can affect the value of your deposit and withdrawal, not all do, and you can lose value.

Try finding the best Ethereum casinos that tie your deposit to a fiat currency amount, so your deposit keeps its value no matter what happens on the market. You can also know exactly what your welcome bonus will be!

Ethereum scam casinos

Unfortunately, too many people are being scammed out of their Ethereum by playing at fake and scam crypto casinos. Choosing a casino from Gambling Crypt will protect you against that, but even so, it’s essential to check your casino is licensed, has a good reputation, and that the games and welcome bonus terms are fair.

Poor quality written text on-site, no license information, an unfamiliar game offering, and a bonus or other promotion that seems too good to be true are all warning signs of a fake Ethereum casino. Another thing to look out for is live chat customer support – Ethereum gambling scam sites are unlikely to offer this. 

You’ll only find the best Ethereum casinos at Gambling Crypt!

Ethereum Casinos Frequently Asked Questions