Will Ethereum Overtake Bitcoin in Casinos?

More and more online casino players are using Bitcoin because it’s anonymous and doesn’t involve any fees. But could there be a day when a new cryptocurrency becomes the new favorite at online casinos? Like, say, Ethereum? Like Bitcoin, Ethereum uses its own version of blockchain. But Ethereum differs in that you can host a […]

ethereum-bitcoin-casinosMore and more online casino players are using Bitcoin because it’s anonymous and doesn’t involve any fees. But could there be a day when a new cryptocurrency becomes the new favorite at online casinos? Like, say, Ethereum?

Like Bitcoin, Ethereum uses its own version of blockchain. But Ethereum differs in that you can host a crowdfunding campaign, or another style of “smart contract.”

According to Inc.com, another difference is that this cryptocurrency seeks to create a decentralized internet. And some think that Ethereum has a realistic chance to create the “new internet.” In essence, Ethereum would replace many of the ways that we execute and host code online.

Bitcoin is still the king of cryptocurrencies right now, commanding a $34 million market cap. Ethereum, on the other hand, has a market cap of $17 billion. While this makes Ethereum the second most-valuable cryptocurrency, there’s still a long way to go to catch Bitcoin.

So why the Optimism for Ethereum?

ethereum-online-casinosAfter the Enterprise Ethereum Alliance was formed, the currency’s value jump $3 billion in a single day. And while nobody expects this to be the norm, there also doesn’t seem to be any end in sight.

The problem for casino players, though, is that Ethereum isn’t available at most online casinos yet. But you can expect this to change as its value continues approaching Bitcoin.

Once you find Ethereum at your favorite casino, the easiest way to get it is through exchanges like CoinBase, Gemini, and Kraken. When you have this currency, you can store your coins on various digital wallets, or even a physical wallet (on slip of paper).

And with Silicon Valley now bringing Ethereum into the mainstream, you can likely expect to see it at more online casinos within the next 2-3 years.

 

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