After Bitcoin, it is Ethereum that represents the cryptocurrency industry most comprehensively giving birth to Ethereum casinos. At the time of writing this review, Ethereum holds nearly one-fifth of the entire crypto market globally. A few days ago, on October 21st, 2021, Ethereum attained its all-time high of $4,366.09. Who could’ve imagined that the asset that was recording its all-time low of $0.4209 only six years ago would scale such heights?
The growth in Ethereum prices is mostly because of its utility. Apart from being a decentralized open-source blockchain system with its digital asset Ether – Ethereum serves as a platform for several other cryptocurrencies. It is also known for its self-executing smart contracts that work as the backbone of decentralized governance.
Today, we will look into a different use area of Ethereum: Ethereum Casinos. However, we will start with the broader category of crypto casinos.
What Are Crypto Casinos?
At their core, crypto casino sites are online gambling venues that accept crypto payments. In these casinos, gamblers use their crypto holdings to fund their games. While the usual rules are the same as in any other online casino, the use of crypto assets empowers you with control and anonymity.
There could be two types of online crypto casinos. The first category is the crypto-exclusive casinos that deal exclusively with crypto assets. The second category, the hybrid ones, is where you get to make payments through traditional or fiat currencies as well.
But there are reasons why paying through cryptocurrencies has gained momentum in online casinos, especially Ethereum casinos. Usually, in a standard online casino, you can play the casino games by paying through your credit or debit cards or bank transfers. These transactions come under the jurisdiction of strict banking regulations.
Crypto casinos eliminate intermediaries from the process. On one hand, it brings down the cost of playing, and, on the other, you become free from the requirement of divulging your private information. It could be information regarding your credit or debit card and similar ones. Online crypto casinos stay free from such invasions.
The accessibility and inclusiveness of the crypto casinos are a big plus. These are open for anyone and are controllable from anywhere in the world. Moreover, these casinos often have to offer exciting bonuses and offers.
Advantages of Paying Through Crypto Assets in Online Casinos
The online gaming industry is vulnerable to hacking and data thefts like any other cyber entity. Hacks in online casinos often leave people vulnerable to personal information exposures. In crypto casinos, apart from the requirement of information being lesser, the wallets are highly secured. Crypto payments and withdrawals also make the payment much faster. Instant access to funds is what makes crypto withdrawals far more enticing. Some casinos keep specific games beyond a crypto paywall. You can play these games only with cryptocurrencies.
Currencies in Crypto Casinos
Crypto casinos try to include as many leading currencies as possible in the list of approved digital assets. While, given its popularity and prevalence, Bitcoin is widely popular among crypto casinos, Ether has gained immense traction as a payment method in most of the online casinos. Instant deposits, easy availability, and exchangeability, trading pairs with most of the crypto exchanges make the casino experience top-class and seamless. Many crypto casinos are accepting Ether as a payment mode. But very few can match the standards and benefits Stake.com (an Ethereum casino) has to offer.
Ethereum Casino: Stake.com
Apart from having simple signup, facilitating instant withdrawals, and offering exclusive VIP benefits, Stake.com is full of lobby games, live casinos, featured slots, game shows, and stake originals. It offers collections from a range of game developers, including Pragmatic Play, Evolution Gaming, Hacksaw Gaming, Nolimit City, Play’nGO, Push Gaming, and many more. The Crypto Gambling Foundation acts as the platform’s verified operator, while UFC serves as the official betting partner. Learn more and read our full review of Stake Casino.
Although Ethereum occupies a significant volume of the platform’s operational exchange, the platform supports a range of other digital assets such as Bitcoin, Litecoin, Ripple, Dogecoin, Tron, EOS, Bitcoin Cash, etc. Overall, the platform has more than 1,000 top drawer casino games. If you do not have crypto holdings, you can choose to buy them from the Stake.com platform itself.
One of the most enticing features of Stake Casino is its VIP program. Although it is named VIP Program, it caters to every category of players and ensures that everyone gets the most in cumulative bonuses for every dollar they wager. Some of the most exciting features of the platform’s VIP program are as follows:
As Platnum III VIPs, everyone receives a dedicated VIP host. The job of the host is to ensure that the service remains unparalleled and unmatched. The hosts are suitably available, matching your timezone needs. The intention of Stake’s casinos is always to maximize returns. The bonuses do not have any preconditions and can be immediately withdrawn or carried on to the next game. The level-up bonuses are offered either by Stake’s support team or the VIP hosts each time a player levels up to a new VIP stage.
There are three types of bonuses: Bronze, Silver, Gold, and Platinum. These bonuses can be as high as $25,000. The platform also disburses weekly boosts at 12:30 pm GMT on Saturdays, calculated based on the player’s previous seven days wagered alongside the VIP level. If level-up bonuses and weekly boosts are not enough, there is also the provision of a monthly bonus. As for the calculation of the bonus amount, it happens the same as weekly boosts, except the fact that the 7-days period in weekly boosts becomes 30-days here.
The platform also conducts frequent giveaway promotions. The weekly giveaway program, for instance, which is valid up to December 31st, 2021, has a $150,000 prize pool.
Trust and Security: A Focus Point of Stake.Com
Irrespective of the currency you are using to play, Stake.com considers fairness and trust to be the two most vital qualities for a Casino to have. The provable fairness policy of Stake.com ensures that players get to prove and verify that their results are fair and unmanipulated. The platform deploys a commitment scheme, along with cryptographic hashing to secure these. While the commitment scheme ensures that the player influences all the results generated, the Cryptographic Hashing ensures that the casino is honest to the commitment scheme itself. Altogether, it results in a trustless environment.
Then there is also the provision of 3rd Party verification. For such verifications, you need to go to the 3rd party websites that have open-sourced the verification procedure These websites are available either through Google Search or from a partly compiled list at https://provablyfair.me.
Finally, as cited already, Stake.com acts as a verified operator on the Crypto Gambling Foundation network. The foundation is known for its standards, upholding the highest standards of fair gambling.
Overall, if you are seeking avenues to put your idle Ethereum holdings to some rewarding use, Stake.com is the casino to go for. While Ethereum casinos have their advantages of high speed, instant trade and withdrawal, and low costs, Stake adds more to it. It adds a wide range of gaming options, a variety of bonuses and high-value promotions, and best-in-class trust and security. There is hardly anything better to dive into the world of crypto casinos with your Ethereum.