Ethereum is the second-largest cryptocurrency in the world and is quickly becoming one of the popular options for betting payments. Many bookmakers today have added Ethereum as a mode of transaction in addition to common methods such as UPI and bank transfers.
All transactions carried out via Ethereum are decentralized, meaning it does not involve banks or governments, and does not leave behind any paper trail. It also uses blockchain technology, which makes all transactions quick and cost-effective.
Nevertheless, you can rest assured that the transactions you carry out on Ethereum betting sites are secure.
Best Ethereum Betting Sites in India
The number of sports betting sites that accept Ethereum grows by the day. Below are a couple of Ethereum betting sites that stand out among their competitors.
As a bookmaker, Stake offers you sports betting as well as casino gambling options along with the option to place bets using Ethereum. Unlike other betting websites, they do not give a welcome bonus, but as far as crypto betting goes, they are considered as one of the best in the industry.
Using Ethereum, you get the choice of playing 1,000+ games, including 16 of Stake’s own. You can deposit any amount that you deem fit in your account, as Ethereum comes without any deposit limit. However, when it comes to withdrawals, the minimum limit is 0.004 ETH.
Despite Bitcoin ruling the crypto industry as the primary source of transaction, Ethereum has managed to hold its own, thanks to sites like BC.Game that accept it as a source of crypto payment. This bookmaker offers you some of the most attractive live betting options on sports such as tennis, football and baseball.
You get a comprehensive list of live events along with betting odds as well as a list of upcoming games so that you do not miss out on any action. BC.Game is committed to offering you some of the best bonus offers in the industry. With Ethereum, you can carry out lightning-fast transactions, preventing much waiting time, instead getting back to betting and gambling activities.
BlueChip, too, allows transactions using Ethereum, with the minimum limit for deposit and withdrawal set at 0.01 ETH and 0.02 ETH, respectively. BlueChip offers live Ethereum sports betting, including cricket, as well as live casino games such as blackjack, baccarat, roulette and Andar Bahar.
By signing up, you can receive the outstanding Bluechip welcome offer to make your stay with the betting site memorable.
Advantages of Ethereum Betting
There are several benefits to Ethereum betting as compared to other payment methods. For instance, in comparison to bitcoin, Ethereum transactions are much quicker and carry low fees. Ethereum also makes use of smart contracts so as to ensure fair gameplay amongst its members. Ethereum betting sites carry several advantages as listed below:
- Anonymity: Cryptocurrency, including Ethereum, lets you play incognito. The result of this is that your personal information will remain a secret to all, including your chosen casino
- Faster transfers: Ethereum transactions are faster and take anywhere from 15 seconds to 5 minutes
- No government intervention: All your finances remain free from any kind of interference from the government or financial institutions. You are in complete control of your money
- Minimal fees: As compared to fees charged on regular money transactions, sending Ethereum is considered much cheaper
- Free payouts: Many casinos charge around 7.5% for other methods of transfer when it comes to payouts. On the other hand, payouts while using Ethereum are completely free
Bonus hunter & payments expert
Ethereum may not be as popular as Bitcoin yet, but all crypto betting sites that accept Bitcoin also accept Ethereum. If you do not own any Bitcoin, I believe Ethereum is a great alternative.
How to Get Started with Ethereum
Whenever you think about cryptocurrency, the first name that comes to your mind is Bitcoin. However, there are other mediums that you can use to transact digitally and Ethereum is one of the most popular ones.
The easiest way to buy Ethereum in India is through crypto currency exchanges. Ethereum wallets allow you to interact with your Ethereum account similar to how a bank mobile app lets you interact with your bank, only in this case there is no bank. The wallet lets you do everything, from checking your balance to connect to other applications and carry out transactions.
Some of the most popular exchanges through which you can become the owner of Ethereum include Binance, Coinbase, Crypto.com, MoonPay, and WazirX, to name a few. Argent, MyEtherWallet, imToken, Squarelink, MyCrypto, and Squarelink are the most trustworthy Ethereum wallets available today.
Here’s how you can get started :
- Establish a digital wallet: Choose a reputed digital wallet that deals in Ethereum. Look up different options and opt for the one that matches your requirements in regards to security and accessibility.
- Pick a cryptocurrency exchange: WazirX, Binance, Coinbase, etc. are some of the most trustworthy crypto exchanges that allow you to buy Ethereum. They operate in India and can be ideal platforms for your Ethereum needs.
- Become a member: Once you have settled on a crypto exchange, create an account with them. Provide all the necessary information as required by them, including personal identification documents for verification.
- Deposit funds: After your verification is complete, you need to deposit funds. While some exchanges allow you to deposit funds in the form of currency, others will require you to use other cryptocurrencies as deposit.
- Place a buy order: The trading section of the exchange will give you detailed information about the trading pair. For instance, you can choose ETH/IND or ETH/BTC. You must also specify the amount of Ethereum that you want to buy or the amount of fiat currency you wish to spend. Once done, review the order and confirm your order.
- Secure Ethereum in wallet: After completing your purchase, withdraw your Ethereum from your exchange to your digital wallet. Your crypto is much safer when secured by a digital wallet as opposed to keeping it in an exchange. That way, you get complete control of your finances.
- Make a deposit from your wallet to the Ethereum betting site: Visit your crypto betting site and login using your details. Then, click the Deposit button and follow the instructions and enter the deposit address to send currency from your wallet to the betting site, and start playing.
See to it that you take necessary security measures in the form of using strong passwords and enabling two-factor identification. Since cryptocurrency is digital, it may be subject to hacking attempts. Finally, keep yourself updated on the regulations surrounding cryptocurrency in your country or region.
What is Ethereum?
Ethereum is a blockchain technology and a community for members to transact currency for services without facing any interference from central authorities. Although it is designed to pay for work performed towards the blockchain, it can also be used to buy tangible goods and services.
It is programmable and decentralized and used in many industries that deal in technology, including a number of online betting sites. It supports smart contracts, which is a key aspect when it comes to decentralized applications.
Conventional betting sites are notorious for charging higher fees on winnings. This forces you to assess the credit/debit card fees, withdrawal and deposit fees, etc. charged by such bookmakers.
Presently, however, with betting sites shifting their attention to crypto payments, using an option like Ethereum can help you eliminate such fees. You can not only save a good chunk of money, but also time since the transactions are carried out fast.
One of the greatest aspects of Ethereum while withdrawing your winnings is that there are no fees. There may, however, be reduced fees for miners and their associates.
Is Ethereum Safe?
Ethereum is a decentralized blockchain platform and includes an application mode called smart contracts. Smart contracts permit users to transact with each other without a central authority like the government or banks to mediate between them.
Like Bitcoin, Ethereum is considered as one of the most secure payment platforms in existence. There is still room for improvement in order to prevent hacking attempts. Nevertheless, with a strong security you can keep your finances secure as compared to traditional methods.
Yes, Ethereum is one of the legal mediums used by many online betting sites in India such as BC.Game, Stake, Sportsbet.io and 22Bet, to name a few.
While Bitcoin serves as a digital currency and focuses on peer-to-peer transactions, Ethereum is a blockchain platform that develops decentralized applications and smart contracts. Transactions carried out using Ethereum are also much quicker as compared to Bitcoin.
Initially, Ethereum was secured by a decentralized network of nodes, also called miners. Today, they are secured by stakers, which are responsible for ensuring that the blockchain is valid and secure. In the case they fail to keep the blockchain secure, their Ethereum stake is slashed and they get removed from the network.