When the digital currency, Bitcoin, entered the scene at online casinos and other establishments several years ago, the concept was a murky, confusing one that average internet users preferred to avoid. However, the idea of a cryptocurrency soon became one with which most people had at least a passing familiarity, and the idea of such a non-traditional payment method quickly caught on. While there are many cryptocurrencies available today, Bitcoin is quite easily the most popular and recognizable, although Ethereum is quickly catching on among those who enjoy wagering real money on their favorite casino titles.
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Ethereum was developed by a Swiss non-profit group that sought to create more flexibility in the blockchain platforms that operate similarly to those which support Bitcoin. With the main currency being referred to as Ether, this new platform is set to make the creation of an infinite number of cryptocurrencies possible in the future. Interestingly, Ethereum was first made available for presale in 2014, making its rise appear to be a slow one.
Similarly to Bitcoin, Ethereum is a perfect solution for those who wish to maintain their anonymity when funding an online casino account. Although the number of casinos currently accepting Ethereum is much smaller than those that now accept Bitcoin, it appears as though the future of online gaming for real money is wrapped up in the convenient and anonymous cryptocurrencies that make it possible to play without ever releasing sensitive personal or financial information to the gaming establishment. Another benefit to playing at online casinos with cryptocurrencies is the fact that privacy is paramount; whether gamblers prefer to keep certain relatives in the dark about their gaming habits or players just crave anonymity for other reasons, Ethereum may become the perfect solution to the problem of people possessing information about their casino habits and spending.
Most Bitcoin users, as well as those who are simply familiar with the concept, are well-versed in how to purchase that particular digital currency; those who wish to begin putting Ethereum to work for themselves will discover that it operates in much the same way. The first step to using Ethereum involves selecting and downloading a wallet program that will allow them to possess and secure their funds. The monetary system that supports Ether is widely known as ETH, and those using the currency will often see it listed among other digital payment methods at the establishments that accept it.
Despite the many comparisons that readers have undoubtedly noticed between Bitcoin and Ethereum, there are some very big differences between the two. First and foremost, Ethereum has created an open-ended chain that will allow for the creation of multiple currencies and products; Bitcoin, on the other hand, was designed to use with one specific currency. However, even as Bitcoin gains popularity among online casinos and other establishments, Ethereum is still has very limited availability. Those interested in finding about more about the new, unique cryptocurrency known as Ethereum may do so at ethereum.org.