You have probably heard of bitcoin, but are you aware that there is also ethereum, another incredible cryptocurrency that will sweep you off your feet? Or maybe you already own some and are just waiting for an opportunity to use them? Whatever the case may be, one thing’s for sure – the world can’t seem to get enough of this amazing crypto, which means that the number of ethereum online casinos is growing each day.
But before you make your first deposit and start playing, there are certain things you need to know about any ethereum online casino you decide to join. So, don’t take any risks and focus on our article that delivers everything there is about choosing a casino, making a deposit, withdrawing, and all the good and bad sides of this method. After all, ethereum has been around for a very short time, and it is better to be safe than sorry.
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How to Use Ethereum in Online Casinos
IF you are worried you won’t be able to use your ethereum coins in all ethereum deposit casinos, keep in mind how for such brands, this is just another currency. Unlike credit cards that can be of different brands, ethereum is the same as INR, USD, or EUR, and as long as your casino accepts it, you can be sure you won’t face any restrictions. After you decide you want to enjoy some ethereum gambling, simply find a casino that suits you (preferably from our website), and start with the process. In the part that follows, we deliver you everything you need to know about it!
How to Sign Up
Sign up process with online casinos that accept ethereum is no different than with other brands. Visit the website (perhaps by clicking the buttons on our website), and then click the appropriate button (like Register or SignUp), especially if the online form hasn’t opened right in front of you. Make sure to fill out the form by using truthful information, rather than some made-up stuff (otherwise you won’t be able to withdraw any winnings). Some casinos might ask you to verify your account by delivering documents, or by using a phone authentication system. Don’t be surprised as these are becoming more and more common practices that guarantee your safety.
Before you even think of depositing in ethereum, you will need to have some coins in your crypto wallet. You can get ahold of coins in two ways:
- By mining them – this usually takes longer and requires additional computers and software
- Or by using crypto exchanges – essentially, you exchange your INR for ETH (ethereum), just like you would exchange it for EUR or USD if you were going on a vacation to the United States or Europe.
Also, to deposit in ethereum, you will need a crypto wallet account, as a place where you store your coins. Every crypto wallet account has two parts:
- Public address – you use it to receive and send money
- Private key – you use it to authorize any transactions
If you are overwhelmed by all this, don’t be. Every start tends to be a bit complicated, and you will need a transaction or two to get used to it.
After you have your cryptos ready, simply head over to the cashier section and choose ethereum as your preferred method of deposit. Then, simply type the amount and your address. Approve the transaction with your key, and you are good to go. Alternatively, so can also scan the QR code, if available, and make the transaction much faster. The money should be on your gaming balance in no time.
Of course, once you win some money by playing ethereum slots or ethereum live casino, you will want to cash out all that money. The withdrawal process is fairly simple and very similar to depositing. First, make sure you have wagered all the bonuses, your deposit at least once, and that you are a candidate for a payout by checking out T&C. Then, head over to the cashier and type the amount you wish to withdraw, and enter the payout amount. The next step is to scan the QR code, or simply type your crypto address. After all that is said and done, all you have to do is wait for it to be approved.
Even though with etehereum you can transfer as little or as much money as you like, to start playing at online casinos with ethereum, you will have to transfer the bare minimum the company states in their policies. Most commonly the amounts range from $ to $20, but there are also cheaper and more expensive casino brands. You have probably noticed that we mention USD, and most casinos will do so too, even if they support ethereum, simply because more players use fiat currencies than cryptos. Once you decide to deposit, the cashier will automatically exchange any fiat currency used to promote the casino and turn it into ETH so you immediately know how much to deposit.
Additional Fee and Withdrawal Time
The best ethereum casino online will never charge you any fees or transaction costs which is great! That way you can enjoy both the deposit and the withdrawal in their entirety. However, most casinos will require you to wager the entire deposit at least once, otherwise, they will charge you a processing fee, but this is not reserved for ETH punters only.
Overall, ethereum withdrawals are considered to be cheap, fast, and safe.
In most cases, the money will be with you as soon as the request has been processed by the financial team. Unlike with bank wire, when you have to wait up to five days to enjoy your money, with ethereum it takes only a few minutes or so.
Pros and Cons
If you think we are trying to fool you and send you some ethereum coins, keep in mind how we don’t sell anything, but simply provide balanced information for all gamblers in India. Also, we understand how there are many punters who are hesitant to use cryptos or simply don’t consider them to be the right choice. Now, we will list some of the advantages and disadvantages of playing gambling games with ethereum. Of course, the call is yours, and you are the one who has to make the final decision!
- Safe – thanks to special encryptions and multi-step authentication used by most crypto wallets, ethereum is one of the safest and most reliable payment methods in the world.
- Cheap – if you play according to the rules, you will never have to pay a single fee on any of the transactions you do with the ethereum casino. While bank wire withdrawals can cost $30 or more, all ethereum withdrawals are 100% free.
- Fast – most casinos have a pending period of time they take to do all the payout paperwork, but once everything is set, you will never have to wait longer than 10 or 15 minutes to enjoy your hard-won cash.
- No many available ethereum casinos – crypto casinos, even though they are becoming much more common these days, are still not as common as fiat casinos, meaning, you probably won’t be able to choose from thousands and thousands of brands.
- Requires crypto wallet – it is impossible to make an ethereum payment without a crypto wallet, which means you will need to open yet another account. While some players might not mind doing so, others will be overwhelmed by the effort they have to put to play in ETH. After all, they have some INR, right in their pockets, and can use them immediately!
Ethereum in India
At the moment, cryptocurrencies (including ethereum) are not regulated in India, which means they are not illegal and can be used at any online casino that accepts them, as long as you are playing in a state where gambling is not explicitly forbidden. This might change in the future, as the Minister of State for Finance and Corporate Affairs Anurag Thakur tried to pass a bill Cryptocurrency and Regulation of Official Digital Currency, based on a 2019 research that suggested ban of all cryptos. Wherever the case may be, in our opinion, cryptos are here to stay simply because the regulatory framework has trouble keeping up with the latest events and innovations in the industry. Even though online casinos have been around for 20 years now, India still doesn’t have a law that regulates them and a regulatory body that provides licenses, so it can be presumed how we might have to wait for decades to see crypto regulation come into power.
Till then, Indians all over the country will enjoy all the benefits of ethereum and other cryptos, even more than they are today. Young professionals from all over India are already buying and selling ethereum like there is no tomorrow, and use it to play at most popular online gaming sites, so Indian officials will, sooner or later, have to face the undeniable fact of how ethereum is here to stay.
Ethereum Alternatives for Gambling
If you are still not convinced ethereum is the right currency for you, you will be happy to know how there are plenty of alternatives that are provided by casinos that accept Indian punters. In the list that follows, we did our best to explain why these suggestions are a good choice for you.
- Prepaid vouchers – need something discreet? Try vouchers like AstroPay that can be used with a simple email address or bought at a local kiosk. Fast, easy, and cheap, they leave no trace on your bank account, just like ethereum.
- Bitcoin – a perfect alternative along with litecoin casinos, and the biggest competitor to ethereum, bitcoin is probably the best-known crypto. At the moment, its price is sky high, but you can still buy some at exchanges because chances for mining any are simply too low. Check out our prepared Bitcoin casino list to find the best brands
- eWallets – this payment method is cheap and fast, and sometimes you can even get a special debit card you can use at land-based ATMs.
Top Ethereum Online Casinos
Finding a good ethereum casino takes time, but we managed to find more than a few solid brands just for you! All brands have been reviewed by our team of specialists, are considered to be fair, and offer some special perks and benefits that will simply thrill you!
- WebbySlot – launched in 2018, this casino brand is home to more than 2,500 games, and a live casino powered by Evolution. All players can enjoy their VIP program, as well as a welcome bonus of 100%, up to €100 (or equivalent in ethereum on the day of transaction), as well as reload bonuses available from your 2nd to your 6th deposit.
- Slotum – this gaming giant supports close to 5,000 games which is simply incredible. Sign up today, and you will get an impressive welcome bonus on the first three deposits, which totals up to €300 and 150 free spins! Nothing beats playing more than 100 hands on the house, does it?
- Winz Casino – even though it was launched only recently, in 2020, this casino brand managed to create a portfolio packed with more than 5,000 titles. Play slots, live casino, table games, and many more gaming genres, while enjoying bonuses for every type of game you play! Slot welcome bonus is spread across the first three deposits and can bring you up to 6ETH plus 300 free spins! Now that is what we call a good deal! Also, you can use special bonus codes and enjoy bonuses on certain table games and live tables.
- ᐅ Are ethereum casinos legal in India?
- ETH casinos are legal in India as long as they hold a valid offshore license. The majority of such casinos are regulated by the MGa, UKGB, or Curacao. Make sure to check out their legal status in our reviews, or with regulators that provide the license.
- ᐅ What is the minimum ETH deposit?
- The minimum is determined by the casino and can range anywhere from $1 to $100, but most casinos charge anywhere between $5 and $20. Once you get to the cashier, the casino platform will show you how many ethereum that is, depending on the exchange rates on the day of the transaction.
- ᐅ Do I have to pay any Ethereum fees?
- Ethereum usually comes with no fees attached. Still, keep in mind how most casino brands will ask you to wager the initial deposit before the withdrawal, otherwise, they will charge you a processing fee. This type of fee is applied to all payment methods and not just ethereum, so make sure to use your money for playing real games.
- ᐅ Can I buy ethereum with INR?
- Of course, you can buy ethereum with Indian rupees! Just make sure to do so on a solid and reliable crypto exchange. Sometimes the exchange might charge you a small fee for its services, so do the math in advance so there are no unpleasant surprises. Once the money is in your crypto wallet, use it as you like!