Earlier this month, I covered how more online casinos are adding new cryptocurrencies to their banking options. This is especially the case with Ethereum, which allows players to enjoy Ethereum slots.
If you’re unfamiliar with this popular cryptocurrency, keep reading as I discuss what is and how you can use Ethereum to play slots.
What is Ethereum?
Simply put, Ethereum is a cryptocurrency that operates on the blockchain through smart contracts.
The blochchain is a public ledger that records cryptocurrency transactions. Anybody can look at this public ledger to see the records.
A smart contract is a computer protocol that manages agreements between two parties, whereby digital assets are exchanged.
Buying Ethereum
First off, you need to find an online casino that accepts Ethereum as a payment option. Once you do this, proceed to buying Ethereum with fiat (e.g. USD, EUR, GBP).
Two of the most-popular sites to buy this cryptocurrency with fiat include Coinbase and GDAX. To start buying Ethereum at either site, you need to create an account and add your credit card, debit card, or bank account.
Once you’ve filled out your account and added a payment option, visit the “Buy/Sell” section. Here you choose how much you want to spend on Ethereum.
When you’ve confirmed the transaction, you’ll have this cryptocurrency available.
Using Ethereum to Play Online Slots
One of the final steps is to visit the online casino of your choice and go to their banking section. Here, you select the Ethereum deposit option and get the casino’s wallet address.
You then go back to Coinbase and visit your “Account” section. Here you can choose to send some or all of your Ethereum to the online casino.
This is when you’ll be prompted to enter the internet casino’s Ethereum wallet address. Once you’ve entered how much Ethereum you wish to send along with the wallet address, confirm the transaction.
It may take 10-30 minutes to arrive at your casino. But once the Ethereum is in your casino account, you’ll be ready to play online slots!
Please keep in mind, though, that you can only play provably fair slots at the time of this writing. But hopefully this changes in the near future, and we get access to even more Ethereum slots.