The top ten cryptocurrencies showed robust surges and setbacks in the market. One of the digital money that displayed promise for investors is Ethereum. The crypto cash has its own unique attributes in its financial ecosystem that will be replacing the fiat currency in the future. The online betting industry will take part and accept ethereum betting on their wagering platforms.
Bitcoin and Ethereum betting on online wagering platforms
Bitcoin is the first crypto money accepted in the online wagering arena. Ethereum follows the trend of Bitcoin in the volatile market activity; it will not take long when Ethereum will be the medium of bet placements in sportsbooks and betting sites.
Cryptocurrencies are the preference of online gamblers when they have crypto cash accounts. It is much easier to place their bets through online wagering. Bitcoin and Ethereum betting is easily transferable to the sportsbook cryptocurrency wallets. The cybercash is independent of controlling and prying authorities since it is a decentralized entity in nature. The digital cash expedites betting transactions with its features convenient to online players. Gambling sites need speedy transactions and fund transfers especially when punters are on a bankroll and need immediate bet placements and winner payouts.
Bitcoin and ethereum betting are confidential with no identities tracing its origin or destination. The decentralized financial environment using the blockchain technology makes it possible for the unknown identities of the senders and receivers. The level of confidentiality is one of the attributes online punters sought after in digital cash wagering especially with high profile gamblers and celebrities.
Experts predict that it will not be long before ethereum betting will be the center of bet placements in sportsbooks and wagering sites. Ethereum betting has the same attributes to what Bitcoin has in betting platforms. The digital cash is fraud-proof and once the sender transmits it to the recipient, the transaction becomes irreversible and will definitely push through.
Ethereum Betting fits the online wagering industry
Using the blockchain technology solutions, ethereum fits well to the online betting arena. Bigbook.ag found ethereum betting acceptable to its platform and its employment of smart contracts of the ETH blockchain.
Some betting sites do not have the luxury of creating an ethereum payment option facility but accommodates Bitcoin deposits and transfers. Ethereum betting is still possible on the wagering platforms in the absence of an ETH payment option facility. The Ethereum holders can opt to convert their ethereum tokens into Bitcoin by converting them in a cryptocurrency exchange point. These exchange sites are the shapeshift.io and the changelly.com platforms. When your ethereum conversion pushes through into Bitcoins, you are good to wager on the betting site.
Bigbook.ag adds the Ethereum betting facility in its wagering sites
Bigbook.ag created the Ethereum betting facility in its platform to cater ETH betting from the ether account holders. The betting site has to adapt to the rapid changes in the online betting technology to cater to the niche of ethereum. The site accepts the crypto money transfers to its electronic wallets to bet on the casino tables. The games offered in these tables are video poker, roulette, Plinko, slots, Blackjack, craps, and lottery among other casino games. Bigbook.ag sportsbooks also accept ETH wagers to its platform with additional perks to online bettors.
Like the Bitcoin betting option facility, the rate of transaction per withdrawal or deposit is close to none. The multiple withdrawals result in the almost zero transaction rate which is important to online gamblers. It is best to withdraw every time you need to reorganize your betting strategy. The frequent cash out will also save you from impulsive betting which is common to gamblers. Online punters who bet on impulse is not good for your gambling activity in the long run. The ethereum wagering dashboard on the front end solutions of the bigbook.ag betting platform makes it easy to deposit and withdraw from your ethereum account.
Why Ethereum betting will replace Bitcoins in the online wagering industry
Experts are speculating that Ethereum will be more powerful than the bitcoin in the near future. Ethereum betting is fast and anonymous. Cryptocurrency wagering is not at all anonymous but it is much more confidential than exposing your credit cards and other vital information that could land in the wrong hands. Your data in the wrong fingertips is prone for usage on other illicit activities.
The fees for Bitcoin transactions are getting to be more expensive than before. Ethereum transfers are low in fees compared to Bitcoin. ETH transfers are much cheaper than money transfers or bank wires that usually cost $50 per transaction.
Some experts say that Bitcoin and Ethereum are not competitors in the market. These cryptocurrencies have their own line of solutions to their respective concerns in the financial setting. Bitcoin is a cryptocurrency while Ethereum is a platform for apps that are decentralized. Also, Bitcoin production has limits set on it while Ethereum has no ceiling for production. These digital cash entities need to coexist because they have special features of their own.
Crypto analysts say that Bitcoin grew by 300% last year while Ethereum grew to 4000% at the same time Bitcoin was accelerating its growth. There are more exchange activities as manifested in Ethereum exchange points. More and more people are using ethereum last year and continue up to the date of this writing.
At the end of December 2017, Ethereum users have twice the number compared to Bitcoin, according to a fundamental analysis. The report further predicts the rise of the digital cash due to the rise of users in major industries. The feature suits the decentralization and confidential identity attributes it provides to its account holders.
A manifestation of Ethereum’s rise in the number of users is in the Initial Coin Offerings (ICO) popping out on the internet. These ICOs use ETH token for their platforms. The offerings found their investors through crowdfunding from all over the world. There are over 2200 legally registered ICOs in the market today and most of them use Ethereum.
For sportsbooks and other gambling sites, it is impossible to ignore such financial activity that wagering platforms. Sportsbooks began to develop their Ethereum payment option facilities to accommodate the digital cash to their betting sites. Hence, Ethereum betting grew in stature and is now welcome on reputable wagering websites.
As of now, ethereum betting is gaining traction and acceptability with Sportsbooks, Online casinos, and horse track racing. Although those sites receiving ETH are fewer compared to BTC, it constantly grows each day. There are still a few disadvantages that ether betting has to adjust as it has fewer options than the Bitcoin. The BTC is still the leader among cryptocurrencies with respect to market cap and betting site acceptance. But experts predict the ETH will overtake Bitcoin someday.
Another disadvantage of ethereum from Bitcoin is its market volatility. Tendencies in market fluctuation are imminent when you are into cryptocurrencies. The market takes you to a wild ride and profits and losses are constant expectations with risks in the game. Bitcoin has its share in the market downturn, but investors have high hopes of its return to a better market value.
The last downtrend experts see in Ethereum is its popularity to cryptocurrency investors, traders and account holders. It is like treading in unfamiliar territory unknowing what to expect around the corner. But crypto money users are beginning to see the light at the end of the tunnel hoping for the best return their investment will reap for them.
The online betting industry readily accepts and addresses the advantages and the disadvantages of ethereum betting because they believe in the digital cash’s capability and its promise for the future. Bigbook.ag affirms the potential of ETH and builds its platform for ethereum betting.
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