Esports Bookmakers Accepting Ethereum

Ethereum was founded in 2013 and is headquartered in Zug, Switzerland. It all started with Vitalik Buterin, who birthed the idea, and was later joined by four other co-founders called Gavin Wood, Antony Di Lorio, Charles Hoskinson, and Joseph Lubin. The development work was crowdfunded and began in 2014.

The first time the network went live was on July 30, 2015, with 72 million coins. These coins or tokens are known as ETH or Ether. Ethereum has been implementing Ethereum 2.0, a series of upgrades that include a transition to proof of stake. The upgrades are aimed at increasing transaction throughput via sharding (splitting and storing a logical dataset in multiple databases).

Technically, Ethereum allows users to represent, trade, and use anything they own as NFTs. For example, tokenizing enables owners to earn royalties. A user can even secure a loan using tokens for something they own. The possibilities enabled by Ethereum keep growing all the time.

With Ethereum having gone mainstream, online casino players have been quick to take advantage of the benefits offered by this crypto payment. These include instant processing, anonymity, and the lack of intermediaries. ETH is particularly popular in the United States, Germany, Singapore, and the United Kingdom.

The process of withdrawing funds from Ethereum is fairly similar to making a deposit, only that it happens in reverse. For starters, players need to ensure they have enough funds in their eSports betting account to make the withdrawal. They also have to ensure the betting provider offers crypto withdrawals.

If the first step works out, the user can then log into their Ethereum wallets and get their address, usually a string of letters and digits. They can find the personal address in the users’ wallet apps under the ‘Receive’ section.

If it is not the first time withdrawing funds via the cryptocurrency from the same bookmaker, they can also find the address in the transaction history. Users should copy the address and paste it on the eSports betting account to avoid errors.

The users then have to log into their eSports betting sites and go to the Ethereum withdrawal option. Clicking on the option will prompt them to enter their Ethereum address. They can then paste the copied address in the corresponding field.

The users can then specify the withdrawal amount and submit the request. Different eSports bookies usually have other withdrawal limits, with some having no limits. Withdrawing on mobile is also possible if the eSports betting site is mobile-friendly.

Online casino players should first create an Ethereum wallet to use the cryptocurrency. Creating an Ethereum wallet is uncomplicated. Players have to start by choosing the type of wallet to use. There are three different options to consider.

• The most common wallets are software wallets, where the ETH will be stored within secure software.

• The second and third alternatives are mobile wallets and hardware wallets. Mobile wallets store the coins on a smartphone, while hardware wallets store the coins in physical storage devices. Hardware wallets are considered the safest of the three, but only if the users can keep the physical storage safely.

• Next, the player must choose and open a reputable crypto exchange service account. The process might vary depending on the exchange service a punter picks. In most cases, the process usually takes only a few minutes. Punters can then proceed to fund their accounts. For that, they need to link their account to a payment source.

Most exchange services allow funding via direct bank transfers and the use of credit cards. Usually, there are no limitations for creating and using Ethereum wallets. However, users under 18 years might find it challenging to link payment sources as most source options have age limits.