As with several other digital currencies, Ethereum has started being accepted as a depositing method at online platforms. Not only that, but some sites also allow you to place bets using it, too. Some of these sites provide players with CS:GO esports betting, meaning that you can place wagers on this through the Ethereum cryptocurrency.
It basically operates in the same way as a standard currency when you place bets, except that it comes with its own benefits and drawbacks. So, if you want to involve yourself in Ethereum CS:GO betting, or if you’ve already started and want to learn a bit more about this digital currency, that’s what we’re here for. Let’s find out more about Ethereum betting.
Top Sites for CS:GO Betting with Ethereum
Now, you may wonder where exactly you can register for an account and begin betting on CS:GO with Ethereum. Well, you need not wonder about this anymore, because we’ve brought together a collection of the very best online platforms where this is possible. And how do we know that these are the top sites for it?
It’s a good question, but one that we have an answer for. We know they’re good because we’ve participated in Ethereum betting at them. We’ve tested them out from start to finish. This means that we’ve signed up, made a deposit in Ethereum, placed some wagers on CS:GO with the cryptocurrency, and then made a withdrawal through the same method, too.
In this respect, we’ve been able to experience what you would experience if you decided to sign up at an online sportsbook that offers CS:GO Ethereum betting. We’ve tested everything out to find out which ones provide great service, how fast the deposits and withdrawals are, whether the process is a smooth one, and much more. This is how we have managed to create this collection of the very best Ethereum betting platforms.
Why Bet on CS:GO with Ethereum?
Ethereum, like most other cryptocurrencies, provides a much more secure way of betting at your chosen sportsbook. This is due to the fact that it is an anonymous payment method. By this, we mean that you don’t have to enter any of your personal details into the sportsbook to be able to use it. Deposits and withdrawals are simply sent to and from online wallets, with the only requirement being for you to enter the wallet addresses.
Not only that, but Ethereum is a very speedy way of betting on CS:GO. Not specifically in placing the bets, but in depositing the currency into your chosen sportsbook and taking it out again. Deposits are usually instant, so you’re able to make the transfer and then start placing CS:GO wagers as soon as this completes. Withdrawals shouldn’t take any longer than 15 minutes, and as avid sports bettors, we like to be able to have our money back with us as soon as possible.
One other thing to make mention of is that Ethereum deposits and withdrawals don’t usually come with any extra charges, or if they do, they’re usually very minor. This works very highly in your favor as the bettor. Nobody likes having to pay fees for depositing or withdrawing their own money, making Ethereum an ideal choice for online betting.
How to Get Started with Ethereum Betting
The process of participating in online betting with Ethereum is much the same as the process for Bitcoin betting. Therefore, you will first need to purchase some Ether if you don’t already possess some. This is easy to do. You just need to make your way to an exchange and purchase the cryptocurrency.
There are many exchanges already in operation online, so finding one that offers Ethereum shouldn’t be a problem. Then, exchange your standard fiat currency for the Ether coins. Make sure that you have an external wallet for storing these in, as it’s not advisable to use one of the exchange wallets.
From there on, you can do as you wish with the Ether that you own. For depositing into an online sportsbook where you can use it for placing wagers on CS:GO, you simply need to locate your wallet address and the address of the sportsbook’s Ethereum wallet. Once you sign up at the sportsbook, you need to go to the cashier. Selecting the Ethereum deposit option will provide you with this address.
Moving on, you need to go to the “Send” section of your Ethereum wallet and copy and paste the address of the sportsbook’s Ethereum wallet into the relevant box. Input the amount that you would like to transfer into your sports betting account and press “Send.” The transaction should be instant, so you can start placing bets on CS:GO as soon as the transfer is complete.
Pros and Cons of Betting with Ethereum
- Complete gambling anonymity
- Quick and free transactions
- Safe and secure blockchain network
- Faster blockchain processing time than Bitcoin
- Cryptocurrencies are highly volatile
Ethereum FAQs
Is Ethereum Based on Bitcoin?
Very minorly. Both cryptocurrencies utilize blockchain technology, which is something that Bitcoin pioneered. Ethereum has a separate blockchain, though, which has several technological differences from the Bitcoin one.
What Is the Sending and Receiving Limit for Ethereum?
The minimum Ether that you can send and receive is 0.0001, while the maximum that you can send and receive stands at 3,000 Ether.
What Is the Recommended Way to Safely Store Ethereum?
An external wallet that you can plug in and take out, or a paper wallet, work as the two best types of storage options for Ethereum.
Can I Deposit with Ether from a Mobile Device?
If you’re using a mobile wallet, and you have a QR scanning device, then your chosen sportsbook’s Ethereum wallet should provide you such a code to scan. This means that you don’t have to copy and paste the wallet address.
What Is the Difference Between Ether and Ethereum?
Ethereum properly refers to the network of miners, virtual machines, blockchain, and other components that make up the whole system. Ether, on the other hand, is what the spendable cryptocurrency tokens are referred to as.