With the recent rise in the price of Ethereum, it’s easy to see why so many users are looking for ways to gamble and win this cryptocurrency. Gambling with Ether (Ethereum’s currency) shares similarities with Bitcoin. However, some key differences separate these two cryptocurrencies.
BTC vs ETH: Anonymity
When it comes to online gaming, many users turn to anonymous casinos for their next bets. The currency of choice for such players is typically Bitcoin, as every deposit and withdrawal is untraceable to personal information. The same can be said for Ethereum, and when it comes to anonymity, there is not much difference between the two (they share very similar anonymity features). A good practice for those looking to play anonymously is through the use of a Bitcoin VPN, always using a Bitcoin or Ethereum wallet address once (multiple address uses can potentially reveal information about the owner).
BTC vs. ETH: Smart Contracts
Smart contracts were made famous by Ethereum’s blockchain. Unlike Bitcoin, Ethereum has smart contract functionality “built-in” to its protocol. These contracts (basically a series of programmed functions) can automatically move value (Ether) from one wallet to another without the need for an intermediary. In addition, the contract code is publicly verifiable, allowing users to ensure its validity before interacting with it. This process has clear applications for gambling, whereby entire casinos can be organized based on a series of smart contracts, allowing players to bet without intermediaries and based on a transparent and verifiable system.
Ethereum already has smart contract capabilities, and some ‘smart casinos’ are already operational. However, an ‘off-chain’ smart contract protocol called Rootstock enables developers to create similar applications on the Bitcoin network.
BTC vs. ETH: Which casinos are available?
Gaming was one of the first areas where Bitcoin cryptocurrency was applied, and, as such, the corresponding context has had many years to develop. The result in terms of choice is that there are many more casinos available for Bitcoin than there are for Ethereum. For example, we counted 121 Bitcoin gambling sites and only 8 gambling sites for Ethereum, most of which revolve around craps betting. Note: These numbers may be different for you as our gambling sites are filtered based on geographic location.
Ethereum gambling is still very limited to dice betting, but the trend is slowly changing.
BTC vs ETH: access to currency
One of the main advantages of Bitcoin over Ethereum is its ease of access. Of course, buying Bitcoin is not as simple as buying foreign currency, but the process is nonetheless much easier than buying Ethereum.
BTC vs ETH: Game Options
As mentioned, there are many more casinos that accept Bitcoin rather than Ether. Those looking for sports betting with Ethereum are currently out of luck, but this market will undoubtedly open up in the coming months.
On the other hand, Bitcoin has a wide range of casinos, poker tables, sports betting sites and casual games.