Ethereum Casinos: Our Beginners Guide to Depositing & Withdrawing Using Ethereum

Cryptocurrencies are now widely used by players at online casinos, with Ethereum casino sites being one of the most popular thanks to its low coin count, speed and confidentiality. 

Established in 2014, the cryptocurrency is predicted to go from strength to strength, with the Swiss-based company having unsurprisingly attracted the attention of those operating in the iGaming industry. 

So, if you are looking for an alternative to Bitcoin or other payment methods, this guide will outline exactly how Ethereum works, including our recommended Ethereum casinos that accept it. Let’s start by taking a closer look at its history. 

Our Recommended Ethereum Casino

Our Rating

  • Games from Microgaming, NetEnt and Play'n GO
  • Range of cryptocurrencies available
  • Large number of live dealer games
  • Welcome bonus up to 5BTC
FortuneJack Casino

What is Ethereum?

Invented in 2013 and made available a year later, Ethereum was created by Vitalik Buterin, who had previously been a major player in the world of Bitcoin. It was designed in order to provide a quicker and more functional cryptocurrency, with Ethereum being based on blockchain technology. The main currency is known as Ether, while other products can be developed by users, meaning that there are almost an infinite number of possibilities when it comes to processing payments. Meanwhile, there are a variety of dedicated Ethereum casinos available to players today, which include Ethereum dice, slot and table games. 

How to Use Ethereum?

With Ethereum casino sites having already developed a reputation as being one of the most technologically advanced cryptocurrencies, it should come as little surprise that an increasing number of online casinos now accept payment in this way. So, just how does it work? The following is a step-by-step guide explaining how to make payments, including our five best Ethereum casino sites.

Step 1: Download a Wallet

Before payments can be made at an Ethereum casino, players must first download one of the available wallet programs associated with it, which effectively act as a gateway into the decentralised block chain. Once this is complete, users will be in a position to create their own products, however it is likely to be the Ether system in which they utilise at online casinos.

Step 2: Purchase Currency

Purchasing this cryptocurrency requires either an exchange or a broker, which are digital platforms catering for those looking to buy, sell or trade Ether. It is likely that new users will have to register and provide a form of identification before they are able to deposit funds, with popular platforms including CoinMama, CEX.io, CoinBase and Bitpanda. Be sure to check out the different options available, with exchanges sometimes varying in their ease of use. 

Step 3: Select Your Ethereum Casino

Now that you have a digital wallet and have purchased Ether, it is time to make your first deposit. However, the number of online casinos accepting Ethereum is still relatively small, so we have put together a list of our current favourites to help you out. Players should not only take into account payment methods when signing up online however, with factors including games, no deposit bonuses, security, usability and customer support also being key. The following sites perform well in all areas, so let’s take a closer look at our recommended Ethereum casinos:

Top 5 Ethereum Casinos

1. Fortunejack Casino: Best for Live Dealer Games (5BTC Welcome bonus + 250 free spins)

Launched in 2014, Fortunejack is an online casino offering strictly cryptocurrency payments, with their site being based in and licensed out of Curacao. Software providers here include Microgaming, Play’n GO and Evolution Gaming, with popular slots including Book of Dead and Frozen Diamonds, while a number of Roulette, Blackjack and Poker variants are also on offer. Fortunejack really delivers surrounding live dealer games, with over 50 titles being available in total.

Their casino site is also one of the easiest to use on the web today, while their 5BTC welcome package also includes 250 free spins. Meanwhile, their “Provably Fair” ensures that games are 100% fair for all, adding to the use of random number generators. Sports betting was also added at Fortunejack in 2019, however it is their casino which generally attracts players, who are able to select from some 1,500+ games in all.

Our Rating

  • One of the leading cryptocurrency casinos
  • Compatible on a host of mobile devices
  • Appealing welcome package
  • Live dealer games from Evolution Gaming, Pragmatic Play and others
  • No live chat or telephone support found

2. Bitcoin Penguin Casino: Best for Table Games (100% Welcome bonus up to 0.2BTC + 30 free spins)

Having gone live in 2014, Bitcoin Penguin is a casino delivered by software providers Betsoft and SoftSwiss. Progressive jackpot games here include Diamond Jackpot and Slot Angels, while there are a large number of Roulette, Blackjack, Baccarat and Poker variants on offer, making Bitcoin Penguin perfect for fans of table games. New players are also attracted by the casino’s up to 0.2BTC welcome package, which also comes with 30 free spins.

The Bitcoin Penguin site works well on both desktop and mobile, with 200+ HD games being available in total. While the casino is only available in English, welcome bonuses are available to players in a host of countries, with Bitcoin Penguin being licensed out of Costa Rica. The casino also holds a VSO Silver Award thanks to their work over recent times, demonstrating just how much they have progressed.

Our Rating

  • 50+ table games to choose from
  • Appealing welcome package for new players
  • 14 progressive jackpot games
  • Casino has won a host of industry awards
  • Live casino page requires work

3. MELbet Casino: Best for Bonuses (Welcome bonus up to €1,750 +290 free spins)

MELbet Casino was launched in 2012, with their Curacao-licensed site delivering a host of slot, table, live dealer and Bingo games. The likes of Microgaming, Quickspin and BetSoft are associated with the casino. This allows to offer some significant jackpots to players, along with a host of bonuses, with users even receiving a special gift on their birthday! 24/7 support is also available at MELbet, while the fact that both deposits and withdrawals can be made using Ethereum, along with a large number of additional cryptocurrencies, is a major selling point.

Players will earn points each time they deposit, which can be cashed in for prizes and rewards, while daily tournaments also take place at MELbet casino. A small number of live dealer games are available, coming from the likes of Evolution Gaming and Lucky Streak.

Our Rating

  • Large number of cryptocurrency payment methods
  • 24/7 customer support
  • Instant play available on desktop and mobile
  • Generous VIP program and ongoing promotions
  • Few live dealer games to select from

4. BitStarz Casino: Best for Bitcoin Payments (Welcome Package up to 5BTC)

BitStarz is an excellent all-round casino, with their site not only being easy to use, but also delivering a large number of slot, jackpot, table and live dealer games. As well as being one of the best cryptocurrency casino sites, the fact that NetEnt, Betsoft and SoftSwiss are among the software providers powering the casino means that players can look forward to taking advantage of popular games including Lucky Money, Deadwood, Monopoly, Lightning Roulette and Dream Catcher. Meanwhile, the BitStarz live casino page delivers games from Evolution Gaming.

New players can earn a welcome bonus worth up to 5BTC, while a small number of ongoing promotions reward players throughout the week. Meanwhile, the Mega Moolah progressive jackpot game offers a jackpot of over $/€10 million. A minimum of 0.01 ETH can be deposited and withdrawn at BitStarz too.

Our Rating

  • Entertaining and easy to use casino site
  • Generous welcome bonus up to 5BTC
  • Mega Moolah progressive jackpot game available
  • Hundreds of games available to mobile players
  • Lack of VIP program

5. CloudBet Casino: Best for Table Games (Welcome bonus up to 5BTC)

Our Rating

  • Welcome bonus up to 5BTC
  • Fast deposits and withdrawals
  • Good number of mobile casino games available
  • Variety of jackpot slots on offer
  • Support only available via email

Step 3: Fund Your Casino Account

Having signed up and registered at an Ethereum casino, it is time to deposit funds for the first time. Using Fortunejack Casino as an example, players must enter their account page, before selecting the “BALANCE” option. Having done so, locate the list of available currencies at the bottom of the page, before clicking on Ethereum. Generate your Ethereum casino address and confirm the payment, with deposits generally taking under 20 seconds to process. 

FortuneJack Casino Deposit

Step 4: How to Withdraw Winnings Using Ethereum

Unlike some other gambling cryptocurrency, withdrawals can also be made using at Ethereum casino sites, with the process once again being simple. Again, access the cashier page of your casino, before clicking on withdrawal. Next, add Ethereum as your preferred method of banking, before entering the amount you wish to transfer. Withdrawals using Ethereum are likely to take anywhere up to two days, however they will sometimes be instant. 

FortuneJack Casino Ethereum

Ethereum Fees & Other Expenses

Ethereum trades at roughly 1% of the price of Bitcoin, while the majority of payments at online casinos are processed without additional charges. The fact that no third parties are involved means that fees are often non-existent, however be sure to check this out at your chosen Ethereum casino beforehand. 

Ethereum Pros & Cons

Pros:

Payments processed faster than Bitcoin at Ethereum casino sites.

Minimal fees.

100% secure and anonymous.

Increasing number of online Ethereum casino sites.

Cons:

Can be difficult to understand for beginners.

Purchases only available through certain brokers.

Bottom Line

It is now difficult to imagine a time as to when cryptocurrencies were not in operation. They are still new to many, including those operating at online casinos. The simplicity, speed and security surrounding Ethereum, however, makes it a viable payment method, with our guide having explained exactly how it can be used to both deposit and withdraw funds on such platforms. Taking advantage of an Ethereum Casino could well give players the advantage they are looking for, with this cryptocurrency set to go from strength to strength.

Our Recommended Ethereum Casino

Our Rating

  • Games from Microgaming, NetEnt and Play'n GO
  • Range of cryptocurrencies available
  • Large number of live dealer games
  • Welcome bonus up to 5BTC
FortuneJack Casino

FAQ

What is Ethereum?

Ethereum is a platform that uses blockchain technology in order for users to process payments online without the use of third parties. Ethereum is now believed to be the second most popular cryptocurrency, behind Bitcoin, with the number of Ethereum casinos increasing quickly.

How does it work?

Ethereum operates on a peer-to-peer network, with payments being processed over a shared ledger. As such, records of all transactions are kept and organised into blocks, with payments being processed in real time.

Is this a safe method of payment at online casinos?

Yes. The fact that all payments have to be verified by users means that it is safe, with the blockchain having never been hacked to date.

Is it free to use?

The vast majority of payments made at Ethereum casino sites will be processed for free, however players may incur a small fee when looking to withdraw winnings in this way

Can I withdraw winnings in this way?

Yes. Unlike some other gambling cryptocurrency options, withdrawals are accepted by many casinos when using Ethereum.

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About James Fuller

James is a freelance writer who specialises in the world of sports and iGaming, producing engaging and accurate content for online publications, including news articles, reviews, press releases and social media marketing.