Cryptocurrencies have been around for over a decade, and the driving force behind this innovative movement is Bitcoin. The pioneering cryptocurrency was created in late 2008 and launched a year later.
At first, no one took this idea seriously. People traded currency by purchasing ordinary items, and transactions took place primarily among a small community of enthusiasts. online forum.
As time passed and people realized all the benefits that BTC had to offer, the price started to rise slowly but surely. It was a long journey until the end of 2017, when Bitcoin reached almost $20,000.
Afterwards, the world took notice of the concept of cryptocurrency, and Ethereum, another powerhouse in the industry, began to move quickly toward similar success.
Although very similar, there are still some differences between BTC and ETH, which can be seen in the gambling industry where these two occupy absolute centrality.
Ethereum: The Future of Decentralized Gaming
The Ethereum network facilitates gaming or betting with lower transaction fees and faster speeds than Bitcoin. We are at the forefront of the decentralized gaming space, using smart contracts to execute secure financial transactions.
Smart contracts on gambling sites based on this protocol allow applications to automatically run on the ETH blockchain when predetermined conditions are met.
The second most popular cryptocurrency after Bitcoin, ETH gambling has gained popularity because it guarantees complete fairness and transparency. Players can also use ETH to bet on a variety of games, including online slots, live dealer games, sports betting, and table games.
Bitcoin: stability and anonymity in gambling
Unlike Ethereum gambling, Bitcoin gambling is more suitable for those looking for a stable cryptocurrency. Because BTC was the first virtual currency in the cryptocurrency space to have an actual market capitalization.
Additionally, Bitcoin is ideal for this practice as it is widely used or accepted as a payment method by both cryptocurrency casino sites and traditional casinos due to its anonymous, secure and fast transactions.
However, gambling sites based on the Bitcoin network have more expensive and slower transaction costs than other cryptocurrencies, so your overall gambling experience may be a little longer.
However, at the best Bitcoin-based gambling sites, players can still find popular games like roulette, blackjack, and slots to enjoy a good betting experience.
Similarities between the two cryptocurrencies
Since both are cryptocurrencies based on blockchain technology, it is clear that both projects enjoy the privileges of a decentralized and open-source network. For all financial transactions within the casino, BTC and ETH are very fast.
Deposits and withdrawals are all possible This happens in minutes/seconds and both networks are independent of traditional intervention by third parties, for example banks or credit cards.
Another aspect where both projects excel is overall security. The coin is nearly impossible to hack due to its technical design, which connects directly to the decentralized network of blockchain technology.
Finally, there is the incredible possibility of remaining completely anonymous when dealing with BTC and ETH.
Transfers are completely hidden from unwanted attention and no banking, financial or government agency can track your transactions, which is a huge advantage.
Some differences between ETH and BTC in gambling
Now that we’ve seen what these two can do, let’s look at some of the differences.
Although Ether is an objectively better solution for gambling in general, Bitcoin remains an important and popular entity in the world outside of gambling.
The value of BTC will definitely increase over the next decade, at least until it reaches its maximum quantity of 21 million units.
However, if you remove external factors and focus only on the gambling market, Ether is the better choice overall. There are two things that ETH excels at: the first is speed.
BTC takes minutes to process transactions, while Ether takes seconds. This is due to the second advantage, smart contract technology created in conjunction with Ethereum.
Smart contracts allow players to transact directly with the casino and provide stronger security features since there can be no third parties that can interfere with the transaction.
Aside from these two differences, BTC and ETH have almost identical benefits.
Which cryptocurrency is best for you?
Simply put, the best cryptocurrency for online gambling depends on each player’s gaming style and preferences. Bitcoin and Ethereum are such big names in the market that it is almost impossible to find a cryptocurrency casino that does not offer trading for both currencies.
In terms of underlying technology, both use a secure infrastructure that is virtually unhackable.
If you want lower transaction fees and faster speeds, choose an Ethereum-based gambling site. If you want gambling with greater stability and greater availability and acceptance, choose Bitcoin.
Making decisions and betting with your favorite may not be as easy as you think. However, for those who want to keep their money safe and bet with a currency that will increase in value over time, BTC seems to be the best option.
If you are looking for pure fun, fast speed and accessibility, ETH is the right choice.
Ultimately, before betting on gambling using Bitcoin or Ethereum, it is essential to learn how each process works and use a trustworthy site that has built a good reputation to ensure a satisfactory experience.