Ethereum Gambling in NZ: Best Ethereum Casinos

All About Ethereum Gambling
Gambling with Ethereum

Cryptocurrencies are taking the world by storm, reshaping industries and redefining norms. The online casino industry stands out among the many sectors influenced by this surge. For ardent gamblers and novices alike, the allure of cryptocurrencies, particularly Ethereum, offers undeniable advantages.

What is Ethereum?

Ethereum, conceived by Vitalik Buterin in 2013 and launched in 2015, is a groundbreaking blockchain platform that introduced decentralized applications (DApps) and smart contracts. It aims to overcome the constraints of centralized systems by enabling a space where the middleman is unnecessary.

While Bitcoin primarily serves as a medium for peer-to-peer electronic cash transactions, Ethereum’s scope is more extensive. It allows developers to forge programmable contracts and roll out their unique decentralized applications.

Ethereum is more than a cryptocurrency; it’s a platform where developers can run code and store data securely and without alteration. It forms the foundation for numerous decentralized projects built on its blockchain.

Best Ethereum Casinos in NZ

NameBonus for BTC or ETHSoftwareYear Founded
Ignition CasinoUp to $3,000 for crypto depositsProprietary, Real Time Gaming, Rival2016
Emu CasinoNZ$500 + 50 free spinsMicrogaming, Betsoft, and others2012
Cafe Casino350% up to $2,500 for crypto depositsReal Time Gaming, Rival, and others2016
Ripper CasinoNot specifically availableN/A2021
Slots LVUp to $7,500 for crypto depositsReal Time Gaming, Betsoft, and others2013
Fair Go Casino100% match bonus up to $200 x 5Real Time Gaming2017
SlotlandVarious promotions for crypto depositsProprietary1998
Bitstarz100% up to 1 BTC + 180 free spins on first depositBetsoft, Microgaming, NetEnt, and others2014

Advantages of using Ethereum in Gambling

  1. Smart Contracts – Ethereum’s most significant feature is its ability to support smart contracts. Smart contracts are self-executing contracts with predefined rules encoded within them. They automatically execute when certain conditions are met, eliminating the need for intermediaries and improving transparency and efficiency.
  2. Decentralization – Ethereum operates as a decentralized network, meaning a single entity or organization does not control it. This decentralized nature ensures that no single party controls the network, making it resistant to censorship, fraud, and downtime.
  3. Turing Completeness – Ethereum’s programming language, Solidity, enables developers to write complex and customizable smart contracts. The Ethereum Virtual Machine (EVM) can execute these contracts, making Ethereum a Turing-complete platform. This means developers have immense flexibility to create various applications and protocols on the platform.
  4. Interoperability—Ethereum allows interoperability between different decentralized applications and tokens. This means that applications built on Ethereum can communicate and interact with each other, creating a network effect and expanding the platform’s overall capabilities and utility.
  5. Community and Ecosystem—Ethereum has a vibrant and active community of developers, entrepreneurs, and enthusiasts. This large community contributes to the platform’s growth and development, fostering innovation and collaboration. Additionally, Ethereum has a thriving ecosystem of tools, libraries, and frameworks that simplify development and provide developers with a wide range of resources.

Getting Started with Ethereum

Setting up a Wallet

  • Choose a wallet (software or hardware) that suits your needs.
  • Download or access the wallet following the provider’s instructions.
  • Secure the wallet with a strong password and enable 2FA.
  • Get your wallet address for receiving Ethereum.

Purchasing Ethereum

  • Register and create an account on the chosen exchange.
  • Deposit NZD funds into your exchange account.
  • Place an order for Ethereum using the trading interface.
  • Confirm the trade, and Ethereum will be credited to your account.

Benefits of Ethereum Gambling

Benefits of Ethereum Gambling
Benefits of Ethereum Gambling

In addition to quick processing times, why is Ethereum a popular deposit and withdrawal method for real money online casinos? Here are a few significant factors.

1. Low Cost

It offers a secure payment solution that doesn’t require any third party or bank account to process payments. This allows Ethereum sites to keep fees low and avoid paying expensive banking costs.

2. Transparency

Due to the nature of the blockchain ledger, players get complete transparency. If you’re tech-savvy, you can see the transactions between the online casino and its users, which gives you a sense of security that your payments are well-documented in case of an incident.

3. Security

Ethereum gambling sites also provide complete security. The Ethereum network is built with complex equations and uses encryption to protect users’ accounts.

How to Buy ETH From a Cryptocurrency Exchange in NZ?

How to Buy ETH From a Cryptocurrency Exchange
How to Buy ETH An Exchange

Purchasing ETH in New Zealand can initially seem more intricate than your regular investment procedures. Here’s a step-by-step guide tailored for Kiwis:

Choosing the Right Exchange: First and foremost, identify a reliable cryptocurrency exchange that caters to NZ users. Internationally recognised platforms like Swiftx, Coinbase, Binance, and Kraken are excellent choices, but NZ also offers locally-focused exchanges like Easy Crypto and MyBitcoinSaver.

Sign-up Process: Registering on a cryptocurrency exchange often requires a more comprehensive verification than signing up for services like PayPal. This is mainly due to stringent security protocols and international regulations related to cryptocurrency.

Funding and Purchasing: Once your account is verified, you can fund it using NZ dollars in many cases. It’s essential to be aware of the fees associated with your purchase. Each exchange has its fee structure, so ensure you know these costs before committing to a transaction.

Understanding Fiat-to-Crypto Transactions: Not every exchange allows you to buy Ethereum directly using NZD (a fiat-to-crypto transaction). On some platforms, you might first need to buy another cryptocurrency like Bitcoin, which can then be traded for Ethereum. For newcomers, this can be a tad confusing. Therefore, if you’re a beginner, it’s advisable to stick to exchanges that allow direct NZD to Ethereum purchases, such as Easy Crypto.

Making the Exchange: Once you’re set up, you can choose the amount of Ethereum you wish to purchase, confirm the fees, and complete your transaction. Ensure you store your Ethereum safely in the exchange’s wallet (if it offers one) or transfer it to a personal crypto wallet for added security.

Suggested Read – How To Play Bitcoin Poker Online?

How to Use Ethereum at Online Casinos?

How to Use Ethereum at Online Casinos
How to Use Ethereum at Online Casinos

Playing online casino games is straightforward after having some Ethereum in a wallet.

Here’s a guide on how to use Ethereum for online casino betting:

Get Some Ethereum: Ensure you have some Ethereum in your digital wallet before playing.

Finding a Casino: While Ethereum is the second most popular cryptocurrency behind Bitcoin, not all online casinos accept it. Research and select a casino that supports Ethereum and has a good reputation in the crypto community.

Using Ethereum in Non-Ether Casinos: Some online casinos might not accept Ethereum directly but will allow Bitcoin deposits. In such cases, you must convert your Ether to Bitcoin before depositing.

Be Aware of Fees: While many online casinos don’t charge fees for Ethereum deposits, withdrawals might come with a small transaction fee. Additionally, if you convert your Ethereum winnings into fiat currencies, like the US dollar or euro, there might be associated conversion fees.

Now that you’re familiar with using Ethereum in online casinos, the next step is to understand how to connect your Ethereum wallet to your chosen casino platform.

Read also – How to Protect Yourself From Crypto Scammers?

Connecting Your Ethereum Wallet to an Online Casino

Connecting Your Ethereum Wallet to an Online Casino
Connecting Your Ethereum Wallet to an Online Casino

Step-by-Step Guide:

  1. Choose a Casino: Before anything else, ensure your online casino is reputable and supports Ethereum transactions.
  2. Access the Casino Lobby: Navigate to the casino’s main page or dashboard.
  3. Navigate to the Deposit Section: Look for the cashier or deposit symbol. Clicking this will typically prompt you with the casino’s cryptocurrency deposit options.
  4. Enter Your Ethereum Wallet Details: Most platforms will ask for your Ethereum deposit address. Ensure you copy and paste this accurately to avoid any issues.
  5. Specify the Amount: Determine the amount of Ether you want to transfer to the casino.
  6. Confirm and Wait: After initiating the transfer, there might be a brief waiting period. This duration can vary among casinos but is typically a matter of minutes.

Additional Points to Note:

  • Fees: Many sites don’t charge fees for Ethereum transactions, making it a cost-effective choice compared to traditional deposit methods.
  • Withdrawal Times: Withdrawing your winnings in Ethereum is usually swift. While some sites might take up to two hours to process your withdrawal request, it’s still faster than most traditional methods. For instance, e-wallets like PayPal might take several hours to even days to transfer to your bank account.

Always double-check the casino’s deposit address before sending your cryptocurrency.

FAQs

Is Ethereum gambling legal in New Zealand?

Ans – Yes, gambling on Ethereum is permitted in New Zealand. There is no particular legislation that forbids using cryptocurrency for gaming. It is crucial to remember that not all Ethereum-accepting online casinos are authorised and governed in New Zealand.

How do I deposit Ethereum at an online casino?

To deposit Ethereum at an online casino:

Get a Wallet: You need a cryptocurrency wallet.
Buy Ethereum: Use exchanges like Coinbase or Binance.
Transfer to Casino: Go to the casino’s cashier, select Ethereum, and get their wallet address.
Send Ethereum: Use your wallet to send Ethereum to the casino.
Instant Deposit: Your deposit should be processed instantly.

How do I withdraw Ethereum from an online casino?

To withdraw Ethereum from an online casino:

Visit the cashier and choose Ethereum.
Enter your Ethereum wallet address.
Specify the withdrawal amount.
Click “Withdraw.”
Expect processing within hours, but watch for minimum withdrawal limits.

How do I buy Ethereum to gamble in NZ?

You can buy Ethereum in New Zealand through cryptocurrency exchanges like BitPrime or EasyCrypto. Create an account, complete the verification process, and purchase Ethereum using NZD.

Can You Buy Ethereum Using a Credit Card?

Cards are widely accepted on various cryptocurrency exchanges and platforms, providing a convenient way to purchase Ethereum quickly.

Mamta Sharma

Mamta is a spirited writer hailing from Wellington, bringing a youthful zest to the world of digital content. Merging her love for narrative with an eye for detail, Ella crafts stories that resonate and engage the modern reader.