The first cryptocurrency has been around for almost a decade. BTC was invented in late 2008 and debuted in late 2009. No one took this virtual money seriously at first.
Thousands of dollars were spent on miser things, mostly amongst a tiny group of fans on internet forums. As time passed and more individuals discovered the value of BTC, its price began to rise. It took until the end of 2017 for Bitcoin to reach almost $20,000 in value. After that, the world’s attention was drawn to the notion of cryptocurrencies, and Ethereum, another industry behemoth, began to swiftly achieve comparable success. While BTC and ETH are quite similar, there are significant differences that can be seen in the crypto gaming business, where these two dominate.
Likenesses between Ethereum and Bitcoin Gambling
Since they are both blockchain-based coins, they obviously benefit from the open-source, decentralized network. All casino transactions with BTC or ETH are lightning quick. Both deposits and withdrawals are instantaneous and free of traditional third-party participation, such as banks. Both excel in providing comprehensive security. The decentralized network of blockchain technology makes these currencies virtually hard to hack. Last but not least, interacting with BTC and ETH allows you to remain entirely anonymous. Currency transfers are completely anonymous and no bank, financial or political body can ever monitor your transactions, which is a huge advantage.
ETH vs BTC in Gambling
Now that we know what these two can do in the gaming sector, let’s examine their distinctions. While Ether is a superior answer for gambling in general, Bitcoin is still a large and extremely popular entity in other areas. BTC will undoubtedly increase in value over the next decade, at least until it hits 21 million units.
If we ignore all other considerations and solely consider Crypto Gambling, Ether is the superior alternative. ETH excels in two areas, the first being speed. Unlike Bitcoin, Ether processes transactions in milliseconds. This is due to the second benefit, smart contracts, which were established using Ethereum. Smart contracts enable players to interact directly with the casino, increasing security since no third party may interfere with the transaction. Beyond these two points, BTC and ETH provide almost comparable advantages.
It’s easy to decide who to play with. Bitcoin Gambling is the way to go if you want to bet with a money that is growing in value. Ethereum Gambling is the way to go if you love the thrill of the game, quickness, and convenience. Overall, both are fantastic options that far outperform what a traditional FIAT casino can provide.