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Bitcoin vs Ethereum: Which One is Better for Online Gaming?

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Online gambling starts gaining more and more popularity among virtual players since it offers endless opportunities to enjoy a supreme casino experience without actually leaving your home. Since interactive casinos are becoming a huge industry, they need to be constantly abreast of every new technology that can improve players’ web gambling.

Thanks to the constant innovations that appear on the iGaming scene, it was no surprise that Bitcoin has become a payment method which is accepted by numerous online casinos. The concept of Bitcoin was introduced to the public in 2008 and ever since it gained a massive popularity, it started to be used as a deposit and withdrawal solution in various web-based casinos. Such casinos are often listed on big portals like Casino Games Pro.

Although Bitcoin was proclaimed the first cryptocurrency used for managing funds for online players, there have been several interactive casinos that started accepting payments via Ethereum. This fairly new cryptocurrency called Ether has sparked debates about which of the two options is better to be used for online gaming.

Differences Between Bitcoin and Ethereum

Bitcoin introduced a brand new way for online players to fund their gaming balances and withdraw their winnings. Bitcoin virtual casinos offer players the opportunity to create an account without having to provide an e-mail address or another piece of information that will serve as an identity verification. This way players do not have to go through the hassle of providing any copies of scanned utility bills or ID photos.

It is no wonder that plenty of virtual casinos started accepting the popular cryptocurrency as a way of managing players’ gaming funds. Since many online players do not feel completely safe when they are asked to provide personal information, Bitcoin casinos have gained quite the popularity as they manage to offer their members a more private gambling experience.

Although Bitcoin is the first cryptocurrency which was accepted in various online casinos, the launching of Ethereum had many virtual gamblers wondering if this payment method is not the future of online gaming. Thanks to the smart contracts that Ethereum has introduced to the public, users can transfer their funds from one wallet to another via a series of programmes which will ultimately negate the need of using third-party companies for the transfer.

In addition to the aforementioned function, smart contracts also allow decentralized applications (DApps) which provide players with plenty of advantages that can easily overshadow the current top cryptocurrency Bitcoin.

Even though the two services are compared with each other, there is a difference between the programming languages they use. While Ethereum uses Turning complete, Bitcoin utilizes stack-based language. There is also a differentiation between the purposes of the two companies. Bitcoin can be considered as an alternative to real money, while Ethereum uses its own currency as a way to help connect contracts and applications.

Advantages and Disadvantages of Bitcoin and Ethereum

As mentioned earlier, Bitcoin has become pretty popular in the recent years. This is why the cryptocurrency started appearing as a payment solution in various online casinos. Thanks to the fact that it has been commonly used by many virtual players, today, there are a handful of web-based casinos that will allow you to manage your gaming balance with the help of the cryptocurrency. If you want to explore a Bitcoin online casino, chances are you will easily find one that is both reliable and fun to play at.

Another advantage of opening an account at a Bitcoin virtual casino is the fact that you will be asked to share very little information. This means that you do not have to worry about providing details that you do not feel comfortable revealing to the interactive casino operator.

Since no country has recognized Bitcoin as a real-money currency this means that it is not subjected to any taxation. This way both withdrawals and deposits via this payment method are very inexpensive since casino patrons do not need to pay any fees to banking institutions or third-party services. However, the UK Gambling Commission does not forbid the usage of digital currencies.

The thing which Bitcoin is lacking, however, is the smart contracts function. Thanks to this feature the winning bets of online players are directly transferred to a smart contract and there is no need for a third-party service for the transaction of the funds. Using Ethereum while playing online is also very cost-effective which is a great advantage for those who decide to utilize it as a payment option.

Even though Ethereum might be starting to gain quite the popularity among virtual players, buying Bitcoins is still easier than buying Ethers. In order to acquire some Ethers, you will first need to buy Bitcoins and exchange the cryptocurrencies. Another disadvantage is the fact that Ethereum is a fairly new way to manage funds in online casinos. This is why Bitcoin web-based casinos are much easier to be found than the ones that accept payments via the Ether cryptocurrency.

Both Bitcoin and Ethereum have their positive and negative sides and virtual players should not overlook the advantages and disadvantages when they choose between the most popular cryptocurrency at the moment and the one that many have predicted as the future of online gaming.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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