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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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Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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