Ethereum is probably the second biggest and most popular form of cryptocurrency in the world. Despite both currencies being digital, they work in different ways. Ethereum has shown a lot of potential as an investment opportunity, but in this article, we’ll take a look at it from the angle of a deposit and withdrawal method in sports betting sites.

What is Ethereum?

Ethereum is a digital currency that is now second to only Bitcoin in the cryptocurrency scene. Ethereum can also be used as a deposit and withdrawal method on betting sites. The blockchain allows you to create your own custom tokens and run smart contracts.

Is it legal to bet on sports with Ethereum?

Absolutely.

Cryptocurrency is fast becoming one of the standardized forms of currency in various industries around the world. The betting industry is no different. It is now one of the more regular deposit & withdrawal methods on betting sites.

Can you deposit and withdraw with Ethereum?

Many sportsbooks allow cryptocurrency as a form of payment, deposit, and withdrawal. To do so using Ethereum, you first need to acquire an e-wallet. Next, purchase some Ethereum. That might not come as easy as we’d like to admit. The value fluctuates as usually as daily, so it will be difficult to know the value of Ethereum in your country. However, withdrawing and depositing will take fewer steps than that, especially when withdrawing.

Ethereum fees for betting sites

There are no fees associated with Ethereum deposits and withdrawals for betting sites. If there are charges from your preferred sportsbook, then they will be so negligible it wouldn’t make a difference to you.

See also  How do you deposit or Withdraw money on sportsbook online? Betting Guide

Pros and cons of using Ethereum Betting Sites

No matter what payment method you choose, there will always be advantages and disadvantages to them. Here are some pros and cons to consider:

Pros:

  • Deposit and withdrawal are instant
  • The transactions are protected since it is a cryptocurrency

Cons:

  • The fluctuating value of Ethereum is a constant thing to keep in mind as the value of the funds in your account could well increase but, more importantly, also decrease.
  • Your preferred choice of sportsbook may not accept cryptocurrency

Best Betting Sites with Ethereum in Canada

Sports Interaction

Sports Interaction was one of the first adopters when it came to cryptocurrency in betting. You’ll feel right at home if you choose to bet using Ethereum. Check out

888Sport

888Sport also has a strong base in cryptocurrency. They accept cryptocurrency, various types as well, not just Ethereum. They are worth looking into. Check out

Betway

Betway is probably bigger than 888Sport, and Sports Interaction combined. This can only mean that they, too, are up-to-date with cryptocurrency and accommodate a wide selection as well. Check out

Other top payment methods

If you are looking for more reliable alternatives to make deposits and withdrawals at sportsbooks, the following are some of the most popular ones:

Contents

See also  American Express Betting Sites in Canada