Generally speaking, Ethereum is an open source distributed system. In particular, this system offers the management, creation as well as execution of decentralized contracts and programs in a separate blockchain. The resulting cryptocurrency is called Ether (ETH). Ethereum was launched in 2015 and is now the digital currency with the second-largest market capitalization after Bitcoin. This currently amounts to around 547 billion US dollars (as of December 2021). Ethereum was developed by Vitalik Buterin, Gavin Wood and Jeffrey Wilcke.
Those who process their payment using the cryptocurrency Ether benefit, among other things, from a transaction without the direct involvement of a bank. In addition, the transaction fees are relatively low compared to alternative payment methods. In addition, payment processing with Ether is considered secure and pseudonymous. As disadvantages, the comparatively high exchange fees should be considered, which are not charged by the respective gambling Provider, but by the wallet. In the meantime, Ethereum is already accepted as a digital means of payment in several countries, such as Germany, Malta, Japan as well as Switzerland.
In general, interested users should take into account that Cryptocurrencies are naturally very volatile. This means that the value can sometimes change for the better or for the worse within a short period of time. For example, one Ether (ETH) still cost just under 500 euros at Christmas 2020. In May 2021, around half a year later, an Ether was already worth over 3,100 euros. However, the price collapsed again shortly afterwards in July 2021 to just under 1,700 euros. Most recently, an Ether cost just over 4,000 euros again.
So far, the number of available Ethereum online casinos in German-speaking countries is still comparatively manageable. However, a clear trend can already be seen in the direction of crypto payments in online gambling as well. It is therefore to be expected that the acceptance of Bitcoin, Ethereum and Co. will increase in the coming months and years.