Increased demand among traditional financial investors spurred a phenomenal increase in the price of bitcoin, which is why many are now turning to etherium. Next to bitcoin (BTC, etherium (ETH) is regarded as the next best altcoin or alternative digital money.
Currently, the demand for Ethereum is minimal compared to that of BTC, which despite its continuing price hike is still attracting more investors. However, demand for BTC will eventually reach a saturation point, where the resulting high price will be the reason why demand will eventually stay stagnant.
The price may stay stable for a while or until the next surge of movements determines an increase or slump in demand. In the meantime, other investors focus their attention on the next best digital asset, which is ETH at its current value of $600 per unit.
Actually, before BTC prices soared, Grayscale Investments Directors Michael Sonnenshein said that the Ethereum blockchain has been receiving more attention than BTC, and the ETH token the most widely used worldwide. This does not come as a surprise considering that even among online gamblers, technologies have been developed by igaming companies, so they can offer owners of Ethereum digital assets the chance to play at online gambling sites.
According to Mr. Sonnenshein, during the year 2020, they have observed that there’s a new breed of investors who buy both BTC and ETH as investment, while there’s also a group of investors that buy only ETH. He perceived such development as an indication that there is growing conviction that Ethereum has a achieved status as an asset class. This is especially true for gamblers located in countries where any form of gambling is prohibited and punishable by law.
As ETHs are lower-priced than BTCs, gamblers try to stay on the safe side by gambling only with ETH. After all, when gambling at a cryptocurrency casino, the digital money deposited will be converted at its fiat currency value. Regardless of whether one wins or lose in a crypto gambling site, volatility of prices will have no impact on the value of crypto money lost or won from gambling.
Now since we’ve made Ethereum Casinos as our basis in gauging the viability of ETH as the next important altcoin next to BTC, we’ll try to explore why cryptocurrency owners are confident about staking their digital money in trusted online gambling sites.
What Makes Crypto Casinos a Safer Option for Online Gambling
When gambling in a cryptocurrency casino, players are not required to maintain a regular account. Instead, player accounts at an online casino are for single use only, which means every time a crypto gambler accesses a BTC or ETH online casino, he or she must register a new account. While the system may seem tedious to many, the process is all part of procedures to keep the crypto gambler’s digital wallet secure.
Understand that when using your cryptocurrency to pay for commodities online, the private keys and codes used for such transactions remain stored in the servers that communicated the transactions. That denotes the same is true when depositing money at cryptocurrency gambling sites. While logging in with a different account will make each transaction become part of different blocks, the measure also mitigates the possibility of one’s crypto wallet from getting hacked.