Ethereum as payment solution is gaining traction as a growing number of trusted online merchants are starting to accept popular cryptocurrencies as a viable payment solution. Here is a closer look at how Ethereum’s growth has led it to become a widely accepted payment method. Ethereum can now be used to buy and sell/deposit & withdraw at more trusted websites than ever before.

It has come out of the shadows and can now be used at thousands of sites that also tend to accept other major cryptocurrencies, such as BitCoin. But what has made Ethereum really stand out from the crowd?

What exactly is Ethereum?

In its most basic form, Ethereum is a decentralized global software platform, and it is powered by blockchain technology. It can be used by anyone to purchase goods from anywhere that accepts this popular cryptocurrency, and it is second in popularity only to BitCoin. Ether (ETH) can be purchased at pretty much every digital crypto trading site, and it’s becoming more popular by the day, especially with people who prefer not to use their Visa credit or debit card to purchase goods online and are looking for alternative methods.

Ethereum is incredibly secure, which makes it popular. It is now accepted at online gambling sites, including sportsbooks, poker sites, and casinos. These sites are licensed to offer real money gambling services.

Ethereum transactions are fast, so you never have to wait. This reliable payment solution is also very easy to use.

Some casinos now accept Ethereum for deposits and withdrawals. However, crypto casinos are often less regulated. It might be safer to play at top real money casinos, as they are better regulated in the US. Regulation is a key concern for much of crypto. Although protections exist within the technology, there is still a risk of issues if users unknowingly invest in insecure options.

How to purchase goods with Ethereum

You can purchase Ether using a bank transfer or a credit/debit card. The money you send is stored in an Ethereum wallet like MyEtherWallet. You can also store Ether locally on your desktop, smartphone, or laptop.

More websites now accept Ethereum as a payment method. However, usage may vary slightly by site. Using Ethereum is straightforward. Just follow the on-screen instructions when making payments or withdrawals.

Pros and cons of using Ethereum?

Here are some major pros and cons of using Ethereum. First, transaction times are incredibly fast. However, most online casinos and other gambling sites take a bit longer to process withdrawals. This isn’t because of the payment method; it’s the website’s policy. In other words, most withdrawals with Ethereum, Visa, or any standard e-Wallet can take a couple of hours or more to process.

Ethereum transactions are anonymous and highly secure, which benefits you as a player. Your personal information and transactions stay protected by top-tier encryption. This is exactly what people are looking for these days. Typically, there are no fees attached, which is another plus for players. When you deposit at certain sites with Ethereum, you often qualify for a guaranteed new player welcome bonus (sign-up bonus).

Some downsides include the inability to reverse transactions. However, this is the case with most methods once transactions have been processed. Another downside is that not enough major sites accept Ethereum right now, especially when compared to sites that accept Visa or PayPal.

Which other online payment solutions are also worth considering?

If you’re unsure about using Ethereum as a payment solution, other options exist. You can buy goods and process deposits or withdrawals using Visa, MasterCard, or PayPal. Other reliable methods include Skrill, NETELLER, Western Union, and direct bank transfers. American Express and EcoPayz are also popular choices. Available options depend on your country.