Ethereum’s parent business is now more expensive than Bank of America or Disney. If you want sports betting, should you switch to ETH or just stick with BTC as your currency of choice?
Differences Between Bitcoin vs Ethereum
Many of the best sports betting sites now accept BTC bets. Unfortunately, after setting a record in 2021, Bitcoin has not been able to return to the same numbers in the past few months.
Ethereum, has increased interest in the past year, due to its new high in November 2021, reaching more than 4,800 US dollars. This is an incredible rise for the second largest cryptocurrency, which certainly lags behind bitcoin.
The question is, which of the two cryptocurrencies, ETH or BTC, gives you the best option for sports betting. If you consider this, you can compare based on these six factors and choose the one that suits your choice, ETH or BTC sports betting.
1. Potential Future Values
The first consideration is the potential future of Bitcoin or Ethereum. meIt is impossible to predict the value of your crypto investment in the future. It is also difficult to determine if one has reached the monetary ceiling.
Today, ETH is seen as a better investment because of its good performance and how much its value will grow over time. However, none of that is certain in cryptocurrencies or sports betting.
2. Availability in the Online Market
Internet gaming was one of the earliest industries to use the Bitcoin cryptocurrency, and as a result, bitcoin has long been evolving. Thanks to this, there are more Bitcoin casinos to choose from than Ethereum casinos.
A very good example is that we found 121 different Bitcoin gambling sites but only eight different Ethereum gambling sites. Of course, the figure may be different from the one you see here, depending on where you live. dice Betting is still the most common form of ETH gambling, but this trend is slowly evolving.
3. Smart contracts
The ETH blockchain is primarily responsible for popularizing smart contracts. In contrast to Bitcoin, Ethereum includes “baked in” smart contract capabilities for its protocols. Thanks to these contracts, intermediaries are not required to transfer values from one wallet to another (especially the order of pre -programmed functions).
The code is available to the general public for scrutiny to ensure that the contract works. Using this method, a casino can be built using smart contracts. This allows players to bet without intermediaries and in a transparent and verifiable system.
Some “smart casinos” are already working on Ethereum, which has smart contract capabilities. In addition, a smart contract technology called Rootstock, which operates ‘off-chain,’ allows the development of similar applications on Bitcoin blocks.
Many people choose to play at anonymous casinos when it comes to online betting. Bitcoin is a preferred currency for gamers who do not want personal information associated with transactions.
Ethereum is similar in this respect, and there is no difference between the two in terms of anonymity. Players who want to be anonymous must use a Bitcoin VPN and only use their Bitcoin or Ethereum wallet address once during the game. Note that different addresses can reveal information about the owner.
5. Access to Currency and Game Options
The main advantage of Bitcoin versus Ethereum is accessibility. No matter how difficult it may seem, it is much easier to buy Bitcoin from Ethereum.
In comparison to Ether, there are many other casinos that accept Bitcoin. Unfortunately, Ethereum -based sports betting is currently not available; however, this is expected to change in the near future.
On the other hand, Bitcoin offers a variety of gaming options, including casinos, poker rooms, sports books, and casual games.
Similar to Bitcoin vs Ethereum
Since Bitcoin and Ethereum are the major cryptocurrencies right now, there are definitely some similarities between them. The equation includes the following:
- Because both are blockchain-based coins, it is clear that both benefit from open-source, decentralized networks.
- When it comes to money transfers in casinos, BTC and ETH are very fast. Deposits and withdrawals can be made in seconds, and there is no need for a third party, such as a bank, to participate.
- Both superior provide absolute security. The nature of the currency technology is directly linked to the decentralized network of blockchain technologies. This makes him almost impossible to hack.
- Not to be outdone, dealing in BTC and ETH allows you to remain anonymous. Currency transfers are completely hidden from prying eyes and cannot be tracked by financial institutions or government agencies.
Making a decision and playing with what you like best may not be as easy as you think. But, BTC is the best option for people who want to keep their money safe and bet with a valuable currency.
Ethereum gambling is a viable option if you’re looking for pure fun, adrenaline pumping speed, and easy accessibility. Unfortunately, a typical FIAT casino cannot compete with any of the alternatives in terms of quality or value for money.