Ethereum is a a cryptocurrency service that’s used for a range of different purposes, with everything from small hobbies to huge businesses relying on it as a payment method and a way of transferring money securely. As a form of bitcoin, it’s been getting more and more popular as more people realise how useful it can be, and the bingo industry has definitely noticed. In fact, there are sozens of Ethereum bingo sites out there that accept the Ethereum platform, along with bitcoin in general. But how does the system work, and is it any better than just paying for your bingo games normally?
What is Ethereum?
Ethereum is a cryptocurrency hosted on the platform of the same name, which supposed to be an alternative to Bitcoin. It’s not a single sever in one place in the world, and is actually a “world computer” that’s spread out in an entire network. Customers earn Ethereum either by buying it for real money, receiving it as part of a transaction or mining it with their computers. The money isn’t “real” in the sense that it’s in a bank or kept in a physical safe somewhere – the whole of the Ethereum economy is based on programming and data, and every computer in the network keeps every other computer in check to prevent people from stealing or duplicating money. There’s no middlemen or official banks, and users control everything about their funds themselves.
These days, Etherium and it’s blockchain technology are worth millions in the world economy, and it’s starting to become more and more accepted by casinos and bingo sites that see it as an untouched market. It’s not physial, and it’s not something you can hold, but more if it is always being mined and the market for it’s use is growing bigger and bigger every year.
Why is Ethereum Different?
On a surface level, Ehtereum might just seem like a more complicated way to deposit and withdraw bingo money, but it actually has plenty of different benefits that make it much better than amny other deposit methods. For example, it’s a lot fairer and more secure than using a bank, since every computer in the network is watching out for one another: if somebody tried to hack into anything or steal money from one user, it’ll be almost impossible for them to actually get the money in a usable form.
Not only that, but Ethereum (like all bitcoin systems) lets you bet anonymously on casino games and bingo sites, so you don’t have to put in your personal details or bank information to be able to actually do anything on the sites. This is great for players who are very protective of their identity and hate giving away personal information to gambling sites, especially if they’ve had bad experiences with stolen information at previous sites they’ve tried to play on.
One of the other major benefits is the speed of everything the system has to process. Unlike a bank, there’s no third party that needs to arrange and approve your bingo and gambling payments: you have full control over your own money and can use it however you like with no enforced wait times or processing delays. That goes both for bingo deposit and withdrawal processes, since neither of them have to go through a middleman or a separate set of checks: the only delays will be ones caused by the bingo gambling sites themselves.
How Do I Bet With Ethereum.
Betting on bingo games with Ethereum is like using any other major cryptocurrency system, but if you’ve had no experience with tools like bitcoin before, it might not be clear exactly how it works. First of all, you’ll need an online wallet: these are the equivalent of a bank account (or, more accurately, an “address”) made of online software that holds your money and acts as your balance. From here, you can send and recieve bitcoin crypto currency without having to include personal details in the exchange, and can view things like your current number of coins or various options with how you can use them.
Once you have a wallet, you need the cryptocurrencies themselves. Like bitcoin, you can just buy Ethereum outright from various sites if you want to, as if you were buying any other item from an online site: you can just put it on your credit or debit card and send it to your wallet – once it’s there, it’s yours. Alternatively, if you want to do everything yourself, you can also look into mining the currency you need. It can be costly, but mining involves a whole technically process regarding your computer and using it to help process cryptocurrency transactions. It’s difficult, so it’s not recommended unless you’re already taking part in it.
Once you have your bingo money ready, you can just go to any bingo sites that take cryptocurrency and select it as your preferred deposit method. All of the usual depost bonuses and deposit min systems should still apply, but you’ll want to check the terms and conditions to see if there’s anything different about using cryptocurrency compared to “real” money.
Note that Ethereum isn’t just a computer-only service: it can also work on mobile devices too, but you’ll need to visit the right sites or have the proper apps installed if you want to make a proper deposit on bingo sites.
Sites That Support Ethereum
Below is a list some of the major bingo sites that support Ethereum, as well as other casinos or gambling sites that offer more than regular bingo games. Their new customer bonuses and first-time player bingo bonus features will be mentioned in the list, too, along with any code you might need or restrictions you’ll need to follow after registration.
Bonuses at Ethereum Bingo Sites
The bonuses offered by bingo sites can dramatically change how you actually play games there, as well as how your funds are used and the types of games you’ll end up playing. Bonuses can be tricky to understand, especially with cryptocurrency involved, and you could create a whole list of each individual type without covering them all.
A bingo deposit bonus is the the most common type of bingo bonus you can get, and the name makes it clear how it works. When you make a deposit (above a min deposit level, I.E. £10) you get something as a bonus, whether it’s bonus funds for bingo, online bingo multipliers, free spins on slot games or even free cash to use on live casino games. There are dozens of different types and thousands of unique bonuses out there, but here are some of the more common examples.
A match bonus bases the bonus funds off of your min deposit. A 100% match bonus will give you double the “real money” you pay as as extra spending cash to use on bingo, casino games or whatever else you’re playing. Players won’t always get a 100% match bonus: sometimes it can be 200%, 300%, or something even higher. These bingo deposit bonuses are quite straightforward, but they also withdrawal restrictions that apply to the bingo customers.
If you want to withdraw your funds (as either cash or cryptocurrency) then you need to hit a certain minimum limit. This limit is based on the amount of cash you deposit into the casino, and is calculated as a multiplier of the bonus you received. For example, a bingo bonus with a 10x wager requirement means that you’ll have to wager a collective total of ten times the bonus to be able to withdraw it. If you deposit £10 and your bonus is an extra £40, that means that you might have to wager a total of £500 to get your winnings out.
There are also sometimes winnings caps to prevent people from earning too much. These are put in place so that new customers can’t bankrupt the house by getting lucky and walking away with far more winnings than the brand can afford to give away. This means that alongside the withdrawal restrictions, you might also have a limit on what you can win: if your winnings cap is £300, you can’t earn more than a max of £300 with your bingo bonus. This doesn’t apply to winnings you get with regular funds, only the bonus cash that you’ve won.
Keep in mind that some match bonuses are better than others, and they might all have different terms or conditions you need to follow. Sometimes the funds can only be used on a certain bingo game or set of casino games, and in many cases you have as strict time limit to meet the wagering requirements in. If you don’t earn enough to withdraw the bonus cash, it’ll disappear once the time expires. This time limit can be anything from three days to a month, although seven days, fourteen days and thirty days are generally the most common time limits you’ll see.
Some bingo sites have more than just bingo on offer, and will have slot games, live casino games and various other game types to keep you interested. Some of these games will have a clear “spins” or “rounds” mechanic (i.e. not things like cards), meaning that you’re likely to win free spins for them at some point. These spins can come from a deposit bonus offer just like a bingo match bonus can, but obviously don’t apply to bingo itself.
These spins each count as one spin, or “play”, of a certain game, and might have their own value. Players with fifty free spins will be able to play a slot for free fifty times, for example. Winnings form these spins will generally have the same wagering requirements and withdrawal restrictions as a normal match bonus, as well as several days before they vanish.
Earning around 15 or 20 free spins is something that can happen quite often in the middle of slot games, too, usually from features that are triggered during play. These won’t generally have wagering requirements or a time limit, since they’re a built-in part of the game. Sometimes, free spins only apply to a certain slot game, or a selection of games: you can’t use these spins on any others, even if they’re similar or by the same company. The spins can only be used where the terms and conditions say they can be used.
The equivalent of these for online bingo is “bingo tickets”. These represent the physical bingo tickets that you’d use to play bingo real life. Rather than being any kind of real bingo tickets, these bingo tickets are just a digital representation of your ability to play a game of bingo for free. Bingo tickets usually have a relative value assigned to them (i.e. you can only play with a present wager or bet), but they might actually act more like bonus cash than bingo tickets, giving you a certain set of funds you can split up into as many bets as you want until the bingo tickets are exhausted.
Both free spins and bingo tickets will often be assigned to a particular game, and can be used to play elsewhere. For example, bingo tickets might only work on the bingo rooms of a certain game, whereas free spins might only work on a specific slot game. This can make good bingo tickets and bonus spins hard to find, since they’re limited and can’t be used on any games you want. You might sometimes have the opportunity to turn unwanted bingo tickets or free spins into a smaller cash equivalent, but this is very rare any only done in very niche situations.
No Deposit Bonuses
A no deposit bonus is basically the exact opposite of a deposit bonus, as the name suggest. Instead of having to deposit cash to fulfil an offer, you get the bingo bonuses involved for free by signing up. However, bingo customers that use these will generally need to deal with higher wagering requirements than normal to compensate for the increased amount of free bonus funds they’re getting.
Bonus funds and spins from a no deposit bonus are functionally the same as any “normal” online bingo bonus, so they can be used in the same way and offer the same benefits when used on a game. As long as you’re wary of the increased wagering restrictions, you’ll be able to play with them as normal.
You’ll usually have to verify your identity when using a no deposit bingo bonus, since they’re free to activate and therefore easy to abuse otherwise. Because of this, customers who use cryptocurrency for privacy reasons might struggle to find a good way to verify their identity – if you really care about your privacy, you might have to let those potential bonus winnings go.
A welcome bonus, also called new a players bonus, is a bonus that’s given out by the operator as a reward for joining their bingo community. For example, when you create your account, you might automatically be given multipliers on your first three or four deposits – these are meant to entice people to play at the bingo sites that offer them. These will often have time limits that for you to activate them within a few days of creating an account, since it’s only mean for the newest players, and people who already have accounts aren’t supposed to be able to activate it at all.
As mentioned earlier, some games have built-in bonus feathers that offer things like bonus funds, free spins, bingo tickets and other useful extras. This is common with both slots and bingo sites, but any gambling site could do this. They can’t be triggered through an offer or any kind of online system, and they just come up from time to time while you’re playing.
These bonuses also generally won’t have wagering requirements on the bonus funds, since you got them directly from the online bingo game itself. This depends on the bingo sites you’re playing on, though – some are much more likely to have them than others.
Some of these bonus options might be completely unrelated to anything else mentioned here, too. Some games have a built-in wheel feature that gives you random bonuses every time it’s triggered, and specific sites could use a VIP system to give you special rewards if you’re a dedicated player. There are so many of these out there that it’s impossible to tell which ones are best for each situation, and sites can change or adjust their bonuses at almost any time if they want to.
Should I Use Ethereum Bingo Sites?
Ethereum may be a strange system, but over time, it’s easy to get used to. It’s a great way to play bingo with much less processing time, but it doesn’t get over anything like wagering requirements. However, even if you’re not a huge fan of online bingo, you can still try it with other things, like live roulette or slots! The great thing about the cryptocurrency system is that it’s not locked down to any one situation, and can be used in place of a banking system for almost anything – regular shopping, making house payment, buying digital goods for yourself and, of course, gambling. Even if you’re not going to use Ethereum for gambling reasons, it might still be a good idea to get used to it and see how it works, since having a financial system that isn’t central to one bank or company can be really useful if you act responsibly with it.
Aside from that, cryptocurrency is still quite similar to most other payment options. It can still be used for gaming, let you claim rewards, spin wheels, earn a jackpot, get used in blackjack games and appear in dozens of other situations in nearly any country, since it’s not tied down to one location, place or nationality. This also makes it a great option for playing bingo in other countries, where processing times can be more extreme – you might even be able to skip the currency conversion process entirely, saving you plenty of time and meaning that you might not have to pay any conversion fees.
So, should you use the Ethereum cryptocurrency to play online bingo? Well, only if you think it’s a good idea. Cryptocurrency doesn’t have any immediate downsides, and is much safer for payment reasons than using your bank, but it’s still a new currency. That means that you can often watch it’s value change live online, and see how it’s being used in the modern market. This makes it a common place for investors to pool their funds, but that can throw the prices and exchange rates through a loop even more than normal. Don’t throw all your finances into cryptocurrency and expect them to be safe forever: there was already a bit bitcoin crash in 2018 that wrecked dozens of small online economies for a while.
On the other hand, if you just want a tool that you can use to transfer a payment back and forth with complete privacy, full control over your cash and a better guarantee that nothing will go wrong, there’s no reason not to use it! Ethereum is a great way to make almost any kind of payment, and the positives definitely outweigh the negatives for almost all situations. The only problem you might face is finding a site you like that takes Ethereum as a payment option, since it’s still growing and hasn’t been adopted by every site yet, but you can never tell where it’ll end up. The earlier you can start to use Ethereum and similar cryptocurrency services, the better-prepared you’ll be once they become more widespread.
Other Payment Methods
Check out the list below for all other bingo payment methods:
- £10 Deposit
- £5 Deposit Bingo
- £5 Minimum Deposit Bingo Sites
- Apple Pay Bingo Sites
- Bingo Sites No Card Details
- Bitcoin Bingo Sites
- Boku Bingo Sites
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- Ethereum bingo sites
- Neteller Bingo Sites
- No Wagering Bingo Sites
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- PayPal Bingo Sites
- Paysafe Bingo Sites
- Skrill Bingo Sites
- Ukash Bingo Sites
- 300% Deposit Bingo Sites Bonus
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