The Crypto That Is on the Rise - Ethereum
When you think about cryptocurrencies, Bitcoin (BTC) likely comes to mind initially. However, one popular crypto that’s on the rise is Ethereum (ETH), which is a smart contract platform.
What is Ethereum (ETH)?
Ethereum is a lot like Bitcoin, but many consider this crypto superior to BTC because of the smart contract system. The crypto launched in 2013 by Vitalik Buterin and has been on the rise since.
We’re going to save you all of the technical jargon because frankly, it isn’t important. What you need to know is that Ethereum is a Bitcoin alternative that has been growing in popularity.
How Fast Has Ethereum (ETH) Risen?
Ethereum is one of the only alt coins that has been able to penetrate the cryptocurrency industry.
It was one of the early alt coins to Bitcoin and quickly became popular among crypto enthusiasts. It has since become popular among sports bettors, for numerous reasons, which we’ll look at.
- Anonymity: You won’t be able to remain completely anonymous using ETH, however, it’s still a lot safer than using credit/debit cards, which is valued by sports bettors globally.
- Speed: Sports bettors expect instant deposits and fast payouts. When they use Ethereum those needs are met, as transactions are processed in 15 seconds and 5 minutes.
Ethereum is the #2 ranked cryptocurrency behind BTC. It’s more popular than Litecoin (LTC), which is a popular cryptocurrency and widely available as a banking option at online bookies.
At the time of publishing, the value of Ethereum is $168.55 USD. Since launching in 2013, the crypto has had an incredible return on investment (ROI) of 5852.39%.
However, it should be noted that Ethereum is very volatile. As a pay per head bookie, you likely don’t want to deal with the volatility of a cryptocurrency, so you should convert ETH into $USD.
There are 107,537,557 ETH in circulation and the crypto has a market cap of $18,125,359,495.
As a bookie, dealing with clients that aren’t local can be a little troublesome. You need ways to be able to collect and payout money. Ethereum provides PPH agents with a simple solution.
Anyone in the world can purchase Ethereum quickly online. It’s even easier sending Ethereum to someone else, making this cryptocurrency an ideal method to settle up with your clients.
In today’s industry, a pay per head site that accepts Ethereum is going to become popular. There’s a demand for bookies to offer Ethereum, as it isn’t as widely offered as BTC or LTC.
Offering your players as many ways to fund their account is ideal. While Ethereum is a lot like BTC, it’s still a great idea to offer ETH because some bettors may only have ETH and not Bitcoin.
The most important thing when offering a crypto as a banking method is that it’s simple for the bookie owner to convert the crypto into $USD, which is why Ethereum is a great option.
There are plenty of exchanges online where you can instantly convert ETH into $USD. Due to the volatility, you don’t want to hold ETH, as your bankroll could windle from market movements.
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