Best Online Lotteries Accepting Ethereum 2022

The second-largest in the world, Ethereum is an open-source cryptocurrency. Many online lottery sites and casinos have adopted Ethereum as part of their payment methods. The main reason behind it is that Ethereum is an easy way to transfer funds while players enjoy the anonymity that comes with it. Many online lottery sites and casinos allow deposits and withdrawals in the form of cryptocurrencies. It is usually stored in e-wallets and a player can buy Ethereum from various financial merchants in the market.

Ethereum has been in the market since 2015. It uses a public blockchain market as an open-source. This allows it to operate virtually between accounts. This sets it apart from other forms of cryptocurrencies. Once a user becomes familiar with Ethereum, it becomes easy to use it as a deposit method in the online lottery sites he/she uses.

Best Online Lotteries Accepting Ethereum 2022
Use for real money games
Use for real money games

Use for real money games

Online lottery sites nowadays let players stake Ethereum on real money games. Players even receive big bonuses when they purchase a lottery ticket using this cryptocurrency option. Both loyal and new online lottery players are eligible for deposit bonuses, no deposit bonuses, rebates, and so much more. Online lottery sites tend to let players using Ethereum or other cryptocurrencies play all games with zero jurisdiction issues as most governments are yet to regulate cryptocurrencies.

Being that crypto payments are the future, Ethereum will continue to see a rise in the number of online lottery sites that use it as a viable payment method.

Use for real money games
How to make a deposit with Ethereum

How to make a deposit with Ethereum

Deposits of cryptocurrency are unlimited unlike deposits of fiat currency which are limited depending on the deposit methods. There is no limit to the number of tickets a player might decide to purchase on the online lottery sites using Ethereum. However, to use Ethereum as the preferred payment method, the online lottery site in question must have this cryptocurrency listed as a payment method.

If it is listed on the lottery site online, log into the account and click on Ethereum to make a deposit into the online lottery platform. The player then has to click on the Ethereum option where they will have to log into their Ethereum e-wallet to automatically transfer the coins into the online lottery site. Deposits are usually instant.

Link Ethereum wallet to a bank account

To link Ethereum to a bank account, a user will require the services of a cryptocurrency exchange platform. This allows the user to buy ether, Ethereum currency using the preferred bank credit card. A user needs to go through the following steps:

  • Open a cryptocurrency exchange platform account
  • Add the preferred payment method; credit card or bank account
  • Navigate through the interface to the instant buy option and select Ethereum
  • choose the amount of Ethereum desired to purchase
  • Click on the buy and complete purchase option.

Once a user makes the Ethereum purchase, they are encouraged to make sure the coins are stored in their own personal wallet for security.

How to make a deposit with Ethereum
Direct deposit

Direct deposit

Using a cryptocurrency exchange platform, an online lottery player can directly deposit funds to Ethereum. A cryptocurrency exchange platform like a coin base allows the user to deposit any amount they would wish into their Ethereum wallet directly. It allows the user to select the type of cryptocurrency they would like their funds to be converted to or keep the cash in the wallet as normal currency. The minimum deposit amount is 0.01ETH on most online lottery sites.

Mobile phone deposit option

Using a mobile phone to make cryptocurrency deposits can be a little bit tricky for first-time users. They are required to download several applications to facilitate the deposit process. On the smartphone, a player may be required to download a cryptocurrency exchange platform application, the Ethereum cryptocurrency application, and, the online lottery site application if available.

Once this is done, log in to each of the accounts. On the cryptocurrency exchange application, the player is required to purchase coins that he will later transfer into his e-wallet that is directly linked to his preferred online lottery site. Using his online lottery application, he can select the deposit option and follow the prompts as displayed on the mobile application to facilitate the deposit process.

Direct deposit
How to make a withdrawal using Ethereum

How to make a withdrawal using Ethereum

While making lottery payouts or withdrawals using Ethereum, a player might be required to use the same procedure as though depositing funds. A player needs to initially confirm that his/her online lottery site account has enough money to facilitate the withdrawal in form of Ethereum.

The online lottery platform might charge a withdrawal and conversion fee for cryptocurrency withdrawals. Visit the payment page on the online lottery site and initiate the withdrawal process. Since the Ethereum option was already selected during the deposit phase, click on the Ethereum e-wallet option displayed on the platform. Fill out the Ethereum e-wallet details, withdrawal amount, and click on withdraw.

Processing time for cryptocurrency winnings is usually in minutes of making the withdrawal request. This could be anywhere from 5-20 minutes of making the request. The maximum withdrawal limit for Ethereum is 100ETH.

This speedy withdrawal process is facilitated by the fact that an Ethereum transaction on an online lottery site does not depend on any banks or any other go-between. This effectively eliminates any waiting time as compared to using credit or debit cards.

Mobile phone withdrawals

A player with both his online lottery site and Ethereum e-wallet applications on his smartphone can make a withdrawal. The process is practically easy and fast if the player has linked his e-wallet account to his online lottery site account. A player if he/she wishes, can convert their Ethereum into fiat currency before finalizing the withdrawal request.

How to make a withdrawal using Ethereum
Safety and security in Ethereum

Safety and security in Ethereum

Ethereum is a more convenient payment and deposit method in online lottery sites as it provides more privacy protection to the players. Its transactions are anonymous. With Ethereum, a player cannot duplicate a funds transfer as the system processes a single transaction at a time.

With the way technology is rapidly changing money transactions, online lottery platforms and casinos are becoming more receptive to Ethereum and other forms of cryptocurrencies. Being a new payment method to many, all security protocols are met and it makes it hard for a player to be scammed of his/her Ethereum coins once they are in the e-wallet or the online lottery site account.

With Ethereum, a user can buy cryptocurrency coins using any banking payment method. These include VISA, MasterCard, credit, and debit cards. All the user needs to do is choose the number of coins he wishes to purchase in the Ethereum e-wallet platform and link it to his/her preferred bank.

Safety and security in Ethereum
Ethereum customer support options

Ethereum customer support options

Most digital coins do not have a dedicated support system as compared to traditional payment methods. As a player, it is important to know that Ethereum is decentralized. This means that no central organization, person, or entity owns Ethereum.

With this in mind, there is no official support channel for it. For an Ethereum e-wallet holder, to access customer support in case of trouble, most of these e-wallets have dedicated support teams. This is a drawback as a user cannot raise complaints about delayed transactions, conversion rates, and incorrect coin transfers.

Ethereum customer support options