Play Mega Moolah with Ethereum
Your ability to enjoy a good game of Mega Moolah online is no longer determined by whether or not you have a credit card. Thankfully, growing numbers of online casino properties are now accepting cryptocurrency deposits.
We trust you are familiar with these three lesser-known cryptocurrencies. If not, that's okay. We will delve into each of them in this post. More importantly though, we want to explain how you can use your coins to play Mega Moolah online. As you probably know, Mega Moolah is the most popular progressive video slot in the entire online gambling world. That's actually a fact and not just because we are writing so on MegaMoolah.com.
Mega Moolah has made plenty of millionaires in the past. There is no reason to think it will not continue doing so. That's what makes the game so popular. Even better is the fact that Mega Moolah offers four different jackpots. The Mega jackpot is the largest, but there are three smaller jackpots as well, the Major, Minor and Mini. With all that said, let us get to the discussion of playing Mega Moolah with Ethereum, Ethereum Classic, and 0x.
Finding a crypto casino
The easiest way to use your coins to play Mega Moolah is to head on over to our casino that accepts direct wallet-to-wallet cryptocurrency deposits. In our business, we often call these casinos "Bitcoin casinos". But do not let the name fool you. A lot of well-known Bitcoin casinos also accept other coins.
The advantage of this sort of online property is that making your crypto deposit is direct. You simply navigate to the banking section of the site, choose your favourite coin, and make your deposit by pushing coin from your wallet to the casino's. Assuming the casino of your choice accepts Ethereum, Ethereum Classic, or 0x, you are all set. Just make your deposit and start playing.
Because cryptocurrency transactions are secure and fast, you will not have to wait hours or days to start playing. Most crypto transactions show up in seconds. Even if you have to wait a few minutes though, it is still faster than waiting for an electronic bank transaction the clear.
Some casinos convert coins
You should know that not all online casino properties dealing in cryptocurrency deposits retain the original currency for those deposits. In other words, some casinos convert other coins to either Bitcoin or fiat. No, they are not trying to cheat you. There is a very good reason for converting.
The more currencies a casino deals with - be these fiat or crypto - the more accounting is necessary on their part. The fact that there are literally thousands of different cryptocurrencies out there would make accounting a nightmare if a casino accepted everything and anything. It is just simpler for them to convert other coins into bitcoins for accounting purposes.
You can convert your coins
You might run across a Bitcoin casino that does not accept Ethereum, Ethereum Cash, or 0x. Don't worry. You can still play at that casino if you are willing to convert coins yourself. You would convert your Ethereum, Ethereum Classic, or 0x in the same way you would convert pounds to euros.
The way you do this is by finding a global or local exchange willing to make the swap for you. There are plenty of them out there. You create an account, push some coin to the exchange, and get the equivalent back in Bitcoin. Note that there will be exchange fees involved, and there are also currency rates to account for.
Converting your coins allows you to then make a bitcoin deposit at your chosen casino. Everything else remains the same. What you have done is completed a transaction that allows you, at least indirectly, to play Mega Moolah with Ethereum, Ethereum Classic, or 0x.
Use an e-wallet system
Yet another option is to use an electronic payment system to make your casino deposit. Of course, the payment system would have to welcome cryptocurrency deposits. One such payment system is Skrill. You might already be familiar with the Skrill name as we've written about it many times, including our latest article, How to use Skrill and crypto to play Mega Moolah.
Skrill is a great payment system for cryptocurrency fans because of its many options. It supports 40 different fiat currencies and seven cryptocurrencies. Ethereum, Ethereum Classic, and 0x are just three of those cryptos.
How does it work with Skrill? Well first, note that you can buy and sell the seven supported cryptocurrencies directly from your Skrill account. This means you can use Skrill as a substitute foreign exchange. Given the shaky reputation of some exchanges, this is not necessarily a bad idea.
Whether you buy and sell coins or push existing coins into your Skrill account, you can use the Skrill payment system to fund your online gambling account. You just need a casino property that offers Mega Moolah and accepts Skrill. Suffice to say there are a lot of them out there. Almost every online casino that accepts electronic payment systems supports Skrill.
If you cannot find an online casino you like that accepts Ethereum, Ethereum Classic, or 0x, you can always convert your coins to bitcoins instead. Or use an electronic payment system like Skrill. That said, let us talk about these three cryptocurrencies in a bit more detail.
Ethereum is not technically a cryptocurrency. It is actually a blockchain platform on which all sorts of applications can be written. The coin associated with Ethereum is known as Ether (ETH). People use the two terms interchangeably, which is fine.
The Ethereum platform was first proposed by a Russian-Canadian computer programmer with ties to Bitcoin Magazine. As much as he appreciated the Bitcoin platform, he believed that it could be made better with the addition of a scripting language that would facilitate the development of blockchain applications. He couldn't start with Bitcoin core due to its inherent limitations. So instead, he built Ethereum from the ground up.
The main thing that sets Ethereum apart is that it is a computing platform first. Its blockchain can be used to build applications covering everything from financial transactions to inventory control. The tokens generated by an Ethereum application can represent whatever app developers want them to represent. This is something that cannot be done with Bitcoin; Bitcoin is only a monetary system. It has never been, nor can it be, anything else.
About Ethereum Classic
Ethereum Classic came about in 2015 as a result of a security breach discovered in the original Ethereum code. Bear in mind that Ethereum's digital currency was controlled by a decentralised autonomous organisation (DAO). A security breach within the DAO made it possible for ETH to be stolen, and unfortunately, that is exactly what happened. The equivalent of US$50 million was stolen from DAO accounts.
Those within the Ethereum community knew the problem had to be fixed. They couldn't agree how to go about it, though. One camp supported a hard fork that, through a code change, addressed the security flaw and restored stolen coins to owners as though nothing had happened.
Another camp supported a hard fork with the same security fix but no restoration of stolen coins. They asserted that the immutability of cryptocurrency transactions dictated that the losses had to stand. It was this second camp that created Ethereum Classic.
Both camps implemented the necessary fixes to prevent future theft. Only the Ethereum Classic fork maintained blockchain immutability, as it does today. It is worth noting that Ethereum Classic does not have the support of the Ethereum Foundation.
About 0x (ZRX)
0x is another hybrid creature along the same lines as Ethereum. Rather than being a cryptocurrency platform exclusively, 0x was originally developed as a new kind of crypto exchange. Its original developers started with the Ethereum blockchain and used it to build a system through which people could exchange a virtually unlimited number of coins and tokens.
In theory, 0x allows users to trade everything from digital coins to alt coins and tokens. That includes the platform's own digital coin known as ZRX. But why do it? What makes 0x different as an exchange? In a word, decentralisation.
Cryptocurrency exchanges are centralised in terms of their business models. They are controlled by single entities or companies that operate in the same way fiat exchanges operate. Such centralization can create problems in the minds of cryptocurrency purists.
0x was created to be a decentralised exchange. As such, it would be controlled by all of those users who bought and sold on the network. Though the idea seemed risky by some, it has proven itself to be workable. Both 0x and ZRX are doing quite well. For the record, ZRX is currently worth USD $0.23. Its market capitalisation sits at $139 million.
Note that Ethereum, Ethereum Classic and 0x are all built on the Ethereum blockchain. That makes them similar in many ways as cryptocurrencies. And yes, you can play Mega Moolah online with each of the three.
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.
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