Ethereum is open software distributed public blockchain network that allows users to record transactions in a safe and secure way. Ethereum has its own form of cryptocurrency known as ether. Ether can be used to pay for services on the network or at institutions that accept the form of payment.
Many financial experts are predicting that new public platforms such as Ethereum will soon change the way we process transactions and that the blockchain will change the way we store, share, and protect personal and financial information. This article will help explain the uses of Ethereum and its cryptocurrency, ether, can and will most likely be used for in the near future.
Online Gambling
Online Gambling sites were one of the first online entities to jump on the Bitcoin and Ethereum ship. Today there are numerous sites that will accept Ethereum’s ether and other forms of cryptocurrency as payment for account funding. Ether has a current market value and when you make a deposit in ether gambling sites will convert it into USD or what another form of currency that is accepted or that you wish to use.
Most players and gambling sites actually prefer using cryptocurrencies as they transfer funds faster and securely. Online casinos that accept ether will usually offer incentives in the form of bonuses for using a digital currency. Players often use Ethereum to fund their accounts because of the faster withdrawal times and the free playable money from bonuses. When using crypto, withdrawal funds are available within 24 hours and sometimes instantly.
Ethereum Retailers
Ethereum’s currency ether is still in its infancy. The platform itself has only been around for a few years and the currency is finally starting to get accepted by select retailers. While ambitions are high for the new cryptocurrency and the Ethereum network, there are still many obstacles and strides to go. Below are some retailers that currently or will have announced that they will soon accept ether in its purest form (ETH) for purchases.
Finnatravel.com
If you find yourself looking to travel soon, rest assured you can use Ethereum’s ether to purchase airline in Indonesia. The website finnatravel.com will now accept ether as payment and they have flights that travel all over the world. The only drawback is that the airline is based out of Indonesia and boarding options are very limited.
PlayboyTV
PlayboyTV recently announced that they will be accepting ether by the end of 2018. They will be accepting ether and Bitcoin for online movie purchases and online games. Playboy Enterprises announced that they will have a crypto payment wallet that will allow for members to make these discreet purchases.
Grosbill.com
The French computer store Grosbill.com recently announced that they will be accepting Ethereum’s ether to increase their sales and to gain some more customers by allowing the purchase to be paid with ether. One of their main reasons for accepting ether the company stated was because their competitors don’t. They have plans to accept other forms of crypto in the future but for now its just ether.
Online Transactions & Online Shopping With Ether
The world economy is transaction based and many people predict that Ethereum’s blockchain is going to change transactions forever. Ethereum uses a method known as smart contracts to exchange anything of value risk-free. Ethereum’s network records transactions in encrypted computer code so the record is harder to alter, and the information is safer than current methods.
As of now, there are not many options for shopping online, but ether is getting more popular by the day and soon many people believe you will be able to purchase almost anything with it. A few professional sports teams will accept ether for online ticket sales and online merchandise sales. Other than that and the websites mentioned above, finding a retailer that accepts ether can be challenging. Ether is currently making its way to global acceptance but so far it has been a slow ride.
Ether Money Converters
Since not much can currently be done with ether there are services that will convert or buy your digital currency. Dether is a service that facilitates the buying and selling of cryptocurrencies. They basically put the network on the blockchain and connect buyers and sellers to one another with smart contracts. Dether supplies the network to make the trade and receives a commission off each transaction made.
Shape-shift is another converter service that can exchange your crypto for any other form of digital currency into whatever form of crypto you want or need. The service is free and big retails such as Overstock.com uses the service to accept over 60 different cryptocurrencies.