Ethereum is a decentralized blockchain platform, or in other words, an open-source, distributed software platform that uses blockchain technology. It’s known to be Bitcoin’s biggest competitor and its native cryptocurrency is Ether (ETH).
Ethereum had its beginnings back in 2013, when programmer and co-founder of the Bitcoin Magazine, Vitalik Buterin, came up with an idea that was initially intended to make Bitcoin work better by expanding its reach beyond financial transactions. The project was eventually launched in 2015 thanks to fundraising through an online crowdsale.
Today Ethereum is second only to Bitcoin in terms of crypto market value. Its functionality carries a lot of advantages and growth potential, which quickly attracted investors. The platform also offers many opportunities for Counter Strike players, who can use it to successfully sell CSGO skins.
Why Use Ethereum to Sell CS:GO Skins?
There are many advantages to using Ethereum, which apply both in the real world and when wanting to trade skins. Therefore, in an effort to meet the needs of its users, Skinomat is one of the few sites that provide players with the option of receiving instant cashout in cryptocurrency. Let’s now go through all the reasons why this may also be the best option for you.
The Benefits of Crypto
First, Ethereum is not tied to any governing body and is fully decentralized. Some people think this makes it risky, but, in fact, the independence of cryptocurrencies makes them immune to all political situations, censorship, and international blockades. On top of that, they provide users with complete privacy and do not require the input of any sort of sensitive data upon registration. This is made possible by the fact that Ethereum, like Bitcoin, operates on the basis of blockchain, so the only way to identify yourself is through the address of your online wallet. All information is contained in the form of 0s and 1s passing through the internet.
Ethereum vs Bitcoin
First of all, the most important difference between Ethereum and Bitcoin is that Bitcoin, was created solely with the goal of creating a decentralized financial system. Ethereum fulfills this function, but at the same time goes beyond it, as it is based on contracts and interaction with apps built on top of the Ethereum network. In other words, Bitcoin acts as a form of currency or gold, while Ether is the fuel that powers the Ethereum network.
On top of that, these currencies operate on the basis of two different consensus mechanisms. Bitcoin uses proof-of-work, a system that asks participants to perform complex calculations for a chance to become the user who gets a group of transactions validated and added to the blockchain. Whereas, starting in 2022, Ethereum, in order to increase the level of stability and security, moved to a proof-of-stake basis, a system that asks participants to put up their own cryptocurrency for a chance to validate a transaction and add a block to the blockchain.
Advantages of Ethereum
The most important advantage of Ethereum is the security it offers, as all contracts contained in the network are immutable. This means that no changes can be made to them, and the network is very well protected from hackers. In addition, the transaction processing time is much shorter than with Bitcoin, thanks to the proof-of-stake basis. This consensus mechanism not only saves the user’s valuable time, but also their money. By using much less energy to process contracts, Ethereum makes Ether a much more sustainable cryptocurrency, and as a result, it also charges less to exchange for regular currencies. However, it is important to remember that the market value of Bitcoin is still higher and making significant profits depends entirely on the current situation in the cryptocurrency market.
What Do I Need Before Selling CSGO Skins for Ether?
Fortunately, due to Ethereum’s rising popularity, using it to conduct transactions (and to sell CSGO items) is very simple and possible for anyone with an Internet connection. All you need if you want to sell skins in exchange for cryptocurrencies is a trusted platform that allows you to do so, and an online wallet to store the funds.
Even if you’ve never dealt with cryptocurrencies, setting up a Digital Wallet is incredibly easy and all it requires is installing the app on your mobile device or laptop/desktop. After that, your wallet should be ready to use right away. This process does not require providing any sort of private information.
Currently, there are many trusted Crypto Wallets on the market that provide their users with the highest level of security. Apps such as MetaMask, Guard and Exodus stand highest in the rankings for 2023. Remember, however, that even with the best and most recognized wallets, there is a risk of losing funds due to the decentralized nature of crypto. Never share your wallet details with anyone, and preferably make sure the app you’re choosing provides users with a money-back guarantee in case of theft.
How to Sell CS GO Skins in Exchange for Ethereum?
Selling CS:GO skins for Ethereum on Skinomat is very easy and works pretty much the same way as selling for any other currency. To start selling your CSGO skins for Ethereum, just follow these simple steps:
- Log in with your Steam account at Skinomat.com
- Go to your inventory or use the Sell Your Skins button
- From the view, options select CSGO to see all your CSGO skins that you can sell for Ethereum.
- Select the CSGO skins that you wish to sell and go to the next step
- Select Ethereum as your payment method
- Enter your Ethereum Wallet Address, or an EOA (Externally Owned Address) and confirm the exchange
- Finalize the transaction and receive cash instantly
After you finalize the transaction, the due Ether (ETH) should appear in your wallet within just a few minutes.
If you have items for other games such as Team Fortress 2, Dota 2 or Rust in your Steam account inventory, you can also sell them on Skinomat for Ethereum. You can also choose to sell your skins for other payout methods such as Paypal Account, Bitcoin, or a simple wire transfer. Skinomat makes skin trading easy, allowing you to get instant cash for any of the items that you want to sell. If you want quick payouts, with the best prices on the market for your in-game items, head over to Skinomat and start making money on your skins today.