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.