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What is a payment option?
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For most newcomers to the gaming world, one of the most frequently asked questions is “How do I deposit and withdraw funds?”. Well, this is much easier than you might think. The process of making a deposit is pretty much the same as the process of buying some goods on any other websites. In order to make a deposit, you will have to use one of the offered payment options, which vary depending on banking policy of the casino you are playing at, or on your location.
In a nutshell, payment methods are the available options for depositing real cash and withdrawing the winnings from an online casino. There are different types of methods: credit cards, debit cards, eWallets, prepaid cards, bank transfers, Bitcoin wallets, and some others. Each of these types has its own features, advantages, and disadvantages.
Credit/debit cards are the only payment method that can be used both on the internet and in real life. That’s probably the main reason why they are so popular among casino players. You can go to a shop, buy some food there, then come back home, open a website, and order something from there with the same credit/debit card.
Not surprisingly, MasterCard and Visa are the most popular brands among credit/debit cards. They are available in most online casinos, but some casinos may not accept them. Or they accept only one of them, due to legal limitations. What’s more, you’ll typically be charged fees while depositing or withdrawing with these brands.
Unlike credit and debit cards, eWallets can be used only on the internet (that’s why they are called electronic wallets). There are dozens of different brands when it comes to eWallets, but the most popular among them are PayPal, Skrill, and Neteller. Moneybookers casinos (that’s how Skrill was called several years ago) are by far the most widespread ones, while PayPal is supported only by those casinos which are regulated under certain jurisdictions. The big reason for their popularity among players is a high transaction speed. In most cases, your money will be transferred to your casino account as soon as you complete the depositing procedure. Speaking of the withdrawals, you will also get your winnings instantly (after your withdrawal request has been processed by the casino).
Deposits and withdrawals using cryptocurrency
Nowadays, Bitcoin wallets are becoming more and more popular. No wonder why so many casinos accept Bitcoin as a payment method. BTC transactions are known for their complete anonymity, which means nobody can know what you are doing with your Bitcoins. Many BTC casinos do not even require your personal details when you are creating an account. You just need to think of your nickname and password. Most BTC transactions are instant, and in rare cases, they take up to several hours. As a rule, BTC-friendly casinos do not impose any limits on your deposits and withdrawals, which is also a great plus. The only disadvantage of this payment method is that not all players are ready to invest in BTC, as its value is rather high and is used to change from time to time.
If you don’t want to divulge your personal or banking info, prepaid cards are good for you. The term “prepaid card” is somewhat self-explanatory - it’s a virtual card or voucher that was already paid for. In other words, you can buy a prepaid card with a certain amount of money on it using your credit card or other banking options, and in so doing, any of your personal details are not transferred to this prepaid card.
What about your safety and security?
All the above-mentioned payment options are completely safe and secure. Everything here depends on the casino you choose. You should pay great attention to the casino licensing info and other security measures, in order to not get stuck in a mousetrap. May luck be with you!
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