In recent years, there’s been a rise of different available payment methods to use when shopping and gambling online, such as cryptocurrencies in the cryptocoin market (i.e. Bitcoin, Litecoin, and Ethereum) and e-wallet solutions (i.e. PayPal). When transferring money online, people want to pay as little-to-no fees and get the funds to the recipient as safely and as quick as possible. Any other method that does not meet these demands is viewed as non-negotiable.
E-wallets are one of the safest options for making an online deposit or withdrawal. Having been around for decades, it has generated a mass following with millions of people using the service worldwide. Along with credit/debits cards, PayPal can virtually be found in every online casino, the reason being is its simplicity, and the instant deposits and secure transactions that it grants its users. Popular casinos that offer this service include BGO, PowerSpins, and Rolla.
Cryptocoin Market: Currencies
Cryptocurrencies is another example which meets all of the previous three demands, in addition to allowing users to send money anonymously to any given location. Alike to other currencies, the value of cryptocurrencies fluctuates (from high-to-low-to-high again), nevertheless it is still viewed as relatively stable and holds a firm price in the market. Many reputable online casinos have started adding cryptocurrencies as one of their deposit and withdrawal choices, such as MansionBet and NetBet, both of whom accept
Cryptocoin Market: Bitcoin
Another main advantage that cryptocurrencies hold over traditional means of online payment is that it’s a decentralized currency, meaning that players who use it do not have to pay taxes or report it in their income tax form. So, you can withdraw (and deposit) as much as you like without having to worry about the government taxing your hard-earned winnings. This is because cryptocurrencies are not regulated by the Government yet.
- Users do not need to repeatedly disclose card or bank details. Simply fund your PayPal account with your Credit/Debit Card or your bank account.
- Instant transfers. Once you send a payment, the recipient will receive it within seconds.
- Creating a PayPal account is free. You also won’t have to pay for any membership nor any annual fees to keep your account active.
- Safely encrypted.
- If you think you have been damaged in a transaction in any way, you can file a dispute within 30 days of the transaction. If you prove your case with PayPal you will be refunded in full.
- PayPal is a private company, meaning they can freeze or close your account at any time and for any reason, they see fit.
- Withdrawing funds to your bank account or Credit/Debit Card can take up to 4 days.
Cryptocoin Market Currency Pros
- Decentralized currency, meaning that it’s not controlled by any government in the world.
- (Bitcoins) Get Bitcoins for free by mining them from your computer.
- Anonymous transactions.
- Available worldwide (no any country limitations).
- (Bitcoin) Transfers for payments are processed very fast across the Blockchain and with very low fees.
Cryptocoin Market Currency Cons
- A volatile currency with a fluctuating price and no guarantees that it will increase or decrease in value.
- Not available as a payment method is all online casinos, meaning you have a narrower selection of online casinos.
It doesn’t really make a difference which of these two payment methods you’ll use when making online payments as both of them will fit your needs. Using a cryptocurrency or e-wallet is the cheapest and fastest way to transfer funds online from one account to another. Your choice only depends on which method best suits you and the advantages it has to offer. Make your choice and start managing your online transactions today.
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