Digital wallets, also known as electronic wallets, e-wallets, or mobile wallets are a tool that allows users to safely store digital versions of payment methods. They are basically software applications that serve as an electronic version of a physical wallet. This online payment tool can hold credit and debit cards, gift cards, cryptocurrency, boarding passes, event tickets, passwords and coupons. E-wallets are extremely convenient since customers can use them on the go with their smartphones, or even smartwatches.
Digital wallets or e-wallets are particularly popular with many online casino players. These payment methods offer many advantages compared to other options on the market. There is a wide variety of them, and each provides insanely fast transaction times for deposits and withdrawals. The most popular options at online casinos are Skrill, Neteller, PayPal, MuchBetter, and ecoPayz, however, there are many others to choose from.
E-Wallets at Online Casinos
All of the advantages of digital wallets have made this payment option especially convenient for online casinos and their players. Transactions via these methods are usually processed much faster than other payment methods. On some sites, bank transfers can take up to 72 hours to process, while e-wallet transactions are processed instantly.
Another great thing about e-wallets is their fees. They usually require a lower fee than the traditional payment options. For example, PayPal charges around 5% per transaction, while transactions via credit card can cost players anything over 8% per transaction. These wallets also support different currencies, which makes them really handy for online casinos operating in different markets.
Unlike other casino payment options, e-wallets work both ways. Players can use them for deposits, as well as withdrawals. That is one of the main reasons you will find many e-wallet options at any online casino you like to frequent.
Top 5 E-Wallets at Online Casinos
Obviously, e-wallets are used for handling your funds, so it is important to choose a safe and reliable option. Besides talking about the advantages digital wallets provide for online gambling, we took the time to gather some of the best e-wallet options you will find at all the best online casinos. Below, you will find the best and most popular options among players.
This e-wallet is available in more than 130 countries around the world. Skrill offers players the option of handling both fiat and cryptocurrencies. In addition, this online payment method is completely safe, thanks to the “Payment Protection” function and anti-fraud mechanisms.
Neteller is another great option for online casino transactions. The site’s interface is available in 11 languages, which allows players from all over the world to use this e-wallet. This payment method also requires minimal fees, which has greatly affected its popularity. Furthermore, you can always contact their customer support service if you ever have any questions.
This e-wallet offers simple registration and high-security standards. Like Neteller, it also comes with a customer support team, ready to provide all the information that you might need. This digital wallet fully protects casino players’ personal data while ensuring the confidentiality of money transfers. Instadebit website uses a unique 128-bit encryption technology, which guarantees that your funds are in safe hands.
This electronic wallet works in many countries, as well. It is also completely safe for online casino players. Users mostly prefer this online payment method because of the low commissions. WebMoney is used for instant deposits in many different currencies, including cryptocurrencies, as well. The registration process is quite simple, you will set up your wallet in a matter of minutes. To ensure safety, players need to go through a verification process, such as providing a phone number and personal data.
The main advantage of this digital wallet is the ability to replenish your account at an online casino instantly. Additionally, the site ensures the complete security of your transfers through round-the-clock monitoring. This method is especially popular with players since it does not require monthly fees for PayPal services. Any deposits and withdrawals in online casinos are used with minimal commissions. However, if you happen to run into a problem, they also provide support services on their website.
Why Should You Use E-Wallets
The era of bank transfers in online casinos is gradually becoming a thing of the past. Today, many advanced players prefer to use e-wallets to deposit and withdraw their winnings. They are safe, convenient, simple to use, and require minimal fees. In addition, customers can use them for other purposes as well, not only for online gambling.