Payment methods

When choosing an online casino, it is always crucial to check whether the platform offers diverse and safe payment options. Why is it so important? Surely you would be keen to ensure your money is 100% safe when you make a deposit and request a payout. Third parties will not be able to access your data and other sensitive information if you choose a secure payment method as it will shield you from fraudulent activities and other security concerns.

Debit cards

Debit cards are the most popular payment method in both online and land-based casinos. Its biggest advantage is an additional level of security when making a payment.

Credit cards

This is the second most popular payment method. A credit card is a payment card frequently used for online purchases. Debit cards are issued to pretty much anyone, whereas credit cards are harder to obtain – a customer needs to apply and then qualify for a credit card.

Prepaid cards

These are virtual currency cards that range in value. Although prepaid cards are not yet that common, they are gradually becoming more popular in individual industries.

Electronic wallets are one of the newest payment methods providing a whole new purchasing experience. This payment method is becoming more and more popular in online casinos.

Both customers and suppliers are required to register on a relevant platform to make e-payments. Once an e-wallet account is set up, the customer can link up their bank account to withdraw and deposit funds online.

A bank transfer is a popular payment option, however, not the safest.

The payment methods mentioned above have been basking in glory for years. However, there are alternative options online, like cryptocurrency. What is it? See below.

Cryptocurrency

Customers who give preference to cryptocurrency pay for goods and services using blockchain-based digital currencies. Why do online casinos use cryptocurrencies? Because there are many advantages, including the following:

• Lower transaction commission fees;
• Anonymity;
  
• Faster transactions;
  
• Allows anyone to send and receive payments anywhere. So instead of physical money that people carry around and exchange in person, cryptocurrency payments exist only as digital records in an online database containing a description of specific transactions;
  

The most popular cryptocurrency today is Bitcoin. Other cryptocurrencies are available, such as Litecoin, Dash, NEO, Titcoin, SafeMoon, DeSo, TRON, Bitcoin cash, and many others.

This process is quick and straightforward, and pretty much the same across the board. Take a look at the step-by-step guide below:

1. Go to your account

First, head to your account to check the balance. Every online platform sets minimum and maximum payout amounts. Confirm your balance meets the criteria. This information can be usually found in “Terms and Conditions”.

2. Request a payout

If you have sufficient funds to withdraw, request a payout by entering a specific amount in a relevant field.

3. Select a payment method

Then choose your preferred payment method. Please bear in mind that in some online casinos you may be required to use the same payment method for both deposits and payouts, so if that is the case, then you will need to withdraw funds using the same method that was selected when you made a deposit to your casino account.

4. Make a transaction

As we have mentioned before, payout processing times can range from a few minutes to even days, depending on your payment method. It can also vary by casino. Some payment types, such as cryptocurrencies and e-wallets, have faster transaction times compared to, for example, credit cards and bank transfers. Additionally, large sums take longer to withdraw.