Also known as a digital wallet, an e-wallet is a secure money management platform or app that allows users to make transactions online.
Several companies like Paypal, Skrill, and others also authorize users to have an account and make payments without having to enter their credit card or bank account details every time. You can access them via an internet browser or mobile application and utilize them to book tickets, shop online, etc. Due to the insanely quick processing time and convenience, e-wallets are widely popular among online gamblers.
To get started, you’ll need to choose and register for an e-wallet account. Some of the well-known companies that online casinos support are:
Paypal: One of the most popular e-wallet services in the world, PayPal allows for almost instant transactions at online casinos.
Neteller: It is currently available in 15+ languages and features a mobile platform where you can deal in cryptocurrency. Most online casinos support Neteller in several countries.
Skrill: Skrill comes with a mobile application and payment protection functions to prevent fraudulent activities. It can be used to make transactions in online casinos in 130+ countries.
Ecopayz: With an option to choose between a fixed rate or a percentage, Ecopayz charges a small fee on each transaction. It is one of the oldest providers, with over 20 years of experience.
Webmoney: It has a low transactional fee and supports various currencies, including crypto. It also features two-factor authentication which must be verified every time you make a transaction to keep your money safe.
Learn everything about E-wallets and payment methods in detail.
Setting up an e-wallet account is pretty straightforward. Once you have chosen your provider, you must add your personal information, such as your name, ID, email address, etc. After verifying this information, you can link a bank account or credit card to fund your e-wallet. With that, your wallet is ready to be linked to your online casino.
In order to deposit money:
For withdrawals, visit the cashier and choose the e-wallet you wish to cash out on. Enter the amount and confirm. As soon as the request is processed on the casino’s part, it is credited to your e-wallet. Typically, casinos use automated systems; hence, this process should not take more than a couple of minutes.
Since there are plenty of different e-wallets and online casinos, it is hard to quote numbers. While some e-wallets process payments free of cost, some charge a small transactional fee that can go as high as 5%. Therefore, we recommend that you always check the rates and limits for deposits and withdrawals before signing up on a new site.