All you need to know about E-wallets

September 2, 2019 Posted in News, Payments by No Comments

When you go to play at online casinos, one of the biggest choices you need to make is how you're going to put in your deposits. This is important because it's one of the biggest steps you'll make to get started and get your welcome bonus, for example. Here's some information about e-wallets as they related to online casinos.

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What Is an E-wallet?

The biggest e-wallet that you've probably heard of is PayPal. It's a way for players to pay for thins quickly and easily online. It essentially allows you to send and receive funds to one central location so that they are easily usable and then can go wherever the recipient wants them to go, typically towards bank accounts or wherever else.

How Do E-wallets Work

E-wallets often work by first, having a person sign up on their website. Then, the person would verify their email address and finally start connecting bank accounts, credit cards, and other sources to the wallet. This often involves a verification process while the e-wallet site makes sure that the sources are legit, often by sending a penny into the account and then withdrawing it again in order to verify everything.

After this has been done, the wallet should be active, and the person can then use it to send funds from their sources into the online casino. After this has been done, the welcome bonus should be active and ready to go. It's that quick and that simple!

Benefits to E-wallets

E-wallets are filled full of benefits compared to other options. When it comes to the most common sourcing options, namely credit cards, if they are handed out to people on the Internet, they can be abused and charged constantly even though the person didn't want them to be. Then, it will be necessary to go into a grueling argument with the credit card company. E-wallets, instead, have the advantage of having security options that help to simplify and prevent this from being a problem. They also don't affect credit scores.

Additionally, funds can be thrown in or taken out quickly and easily. It's not necessary for people to type number after number into a form over and over again, for example. Instead, it's a simple matter of just logging in and directing where the funds should go. E-wallets also allow for a significant amount of versatility and anonymity.

For example, they can allow for alternate sources of funding that banks may not. For example, banks often don't take crypto options like Bitcoin, but many e-wallets do. It's worth exploring the different e-wallet options out there, like Skrill, since PayPal isn't the only one you can use and others have different advantages, such as that added security.

It also helps to not have payments to online casinos printed out in your name on your statement, if that's something that a participant wants to avoid.

Getting Started

E-wallets are going to be a good option for deposits since you can get your deposit going so quick. You'll want to do this in order to get your sign-up bonus, which is something that a lot of online casinos will give you just for starting up. Usually, this just means you have to deposit some money into your account, and then when you do, you'll get a bunch of free stuff. This includes free spins, matching funds to whatever you deposited, and/or many other possibilities. E-wallets are a good choice because you can get the funds in there so quickly.