Online Casino Payment Methods: Pros and Cons – Novinite.com – Sofia News Agency

A lot has changed in the past few decades, since online casinos were first created. For one, we are able to play a lot more games now than ever. Not just well-known casino games, but some underrated gambling games, and even unique, online casino exclusives.

Another big change is that online casinos are no longer dependent entirely on credit cards. Different payment methods have been implemented by these websites, which has attracted a whole new audience. In this article, we’d like to discuss the pros and cons of some popular payment methods.

Credit Cards

The staple of online casino banking options is the credit card. Back in the 1990s, credit cards were the only choice you had at online casinos. Today, it remains an incredibly popular option. But, the question is, are credit cards a viable choice?

The main advantage of a credit card is that it is widely available. Most people already have a credit card, or even several. On top of that, credit card transactions are quite safe, as the credit card companies do their best to ramp up security. For fans of playing the casino online, credit cards are among the first choice.

The downside of credit cards, however, is that transactions can often take days to process. On top of that, banks may just charge extra fees, which a lot of fans are certainly not interested in. Still, despite these downsides, credit cards remain the most popular choice.

E-Wallets

Digital wallets are a relatively new phenomenon in online banking. These programs allow for the storing and trading of currency, both FIAT and digital. At online casinos, Skril and Neteller are the two most popularly accepted digital wallets.

The big advantage of e-wallets is that they ensure fast and reliable deposits and withdrawals. On top of that, e-wallet operators have done everything in their power to ramp up security, and ensure a safe experience for their users.

The major downside is that withdrawals through e-wallets may come with some pretty hefty fees, that a lot of people aren’t willing to pay. But, those that don’t mind the fees will certainly say that digital wallets are their favorite choice.

Cryptocurrency

Finally, we can’t talk about payment methods in the modern era without bringing up cryptocurrency. Created in 2009, by Satoshi Nakamoto, Bitcoin would become the first cryptocurrency, and to this day, it is still the most successful.

The biggest advantage of gambling using cryptocurrency is that crypto ensures absolute anonymity. Transactions are almost impossible to pin down, so if you are looking for a way to gamble on the DL, crypto is the best bet. Not to mention, crypto ensures fast transactions and low fees.

The downside is the volatility of the assets. Everyone already knows that crypto is one of the most volatile assets in the world. A coin could fluctuate from half its market price, to double, back to half, all in a single day. There are many who would prefer not to deal with that level of stress.