If you’re considering signing up for an online casino or sportsbook, you will be required to make a deposit in order to win cash. There are lots of ways you can make deposits from bank transfers to cryptocurrency but perhaps the preferred method for most people is via an eWallet.
The following article will detail what exactly an eWallet is, what the benefits of using eWallets are, and which eWallets are most highly recommended.
What is an eWallet?
An eWallet stores your money digitally and allows you to make fast and easy online transactions. They are considered to be one of the most convenient methods of payment online and have a number of benefits. eWallets are thought to be the most popular deposit and withdrawal method for online casino and sportsbook users.
One reason for this is that the online payment provider stores your money securely and allows you to make a payment without the need to enter in bank details. As long as you have enough funds available to you in your eWallet, you are good to go! In certain cases, you can even connect your eWallet directly to your bank account to stop you worrying about insufficient funds.
The popularity of eWallets has grown over the years and nowadays there are many reputable names out there to choose from. They are fast, reliable, and efficient and are an excellent choice of payment method for online casino players and online bettors.
Are eWallets Secure?
As long as you have picked a reliable eWallet, the answer is a resounding ‘yes’. Modern features like encryption will keep your funds and your data safe online so there is n need to worry about theft. Many even consider eWallets to be safer than debit cards.
However, nothing is ever completely free of risk and your data could be intercepted. Here are some of the security features that the top eWallets have in order to prevent things like that from happening to you:
- Passwords – Internet users will be no strangers to passwords. Many eWallets come with additional options to set up two-step verification to keep your money locked behind more than just one password. For those that do not, their passwords are likely to demand certain characters, a minimum length, and the use of digits to make them more secure.
- Encryption – Another word online users are likely to be familiar with is encryption. eWallets use encryption to keep your data hidden from third parties who may want to steal your data. This means that your transactions and personal information are only accessible by your and your eWallet provider.
- QR Code – You can easily link your eWallet to your smartphone meaning you can enable a set of useful features including security ones such as QR codes. Using your smartphone, you can verify your identity to make getting into your eWallet even harder for potential hackers or data thieves.
- eWallet Proxy – One big difference between eWallets and online bank cards is that eWallets can only access the information provided to them. This is also true for funds made available which adds a further layer of security as they do not have access to your banking data network.
The Top eWallets
It is worth noting that not every online casino accepts the use of eWallets (although that is becoming increasingly rarer). Make sure to check in advance if your chosen online casino platform or sportsbook accepts eWallets.
In no particular order the most popular eWallets available to use are:
PayPal – The most-well known eWallet is almost certainly PayPal. This platform has been around for years and is used by millions worldwide. They are safe and reliable and you will be hard-pressed to find an online casino or sportsbook that does not accept PayPal as a valid payment method.
Skrill – This is another very popular name and there are plenty of live casinos that accept Skrill.
Neteller – This eWallet is growing in popularity due to some useful features and is very reliable. Any online casino that accepts Skrill is also likely to accept Neteller.
How to Register for an eWallet
Once you have decided which eWallet is best suited to you, signing up is easy. Each eWallet will, of course, vary a little but the general process is the same. Be prepared to be asked for email verification, a smartphone link, and a debit card link. Other than that, there should be few surprises and you will be good to go.
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