Making a payment in an online casino is not a problem: almost every casino site offers its members dozens of different banking options. The problem is to find the “safest” of them. Choosing the wrong payment method may put your personal information at risk. However, a strict approach to security will make the payment process more difficult and complex than necessary. Therefore, you need to maintain a certain balance between ease of use and safety. The preferred deposit method should be practical and easy but also extremely safe.
So, which payment methods provide both of these? Let’s try to answer this question by looking at the most commonly used payment options in online casinos.
No matter what type of service or product you’re buying, bank transfers are probably one of the safest methods you can use. The receiver and sender information is clearly available, and it is possible to track every stage of the transfer. Moreover, if you experience a problem, you will have written evidence that proves the whole process.
However, bank transfers are the perfect example of the “strict security approach” we mentioned above: they are mostly slow, ineffective and expensive. A transfer may take weeks to complete if both parties are in different countries. Processing fees for an international transfer can be as high as EUR 50. They are also impractical to use – no transfer can be completed by pressing a few keys.
Transfers on the blockchain and in digital currencies are unrivalled in security and privacy. Receiver and sender information is encrypted, and transfers cannot be tracked by anyone. Processing fees are very low, and the transaction time is almost instantaneous. Since the banking infrastructure is not used, no one can tell or track how much you have transferred on the blockchain.
In general, cryptocurrencies are safe, fast, and practical. Vulkan Vegas casino online is one of the few sites that support such digital currencies. However, their practicality is conditional on your technical knowledge. So, if you are not familiar with blockchain technology, this method will not be so easy to use.
Credit cards can be the easiest banking method to use. In just a few seconds, you can send money anywhere in the world and purchase an online service. Processing time is almost instantaneous, and transfer fees are very low. In fact, you won’t even notice that there is often a transfer fee.
However, when it comes to being safe, credit cards are most likely to have the most security risk. Authentication is always a problem, and any person who knows your card information can use it to make a transaction. If you enter your card information directly into the website and do not complete the payment through a third party, you are at a serious security risk. In addition, some card vendors (e.g. MasterCard) cannot be used for casino payments in countries where gambling is prohibited.
E-wallets can be an excellent example of the balance between security and ease of use. They are very practical to use and at least as easy as credit cards: you can complete all payments within seconds. And you won’t have to compromise on security to do that. You do not need to share your credit card information or IBAN number to make a transaction. An email address and password are all you need. Moreover, since the payment will be completed through the e-wallet site, the online casino will not even be able to see this information.
To summarize, if you are not familiar with cryptocurrencies, e-wallets are the safest payment method you can use in online casinos. However, if you know how blockchain technology works, we recommend using cryptocurrencies: they also provide privacy in addition to security.