Online casino deposits are something that players often encounter. Open the deposit page of your favorite website and you will see several payment options, including credit cards (VISA or MasterCard), e-Wallets (Skrill, Neteller, etc.) and, the not always offered but increasingly popular, Bitcoins. How should you choose the right option? Although there are a number of pros and cons for each of them, let’s look at the transaction security of the most popular payment methods, being that when it comes to money, there is always someone who wants to steal it. Better safe than sorry.
Making deposits with credit cards (VISA or MasterCard):
Credit cards are the most traditional way to make a deposit. They are widely accepted almost everywhere in the world. It is natural that most online casinos accept credit cards as a deposit method.
You can feel safe using VISA or MasterCard for deposit payments. The main problem with these is the risk of your card data being exposed as a result of a hacker attack. Most reputable casinos process payments over 128-bit SSL connections minimizing the possible risk of hacker attacks.
VISA and MasterCard have a long history of making transactions secure. Any unauthorized transaction made using such a credit card can be subject to a chargeback.
Casinos and transaction services do their best to prevent your card details from being exposed, but there is always a chance that unauthorized third parties could gain access to these details using, for example, key loggers or other methods. If this happens you could lose your money.
Deposits with e-Wallets (Skrill, Neteller, etc.):
E-wallets are not so popular for everyday purchases, but they are still one of the most popular methods for making deposits/withdrawals of money at online casinos. Players use e-Wallets because they receive the money instantly after the transaction has been approved by the Casino.
Just like VISA and MasterCard, e-Wallet services have strong anti-fraud security systems. But you should not forget that your account is only as secure as your password. To learn more about ways to protect your account, see our article referencing the top security tips.
Unfortunately, your e-Wallet account can also be hacked. If this happens, contact your e-Wallet customer service immediately, because every second counts. It is not very difficult to recover your funds while they remain in the system, but once the intruders have removed them from this one, it is very unlikely that you will receive any refunds.
E-Wallets are another secure deposit option. Players who use e-wallets for gambling purposes report that they feel safer because they can keep a limited amount of money in their balance, and so if their account is hacked, they don’t lose everything.
There are not many Casinos that accept Bitcoin in the online gambling market at the moment , but this situation is changing rapidly. Bitcoin has a number of advantages over e-Wallets and credit cards in terms of security. Some players are really concerned about their anonymity when playing at online casinos. They don’t want to give out their details or scan important documents and for them Bitcoins are the perfect option. Bitcoin is a currency, not a payment system and so it works like real money. When you go to a store and pay with cash, no one checks your identity and so no one does either when you make a deposit with Bitcoins.
You send your money directly to the casino and the transaction is recorded on the blockchain.
Each transaction has its own unique identifier, a private key, and cannot be hacked.
As you can see, Bitcoin is a more secure payment method compared to e-wallets and credit cards. If you are not sure how to use Bitcoins for gambling, you can always consult our guide.