Online casinos are booming since the start of the pandemic. All the people who previously came in person to enjoy some fun with the aim of earning money, had to adapt to the new normality and began to look for ways to carry out the same activities from the comfort of their homes. Online game rooms began to grow by leaps and bounds and today they remain a more than viable alternative to earn extra money. Now, what methods of payment and collection exist? In this article we will review it
Today, many online gaming sites allow customers to collect their winnings in cryptocurrencies such as Bitcoin, Ethereum, USDT, etc., but before explaining how these platforms are managed, it is necessary to make it clear what cryptocurrencies are and how transactions involving this currency are made.
A cryptocurrency is a decentralized digital asset, that is, it is not backed by any financial institution. Its value is variable and it uses cryptographic methods to secure its economic transactions, which is why it is used as a means of currency exchange.
The growth in the use of online casinos shares an era with the rise of cryptocurrencies, so many game rooms had to adapt to consumer demands.
All online gaming platforms accept this method of money input/output. The speed with which deposits are generated makes it the most chosen option by users when betting. In addition, it is practically impossible for commissions to be charged when using this medium.
This way of paying was one of the first options offered by online casinos. It is a very reliable system and is currently used in any type of monetary transactions over the Internet.
Despite everything, it also has a small disadvantage that perhaps does not exist with other payment methods: For each transaction, PayPal charges a variable commission of between 1.9% and 3.4% + 0.35 EUR to the recipient of the payment. money, something that for bettors ends up being a disadvantage when it comes to cashing out.
Perhaps it is the easiest option, since you only need to have an account with funds and transfer what you require to the online casino. There is no middleman. If you have a balance, the transfer is made without problems, both to pay and to collect.
One of the best known advantages of this method is the simplicity with which payments are made. However, there are also disadvantages, among which the slowness of the transactions stands out, since, sometimes, they can take up to 5 days, although they vary according to the bank.