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    Innovation in crypto wallets and other popular payment methods

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    A closer look at modern payment methods like crypto wallets and what makes them popular.

    When it comes to online casino gaming, some things are essential to the process. For players, one of the most important factors in any good-quality casino is the payment method. Players also care a lot about the bonuses & promotions and the casino game variety.

    When it comes to payment methods, it’s always a bit more challenging, as anything that may impact your funds is met with a little more scepticism.

    The trends in payment methods

    At the start, modern payment methods like e-wallets and crypto wallets needed to be faster to become available to players. This need has become even more essential with the surge in the popularity of crypto gaming.

    Switching from cash to cashless was difficult, as players needed more convincing than just a new payment option. This is probably why digital casino wallets have taken such a long time to be added as a banking option and still need to be more instinctively used as other traditional payment options.

    When it comes to changing players' minds about the payment methods they use, it requires teamwork, where they are incentivised through the rewards it brings, the convenience of using it, or the accessibility. This is according to Mark Morton, president of sales for Koin. Morton has over thirty years of experience working with software providers like Aristocrat and Konami.

    Innovative payment methods

    Here are a few innovative banking options available to online casino players today.

    Crypto wallets

    Cryptocurrency and crypto wallets, which store cryptocurrency, are next on the list. The most popular wallets include:

    Coinbase

    Coinbase is popular among online gamblers, making buying, selling, and trading cryptocurrencies a breeze. It's safe and easy to use.

    Learn more

    Binance

    Binance is a leading cryptocurrency exchange. It's very beginner-friendly and is widely accepted at many crypto casinos.

    Learn more

    Kraken

    Kraken is often at the head of new technology and innovation. A wide variety of cryptocurrencies can be managed via this trusted wallet.

    Learn more

    While playing with cryptocurrency, you can deposit and withdraw directly from your crypto wallet with your own coins. It's lightning-fast, very safe, and can provide a touch of anonymity.

    E-wallets

    Among the popular, easily accessible payment methods today are e-wallets like:

    PayPal

    PayPal offers a secure digital wallet for safe online transactions.

    Learn more

    Skrill

    Skrill leads in e-wallet services for online gaming.

    Learn more

    Neteller

    Neteller is a popular e-wallet choice in the online gambling industry.

    Learn more

    These forms of payment quickly went from niche to widely accessible on various platforms. Some may even say e-wallets were the push to create the cashless world we’re currently accessing.

    Pay ‘n Play

    There are also options like Trustly, which is part of the Pay N Play system. With this payment system, you don’t need to register with a casino. It allows you to pay, play, and get cash out by the end of the session. As it is directly linked to your bank, there are instant deposits and withdrawals with added security and little associated fees.

    Mobile payments

    We can’t forget the range of mobile payment options like Pay by Phone, Google Pay or Apple Pay. Convenient payment methods that make transactions quicker and more secure for those who prefer mobile gaming.

    Koin – A future trendsetter

    Koin is a digital casino wallet developed in 2021 that allows users to access their funds from anywhere at any time while simultaneously lowering processing charges. It also integrates table and retail management systems. Players can pay using virtual or physical credit cards and fund their wallets via bank transfers or other trusted payment methods.

    According to Morton, going cashless is a chance to deliver funds to the gaming floor and expand to casino venues that have been left untouched. With Koin, paying for your gaming session on the gaming floor, purchasing a meal at the casino restaurant and even buying items from retailers is possible.

    It’s one wallet that allows instant purchases on different levels instead of being kept as a separate funding option solely for online gaming.

    Convenience plays a big role in the process. If you look at online casino gambling, crypto wallets are becoming more popular thanks to their benefits: added security, lower transaction fees, special bonuses, and accessibility. The idea is to have this in the land-based section, too. Morton states the idea is not to follow trends but to set them and redefine the gaming and entertainment landscape.

    To sum up

    If the idea of delving into crypto wallets intrigues you, CasinoWow's team has a wealth of resources to explore. Read the ultimate guide to crypto wallets and crypto casinos to gain invaluable insights. It's your one-stop source for everything you need to understand about crypto wallets.

    Published: April 19, 2024

    Anything incorrect or missing?

    Let us know

    Article by Polly

    CasinoWow Contributor

    Hey guys, my name is Polina but my friends and colleagues call me Polly. I am truly passionate about online casino gaming and exploring the different online gambling experiences. I'm really into diving deep into topics and researching all the details. My aim is to gather the best information and write interesting articles for all the readers at CasinoWow.

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