So you’re keen to gamble online but you don’t want to – or can’t – use a credit card, or you’d like to play with cryptocurrency. No problemo! As one of the leading online and crypto casinos in the world, BitStarz is here to guide you through the tech jungle and help you make the right choice for your particular needs.

In this article, we’ll discuss digital wallet options that will have you playing at your favorite online casino in no time!

What’s a digital wallet and why do you need one?

Using a credit card to play at an online casino is super convenient, we admit, but not all casinos accept this form of payment and getting your bank to not shout “fraud” each time you try to load a card can be a full-time job in itself.

The other hassle is that your local currency might not be supported, so you’ll have to convert your stake, and depending on how you do that, it can get pricey.

Behold then, the wonders of the digital or electronic wallet!

A digital wallet does what it says on the box; it’s an app or browser-based online service that lets you safely store money, convert it to other currencies, transfer between accounts, and also store your bank cards. Furthermore, e-wallets let you make payments to individuals or businesses anywhere in the world, oftentimes instantaneously.

The same, but different

Both digital and crypto wallets can be used to transfer and receive funds, and many crypto wallets also allow users to convert crypto from one form to another. This is the same as with a fiat digital wallet where you make a deposit in Dollars for example, and then convert the amount to Euro.

The difference though is that with crypto, it’s cheaper to swap funds and you have far more control over these funds. In addition, cryptocurrencies are often decentralized, which means there’s no reliance on a bank and they also don’t get to poke their noses into what you do and how you do it, which makes your online gambling an anonymous event.

You can buy items using your digital wallet but there are fewer businesses that will accept crypto as a form of payment. However, it is possible and the options are growing.

Crypto wallets are just an extension of the digital ones as of course, all crypto is digital, and your precious tokens need to be stored somewhere safe. Oh, and cryptocurrencies rely on digital wallets to check your balances.

Alrighty then, but which digital wallet is the best?

At BitStarz, you can deposit using any of the below digital wallets. Do remember to check that your particular bank supports your favorite option before signing up and going through the whole verification rigmarole!

Skrill

This digital wallet kicked off in 2001. Since then, its presence has spread to 120 countries and Skrill offers a whopping 40 currencies to choose from, or convert to. You can use either cash, credit card, or email transactions to make a payment and it also supports crypto buying and selling.

When it comes to security, Skrill uses in-house and external tools to monitor every payment, analyze account behavior, patterns, and so on. Login account, personal details, and all monetary transactions are secured using SSL (Secure Layer Socket) protocols, via 128-bit encryption certified by VeriSign.

One of the interesting and unique selling points about Skrill is that you can withdraw money at certain ATMs in certain countries. For all fees, go to Skrill’s website and enter your local country and currency to check.

When it comes to transferring times, sending money via Skrill can take between 3-5 business days, while withdrawals take 1-5 business days.

Neteller

Another very well-established e-wallet is Neteller, which sprang into existence back in the dark ages of 1999! You can deposit money via bank transfers and rapid transfers, card deposits (credit or debit cards, paysafecard), or cash.

Neteller works with some 28 currencies and also supports crypto buying and selling. In terms of keeping your money safe, Neteller uses military-grade encryption and all of your information is stored in a secure data center.

Neteller offers a loyalty program that allows you to redeem your points for rewards and gifts. To check out their fees, go to the Neteller’s website.

Transfer times for credit card deposits are instant, while EFTs take 4-5 business days. Money credited to your account is also instant.

ecoPayz

Now we come to ecoPayz, which is the middle child in this scenario. Birthed in the year of the virtually nonexistent Y2K calamity (2000), you can use credit or debit cards, local deposit options, as well as international bank transfers to make payments.

ecoPayz lets you transact across 45 different currencies and you can even buy Bitcoin with it (but only that cryptocurrency).

All transactions are encrypted using SSL (Secure Sockets Layer) protocol or TLS (Transport Layer Security). Servers that hold private information are also physically separated from other hardware in a restricted, highly secure area.

To check out fees for your territory, go to ecoPayz’s website. Transfers take 3 business days to process a withdrawal request, and up to 5 business days for funds to reach your account.

But what if you only want to play with crypto or do a bit more with it?

If you intend to use crypto exclusively, here are some of the best-rated options available.

Binance Wallet

Binance supports more than 500 cryptocurrencies and virtual tokens. It has an exchange baked right in, which means you can trade or exchange your crypto instantly, which is important if you’re a long-term or daily trader, reacting to the market.

Security is provided in the form of two-factor authentication and universal two-factor authentication. In addition, they keep the majority of their crypto in cold storage devices. There’s even more to it, but the upshot is that Binance is super safe.

One standout feature of Binance is that they take a portion of the fees and dedicate this to insurance, so there’s a good chance you could be reimbursed in the case of theft!

On the downside, Binance might be deemed a little too complex for beginners. They’re also not known for stunning customer support, but that is unfortunately true for most digital wallet providers.

Coinbase

Coinbase is known as the leading crypto exchange in the US. As it offers more than just a wallet to store your funds in, you’ll find a progressive trading platform, custodial accounts for institutions, cryptocurrency investing, and more.

Coinbase started off allowing Bitcoin only, but thankfully this has grown to include more than 25 different cryptos. It’s known as one of the easiest ways to get into crypto investing, but while the hype says you can be signed up and trading within minutes, we found that the reality was somewhat different.

Verification has been problematic for many potential users and with very limited support, the experience can be quite frustrating. But then again, verification can be iffy with other crypto wallet providers too. Another downside is that you’ll experience higher fees unless you move across to Coinbase Pro. The last, and rather worrying negative is that users don’t have control over their wallet keys – these are stored in a wallet that Coinbase has control over, which goes against the ethos of crypto and decentralization.

In terms of security, Coinbase uses 2-step verification along with biometric fingerprint logins and even insurance in case someone manages to hack your account. Additionally, they store 98% of user funds in cold storage.

Kraken Wallet

Like Binance, Kraken is better known as an exchange so it has that extra benefit. However, it does offer a rather good wallet feature, too. When it comes to security, Kraken focuses on asset storage as much as making sure your trading ventures are protected.

Kraken wallet offers two-factor authentication and encrypts all personal info. Kraken also keeps 95% of user funds in cold storage.

Where Kraken suffers in comparison with Binance and Exodus, is that it only supports 50 cryptos but really, that should be plenty for most people. Also, its wallet has limited functionality which shouldn’t be a problem for newbies but professionals might want to consider other options rather.

And that, as they say, is a wrap!

At BitStarz, we’ve partnered up with the very best digital and crypto wallet solutions so we know you’ll find something that works for you. Whether you like to play with fiat currency or if you’ve made the transition to crypto, we’ve got you covered!

And as always, we wish you the very best of luck as you dream big and win bigger!