Bitcoin vs. NETELLER

Online casino players looking for alternative payment methods to use are often doubting whether to choose Bitcoin or Neteller, as these two are some of the most popular solutions used across the online gambling industry. The two are quite different, but they share a lot of values, which makes the decision-making process for a player a bit of a difficult task. So, if you, too, are unsure whether to use one or the other, stay with us to learn more about the two solutions separately, to make your decision more easily. Why choose Bitcoin or Neteller as your online casino payment method?

About Bitcoin and Neteller

As introduced, Bitcoin and Neteller are two alternative payment solutions to traditional banking methods, and even though fundamentally different, they offer some shared values. The former is a digital currency, while the latter a global eWallet that can also process cryptocurrencies. You can use them both regardless of your country of residence since there's rarely a country that does not make use of their services. Sure, some countries have banned cryptocurrencies, but unless you're playing from such a country, you can rest assured that both of these alternative solutions would be at your disposal. You'd want to consider using one of them since they are both extremely popular methods across the online gambling industry. Let’s look at them separately and then see how to use them across online casinos.

Bitcoin, as you probably know if you’re considering using it, is the world’s first digital currency that appeared and changed online banking as we knew it for good. When the concept behind it was first premiered, people were left speechless, not knowing whether they can believe in it or whether it will persevere for years to come. Surprise, surprise – it did!

When in 2008, a group of people or a person calling themselves Satoshi Nakamoto first launched the digital currency, it was outrageous, unheard of. People were sceptical, not sure as to how it would function and whether it could really do what it promised, decentralize banking for good. The most unbelievable part was the statement that Bitcoins will never exist in a physical form, and the currency will always remain completely digital, never to be touched with hands. People were really shocked about this, and some remain uncertain about it to this day.

But Bitcoin has gone a long way. Today, some countries have even embraced it as a legal tender, like El Salvador, Gibraltar and Malta, even though its history was rather turbulent. Considering it is based on blockchain technology, all transactions made by coin owners are recorded in the ledger, but the solution still functions on a peer-to-peer principle. Therefore, it manages to still have its decentralized nature, but promise coin owners the security they need to know where their coins go and come from. No authority is overseeing them, at least as of yet, so users can still keep their anonymity and transact online safely and securely.

But what is Bitcoin? It is a digital currency, that has no physical representation, which can be purchased, mined or exchanged/traded across exchange platforms or among friends/family. It is incredibly useful because transactions with it are done within minutes, and for a really low cost, compared to other alternative solutions to traditional banking methods. However, you need to keep in mind that its value constantly fluctuates, based on the market. Yet, today, Bitcoin is still at the top of the list of digital currencies, even though dozens have appeared after it, which is used across many industries, and by people on an everyday basis. That's why, it should come as no surprise, that it is an option across all major online casinos.

Neteller is, as we said, an eWallet, offering an internet funds transfer service. It was launched back in 1999 and is owned and operated by one of the biggest financial companies, Paysafe Group PLC, just like Paysafecard and Skrill. Using it, you can transfer, add and withdraw funds via one single account to and from anywhere across the world. Previously, when it was first launched, it arrived with some hefty fees, but the company behind it improved its services and offering for the better, and today, all you need to do is pay for some basic transfer fees and you’ll be able to use the solution for all kinds of purchases and payments. In fact, whether you’ll need to pay a fee or not would depend on the method you’re using to fund your account and cash out money from it, as you will soon learn.

The company is based in the Isle of Man, but it has offices in China, England, Canada and Costa Rica. As such, it complies with the regulatory financial rules and laws of these countries and can provide you with completely safe and secure alternative banking. But these are not the only countries that offer its services. In fact, Neteller is basically available all across the globe, with the exception of around 50 countries and territories. Therefore, you can rest assured that you’ll be able to use it, regardless of where you’re from.

Being such a convenient solution, naturally, Neteller has found its way into the online gambling industry. There’s rarely a leading online casino site that doesn’t offer it on the accept payment methods list. Therefore, stay with us to learn how to get started with it and use it for safe and fast deposits and withdrawals.

Getting Started with the Two Solutions

If you’ve ever used a cryptocurrency or an eWallet, you’d know what to do with Bitcoin and Neteller. But if you haven’t, check out the steps you need to make.

To get started with Bitcoin, you would first need to create a wallet where you'll keep your future coins, send and receive BTCs or purchase some if you will. You should know that there are plenty of wallet types you can choose to use, such as paper, online, hardware, but the one that is mostly used by online casino players, due to the efficiency and convenience, is the eWallet. So, choose one wallet provider and create your wallet account with it. As soon as you provide the required details and your account is ready, you’ll receive a public and a private key, two addresses which will be your passwords and addresses when transacting with your coins. Keep them safe.

Next, you would need to visit an exchange platform like Binance or Coinbase, to purchase some coins. Sure, you can also mine for coins, but that’s the older, much more time-consuming and expensive way to get started with Bitcoin. You can also have some coins sent by a friend. Nevertheless, buying your own coins would be the simplest and most convenient thing to do. So, create an account with one of the exchange platforms and using a credit debit card, other cryptocurrencies, or eWallets, purchase your coins. As soon as your coins are ready, you can start using them across online casinos.

You would need to visit Neteller’s official website to create an account with it, disclosing your date of birth, name, gender, address, email address and the currency you’d like to be the default one when using your eWallet. Accept the Terms of Use and your account will be ready. Then, you’d need to verify your identity, providing an ID document, and with that, you’ll get full access to its services, contrary to unverified users. Soon, you will get your Secure ID, a 6-digit code, which you’ll need to use as a two-factor authentication verification.

Next, you’d need to fund your eWallet address. You can use plenty of payment methods to do it, including Bitcoin, but also Rapid Transfer, Trustly, Yandex, Neosurf, QIWI, BOKU, and Skrill.

Other options include Eps, POLi, Paysafecard, Euteller, AstroPayCard, Przelewy 24, iDeal and Giropay, among others. Each arrives with its fees and limits, so inform yourself better on all of them to choose the right method to go with. As soon as your account is ready, you can start using it across online casinos for instant deposits.

Using Bitcoin and Neteller Across Online Casinos

We mentioned that both Bitcoin and Neteller are extremely popular across online casinos, but when you see the number of casinos that accept them, you’ll be mind-blown. Bitcoin is accepted across around 700 casinos, while Neteller, believe it or not, across more than 1050 casinos! Therefore, the first thing you’d need to do is explore all these options to try and find the most suited casino for you to join.

To make a deposit with Bitcoin, you would need to go through the following steps:

1. Visit the casino’s Banking/Cashier/Deposits page.
2. From the list of accepted methods, click on Bitcoin’s logo.
3. Log into your crypto wallet and specify how much you’d like to deposit.
4. Copy the casino’s address from the designated field and enter it on your crypto wallet, where indicated.
5. Double-check whether the address and the transaction info are in order, and confirm the transfer.
6. Within minutes, the deposit will arrive on your casino balance.

As you could see, we emphasized the fact that you need to double-check the transaction details and the address. That’s because transactions with Bitcoin, and any other crypto for that matter, are irreversible. So, one wrong letter or digit when entering the address, and your coins are lost forever.

The same goes with withdrawals with Bitcoin. After you go through a similar procedure to request a payout, where you’ll need to enter your crypto wallet’s address in the designated field, double or triple-check your address if you ever want to see your winnings arriving. As soon as the casino sends them, the coins should instantly arrive on your crypto wallet, and if they don’t, it means something went wrong or you wrote the wrong alphanumerical sequence.

To fund your online casino balance with Neteller, do the following:

1. Go to the casino’s Cashier/Deposits/Banking page and look for Neteller’s logo.
2. Click or tap on it and in the pop-up, log into your account using your credentials, your Account ID and the 6-digit Secure ID number.
3. Specify how much you’d like to deposit and confirm the transaction.
4. In a matter of seconds, your deposit will arrive on your balance.

Withdrawals with Neteller are as easy and as fast. As soon as you request the cashout, following the same procedure, and the casino approves it, Neteller will make sure the money arrives on your account as quickly as possible, in no later than three working days.

Advantages and Disadvantages

It is not that hard to separate the good from the bad things these two payment methods come with. Let's start with the downsides, as these are fewer so that we can conclude this article with the perks you'll be getting should you choose to use either Bitcoin or Neteller as your payment method across online casinos.

To start with, Bitcoin is a digital currency whose value continues fluctuating and is forbidden in some countries. Transactions with it are subject to a small fee, and these transactions are irreversible. These are the things you need to be careful about when using it. Neteller also comes with fees, which depend on the methods you’ll be using when funding your account, and is restricted in around 50 countries and territories. While deposits with it are instant, withdrawals may take up to three business days.

Now, the good part. Both Bitcoin and Neteller are global payment methods, available across literally hundreds of online casinos. Their popularity across the online gambling industry is unrivalled, and players choose to use one of them over other methods. The two are available for both deposits and withdrawals, and that’s very important for online casino players. Regardless of where you’re from, you can rest assured that using either, you’ll experience seamless online banking and online gambling time.