Although online security technology is advancing, digital fraud is still a menace to the world. In 2022, over 1.2 million people were victims of data theft. Half of them lost their data through credit card-related scams.
In light of that information, it’s in your best interest to prioritize security when choosing an online payment method for online casinos. To help you out, we’ve prepared a list of some of the best online casino deposit choices in 2014. Take a closer look.
Electronic Checks
Electronic checks are the modern versions of paper checks. They take money out of your checking account and debit it into a recipient’s bank account electronically.
Electronic checks are fast, safe, and reliable. How safe are they? Unlike paper checks, you must have money in your bank account for an eCheck to work. This means an eCheck can’t bounce. It also can’t be altered, which reduces fraud.
Another way eChecks offers security is through authentication. You must approve every transaction. Then there’s a timestamp associated with every payment. Speaking of which, transactions done electronically are encrypted, which adds another layer of security.
Now, if you’re like many people, you have used checks to complete payments in the past. But paper checks are notoriously slow. E-checks are faster and more convenient. Also, you can’t misplace an eCheck.
If you’re a casino fan, an eCheck online casino can help you play your favorite games with peace of mind. However, find a reputable website to ensure you benefit from bonuses, fast payouts, and reliable customer service.
Credit/Debit Cards
Yes, cards are the most common sources of monetary fraud. One of the reasons is that cards are much more popular than other means of payment. Another explanation is that most credit card frauds occur due to mistakes made by card owners.
If you use your card to pay for online casinos while taking steps to protect you against fraud, there’s little risk of losing your data or money. This is especially true if you pay with Visa or MasterCard, the most popular cards in the world.
Visa and MasterCard protect you in more or less the same ways. First, they have secure infrastructures meant to keep your data secure. Secondly, they authenticate each payment and stamp it for easy tracking.
Each Visa and MasterCard card is unique and encrypted using highly secure technologies. And in case you ever get hacked, these two companies offer zero liability protection. They don’t charge you for purchases made after you’ve reported a card theft.
Bank Payments
Wire transfers are similar to electronic checks in that they involve banks. Where a bank payment is involved, you can be certain the transaction will be safe. Banks verify every tiny detail before authorizing a payment to ensure it’s entirely safe.
While banks provide excellent safety, they process transactions slowly. You can always use a wire transfer when withdrawing your profits from a casino. But don’t opt for this payment method for deposits.
A better option is to use an electronic check or card for deposits. Choose a credit card where possible. Debit cards are less safe in that a hack could lead to a total loss of money in your bank accounts. With a credit card, you lose only the money credited to you by your credit card company.
Mobile Wallets
Mobile wallets like PayPal and Apple are becoming extremely popular among online casino players. For a comprehensive guide on choosing and using these wallets effectively in online casinos, Passagen can offer valuable insights and tips.
That being said, mobile wallets are not created equal. Some use standard security measures like SSL encryption and Two-Factor authentication. Others go a step further by providing chargebacks and other advanced security tips.
Below are some of the safest e-wallets and an explanation of how they keep you secure:
- PayPal
- Google Pay
- Apple Pay
- Skrill
- Trustly
PayPal is one of the most popular e-wallets in the world. It keeps you secure in several ways. First, it encrypts your data. Secondly, it gives you tools to protect yourself further from fraudsters.
For example, PayPal has a feature called OneTouch. If you enable it, PayPal keeps your data away from online casinos. This reduces the number of companies with access to your financial data.
Apple Pay and Google Pay use similar security measures. Beyond encrypting your data and insuring customers’ money, these two e-wallets arm you with ways to keep your payment account safe. For example, they enable screen locks, biometrics, and two-factor authentication.
Bitcoin/Crypto
Bitcoin’s popularity has grown tremendously in the past few years. Crypto’s proponents praise it for its incredible security capabilities, fast transactions, and low fees.
How secure is crypto? Bitcoin was founded on a decentralized ledger of data called Blockchain. The blockchain keeps every transaction secure albeit transparently. You can view any payment made through the blockchain, but you can’t alter it.
While crypto stays securely on the blockchain, you receive private encrypted keys you can use for transactions. You must store your keys privately in a crypto wallet to avoid losing your hard-earned money.
Beyond keeping your crypto addresses safe, you also need to learn about its volatility. Some cryptocurrencies can gain in value by 100% in a few hours. But they could also lose their worth in the same amount of time. Due to this, learn the best cryptocurrencies to buy if you don’t want to deal with crypto’s volatility.
Voucher Cards
Voucher cards aren’t as popular as cards and digital wallets. But they’re equally safe. Think about it. When you buy a voucher card, all you need is to key in the card’s numbers at a casino site. And then the money is debited into your account.
Voucher cards don’t store your private information, meaning you can’t lose your financial data while using this payment method. Unfortunately, you can’t deposit a lot of money using a voucher card.
Most casinos have a small maximum deposit limit using voucher cards. If you’re a high roller, you’ll need a different payment provider for casino transactions.
