Payment Methods and Online Poker — What To Choose?

Although many players nowadays first play online poker and then consider taking up live tournaments, there are some who go in the opposite direction. In that case, they might find it difficult to get accustomed to the online environment, especially if they are not really technologically savvy.

One of the first problems that many online poker players encounter is the type of payment method they need to choose for making a deposit.

Deposits need to be made if you want to play poker on the web so that you can play cash games and buy your seats for online tournaments. But different poker platforms offer different payment methods.

Let’s check out some of the most popular ones nowadays and their pros and cons.

Credit and Debit Cards

Cards are probably the most convenient way at the moment to pay anything on the web. All you have to do is insert your card number and security code, as well as the expiration date. Finally, you need to determine how much you want to deposit.

This type of payment method is instant, and fees are pretty low, meaning it’s the most practical way to make payments. In fact, the majority of poker players use cards for this purpose. Yet, they are definitely not the only available option.

E-wallets

E-wallets stands for electronic wallets, and they are online platforms that store your money. The good thing about them is that they can store various currencies, and are also fast and reliable.

Sometimes, they are even more convenient for making online payments, as the steps you need to take to proceed with a transaction are fewer compared to credit cards.

These can come in handy if you usually use an e-wallet. However, if you don’t, you will have to set up an account and fund it using your bank or some other payment method.

Apart from being super-fast, e-wallets have state-of-the-art security, especially the popular ones such as PayPal, meaning your funds will remain safe on the web.

Bank Transfer

Bank transfers are usually slow, and fees are rather high. Compared to the previous two options, this one may seem a bit outdated, yet some people still prefer using it, as banks provide maximum possible protection and security.

Therefore, if you don’t mind waiting a bit and paying high fees, you can take this one into account as well.

Cryptocurrencies

Cryptocurrencies’ popularity is rapidly growing, and some online poker platforms make it available for poker players to make a deposit and withdraw money using digital currencies — Bitcoin, to be precise.

Bitcoin is the next big thing in the world of payments and finance in general, and it’s super-efficient as a payment method due to the cutting-edge underlying technology that makes it virtually impenetrable by cyberattacks.

However, you have to be careful with cryptocurrencies as they are still highly volatile, meaning their value changes almost every second.

Not all online poker rooms offer this payment method, though, so you will have to opt for the ones that offer if you want to use it.

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