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The Difference between E-wallets and Cryptocurrency


For those bookies that don’t have much experience in the digital world, the different deposit options available for players can be confusing and you may feel a little bit lost about which one is better for your betting site, that is why we put together this quick guide with the main differences, including the pros and cons of e-wallets and cryptocurrency.
These type of digital payment is more like a service and it’s one of the oldest, they became quite popular with the rise of online shopping, thus users were afraid to put their credit card information on shopping sites back then. So the e-wallet service works as an intermediate between buyer and seller, where the buyer funds an account on the e-wallet platform, through credit card or bank wire. The e-wallet platform then makes sure that the transaction between both parts is secure without the exchange of personal financial information.
The e-wallet companies are well-established, which makes players feel more comfortable, even Google has a service called Google Wallet.
The platform is very user-friendly so anyone can fund an account within minutes.
They accept all credit and debit cards.
High commission fees per transactions.
The platform can be risky in case of password theft.
Turning the money on the wallet into real dollars can be annoying and costly.
Their use may be limited to some countries
Unlike the e-wallets, cryptocurrency doesn’t depend on a third party and there is no intermediary between each transaction. As the name indicates this is a type of currency, so you exchange your dollars into bitcoins for example, as you would do it into Euros or other country currency. The use of cryptocurrency is on the rise since is more secure than any other form of digital payment.
Highly secure and verifiable transaction
Can be used worldwide
Low transaction fees
Direct transactions
Transactions can take some time to apply
Often related to illegal activities
You need to learn how to use the system properly
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