What’s New in Bingo Payment Options?

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Are you looking out for the latest payment methods to keep you safe? We’re looking forward to seeing the following bingo payment options on the way for our favourite sites.

E-Wallets

Safecharge

This eWallet may remind you of PayPal. However, it includes a couple of special features that influence how you pay. For merchants, Safecharge is better as they can customise their offering.

For players, this payment method is a simple eWallet. It acts as a middle man, which means you don’t need to worry about anyone else seeing your payment method.

Zimpler

This eWallet method comes with a bright and friendly app. It provides a user-friendly experience we think is easier to use than PayPal. The downside is that it is not widely accepted on lots of bingo sites yet. We hope this might change in future.

Cryptocurrencies

There are lots of these, with Bitcoin being the most popular. A cryptocurrency is a digital currency that is kept in a separate account. It is made up of blockchain – a long string of numbers that confirm that money belongs to you. It is purchased in an exchange, or you can earn it in a couple of different ways.

This kind of currency is popular at online casinos. We hope Bitcoin bingo becomes more popular soon as well. Within the casino market, there are hybrid sites that accept both, which is how we think it would be integrated into our favourite bingo sites.

What is a Bitcoin wallet?

You must have a separate digital wallet to store Bitcoin in. This holds the long, complex chains that make up the currency. This wallet is constantly sharing information with the larger network, so we always know where all the chains are.

The rise in cryptocurrency popularity

The UK Gambling Commission seems to be on board with Bitcoin becoming more acceptable for gambling use. They’ve added it to their list of acceptable payment methods, which already features PayPal and paysafecard. They tend to add popular payment methods quickly, acting as a seal of approval for players.

This is a surprise move though, as Bitcoin is seen as volatile by some players. As the UKGC move to allow players to use this currency, they may assist in catapulting it to greater success.

CoinsPaid – a new crypto payment processing option

This new crypto payment option has been created with SoftSwiss, a big name in the online casino world. The new payment option is therefore available at all casinos using the SoftSwiss platform.

CoinsPaid provides players with easy crypto processing services and a wallet to keep their currency in. People are talking of it as a simple way to use cryptocurrencies for payment to a favourite online casino. It seems to be a less daunting way to use virtual currencies – something that does not apply to other methods.

If you spot a casino that uses CoinsPaid, you can rely on being able to use several big cryptocurrencies there. The platform accepts Bitcoin, but it also accepts over 50 other virtual currencies. These include:

  • Dash
  • ZCash
  • Manero
  • Ethereum
  • Litecoin
  • Tether

It has several advantages players are going to like too, such as:

  • Very low fees, oftentimes zero – meaning you deposit more cash and withdraw more winnings
  • Quick processing – no more waiting for days to get your money
  • Great security – your funds are safely held thanks to the secure methods in action with the platform

Cryptocurrency movement in Malta

The Maltese government are strategizing how to enforce and police virtual currencies as well. This is a big step as the country is one of the main licensors for many gambling sites. It could have a knock-on effect on sites that are licensed in the UK.

Many UK bingo sites could be affected, as a licence from Malta allows them to offer games in the UK. They could pick up on this strategy and may even be offered incentives for following it. Their Prime Minister is very focused on cryptocurrencies, believing this is a way to boost their economy and lead the tech market.

Integration with existing eWallets

Finally, we are also seeing virtual currencies being adopted by existing eWallet services such as Neteller. Depositing into a Bitcoin Neteller account makes the whole prospect less scary for players. It should become more accessible instead of being daunting to use.

We think we shall see more of this practice in future, as there is always stiff competition among eWallet services. If Neteller adds a new option for users that proves popular, other eWallet providers are going to follow suit. Anything they can do to stand out from the crowd and provide the best product for their users. It makes sense.

Summary

Things never stay the same in the world of bingo. That includes bingo payment methods too. These are the ones that are breaking out so far. Hopefully, we’ll see more in future, too.

Casino sites seem to be the early adopters of this tech, with bingo sites following on later. We’ll keep you updated with the latest info we find.

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