Best of the Week
Most Popular
1. Climate Change Mass Extinction - Birds, Bees and Bugs: Going Going Gone - Richard_Mills
2.A Purrrfect Gold Price Setup! - Peter_Degraaf
3.Who Finances America's Borrowing? Recession Indicator for Independent Thinkers Part 2 - F_F_Wiley
4.America’s One-sided Domestic Financial War - Raymond_Matison
5.Gold Price Summer Doldrums - Zeal_LLC
6.Two Key Events Will Unleash Gold - Jim_Willie_CB
7.Billionaire Schools Teacher in NAFTA Trade Talks - Richard_Mills
8.Get Out Of Crypto Cannabis Bubble Before It Pops and Move Into Bargain Basement Miners - Jeb_Handwerger
9.Stock Market Could Pullback for 1-2 weeks, But Medium Term Bullish - Troy_Bombardia
10.G7 Chaos, Central Banks and US Fed Will Drive Stock Prices This Week - Chris_Vermeulen
Last 7 days
How Crazy It Is to Short Gold with RSI Close to 30 - 16th Jul 18
Markets Pay Attention Moment - China’s Bubble Economy Ripe for Bursting - 16th Jul 18
Stock Market Uptrend Continues, But... - 16th Jul 18
Emerging Markets Could Be Starting A Relief Rally - 16th Jul 18
(Only) a Near-term Stock Market Top? - 16th Jul 18
Trump Fee-Fi-Foe-Fum Declares European Union America's Enemy! - 16th Jul 18
US Stocks Set For Further Advances As Q2 Earnings Start - 15th Jul 18
Stock Market vs. Gold, Long-term Treasury Yields, 10yr-2yr Yield Curve 3 Amigo's Update - 15th Jul 18
China vs the US - The Road to War - 14th Jul 18
Uncle Sam’s Debt-Money System Is Immoral, Tantamount to Theft - 14th Jul 18
Staying in a Caravan - UK Summer Holidays 2018 - Cayton Bay Hoseasons Holiday Park - 14th Jul 18
Gold Stocks Summer Lows - 14th Jul 18
Trump US Trade War With China, Europe Consequences, Implications and Forecasts - 13th Jul 18
Gold Standard Requirements & Currency Crisis - 13th Jul 18
Focus on the Greenback, Will USD Fall Below Euro 1.6? - 13th Jul 18
Stock Market Outlook 2018 - Bullish or Bearish - 13th Jul 18
Rising Inflation is Not Bearish for Stocks - 13th Jul 18
Bitcoin Picture Less Than Pretty - 13th Jul 18
How International Observers Undervalue the Chinese Bond Market - 13th Jul 18
Stocks Trying to Break Higher Again, Will They? - 12th Jul 18
The Rise and Fall of Global Trade – Redux - 12th Jul 18
Corporate Earnings Q2 2018 Will Probably be Strong. What This Means for Stocks - 12th Jul 18
Is the Relative Strength in Gold Miners to Gold Price Significant? - 12th Jul 18
Live Cattle Commodity Trading Analysis - 12th Jul 18
Gold’s & Silver’s Reversals’ Reversal - 12th Jul 18
The Value of Bitcoin - 11th Jul 18
America a Nation Built on Lies - 11th Jul 18
China, Asia and Emerging Markets Could Result In Chaos - 11th Jul 18
Bullish Gold Markets in the Big Picture? - 11th Jul 18
A Public Bank for Los Angeles? City Council Puts It to the Voters - 11th Jul 18
Yield Curve Inversion a Remarkably Accurate Warning Indicator For Economic & Market Peril - 11th Jul 18
Argentina Should Scrap the Peso and Dollarize - 11th Jul 18
Can the Stock Market Close Higher For a Record 10th Year in a Row? - 11th Jul 18
Why Life Insurance Is A Must In Financial Planning - 9th Jul 18
Crude Oil Possibly Setting Up For A Big Downside Move - 9th Jul 18
BREAKING: New Tech Just Unlocked A Trillion Barrels Of Oil - 9th Jul 18
How Trade Wars Penalize Asian Currencies - 9th Jul 18
Another Stock Market Drop Next Week? - 9th Jul 18
Are the Stock Market Bulls Starting to Run? - 9th Jul 18

Market Oracle FREE Newsletter

5 "Tells" that the Stock Markets Are About to Reverse

Why it's Better to Use Bitcoin or PayPal to Fund Your Online Gaming

Personal_Finance / Gambling Jun 28, 2018 - 03:59 PM GMT

By: Submissions

Personal_Finance If you want to play games online, you may encounter microtransactions or real money games you want to play. When disclosing these payment details, you may want to opt for PayPal or Bitcoin instead. We’re here to tell you why you might be better off using an alternative payment method instead of your credit card.

Credit Card Fraud

Although many people think that they are safe while using a credit card online, this isn’t always the case. The annual figure that’s lost to credit card fraud is over £1billion and each year 5.2million people cancel a credit card over fears of fraud. While some of these cards offer an element of fraud protection, there’s still a hassle associated with getting your money back from these.

Around big shopping days, like Cyber Monday, these figures peak and create an opportunity for cyber criminals. With many online systems feeling the strain from increased numbers, the smallest opportunity can lead to a payment information leak. Internally, the government are working to create strategies by which consumers will be protected, but on the whole it seems that consumers don’t have much faith in the government.

So what can consumers do to protect themselves? The answer may lie with alternative payment methods instead.

The Rise of PayPal

Using an alternative payment method often helps the user to mask their identity and also their credit card details. These often work as middle men, which move the funds to the site, without showing the merchant their payment information.

PayPal has become one of the leading payment providers in the world, as they work to make their users more secure. This has led to the number of active PayPal accounts rising to a massive 227million, with 17million merchants using their services too. They’re also taking more revenue than ever, which they accept from merchants.

A hefty majority of these transactions are actually made on gambling sites. Lucky Admiral share some PayPal stats that give an eye opening look into this industry. They’ve found the number of players using this payment method has drastically increased over the years. For these players, the main selling point appears to be trust, as PayPal can act as a seal of approval in this regard.

Many gambling sites have used this payment method to uplift their traffic, as it’s an element that attracts a lot of players to a brand. This can effectively bring in a new traffic source, as this can be a big priority for these players.

Bitcoin in Online Casinos

Bitcoin is also growing in popularity, with more transactions being made with this anonymised cryptocurrency than ever before. This has the impact of creating a marketing opportunity for casino sites that accept this coin, as they can draw in users that wish to deposit with it.

This coin has become a lot more widely accepted on casino brands, as they seek to gain an edge over the competition. As we continue on, we’re likely to see more of these sites coming to the fore, as players want more choice in where they play with this coin. This will mean that we see more places for these coins to be used, as the market will cater for demand.

The anonymity of a cryptocurrency appeals to a lot of players and on top of this, they can also play much more securely. The technology that underpins this cryptocurrency is ultra-secure and is almost invulnerable to hacking. While we can’t say that it 100% fool proof, it is pretty close to it.

With most sites now offering a host of different payment methods, it’s clear to see that there is a demand for it within the market. This has the potential to create a whole new selling point for players, as they look for sites that specifically have the payment method that they choose.

With fraud instances rising almost every day, it’s essential to be able to use a payment method that provides additional protection. In many ways, it seems like the onus to do this is specifically on the player, as they have to take security into their own hands and really protect themselves.

By Troy Reed

Copyright 2018 © Troy Reed - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2018 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules