Crypto is the fastest-growing method for transferring funds to and from online casino accounts but it's not the right solution for some players. If you prefer to deposit money into your casino account and withdraw winnings from your account through a different type of financial service, check out the options offered by Grande Vegas.
Why Crypto?
Casinos like crypto because it's a fast, reliable and safe method for transferring funds to and from the casino. Casino operators remind players that there are some good reasons to use crypto.
- Crypto transfers are generally facilitated more quickly than those using other methods.
- The security protocols for crypto transfers are more stringent than those of other online financial services.
- There's a higher level of anonymity for crypto customers than for customers using other transaction services.
- The fees for crypto transfers are lower than those of other services.
- Currency conversion rates are more favorable for users transferring their cryptocoins into fiat currencies than they are for transfers of one currency to another.
The online casino encourages gamers to use crypto by offering special promotions and valuable slots sign up bonus casino cash to crypto depositors. Yet some players still turn to more traditional online banking options for their gambling transactions.
Why Not Crypto?
While cryptocurrency offers speed and privacy, there are several significant reasons why many users have chosen to use fiat services.
- Crypto can be extremely volatile. If you're using crypto, the value of your bankroll can change drastically between the time you deposit and the time you withdraw. If you win $1,000 on Monday but the price of Bitcoin drops by 20% overnight, by Tuesday your winnings might suddenly be worth only $800. You are essentially gambling twice: once on the game and once on the market.
- Network fees can spike during busy periods, making it more expensive to transfer funds than you may have planned for.
- Consumer protection safety nets are lacking for crypto transactions. There are no chargebacks so you can't dispute a blockchain transaction. Once the money is sent, it's irreversible.
- If you lose your password (the private key to your crypto ewallet), you don't have any recourse. There's no "reset password" or other way to retrieve a lost password. If that seed phrase is lost, your funds are permanently locked in the digital void.
- There's no insurance for crypto that's held in a private wallet. If the platform fails or gets hacked, the money is gone.
- You have no recourse for mistakes. If you paste the wrong string of 64 characters, your money will not be directed to the recipient to whom you wished to send it.
Options
The online casino is committed to ensuring that today's online casino customers have as many options as possible for their real money gaming adventures. While the casino encourages players to consider using crypto for their casino gambling transactions, it provides gamers with multiple options so that each individual can choose the method that suits his or her personal preferences.
At Grande Vegas, you can transfer funds via credit card transactions, ewallets, prepaid cards, etransfer services and courier checks. Compare and contrast your options before making your choice. Some of your Grande Vegas banking options include:
VISA Credit Card
The VISA credit card uses the Visa network to process transactions. Banks communicate with merchants worldwide via the VISA network. It's the world’s largest retail electronic payments network – it's accepted at over 150 million merchant locations across 200+ countries. VISA is favored by many people because it's accepted almost everywhere. Its security and fraud protection protocols are strong thanks to Tokenization and Biometric Passkeys which make theft nearly impossible. You can activate its Purchase Security code so that you'll be reimbursed if a new item is stolen
VISA isn't a choice of everyone. Interest rates on late payments are high and some high-level VISA cards carry high annual fees. It can also lead to a temptation to overspend because it isn't "real" cash leaving your hand.
AstroPay eWallet
The AstroPay ewallet creates a digital account where you can store multiple currencies and manage your balance. You can generate instant virtual cards for online use and accumulate rewards points for every transaction, which you can redeem for gift cards or cashback.
AstroPay users enjoy privacy and anonymity since the source of a payment is Astropay, not your personal bank account or credit card. Deposits are instantaneous and there are no transfer fees between two AstroPay wallets. Security is high, based on bank-grade encryption and two-factor authentication (2FA).
AstroPay isn't suitable for everyone. Some casino customers have decided not to use AstroPay because, while depositing is easy, many merchants do not support withdrawing back to an AstroPay wallet, so users often have to find an alternative way to get their winnings out. Additionally, while the wallet is free, the exchange rate is higher than that of a traditional bank.
Interac eTransfer
Interac e-Transfer is Canada’s primary interbank payment networ. Users can send and receive money using only an email address or mobile phone number. Interac has become a dominant force in business payments and online gaming, thanks to new real-time settlement technology and higher transaction limits. Interac provides users with instant transfers (seconds or minutes) and bank-level security with multi-factor authentication and encryption. It's accepted widely throughout Canada and is supported by every major Canadian bank and credit union. Unlike credit cards, e-Transfer pulls money directly from your balance so you don't spend money that you don't have and don't end up paying the kind of high interest rates associated with credit cards.
While Interac is a great solution for Canadian gamers, there is no communication between Interac and US or European banks so no money can be transferred outside of Canada directly. There are no chargebacks so transactions cannot be reversed under any circumstances. While receiving is free, some banks still charge between $0.50 and $1.50 per send.
Additional non-crypto Grande Vegas banking options include the NeoSurf Prepaid Card, the EZ Wallet ewallet, Courier Check and the Bank Wire service for wire transfers to and from your bank account.
Check your options and find the best way for you to transfer money for your real money gaming adventures!
