One of the most popular new ways to pay for products, services or content at the virtual checkout on our favourite websites is to use cryptocurrency, which is facilitated by highly encrypted, end-to-end blockchain technology.
However, I’m based in the United Kingdom, and I’ve found that many of my favourite sites still don’t accept this form of payment, meaning I often have to use my Visa debit card, Apple Pay mobile wallet or PayPal eWallet when paying for things on eCommerce sites or when depositing and withdrawing on my favourite iGaming sites.
With that said, here is a closer look at some of the main factors that I’ve found are inhibiting the uptake of crypto acceptance on websites that I’ve joined to play online fruit machines, blackjack, roulette, and other classic favourites in the real money mode.
Which Factors Have Hindered The Uptake Of Cryptocurrency On Legally Permitted Casino Sites?
My basic research has taught me that the laws and regulatory standards/practices on which payment methods can be used to pay for things on websites vary somewhat from one country to the next. For the most part, the acceptance of cryptocurrency payments is still a grey area.
For example, the official governing body that oversees all land-based and online gambling activities in the UK is the United Kingdom Gambling Commission.
This government-controlled gaming commission/licensing authority/regulatory is well-known for having the industry’s highest standards and imposing the most stringent background checks and vetting process on its licensees before issuing them with licenses.
I recently discovered that the UK government still views cryptocurrencies as unstable and highly volatile, which is why the UKGC has yet to approve this payment method.
In other words, none of the legally permitted UK casino sites currently featured on the Johnslots (www.johnslots.com/en/) website such as Matchbook, Win British Casinos and Mr Vegas, to cite just three examples, are permitted to accept cryptocurrency payments at their virtual checkouts/cashier/banking sections.
With that said, there are no laws preventing UK people like me who are over 18 from joining offshore crypto-accepting sites that operate outside of UK jurisdiction, provided they don’t restrict UK residents from signing up, meaning you can still play your favourite online fruitys on a handful of websites that accept Bitcoin and other cryptocurrencies.
However, I wouldn’t recommend joining any sites that aren’t UK-licensed. I would suggest sticking to UK-licensed sites if this is where you live and using any of the other perfectly secure online payment methods commonly accepted on those sites instead of cryptocurrency.
Over the coming years, many experts and analysts firmly believe that the UK government’s stance towards cryptocurrency will change and that UKGC-licensed sites will one day be allowed to start accepting cryptocurrency.
What Are The Safest Online Deposit And Withdrawal Options For People Living In The Uk?
Although UK players can’t use cryptocurrencies to deposit and withdraw, there are plenty of other secure, reliable, convenient, and user-friendly online payment methods to choose from.
Credit cards, such as Visa and Mastercard, were also banned by the UKGC in April 2020 to protect players deemed ‘at risk’ from spending money they haven’t got.
Instead, most UK-licensed sites today accept a range of well-known debit cards, direct/instant bank transfers, mobile wallets, eWallets, and prepaid voucher cards/gift cards, the latter of which can only be used for deposits. All of these other payment methods can be used for deposits and withdrawals.
From my experience, and I’ve joined countless UK-licensed fruit machine, blackjack, roulette, and poker sites, the most commonly accepted deposit/withdrawal options are the following:
- eWallets (also known as web wallets, digital wallets, or electronic wallets) – PayPal, Skrill, Neteller, Jeton, Payz (formerly ecoPayz), and one or two others
- Direct/instant bank transfers – Trustly and other intermediaries
- Prepaid cards – Paysafecard and AstroPay
- Mobile wallets – Apple Pay and possibly Samsung Pay or Google Pay
You may find that some of the sites you join will accept all of these trusted payment gateways, whereas others may only accept a few of them. I suggest heading to the cashier/banking section to check which payment methods are accepted before signing up anywhere.
Over the years, I have learned that it’s best not to rely on one payment method. Instead, I have several ‘back-up’ payment options topped up and ready to use, just in case my preferred payment method isn’t working for whatever reason or isn’t accepted on any sites I decide to join.
For example, on most sites I have signed up to over the past few years, I deposit using my Visa debit card or my PayPal, Skrill or Neteller eWallet. I have used my Apple Pay wallet on occasion, but PayPal is my preferred way to pay.
It’s one of the world’s most trusted payment processing companies and is the most convenient payment method I’ve found.
Deposits are always instant, withdrawals usually take less than a few hours to be processed, and it’s really easy to use at the checkout. The only thing I mustn’t forget to mention is to gamble sensibly and responsibly and always consider using any safer gambling tools your operator might provide.
Final Thoughts
Although I think it would be beneficial for UK-licensed sites to start accepting cryptocurrencies like Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin, and Tether, to name a few, I can’t see it happening any time soon.
In the meantime, I would rather continue using PayPal, Visa, Skrill, Neteller, or Apple Pay on trusted UK-licensed sites instead of signing up to a non-UK-licensed site that may not be so trustworthy.
