Using BankPay Deposit at Online Casinos
Using BankPay Deposit at Online Casinos
Find out how to use BankPay deposit payment method in online casinos. Know some of the best online casinos to make a BankPay deposit.
You can buy cryptocurrency coins easily if you want to wager at online casinos using this form of money. One of the services you can use to buy it is BankPay. You do not have to worry because you can use real money to buy your preferred cryptocurrency. However, the only real money currency you can use here is JPY.
There are various currency converters online that you can use if you do not have JPY. This makes it easy to still use BankPay deposit for your online casino account.
Wagering at online casinos using cryptocurrencies is one of the safest ways for you to play. This is because cryptocurrency is a peer-to-peer digital form of payment. This means that it is cashless and has no physical form you can use to pay for various goods in real life. Additionally, all your transactions are sent directly to the person you want to receive the crypto coin. There is no middle man that handles your money unlike when you use a bank.
Banks often have a central banking system. This means that all transactions go through a thorough process to verify you are the one who requested to move your money. Withdrawal transactions can also take up to 72 hours.
On the other hand, all transactions using cryptocurrency only takes a few seconds or minutes. It is also highly secure because of the strong cryptography enforced in the cryptocurrency system. This is called public-key encryption.
Public Key Encryption
This is the strong cryptography placed in most cryptocurrencies like Bitcoin, Ethereum, and Litecoin. You are given a public and private key you can use to encode and decode your message. This makes it improbable for those who do not have your private key to decrypt the message and get your money.
All the cryptocurrencies are recorded in a permanent and constantly updated system called a blockchain. Each block contains information of all your transactions. The blocks are connected by the strong cryptography to secure the data. Additionally, this means anyone can see all your transactions if they have your private key code.
You get your own private and public key once you have your own crypto wallet. This is an online wallet where you store the data for both your keys. You do not keep your crypto coins in the wallet. This means there is no actual place where you can digitally store your cryptocurrencies. All you have are the crypto wallets that have your private and public keys. These wallets read the data in these keys so you can also see how much cryptocurrency you have.
There are many cryptocurrencies you can buy using the BankPay deposit method. This includes some of the most commonly accepted coins in online casino sites like the following: Ethereum, Bitcoin, Litecoin, and All Sports.
The starting amount you can buy cryptocurrency using the BankPay deposit option is ¥700. There is also a 3.5% service charge for each successful transaction you make. This means you need to make sure how much cryptocurrency you buy before you use the BankPay deposit option.
How BankPay Deposit Works
Making a BankPay deposit is easy. You can follow the steps below to make your deposit and quickly start playing your favourite online casino games:
- Log-in to your online casino account.
- Go to your account wallet.
- Click Deposit/Withdraw option.
- Click buy cryptocurrency.
- Choose the cryptocurrency you want to buy (BTC, ETH, SOC, etc.).
- Once you are done, click JPY currency to pay for the cryptocurrency of your choice.
- Indicate the JPY amount you want to be exchanged into a cryptocurrency.
- Click on Start Trade.
- Make sure your country is set to Japan because payment options differ per country.
- Click the Bank Transfer option.
- Proceed to follow the steps once you log into your bank.
- Return to merchant site once you have reviewed your payment information.
- Your balance will be updated once the transaction goes through.
Best Online Casinos to Use BankPay Deposit
BankPay deposit payment method option is not offered in all online casino sites. This means you have to personally check which casinos you can use this method in. However, here are some of the best online casino sites Betwala has a comprehensive review on that offer this option:
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