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A Beginner’s Guide to Using Digital Wallets

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Over the last decade, the number of transactions processed online has increased significantly. People go online to purchase goods, pay for services or find entertainment options and just like with everything else, most things have a price tag. In order to pay for a product or a service online, consumers can use a variety of payment methods.

Many use their credit or debit card, some use bank transfers, while others find using e-wallets the simplest way to pay or to receive money online. Every online payment method is simple to use, but there are still many people that are uncertain about actually starting to pay online. Luckily, the process of getting started is pretty straight forward, so it normally takes just a few minutes for a newcomer to get comfortable with it.


PayPal and Other Popular e-Wallets

E-Wallets have been around for more than 20 years, but their use became mainstream after 2010. During these two decades, many of them were rebranded, many saw their operation discontinued, and others found an important role in international commerce.

The most popular among them is probably PayPal. The reason for that is because its financiers never stop investing in new technologies. By doing that, they are both ensuring the longevity of the service as well as improving its safety and functionality. PayPal is, of course, not the only service that constantly develops, but it is the one where these developments are most visible. 

Connecting your e-Wallet to an online cashier or service is a process that only takes a couple of minutes. For those who enjoy casino games, for example, it is incredibly easy to deposit and play PayPal slots. All they need to do is map their e-Wallet to their casino account and afterwards, they can both deposit funds and withdraw potential winnings.

This is not something that is exclusive to PayPal. Online consumers can do exactly the same by using Skrill, EcoPayz, Neteller or any other e-Wallet. The only thing you need to ensure before starting to use an e-Wallet is that your country of residence allows for the use of the service. 

Safely Transferring Money around the World

Using e-Wallets to transfer money from one place to another is considered safe, because of the encryption technology that protects every transaction. There is, of course, an ongoing debate about the actual safety of all payment systems, but for the average user, using an e-Wallet is more than safe. Although there is no harm in being vigilant, you should not be afraid to send money from your e-Wallet to another e-Wallet or a business. 

E-Wallets are more or less prepaid-style accounts where you can upload funds from a bank account or receive funds for a service you have provided. If you, for whatever reason, feel uncomfortable with keeping your funds in your e-Wallet account, then you can easily transfer it to your bank account.

On the other hand, if you are comfortable with keeping your money in your e-Wallet account, then you can use it exactly like you would use the funds you have in your bank account. Some e-Wallet services even issue debit cards, which you can use instead of your bank card.

These e-Wallet cards can be used to buy goods at online or retail stores, and they can be used at ATMs for withdrawals or even at automatic vending machines. 

 

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