Neteller Now Accepts Bitcoin Deposits

Saturday 4th April 2015

netellerNeteller, an electronic payment processor belonging to the British company Optimal Payments Plc, is now accepting deposits through bitcoin, which means great news for the bitcoin online gambling world.

Neteller enables consumers from more than 200 countries worldwide to make and receive payments. Consumers can also use their Neteller cards to withdraw funds directly from their Neteller accounts.

Optimal Payments to Acquire Skrill

It may be recalled that a few days back Optimal Payments had announced plans to acquire Skrill, their rival electronic payment processing company, for around €1.1 billion. This acquisition, along with the fact that Neteller now accepts bitcoin deposits, will make the company an industry leader.

Joel Leonoff, the CEO and president of Optimal Payments, said: “The Optimal Payments management team is extremely excited about the future prospects for the company.” Now, Neteller users can deposit bitcoins in their Neteller accounts at a fee of 0 percent. Users can then convert their bitcoins into more than 20 traditional currencies.

Leonoff also said: “We recognize the important role that cryptocurrencies play in the future of payments, and we look forward to working with BitPay as the acceptance rate grows.”

Good News for Online Gamblers

Neteller’s integration of bitcoin has come as a pleasant surprise for the bitcoin gambling world. So far, the company has been hesitating to accept bitcoin deposits. Now that Neteller has integrated bitcoin, users can deposit funds into their Neteller accounts in bitcoins and then withdraw it in their local currencies.

Neteller is extremely popular in the online casino gambling world as it presents an easy, secure, and hassle free method of transferring funds. Almost all online casinos, betting exchanges, and online sportsbooks accept Neteller as a banking option. In fact, Neteller is widely used in countries where banks are hostile towards those who purchase goods and services online. Unfortunately for US players, Neteller is not available in the US market because of unfavorable US online gambling laws. The Neteller website states: “All serviced countries except the United States can deposit with Bitcoin.”

Neteller users can use the bitcoins they have deposited to recharge their Net+ MasterCard. This enables them to withdraw funds from almost all ATMs worldwide that accept MasterCard and make payments at all stores that accept payment through MasterCard.

BitPay Partnership

In order to accept bitcoin deposits, Neteller had to first sign a partnership deal with BitPay. The latter says that this pact shows how “one of the world’s biggest payments networks really demonstrates how far we’ve come in a short span of time.” BitPay further states: “Neteller shares our vision of how bitcoin can revolutionize the way businesses handle transactions, and we’re really looking forward to working with them.” BitPay also states that it will continue working with Neteller “to help further drive mainstream adoption of bitcoin.”

On the downside, the company only allows users to make deposits in bitcoins, not to withdraw in bitcoins. But the latest development makes it easier for casino beginners to gain easy access to bitcoins and make use of them.

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