Payeer

Cryptocurrencies have gained immense popularity over the last couple of years, and many players now prefer using digital currencies for depositing at online casinos. However, cryptocurrencies are still a novelty, and their complex nature and high volatility discourage people from switching to them. That’s why so many gamblers prefer traditional fiat currencies. But what if we could make the most of both and offer them together?

It is precisely what Payeer aims to do. This e-wallet supports a wide range of popular cryptocurrencies and fiat currencies. That way, the multi-currency digital wallet allows users to carry out a wide range of transactions online, including deposits and withdrawals at gambling sites. Our experts have recognised the potential of this payment method, which is why they got down to business and conducted a thorough analysis of Payeer. Continue reading to learn how to use it for gambling purposes.

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About Payeer

Payeer is an e-wallet capable of holding both fiat and cryptocurrencies. This electronic payment system was established in 2012 in Tallinn, Estonia, and it is owned and operated by two companies, Payeer OU and Paycorp Limited.

Payeer OU is tasked with conducting services related to cryptocurrency. This Estonian business holds a license FVT000468, and it is regulated by the Estonian Ministry of Economy and Communications.

Paycorp Limited is in charge of services in traditional currencies and holds a license issued by the Vanuatu Financial Services Commission.
The platform allows users to store and exchange cryptocurrency and use it to make online payments. At the same time, it provides multiple ways of funding your wallet.

Payeer can be used for online gambling

Target Markets

As mentioned, Payeer is an e-wallet that lets users use both fiat and digital currencies. It is a versatile payment processor available in over 120 countries around the world.

You can use a wide range of payment options to feed your Payeer account: other e-wallets, bank cards, and various cryptocurrencies. When it comes to its main markets, these are the European Economic Area, Russia, Africa, and Asia.

Payeer Account

According to Payeer, opening a new account takes only a minute. Let’s check if they’re telling the truth.

Visit Payeer’s official site and press the Create Account button to start the registration.

First, enter your email address, and click Create Account to confirm the registration. You will then receive an email containing a 5-digit verification code. Enter the code in the registration form to complete the sign-up. Provided the code is OK, you will see a green check mark, and the Create Account button will become clickable. Press it to continue.

New users will get an account name, secret code, and randomly generated password, which you can change later. The secret code is a vital part of your account, as you can use it to restore access to it. If the required details are OK, the fields will turn green, and you can press the Next button to proceed.

The final phase of your sign-up process will require entering your personal information and country of residence. Once you provided all the required details, press Done to complete the registration process.
After opening the account dashboard, you can download your login credentials (account number, email, password, and secret code) and save them as a .txt file.

Before you can start using Payeer, you must verify your account. This is a standard procedure used by the platform to protect its customers. To initiate the verification process, click on the account number, and press the Go button.

To verify the account, you have to submit a photo of a valid personal document and proof of address. A utility bill or a bank statement will do the job. A Compliance Officer will check the documents you submitted, and if everything checks out, your account will be approved. That’s it; you can start using Payeer to make online casino deposits.

How to Deposit with Payeer?

Before depositing with Payeer, you must join an online casino supporting this payment method. Go to the Cashier page, find Payeer among the list of available options, and select it as your preferred means of payment. Enter the sum you want to deposit and your Payeer account details. Finally, log into the wallet to complete the payment.

How to Withdraw with Payeer?

Cashing out with Payeer works pretty much the same. Go to the Cashier page, and select Payeer as your withdrawal method. Specify the sum you intend to claim, and provide your account details to submit your request.

Transfer Times, Fees, and Security

As an e-wallet, Payeer boasts fast transaction times. Deposits are nearly instant, with funds appearing in your balance a few seconds after you approve the payment.

On the other hand, withdrawals take a bit longer. Your online casino must greenlight the transaction first, and although processing times vary between casinos, e-wallets are typically faster than some other banking options like bank cards. The money will appear in your wallet within a day, although it usually shouldn’t take more than a couple of hours.

Using Payeer is free and includes no maintenance costs. However, internal transfers made in euros, US dollars, and Russian rubles come with a fee of 0.5%. We recommend checking the fee list beforehand. Most casinos don’t charge additional fees, but once again, we advise you to double-check the casino’s policy.

Payeer relies on Vistnet to keep the platform safe from DDoS attacks and uses SSL encryption to maintain overall security. As part of the KYC procedure, profile verification provides an additional layer of protection.

Payeer also offers two-factor authentication, although players have set it up themselves. Receiving a security code costs €0.05 per SMS. To use this option, you must verify your mobile phone number first.