Genesis Cryptopay
Posted : admin On 4/1/2022- Cryptopay Ltd has been temporarily registered under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 as a cryptoasset business until 9 July 2021. For the purpose of the Data Protection Act 2018 and GDPR, Cryptopay Ltd is registered with ICO under the number ZA029520.
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Casinos that Accept CryptoPay (via VISA)
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The company behind the payment method, Cryptopay Ltd, is registered in England and Wales. The primary purpose of the service is to offer more extensive Bitcoin payment options to customers in the UK, Europe, Singapore and Russia. This includes the use of Cryptopay as a virtual payment method for online casinos.
To use Cryptopay’s wallet system, the company charges £15 for initial setup, plus £1 a month for continued use. The service makes up for this fee by offering extra features and functionalities to make it useful beyond casinos.
Creating an Account
Creating an account with Cryptopay is quick and easy, but it may be more than casino-goers are used to when it comes to services that are purely payment methods. To set up your own wallet, you will be required to first register for an account, then send in documentation to be verified, before depositing funds into the wallet ready for use.
After this process is fulfilled, you’ll have free access to the app. Once your account is created, you can use your virtual Visa to deposit cash into the casino of your choice, as well as withdraw your winnings. It’s also possible to get a physical debit card.
Get Cryptopay
Cryptopay also supports the conversion of currency, including euros, British pounds and US dollars.
Deposits and Withdrawals
As a Visa-style solution for payment, Cryptopay should be accepted by most online casinos that utilise Visa and debit card payments. The same applies to withdrawing money into your Cryptopay account, which can be converted and withdrawn from your wallet in your own time. Specific fees may apply, but the simplicity of Cryptopay makes the additional costs of using a cryptocurrency wallet worthwhile.
Advantages
- Security: Cryptopay utilises BitGo MultiSig technology and two-factor authentication to ensure the safety of your money. It’s worth noting that thorough documentation is required for a signup, further improving security.
- Practicality: As a Visa-style option, Cryptopay is incredibly practical for those who like to use payment methods and wallets for more than just gambling. It can be used for general purchases too.
- Availability: Due to the direct debit nature of Cryptopay, it is freely accessible when it comes to depositing and withdrawing within online casinos.
Disadvantages
- Certain country restrictions: Cryptopay isn’t available globally, which means it isn’t a comprehensive solution for all online casinos. However, more and more crypto wallets are becoming the first port of call for online gamblers.
- Negative reviews: Several problems and negative reviews have been attributed to Cryptopay since its introduction, including an instance of hacking as well as someone being frozen out of their account following a significant withdrawal from a casino.
- Fees and costs: Unlike free payment methods, Cryptopay charges a fee to sign up as well for continuous use. This is on top of conversion fees and other costs, which means for occasional punters this option may be more costly than it’s worth.
Security
Cryptopay prides itself on a secure and safe system, which falls in line with many of the standards for cryptocurrency. The fact that the company is big on ensuring full documentation is also essential, making sure that no fraudulent accounts can be created. The use of a dedicated security system and two-factor authentication ensures long-term safety for users. It also keeps any withdrawals safe if you don’t choose to move them to another bank account or service.
Availability
Cryptopay Device Manager
Cryptopay is currently available as a crypto wallet in the UK, Europe, Singapore and Russia. Outside of those regions the service is not available, making it unsuitable for punters based in any other countries.
Support
There is a comprehensive virtual helpdesk with information on getting started with Cryptopay. It also offers 24/7 support to its customers through email, as well as live chat features on the website.
Company
Cryptopay Ltd was first registered in England and Wales in 2013 by Dmitry Guntashov. Since then, the company has appeared to stay with the same ownership. Otherwise, its website gives away very little. While team members are listed, there are no further details of awards or industry recognition that the service has received.
FAQ
Which online casinos accept Cryptopay?
Use the list of Cryptopay casinos to see all online casinos that accept Cryptopay payments.