Not surprisingly, e-wallets and crypto are the fastest ways to withdraw any winnings from an online casino. They are both by far quicker than cards and bank transfers. However, is one of these two actually faster than the other? We delve into the pros and cons of both, to see which is potentially the best withdrawal option for you.
We have been testing both products at all the major casinos for some time now, often side by side, and have a full rundown of what we found. The answer comes next.
E-Wallet vs Crypto – Head-to-Head Comparison
| Factor | E-Wallet (Skrill/Neteller) | Crypto (BTC/LTC/USDT) |
|---|---|---|
| Avg payout speed | 3–60 minutes | 3–30 minutes |
| Fastest recorded | 3 minutes (Skrill) | 2 minutes (LTC) |
| Setup difficulty | Easy (5 min) | Moderate (15–30 min) |
| KYC required on method | Yes (Skrill/Neteller require ID) | No (wallet is anonymous) |
| Casino-side fees | Free | Free |
| Transfer-out fees | 1.45%–2% to bank | $0.01–$5 network fee |
| Price volatility | None (fiat currency) | Yes (unless using USDT) |
| Casino availability | 6 of 7 tested | 6 of 7 tested |
| Privacy | Moderate | High |
Speed: Crypto Wins – But Only Just
Cryptocurrency was only slightly faster than e-wallets. We managed to receive 1 LTC sent from Rooster Bet in a total time of 2 minutes. Meanwhile, we received 50 EUR sent to Skrill in a total time of 3 minutes.
Bitcoins are somewhat slower (10–30 minutes for a block to be created) and are no quicker than Skrill at most online casinos. If speed is the sole determining factor, Litecoins or USDT on TRC-20 will be faster, but there's no real-world advantage in the context of most online casinos, and using Skrill is a generally easier option.
The difference is much greater at slower-paying casinos. Some e-wallet withdrawals take up to an hour during peak hours; however, crypto is always under 30 minutes as it omits the whole middle-man process.
At an instant payout casino, you should be able to instantly deposit and withdraw using all methods – we mean both e-wallets and cryptocurrencies. The actual timeframe for payout is not all that important. It's really more about which method you prefer to use as well as any associated transaction fees. Choosing between payment options is always a trade-off between a faster or slower processing time and each respective cost and privacy terms. So here are a few of the common banking methods for instant payout casino deposits and withdrawals along with the pros and cons of each.
Ease of Use: E-Wallets Win Easily
Creating a Skrill or Neteller account takes 5 minutes: email, ID verification & bank account/card connection. Making a deposit and withdraw is done in the same fashion as any other online payment method. Simply input the amount, confirm the transaction and it is done.
Crypto has a bit more work to get started. For buying crypto, you'll need to choose a wallet – hardware, software or through an exchange. It's also good to have an understanding of wallet addresses, the different blockchain networks (e.g. ERC-20 for USDT vs TRC-20) and how to deal with private keys. Input a single character incorrectly and all your crypto is lost and unrecoverable.
For the less technical football trader, I believe that using an e-wallet for funding your account is generally the best way to go. The difference in speed isn't as significant, and it's also far easier to understand what you need to do and how to do it.
Fees: Crypto Is Cheaper Long-Term
Both free on the casino side – no instant payout casino we tested charges withdrawal fees. The difference is in what happens after you receive the funds:
- Skrill takes a 1.45% charge when you send the money to your bank. So sending $1,000 away will cost you $14.50.
- Neteller: charges 2% to transfer to bank. A $1,000 withdrawal costs $20.
- LTC Litecoin: network fee $0.01–$0.05 Send to an exchange and then to your bank and expect fees around $1–$5.
- Bitcoin: network fees vary ($1–$10 depending on congestion).
- USDT: TRC-20 network fee is roughly $1.
Crypto is vastly cheaper for regular withdrawals. We did a test with a value of $500 (GBP) for Litecoin over 10 withdrawals. The total amount of fees that would be charged by Skrill is $72.50 while the total fees of Litecoin would be around $0.50.
? Tip: If you use Skrill, always keep the winnings in your Skrill account, and do not transfer them to your bank account after each withdrawal. You can then spend them directly in the online shops, or deposit them again in your preferred casino and so avoid the extra bank charge for transferring money from your bank account.
Privacy: Crypto Is More Anonymous
E-wallets have full KYC – Skrill and Neteller both require you to upload your government ID and proof of address, and they are compliant with all EU/UK financial regulations. All gambling transactions are identified with your real name and may be reported to your bank.
Cryptocurrency provides much greater privacy. You can withdraw crypto from an exchange to a self-custody wallet (NOT an exchange account) without ever having to identify yourself, which you cannot do if you leave your money on an exchange. Exchanges will attempt to compel identification if you attempt to withdraw your crypto to another account, but if you withdraw to a wallet (an offline cold storage wallet) instead of another exchange account, you can do so without identifying yourself. blockchain transactions are also pseudo-anonymous, in the sense that they are publicly visible, but the real names of parties to a transaction are not disclosed: instead, each party's identity is encrypted within the associated cryptowallet.
If you want to keep your gambling business discreet, it's better to use crypto. This is one of the many reasons why crypto is sought after in the no-KYC casinos, which tend to carry out less identification verification. Check out our guide on the crypto instant payout casino if you want to learn more about this topic.
Volatility: E-Wallets Are Safer for Balance
When you cash out $500 to Skrill, you still have $500. When you cash out $500 in Bitcoin, you now have Bitcoin and we all know that Bitcoin can fluctuate by 5-10% in a single day. So in this scenario, if the Bitcoin drops by 8% overnight, your $500 cash out is now only worth $460.
Stablecoins are pairs of cryptocurrency that are designed to hold a value that is stable to that of the US dollar. A popular example is USDT or USDC which doesn't really change in value much. Crypto withdrawals can be pretty quick and cost-effective and by cashing out in USDT you have the best of both worlds in the sense that you are still taking advantage of fast transactions and low fees, while at the same time keeping the massive loss caused by downturns associated with more unstable cryptocurrencies such as Bitcoin and Ethereum. As stated, a good number of our casino list accept USDT.
Buy stablecoin. Unless you want exposure to BTC/ETH do not buy actual crypto.
E-Wallet vs Crypto – Which Should You Choose?
Here is our recommendation:
- Choose an e-wallet (Skrill/Neteller) if: you prefer a simple setup process you withdraw less than $1,000 per month, as the fees on the withdrawals are more reasonable you want to trade in fiat currency you do not want extra privacy features or any advanced security protocols, and are comfortable with the basic level of encryption provided.
- Choose crypto (LTC/USDT) if: You prefer the fastest, lowest cost withdrawals possible You withdraw your funds frequently or in larger amounts You prefer to withdraw your winnings in an anonymous manner You are already well versed in crypto and its underlying technology.
- Many casino players deposit via Skrill due to the ease of the process, and withdraw in crypto in order to get their winnings quicker. All our casino sites allow different deposit and withdrawal methods.
Our Verdict: Both Are Excellent – Crypto Edges Ahead
Both e-wallets and crypto deliver fast casino payouts. At the fastest withdrawal casinos you can get e-wallet or crypto payouts in less than 10 minutes. Crypto is generally faster than e-wallets, as well as cheaper and more private. E-wallets are easier to get started with and do not carry the risk of price volatility.
For most players Skrill is likely to be the preferred method as it is quick, easy to use and widely available. For players wanting to maximise any advantages available Litecoin or USDT is currently the best of a bad bunch of choices.
Deposit methods that take only a few minutes to deposit via are still a matter of choice, but it's not advisable to choose card and bank transfers in those cases where time is of the essence. Check our recommended instant payout casinos, as we have thoroughly reviewed each option listed.
