Neteller Now Accepting Bitcoin Deposits

The barrier between Bitcoin and ready cash got a little lower with the announcement that Neteller, a prestigious internet money transfer service with tremendous popularity in the online gambling and Forex communities, would accept Bitcoin payments with absolutely no transaction fees. This development marks a great step forward in the world of cryptocurrency and a major new way to use Neteller's already diverse services. Neteller's stated decision to begin using Bitcoins without transaction fees presents an enormous convenience for the alt coin community as well as a major coup for the team that set this up.

Though the licensed online sports betting sites that accept Bitcoins at this time are few, the vast majority of them do accept Neteller. Neteller is a pioneer in the industry, and still considered to be the standard by which online payment solutions for online gambling are measured. Neteller provides the avenue by which International players can fund their online gambling accounts using Bitcoin. Unrestricted transfer between Bitcoin and accounts at Neteller create diverse opportunities for people who enjoy online gambling. Reliable estimates indicate that as many as 90 percent of all online gambling sites utilize Neteller in some capacity. This means that the gaming capability of Bitcoin has been multiplied many times over.

Naturally Bitcoins and Neteller also have tremendous applications for those who wish to transfer money without incurring large fees, especially overseas. Neteller is popular with foreign currency exchange communities, so any funds placed in Neteller may be readily transitioned into almost any local currency.

Neteller also utilizes a system of prepaid MasterCards that, when combined with Bitcoin, make an extremely powerful spending tool. With a 0 percent fee on the point of sales, it is possible to transfer Bitcoin holdings into real-world purchases more quickly than ever before. Although Bitcoins are incredibly easy to use for international money transfers, actually spending the Bitcoin has always been a practical problem. The ability to move Bitcoins through Neteller to real-world cash with almost no fees or economic friction is possibly the smoothest transition between the cryptocurrency and traditional currency yet devised. It will even be possible to withdraw Bitcoin directly from ATMs by using Neteller as a bridge. In such a circumstance, Neteller would charge a modest service fee.

There has even been speculation that this could someday facilitate American use of international gaming sites. No plans to incorporate other cryptocurrencies such as Litecoin, Namecoin or Dogcoin have yet been announced, but the extreme portability of such alt coins makes trivial the difficulty of transferring funds from other cryptocurrencies to bitcoin and then to Neteller.

Unfortunately, at this time direct Bitcoin deposits into a Neteller account are banned in the United States. Substantial effort and attention is being poured into this issue, and many parties hope for an equitable resolution at some point in the near future. These and other country-specific service issues are being addressed by staff members and negotiators at Neteller. A more uniform level of international service may well result at some point in the near future. Internet currency technologies and arrangements are, as yet, still under construction. However, this news points the way to the easier cash transfers of tomorrow.