Published by: The Orb
MiFinity is an e-wallet available in more and more Australian online casinos, with which deposits and withdrawals can be made quickly and securely.
In contrast to credit card deposits and other methods, players do not provide personal account information.
Thus, sensitive information does not even get into the internet and cannot be misused by hackers.
While other e-wallets such as Neteller or Skrill are often excluded from the bonus offers of online casinos, it is often quite possible to receive a bonus for deposits with MiFinity.
The winnings paid out to the MiFinity account can be used for online payments or paid out to the current account.
We have taken a closer look at this flexible, secure payment method, which is also becoming increasingly popular among Australian players and would now like to introduce MiFinity to our readers with all its advantages and disadvantages.
How MiFinity Works in the Online Casino
To use the MiFinity e-wallet for online games, users first need an account in the casino in question and, of course, an account with MiFinity. If this is not yet available, it can be easily created during the first deposit process.
Payments with MiFinity can be made via the wallet’s app, which can be downloaded free of charge for all standard mobile devices. The 2-factor authentication makes the payment service even more secure and allows casino customers to deposit and withdraw money without worry. As an alternative to the app, a computer can also be used.
When registering, among other things, an email address must be entered, via which the user then receives a confirmation code.
In addition, for legal reasons, some further personal details are required, which are treated confidentially and are not passed on to the transaction partner during the payment process. The partner only learns the number of the wallet used for the payment. Account data or other sensitive information, on the other hand, does not reach the internet.
To use MiFinity to its full extent, verification is required, just as with the casino account. It is checked whether the customer has entered his data correctly and is authorized to use the service.
Making Bitcoin Payments with MiFinity
Some players want to deposit and withdraw at the online casino with Bitcoins or other cryptocurrencies. However, many casinos do not accept digital currencies so far.
MiFinity is an excellent way to use cryptocurrencies comfortably in such casinos. The wallet supports the BitPay payment service, allowing users to pay indirectly with cryptocurrencies, even if the casino does not accept digital coins.
MiFinity Offers some Advantages over Other Wallets
While many other e-wallet providers only allow users to have one account, MiFinity enables users to create multiple wallets in different currencies and for various purposes. This makes it even easier to keep track of deposits and withdrawals in the online casino.
Clients in online casinos that offer payments with MiFinity can often receive a bonus with this payment method is also a clear advantage over many other e-wallets, where the use of bonuses is sometimes considerably restricted.
Distribution of MiFinity in Online Casinos
So far, payments with MiFinity are not yet possible in many internet casinos. However, this could change soon because more and more players are discovering the numerous advantages of this wallet.
For example, payment with MiFinity is much safer than using credit cards or direct transfers. Also, few other methods can match MiFinity regarding the speed of deposits and withdrawals.
Due to its increasing popularity, it is expected that more online casinos will decide to include MiFinity in their payment portfolio in the future.
Payment Duration and Fees
Whether there are fees for deposits and withdrawals in the online casino and how high they depend on the casino in question. Many online casinos no longer charge any fees for deposits, and withdrawals are also free of charge with more and more providers.
Even if there are no costs for the payment process itself, costs must be considered when using MiFinity. After all, the user must first load funds onto their e-wallet, for which MiFinity charges a fee of 1.8% of the deposited amount.
A fee is also charged for withdrawals to the current account. Therefore, this fee is a flat rate of one dollar and is cheaper than with most other comparable wallets.
Interesting Facts about MiFinity
The payment service provider MiFinity has existed since 2017 and expanded its services in 2019 to include payments for online casinos. This made the e-wallet a good alternative for users of Neteller and Skrill, who can now receive a bonus in fewer and fewer casinos with payments via their previous wallets.
MiFinity holds a license to issue and manage e-money issued by the UK Financial Conduct Authority (FCA). This means that the company is bound by strict regulations and is considered a safe provider by experts. MiFinity is also licensed with the Maltese regulator, which issues licenses for use in the EU.
The company has set its ambitious goal of becoming the leading payment service provider. In addition to online gaming, MiFinity’s portfolio includes the following other areas:
- Online trade
MiFinity is more than just another e-wallet. Deposits and withdrawals in the online casino are not only fast and secure with this wallet, but even indirectly possible with cryptocurrencies.
The payment method is now available in over 170 countries and thus connects people worldwide. Even though reasonable fees are incurred when depositing and withdrawing funds, the use of MiFinity is still recommended.
With their smartphone, casino fans always have the MiFinity app with them and can thus access the credit stored on the wallet at any time. So far, the payment method is only available in relatively few online casinos, but the number of providers where payments with MiFinity are supported is growing fast.
Be among the first players to take advantage of this e-wallet in the online casino!