Today, many aspects of human life are optimized and simplified, this also applies to the sphere of consumption. So, in order to purchase food, medicines, professional equipment, household utensils and clothes, you just need to find the right online store, pay the seller and receive the order by mail or from a courier. In this case, you only need to have a bank card or virtual money. We are not talking specifically about cryptocurrency, but about virtual cards that contain certain amount of money on their accounts. They can also be spent and cashed out, and even sent to consumers abroad, this is their main advantage – mobility. WestStein online service experts talked about how to get an electronic wallet, what it is for and in what situations it can be used.
How to create an electronic wallet?
Before you understand how to create an electronic wallet, you should understand the very device of such a resource. So, with the spread of e-commerce to service financial transactions, consumers began to use electronic money, and e-wallets were created to store them.
An e-wallet is dedicated memory software designed to store and use electronic money.
Their purpose lies in the name itself, they work in the virtual space and serve those areas of commerce where the use of direct bank payments is inappropriate, inaccessible or too difficult.
The best electronic wallet from our company has a significant advantage, since each account holder receives a virtual and real “plastic” – a WestStein prepaid card. Thanks to this, customers can deposit cash into their account through a cash desk at a bank, ATM or by transfer from another card. At the same time, you maintain your anonymity and significantly protect your own finances – a free online account is issued without opening a personal bank account and is independent of it.
To open an account, you should fill out a small and easy registration form on our website, and immediately after it, you can replenish the account and pay with electronic money on the network.
What e-money necessary for?
Each case is individual. So, if you need an e-wallet to pay for a purchase in an online store that does not accept a bank card, you will have to create a specific wallet.
The best e-Wallet services can be those that have the widest use, the largest list of ways to withdraw money and replenish the wallet. In fact, all of them are used for:
- Paying for online purchases. This option is convenient because you do not have to additionally enter card details, just link the wallet.
- Currency exchange. There are multi-currency e-Wallets that allow you to convert finances at a favorable rate and without unnecessary paper work.
- Storing online earnings. Many freelancers who receive transfers from their clients have wallets, as it is inconvenient to withdraw small amounts to a bank account, due to the presence of certain limits on the minimum withdrawal amount and fixed commissions.
- Paying for purchases abroad. Such systems are convenient for travel enthusiasts, as they provide the opportunity to pay in various institutions.
- Maintaining anonymity. A transaction through an electronic wallet does not contain information that allows to identify the person. Such data can only be obtained from the system itself if the user has passed verification.
Advantages and disadvantages of an e-Wallet
Electronic wallets, the types and functionality of which were mentioned in this article, greatly simplify the implementation of financial transactions for consumers and, to a large extent, satisfy all their needs.
The key distinguishing feature and advantage of electronic money from payment cards is that it is possible to open an e-wallet and replenish it quickly and without visiting financial institutions. This makes it possible to transfer funds between electronic wallets in a short time, as well as pay for goods and services.
Although they are much less geographically widespread than payment cards, they still make it easier to create contacts between a representative of goods / services and a consumer. In addition, they do not have geographical boundaries.
If we talk about risks, then the resources themselves do not bring difficulties. It should be understood that such resources are used exclusively from the request that has arisen, where the use of other financial systems is irrational or simply impossible. We recommend spending a bit of your personal time and register your own wallet and start using it today with a WestStein prepaid card (virtual and real).