With 100 million active accounts in 190 markets, PayPal is regarded as a frontrunner in electronic wallet services around the world.
PayPal uses encryption software to facilitate financial transactions between computers. Therefore, anyone with a valid email address can use the service to:
- Purchase or sell online goods.
- Make or receive donations.
- Exchange cash with others.
Funds can be sent to any email address holder whether or not they have a PayPal account, but they can only access the funds through a PayPal account linked to that email address.
As you would with a pre-paid account, you first have to fund your PayPal account using a credit card or bank transfer. To regulate your spending and keep track of your winnings you can even open a separate PayPal account linked to the bank card used specifically for your online gambling activities.