Using MatchPay at Bovada offers a versatile way to manage gaming funds, but it does come with a small risk that players should be aware of. This guide explores MatchPay’s functions and safety, with practical steps for deposits and withdrawals.
- MatchPay is a peer-to-peer platform that lets you buy and sell credits to deposit and withdraw from Bovada using payment methods like PayPal and CashApp.
- While generally safe, MatchPay does carry some risk of disputes or getting scammed by dishonest users you interact with.
- Depositing to Bovada via MatchPay involves creating an order in your MatchPay account and getting matched to complete the transfer.
- Withdrawing from Bovada via MatchPay works similarly, where you list an offer and confirm upon receipt of funds.
- Pros of MatchPay include faster withdrawals and more payment options, while cons are complexity, scam risks, and dependence on finding other users.
What Is MatchPay?
MatchPay is a peer-to-peer trading platform that allows users to buy and sell credits with other MatchPay users. It supports various payment methods such as PayPal, Venmo, Zelle, Apple Pay, Chime, and CashApp.
When depositing money to a Bovada account, players can use MatchPay to purchase those funds from other MatchPay users via the aforementioned payment methods.
Similarly, players can make cash withdrawals from Bovada by selling their funds to other MatchPay users.
The Risks of Using MatchPay at Bovada
Generally, MatchPay is safe to use, leveraging the security protocols of the payment methods it supports. The app is designed for safe and private transactions. It does not involve direct bank account transfers and offers a layer of privacy.
However, users should be cautious, as peer-to-peer platforms inherently carry a risk of encountering dishonest counterparts. Instances of disputes or funds getting ‘stuck’ during transactions have been reported, emphasizing the need for adherence to MatchPay’s guidelines to mitigate risks.
Here’s a real example of the risk involved:
You make a withdrawal from Bovada to MatchPay and then initiate a sell with one of the supported payment methods. You get matched with a user who claims to have sent you the funds. However, no such funds have been received by you.
You now have to rely on customer support to resolve this and get your money back. Meanwhile, the user who claims to have sent you the funds is hoping that you accidentally press the button confirming that the funds were indeed received by you. Should you do this, your money is lost forever.
An additional risk factor is that the trade goes through as it should and all seems well, but then the user who sent you the funds makes a chargeback to claim the money back. This is not possible with all payment methods, but it is still a risk with some (such as PayPal) which users must take into consideration.
Depositing and Withdrawing
Making a MatchPay deposit at Bovada is easy. Simply follow these steps:
- Log into Bovada and click on ‘Deposit’.
- Select MatchPay as your payment method.
- If it’s your first deposit, create a MatchPay ID and password.
- Log into your MatchPay account and create an order.
- Choose the order amount and payment method
- Wait for Bovada to match you with another user for the fund transfer.
Withdrawing funds from Bovada with MatchPay follows a similar process as depositing:
- Go to ‘Withdraw’ in your Bovada profile and select MatchPay.
- Create an Offer in MatchPay with the amount you wish to withdraw.
- Wait for a buyer match, complete the transaction, and confirm the receipt of funds.
Creating a MatchPay Account
Creating a MatchPay account is a straightforward process, easily done via the Bovada cashier:
- Select MatchPay in the Bovada cashier and click ‘Join Now’.
- Provide your personal details, including name and date of birth.
- Create a username and password.
- Verify your email and phone number to activate your MatchPay account.
That’s it! You are now ready to trade.
Pros and Cons of Using MatchPay at Bovada
- Wider variety of payment methods to use
- No fees for transactions
- Withdrawal times can be much faster
- Can be complex for new users
- Not able to claim bonus offers
- Slight risk of getting scammed by other MatchPay users
- Transaction time depends on finding a user
Tips When Using MatchPay
- Utilize multiple payment methods to more easily find users to trade with.
- Engage only in direct peer-to-peer trades (never third parties).
- Share trade details in the trade chat for clarity.
- Wait until credits are fully available before confirming transactions.
- Know that trades with Zelle are processed only on business days.
Can I create a MatchPay account at Bovada?
Yes, you can initiate MatchPay registration directly from the Bovada cashier.
Can I claim bonuses at Bovada when using MatchPay?
Most of Bovada’s promotional offers will not be available for users who deposit with MatchPay.
Can I get scammed when transacting money with MatchPay?
Yes, there is a slight risk you can get scammed when depositing and withdrawing money with MatchPay if you encounter dishonest users.
How long does a Bovada deposit with MatchPay take?
Deposits with MatchPay at Bovada are generally quick. The time taken depends on how soon you are matched with a MatchPay user. More payment methods added to MatchPay allow for faster matching.
Are there fees for using MatchPay at Bovada?
No, there are no additional fees for using MatchPay for either deposits or withdrawals at Bovada.
What are the limits for MatchPay transactions at Bovada?
The minimum deposit limit is $20, and the maximum is $1,000. For withdrawals, the minimum is $20, and the maximum is $2,000 per transaction, with up to 2 transactions allowed per day.
Can MatchPay credits be transferred directly to a bank account?
No, MatchPay credits cannot be sent directly to your personal bank account. They are used within the MatchPay system for peer-to-peer transactions.
Can I redeposit a MatchPay withdrawal?
To redeposit a MatchPay withdrawal to Bovada, select MatchPay under deposits and follow the prompts to transfer the credits back.
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