Bitcoin Casinos in Canada 2021
Are you interested in using Bitcoin to play games in online casinos, but you are a complete beginner in this field? We’ve done some research and created a guide focused on this cryptocurrency. Bitcoin is one of the oldest and most popular cryptocurrencies. Invented in 2008, it didn’t take much time before many online casinos have started offering Bitcoin as a payment method. Today, you can find dozens of casino payment methods, but only a few of them offer anonymity, speed, and security like this cryptocurrency. Now let’s check all the details about this payment method used on gambling websites.
- Secure payment method
- Used in many online casinos
- Most popular cryptocurrency
- Easy to convert into fiat currencies
Bitcoin: How it works!
Let’s be clear, the mechanic behind Bitcoin can be a little bit difficult to understand. To put it simply, this is a digital currency that works as a computer file that is found in digital wallets (applications) on computers or mobile devices. Luckily, it’s easy to transfer Bitcoin between users. Simply use your digital wallet to receive or send this currency. Remember that you can buy Bitcoin with fiat currencies or create it with the help of your computer. In any case, to start using Bitcoin in an online casino, you will need the number of your digital wallet. It takes just a few clicks to complete these transactions.
Payment procedure with Bitcoin
Even complete beginners can start using Bitcoin in online casinos that accept it, right away. Here’s how the payment procedure with this cryptocurrency works.
- Check the wallet address of the online casino that you want to use.
- Open the wallet app and enter the address
- Enter the amount and check the details again before sending
What’s great is that most online casinos promise instant processing of Bitcoin transfers. There are no delays when you are placing deposits, but also when you are withdrawing your earnings. Also, the popularity of this payment method keeps growing every day which means that you can find many online casinos that accept Bitcoin.
Bitcoin: You need this before your first payment
It doesn’t matter whether you want to use Bitcoin in live casino or you want to use this digital currency for something else – you will always need a Bitcoin wallet. So, before you place the first deposit on a casino site that’s crypto-friendly, you will have to create a Bitcoin wallet.
The good thing is that users can choose from a variety of wallets. Generally speaking, there are three main types – mobile, software, and hardware wallets. Your needs will define the type of wallet, you want to use. For casino players, the most popular choice is a software wallet that they can manage from their computer (but, also from their mobile device in most cases.). Each of these wallets has step-by-step instructions and it usually doesn’t take more than a few minutes to complete the process.
Once you have a Bitcoin wallet, it’s time to add some funds to it. You can use many exchange sites to do this (simply use your debit or credit card to buy Bitcoin and send them to your wallet). If there is some Bitcoin there, you can join a Bitcoin casino, place a deposit and start playing in a matter of minutes.
Pros and Cons of Bitcoin
Advantages of Bitcoin
There are many benefits of using Bitcoin in online casinos. To help players understand these advantages, we have created a list of top advantages.Also, don’t forget to analyze your gaming style and preferences before you start using Bitcoin or any other payment method.
- No Geo-Restrictions - Payments through Bitcoin are practical because they let players from every part of the world play their favorite casino games. As you are probably aware, online gambling is not legal everywhere in the world. However, if you use Bitcoin, you can bypass these restrictions because no one knows where you are coming from.
- Very Secure: It’s virtually impossible for someone to get payment info from Bitcoin casino players. You will not share any personal data, just your unique wallet number. Also, the transactions are irreversible.
- (Almost) no transaction fees: This advantage depends on the policy of the crypto casino that you are using. The best Bitcoin casino sites will not charge players anything for this type of transaction especially when it comes to a casino deposit. Even if there’s a transaction fee involved, it will be way lower compared to many other casino payment methods.
- No taxation: Since Bitcoin is not regulated by a government or other centralized authority, there are no taxes involved. Anything you deposit or withdraw will keep its original value.
- Better bonuses: Once again, this advantage of using Bitcoin as a payment method in online casinos depends on the casino. However, most of the crypto casinos have boosted bonus offers for players who prefer Bitcoin as a payment method. This makes sense because of the lack of taxation, the speed, fewer risks, and virtually no transaction fees make this method attractive.
Disadvantages of Bitcoin
The good news is that there are just a small number of disadvantages of using Bitcoin and most of them can be avoided. For starters, Bitcoin is volatile which means that the value of this digital currency can go up and down in a matter of minutes. By checking the value all the time, you might find the right moment to use your funds. Also, this payment method is not accepted in all online casinos.
How long does a withdrawal with Bitcoin take?
Before we talk about the withdrawal time associated with Bitcoin in online casinos, let us mention the deposit process. It’s no surprise that placing deposits with this trendy currency is instant. Most payment methods are processed immediately on the vast majority of casino websites and Bitcoin is not an exception. Once you choose a sum, enter the number of your wallet, and send the funds, you should be able to play your favorite games.
The best part is that the withdrawals are usually processed instantly too. Most casinos have a 24-hour processing time (although most crypto transfers are finished in a matter of hours), but since there’s no middleman involved in the process, you will not wait additional time to get the money. In theory, you will complete the transfer in less than a day. That’s something that you can’t expect when there are banks involved. We should also mention that there are usually no fees involved no matter whether you are withdrawing or depositing Bitcoin. These are some of the most important reasons why more and more players are switching to this payment method when they are using casino sites.
Top 5 Online Casinos that accept Bitcoin
The growing number of online casinos that have made this cryptocurrency available as a payment method can confuse some players. That’s why we have created a Top 5 comparison of the best operators that accept Bitcoin. Join any of these Bitcoin-friendly online casinos to maximize the effects of your gambling activity.
Bitcoin Casino: Frequently asked & answered
Do you have any questions regarding the use of Bitcoin in online casinos? Check our FAQ section.
Yes. As long as you are using Bitcoin in registered online casinos and there’s no specific law in your country prohibiting the use of online casino sites and cryptocurrencies, you should be fine. In fact, many players use this cryptocurrency to avoid potential legal problems.
Yes. Just like in the case of shopping with Bitcoin on the Internet, playing your favorite casino games on casino sites is safe too. Of course, to remain completely safe, you must look for licensed online casinos with a good reputation.
No. The truth is that only some Internet-based casinos accept Bitcoin. However, you probably can’t find a payment method that’s accepted in all online casinos. Do some research and find a reputable crypto casino whenever you want to use this option for online gambling.
The first thing that you should do is to deposit Bitcoin to your casino account. Keep in mind that there are online casinos that will convert your cryptocurrency into fiat currency when you place a deposit while others will keep the original currency. Make sure to check that before playing.
Yes. As a matter of fact, many online casinos have special bonuses designed for this category of players. Since this payment method is convenient both for the players and gambling sites, there is enough room for the sites to offer bigger bonuses.
Yes. Every online casino, be it a new online casino or an established one, has a minimum deposit limit that players must meet if they want to play their games. The good thing is that their Bitcoin deposit limits are not different from the rest of the payment methods.
No. Bitcoin vouches for your anonymity. You don’t need to enter your name, address, or any other personal information to initiate a withdrawal process in an online casino. You will complete this procedure anonymously. All you need to share is your crypto wallet number.