Bitcoin is a new entrant in the financial payment realm and just recently it decided to test waters with online casinos. Thanks to its numerous benefits, there are several casinos in Canada that accept bitcoin as a payment method. It has become a widely accepted method and you can use it to play your favorite casino games. Bitcoin is an ideal method as it is fast, secure, and an easier way to transfer cash online. Here are a couple of details that will help you choose an ideal bitcoin casino site.
What Is Bitcoin And How Does It Work?
As we’ll see, Bitcoin’s fast-paced growth has led to a massive increase in popularity among Canadians and is now used in online casinos. But what is Bitcoin exactly? How does it work?
Bitcoin is a cashless digital currency that is not tied to anybody but instead regulated by the players themselves. Transfers take place in bitcoin wallets and each wallet contains a unique code used to authorize a transaction. You can purchase bitcoins at various inline markets commonly called Bitcoin Exchange. Folks love bitcoin because it can be traded with any currency in the world.
Legality Of Bitcoin In Canada
Most folks see Bitcoin as a “too good to be true” offer. We understand that there might be payment methods not accepted in Canada (Paypal, Neteller, etc), but we assure you that Bitcoin is entirely legal to gamble at online casinos. That’s why you will see Bitcoin casinos operating all over Canada. So, don’t worry about legality when gambling with Bitcoin- you only need to be wary of your own security and privacy.
Why Use Bitcoin In Online Casinos?
If you’re still unsure of whether bitcoin is suitable for online casinos, then you’re definitely missing out. The digital currency has more perks to it than downsides. That said, if you want to have a secure payment method, bitcoin is the ideal method. Bitcoin does not accommodate third parties during transactions and there is no trail of transactions to other users. Unlike credit cards, you will never get any issues with chargebacks.
It is worth noting that many popular banks have not yet authorized bitcoins as an online payment method. But luckily, you can use bitcoin as a primary payment method since it does not require any links to your bank account, credit, or debit card. Bitcoin withdrawals and deposits are at the very least instant. The service does not require any confirmation from banks or third-party vendors, so everything works in a few seconds. You don’t have to wait for days for a certain financial institution to make payments via bitcoin.
Bitcoin is reliable because your money is available whenever you need it. It is an automated system and works at any time of the day or night. Also, bitcoin currency is not yet subject to taxes, no matter the country which automatically makes bitcoin an affordable alternative.
How To Deposit Bitcoins In Your Online Casino
Using bitcoin is a breeze- once you have an account set up, the rest is easy. First, make sure the online casino accepts bitcoin as a payment method. To deposit via bitcoin the casino will create a temporary bitcoin wallet where all your transactions will take place You will then get details of the bitcoin wallet and receive a unique text line which once placed in the wallet, will activate.
With the unique code in place, you can now choose the amount you wish to withdraw from your bitcoin wallet. Luckily, Bitcoin payments are swift and you will have your money in minutes. For new Bitcoin users, it is important to check with your casino the number of attempts they accept before confirming your deposit. It is a crucial step because in case there are network issues, you don’t risk paying twice.
How To Withdraw Bitcoins In your Online Casino
The withdrawal process is not different. When you win money with Bitcoin online casinos, you can use the same process you used to deposit your money to withdraw winnings. You can save in it your Bitcoin wallet or use a third party to convert the money into cash. Just head to the withdrawal section and choose Bitcoin as a withdrawal method. The casino will provide a unique link that you will use in your BTC wallet to receive Bitcoins.
Best Bitcoin Casinos In Canada
Now that you know a thing or two about Bitcoin and how to use it in casinos, here are some online casinos we recommend using Bitcoin as a payment method for.
BitStarz Casino
BitStarz is a unique BTC casino with over 2,200 casino games in the lobby. BitStarz allows Bitcoin payments among other methods as well. New players get to enjoy an amazing NO Deposit Bonus with 20 free spins.
7Bit
7Bit casino has been in the online industry for only 10 years and it is making waves in the gambling industry. It supports both traditional payments and other major cryptocurrencies like Bitcoin, Litecoin, Etherium, and Tether. The casino has a 100% match bonus of up to $200 and 200 free spins.
22Bet Casino
22Bet Casino may not be a new name to online gamblers and it is a popular option in Canada. What’s more interesting is the fact that it allows Bitcoin payments and has one of the highest varieties of games (currently at 6000+). 22Bet has a 100% welcome bonus of up to C$100 for new players.
KingBit Casino
KingBit Casino is a unique online casino that offers lots of incentives for Canadian players. It has live dealer games, a sportsbook, and a host of casino games such as monopoly and craps. Their welcome offer is a whopping 110% match-up bonus up to 1 BTC. That’s a huge maximum limit considering the value of one Bitcoin.
Final Thoughts
The above list of casinos is nowhere near exhaustive. There still are a number of online Bitcoin casinos available in Canada. As long as you have checked to see that the casino is legit and available in Canada, you can go ahead and enjoy your favorite games!
