Bitcoin Casinos in Canada

Bitcoin as An Online Casino Payment Method

Bitcoin launched in 2009 as the first cryptocurrency ever. Then, the idea of virtual currency was both shocking and brand new. So, there was hardly any rush to make use of it. Much later, however, virtual currency, particularly Bitcoin, was well accepted. Today, the coin has proven that it is more profitable and could stand the test of time.

Ever since this acceptance, Bitcoin gambling sites started springing up. Punters could use this crypto to wager on their favorite games just like they would with money. And since it has proved to be the most stable online cryptocurrency, players are ever eager to withdraw their winnings in crypto. Despite the growth of this currency, gambling sites that only allow cryptocurrency transactions are still rare. But you’ll find a handful of platforms that allow transactions to be made in both fiat and cryptocurrency.

How to Deposit Money To Casino Account Via Bitcoin

Making a deposit using a Bitcoin casino is super easy. For a fact, one of the perks of this crypto is the ease and simplicity that comes with it. The first step to depositing this method is to create a Bitcoin wallet. Most people create their crypto wallets with hosted wallet providers like Binance, Roqqu, and Trust. They are safe and secure, so there’s hardly anything to worry about. Nevertheless, you should verify the authenticity of such wallets before registering with them.

You need to download the mobile app of any hosted wallet provider of your choice. Then you can proceed to complete the short registration process. After that, you’ll be required to buy some Bitcoin with traditional currency. You can deposit from your bank to the wallet, and it’ll automatically be converted to Bitcoin. This process is called ‘funding your wallet.

Once you put some funds in your wallet, you can deposit them at a trusted Bitcoin casino in Canada. Go to the ‘Settings’ and select Bitcoin as the payment method. Then you make a transfer to the casino’s wallet address. The gambling site verifies the transaction and automatically credits your in-game wallet with this cryptocurrency.

How to Withdraw Money From A Casino Account Via Bitcoin

Requesting a withdrawal is almost as easy as making a deposit. However, it is advised that you exercise a little more caution here. The online casino will request your wallet address to credit the withdrawal. And as safe as cryptocurrency is, scam casinos can trace the funds and, if possible, clear out your wallet. So we advise you to select only legit Bitcoin casinos listed on this page.

When you’re satisfied with the casino’s authenticity, you can request a withdrawal. You provide the casino operators with your Bitcoin wallet, and they’ll instantly credit your winnings. Once your winnings have been credited, it is easy to convert the Bitcoin to a currency of your choice and then send it back to your bank account. Note that casinos have withdrawal limits. The site solely dictates this limit, and until you attain it, your withdrawal request will not be processed. So, before you request a withdrawal, ensure you meet the limit set by the online casino.

Benefits of Using Bitcoin for Casino Players in Canada

There are tons of benefits attached to Bitcoin gambling. Bitcoin savvy players are already aware of the benefits of using this platform. For newcomers, here are some advantages you enjoy when gambling with this crypto:

• Speed: Cryptocurrency transactions are the quickest ones. Once you get past the wallet registration, your wallet address becomes your ticket to a life of gaming ease. Consequently, you don’t have to pace a hole in the floor wondering when your withdrawal will come. This is because payments are made almost instantaneously.
• No Bank Fees: Playing with cryptocurrency is absolutely fee-free. Whether you’re making a deposit or requesting a withdrawal, the casino or the hosted wallet provider will not be entitled to any charge. This is what makes Bitcoin gambling more preferred over other currencies. The only time you can possibly incur fees is when converting your Bitcoin to another currency.
• Bitcoin Games: Certain online casinos have a specialized Bitcoin games section. Users of these platforms enjoy new and exciting games that non-bitcoin punters are not entitled to.

Security and Safety Of Bitcoin Online Casinos

Bitcoin affords users the highest form of digital currency safety. Unlike when you make transactions with traditional currency, crypto wallets shield you from having to reveal your identity to online casinos. Once you’ve provided the necessary details when creating your wallet, the wallet address becomes your online identity. It is almost impenetrable. Your cryptocurrency is safe and secure as long as you play your part by not divulging your wallet details. Bitcoin transactions are carried out by machines called nodes. These nodes hold codes and are tasked with noticing unauthorized transactions. The moment a suspicious transaction is noticed, the node reroutes the transaction to an entirely different blockchain.

Compare Bitcoin with Other Payment Providers

Bitcoin, no doubt, is a king amongst other cryptocurrencies. Its speedy transactions and security are undeniable. Nonetheless, let’s see how this payment method compares with alternative payment methods.

Conclusion

Looking at this payment provider from every angle, Bitcoins gambling is the right choice. The process is fast and easy, and it provides premium security. You no longer have to worry about fees because the casino pays every penny of your earnings to your Bitcoin wallet. The only seemingly downside is that sometimes when you intend to convert to another currency, the payment provider might require a small fee.