Cryptocurrencies are taking over the world, and many online casinos embraced this new type of payment due to its ground-breaking features. Apart from allowing peer-to-peer money transfer, cryptos are usually much faster and more affordable compared to their other payment methods.
That said, they also have a couple of disadvantages as well. In this article, we’ll make a quick overview of cryptocurrency gambling in Canada and point out the essential things you need to know about crypto deposits and withdrawals.
The first question that many Canadian crypto enthusiasts ask is whether they can use crypto to play online casino games for real money. The answer is yes, but there’s still a huge number of casinos that do not accept cryptos. Therefore, if you want to play using your Bitcoin or any other cryptocurrency, you need to find a casino that accepts it.
Many casinos don’t accept cryptos because cryptocurrency gambling is considered a grey zone by Canadian lawmakers, meaning it’s not illegal, but it isn’t exactly legal either. The same goes for online casino operators — some trust cryptocurrencies more than others.
Either way, it’s no secret that cryptos bring many advantages to online casino gamblers in Canada, so let’s take a look at some of them.
There are several casinos in Canada accepting Crypto such as 1XBET, Bitstarz, and others. We, however, do not currently collaborate with any casinos offering crypto. We can recommend the following casinos which accept all standard payment methods such as transfers, Visa, Paypal, etc.
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The majority of casinos that accept crypto probably accept Bitcoin, as BTC is still the most popular cryptocurrency. Therefore, the chances of finding a Bitcoin casino are much higher compared to any other digital currency, including Ethereum.
That said, there are several platforms accepting altcoins, with the most popular options usually being Ethereum, Litecoin, Tether, Bitcoin Cash, and more. Besides the top 10 most popular cryptos, not many other digital currencies are accepted by online casinos. If you don’t have any cryptos at the moment, your best bet is to buy some Bitcoin.
First of all, using cryptocurrencies is peer-to-peer, meaning you’ll send cryptos directly from your crypto wallet to crypto casinos with no intermediaries, such as banks, making congestion, and taking huge fees. That’s why crypto transaction fees are much lower compared to traditional payment methods.
The majority of cryptocurrency transactions are instant, but some of them might take a couple of minutes before they are processed, depending on the current trading volume on the network. This mainly applies to Bitcoin transactions, as Bitcoin is the most popular cryptocurrency in the world.
Due to their unique underlying technology based on a distributed ledger, cryptocurrencies are considered very secure, meaning all your transactions are safe from various kinds of hackers and other cybercriminals.
Perhaps one of the biggest advantages is the limits. In most casinos, you’ll be able to deposit much more money with cryptocurrencies than with any other payment method simply because cryptocurrencies don’t have transaction limits. On the other hand, casinos do have limits, but they can still offer better deals to those who want to deposit in crypto.
The only major disadvantage of cryptocurrencies is that they are still not adopted on a grand scale. Many casinos don’t accept them, meaning you might not be able to use them in the online casino of your choice. However, that’s slowly improved as an increasing number of industries around the globe start to rely on cryptos and blockchain technology.
Many online casinos in Canada that accept cryptocurrencies want to attract more users who use them for deposits, and that’s why they offer various deposit bonuses on your first crypto deposit. These usually match bonuses, meaning you’ll receive an additional amount of money on top of your deposit. Make sure to explore available cryptocurrency deposit options before making an actual deposit, as that can help you kickstart your online crypto journey.
Even though it has been around for almost a decade, cryptocurrency gambling is still quite new and unregulated in Canada. Still, a couple of excellent platforms allow their users to make deposits and withdrawals using cryptos such as Bitcoin. If you already own some cryptos, feel free to pick one of the available Canadian crypto casinos and begin your online casino adventure.