Bitcoin is the latest revolution, not only as a means of payment, but also due to many events, especially since the beginning of 2021. This has led to online Bitcoin casinos now becoming a big trend across Europe and especially in Canada.
This type of casinos is characterized not only by the fact that it is fully adapted to the cryptocurrency, but also by the fact that online Bitcoin casinos have some very unique and distinctive features that cannot be found in any other classic or even new online or Bitcoin live casino.
What you should definitely know about Bitcoin is the fact that it offers the highest level of security and anonymity, as it is a pure cryptocurrency that cannot be assigned to any known bank.
That’s why we decided to talk about the most important aspects that exist in Bitcoin online casinos. We’ll go into everything from how Bitcoin works, to the pros and cons, how secure Bitcoin really is, anonymity, how to choose a good online casino with Bitcoin, deposits and withdrawals, fees, and more!
If you are interested in taking the next step towards an anonymous yet very lucrative world, then read on and discover our list of the best Canadian online casinos!
Best Bitcoin Casinos for Canadian Players
How does Bitcoin work?
Bitcoin is as unique as it gets and has evolved into a modern currency that everyone wants to have.
The currency itself was created in 2009 by someone with the pseudonym Satoshi Nakamoto, who has remained anonymous to this day. What distinguishes Bitcoin or cryptocurrency from all other currencies is the fact that there is no middleman. This means that there is no bank.
But Bitcoin isn’t just limited to casinos, because you can even use it to book hotels, order furniture, or buy your favorite video games. Although, the biggest hype at the moment actually comes from trading, as the price has shot into the thousands in recent years.
However, the biggest advantage of Bitcoin is indeed its anonymity and the fact that payments are easy and incredibly cheap since it is not tied to anything. Nowadays, they even like small businesses because there are no credit card fees.
It is also important to know that Bitcoins are stored in digital wallets. This means that they exist only in the cloud or on the user’s computer. So, a wallet is a type of virtual bank account that allows users to perform all sorts of operations, such as sending or receiving money.B, paying for transactions, and of course securing their money. However, unlike real bank accounts, these Cryptocurrency wallets are not insured by the FDIC.
Advantages of Bitcoin in online casinos
Bitcoin in Casinos: Pro
Completely independent of other currencies
Charges the lowest fees
Lightweight and easy to use
There are a lot of advantages to using Bitcoin at an online casino. Here are some positive things to keep in mind at all times:
Independent:Nothing is connected to Bitcoin. This means that the cryptocurrency is completely independent of the economic development of other currencies such as the dollar or the euro.
Fees:Many banks and other payment methods around the world are known for their high fees, especially when used in such places as online casinos. However, Bitcoins are the opposite in this regard, as they charge the lowest fees. This happens because, as you may already know, they are their own currency and they can do whatever they want.
Easy and simple:Using bitcoins may sound difficult, but it’s actually easier than you think. All you have to do is create a wallet and visit a store or website that accepts bitcoins.
Anonymous Gambling:One of the best advantages of Bitcoin casinos is the fact that you are completely anonymous. If you end up paying with bitcoins, it means that your account details won’t be sent with the rest.
Convenient:If you play in another country, for example.B. where you usually have to exchange currencies, then Bitcoins can simplify this as they are the same everywhere. In addition, transactions can be carried out at any time, which makes the cryptocurrency in an online casino all the faster and more convenient.
Disadvantages of Bitcoin in Casinos
Bitcoin in Casinos: Cons
Not all casinos accept Bitcoin
Fluctuating exchange rates
Need for security
You should have an understanding of the currency
Although it looks like bitcoins may not have any drawbacks lately, there are some very important ones. Let’s take a look at what to look out for:
Acceptance:Bitcoins are just at the beginning of their journey and there is still a long way to go. That’s why they’re not accepted in many places and that means you have to search carefully to find places that actually offer cryptocurrency transactions.
Fluctuating exchange rates:If there’s one thing that moves fast in the stock market, it’s Bitcoins. The currency can increase or lose value within a heartbeat, and no other currency moves as fast as this one.
Need for security:Although bitcoins are known for their security, you have to keep in mind that they are stored on your computer, which can be hacked or attacked by a virus. This could mean that your bitcoins are being stolen. That’s why most experts would recommend anyone who owns bitcoins to drastically increase the security of their system.
Not like other currencies:Although bitcoins may look like other currencies, in reality they are much more modern and sophisticated to use. You don’t have to be a tech expert, but you should have an extensive understanding of the currency itself.
Are Bitcoin payments secure?
Don’t think for a second that Bitcoins are like any other payment method. BTC is a decentralized blockchain, which means there is no middleman to control payment. To pay for something, you simply need to send the appropriate amount to the address or person and then it will be recorded on the blockchain.
These become publicly available on the blockchain, but it is impossible to manipulate or modify them. This balance will only be considered secure if you actually protect it with your own private key. This private key is used to access everything within a specific Bitcoin address.
If you actually use BTC in an online casino, then keep in mind that everything must also be encrypted. But even if something goes wrong with the public key, the data is useless without the private key, which means that the public keys can be shared without hesitation, even if they are an analogy to account numbers. This means that Bitcoin casinos are actually at the top of the list when it comes to privacy.
Coming back to the fact that bitcoins are safe and independent, the most obvious reason for this is that no institution watches over your money. This means that you are alone with your money. This is where the keys come into play, where you have to use your private one to actually access the public ones. If you lose your key or it is stolen, then that person has full access to your balance and you can’t do anything about it.
The best recommendation someone can give you is that you should be extra careful with your private key. A USB flash drive would be a good example of a safe place to store your Bitcoin data.
But what most people get wrong is that they think Bitcoin transactions can’t be traced. They can actually be traced back thanks to the private and public keys, making it a pseudo-anonymous currency at best.
Anonymity in Bitcoin payments
As we just mentioned, Bitcoin is not completely anonymous, which makes it a criminal paradise. Bitcoins are actually only pseudo-anonymous, as they are tied to addresses, although not to real people. If you have a Bitcoin address, it cannot be explicitly identified, but every transaction that takes place remains public on the blockchain.
But to make things even more private, you can actually get a new Bitcoin address with every transaction generated.
However, transactions can be tied to people and companies in case something strange happens. This happens due to the “idioms of use” that occur when multiple inputs have a common owner. This is then compared with the public transactions so that traceability to a specific person or company. So, if you actually want to exchange bitcoins in public, you will most likely need to share some personal information.
So you see that bitcoins are very anonymous, but they are not bulletproof. This means that criminal activity can be tracked down due to many aspects of the transactions. But that doesn’t change the fact that they are favored by most people who, for .B, don’t want to reveal their online activities, and that’s why they choose Bitcoin casinos over everyone else.
How to recognize a good online casino?
If there is one thing that is crucial when you are looking for an online casino, especially a Bitcoin casino, it is security and trustworthiness. Due to the fact that Bitcoin casinos are still something completely new, it is obvious that there are all kinds of casinos, with different measures in terms of reliability.
If you want to embark on a crypto adventure, then you should make a list of things that every casino should check. First of all, every casino should have a wide selection of both slot machines and games such as blackjack, roulette and new games. Then you need to check the wagering requirements and whether the casino is actually licensed by a regulatory body such as eCOGRA or the Malta Gaming Authority. These ensure that every single aspect of the casino itself follows exactly the procedures they should to ensure a safe and fun gaming experience for every player. If everything looks good so far, then the last thing you should check is that the bonus conditions are explained correctly and that the customer support is professional and helpful. It is also a great advantage when the customer service speaks into a Bitcoin Casino French.
Here are two additional tips you can always carry with you:
Read forums and casino reviews that only talk about reputable casinos.
Find out about the regulators to see exactly what they expect from a casino.
We’ve created a list of the best Canadian casinos we’ve been able to find, all of which are fully licensed and where they all offer additional features such as payments, security, games and mobile versions at the highest possible level.
Check these out if you want to play safely and see if you can find the best Bitcoin online casino in Canada, whether it’s a standard online or live casino, or if it’s a brand new online Bitcoin casino with all its advantages.
Bitcoin payments in online casinos
The next thing we will discuss in this review is payments with Bitcoin. Although you have already learned most of it, it is incredibly important to know how to make a deposit and also how to withdraw with the cryptocurrency.
This isn’t just limited to bitcoins, as casino payments are often considered one of the most important aspects in a casino experience. For example, if a casino takes too long to process withdrawals, then that would most likely destroy your gaming experience and most players actually leave casinos for this reason.
But Bitcoin payments are worth talking about separately, as they’re still something most people don’t know. Let’s take a look at how to make the perfect deposit and how to cash out all your winnings plus fees!
It’s time to learn how to actually deposit with Bitcoins. Let’s take a step-by-step look at how to make a deposit with Bitcoins at an online casino.
The first thing you need to do is to find the deposit area in a crypto casino. The casinos with Bitcoin deposit are not only limited to cryptocurrencies, but they are the preferred ones. Once you have selected BTC as your payment method, you will receive a public key that belongs to your account. Next, you need to choose how much you want to deposit. You have to do this process in Bitcoins, but usually the casinos will help you with this by offering a calculator.
Here it gets a bit complicated, because you have to make the transfer yourself! To do this, you need to go to your Bitcoin wallet and enter the public key to transfer the money to your account. You will also need to enter the fee.
Once you’ve sent the money, your money will become part of the famous blockchain network. This is used to check your transaction and then execute it. After that, the payment is found in the blockchain as completed. This will unlock your balance on your casino account and allow you to play at the casino with real money.
The process takes a few minutes, so don’t get nervous if you don’t see the transaction as complete right away. Usually, the block time for this cryptocurrency is 10 minutes, which you will have to wait and see, as you will not receive the release until the next block. If the network is too crowded, it may take even longer.
Here it depends on the fee, because the higher the fee you pay, the faster the whole thing is done. If you have decided not to pay anything, well, then sometimes it can take a while.
Now let’s take a look at what payouts mean in a Bitcoin casino. The withdrawals themselves are not as complicated as the deposits, however, you will need to work a little with the casino as the withdrawals need to be monitored. But if you trust your casino, then that won’t be a problem. Besides, the best Bitcoin casino will always be able to help you as much as possible.
So read carefully how to make your withdrawals step by step:
Above all else, you must always handle the KYC procedure. These initials, KYC, stand for “Know Your Customer”, which means “Know your customer” in French. This happens because it is the main procedure against money laundering on the Internet. In order to make payments, the identity of the users must be proven. To do this, the customer support of an online casino asks for some of your data, such as .B a copy of your driver’s license or identity card. This is what you need to do to receive your payments, directly on the casino page or by emailing customer support.
Well, once you’ve done that, then you can start cashing out your money. Don’t worry about the verification process because it usually doesn’t take more than a day or so. So if you want your money, you need to tell the casino your public key, which usually happens during the withdrawal request. After that, the casino sends your money to the P2P network of the blockchain, where it has to wait again until it is approved.
How quickly you receive your payouts may depend on the casino as it can choose the fees. If it definitely takes a while, then don’t worry, because sooner or later you will get your money.
Fees in Bitcoin Casinos
Bitcoin is quite special when it comes to fees, you can look at that in a good or a bad way. Because although the transaction fees can be optional, the so-called “minors” can choose which transaction they want to process and they usually prefer those who pay higher fees.
But it is not selected according to the absolute amount of money paid as a fee, but according to the fee paid for their storage size.
Why do these minors get a fee? Because it is used as a reward for their work. You choose how much fee you pay, but depending on how much you pay them, the faster or slower they will fulfill your transaction. Modern wallets can even help you calculate the fee, depending on the network load.
Fees in casinos
Now, if we talk about taxes, then it is logical that you have to pay taxes on your profits. But if you have bitcoins in your wallet, you don’t have to pay anything. The best tip you can get at this point is to find out about the taxes you will have to pay in your particular case.
Also, you can expect the casinos to inform you about the fees when you make a withdrawal. However, since it is still very new and the Canadian casinos are interested in attracting new players, some of them remove the fees on Bitcoin completely.
Are there Bitcoin games in casinos?
Bitcoin may have conquered the iGaming industry, especially since the beginning of 2021, but cryptocurrency is not limited to just as a means of payment in casinos – because software providers have also come up with Bitcoin games.
And why are there Bitcoin games? Well, because due to the rapid growth of the currency, people have started to demand special games to win more bitcoins.
Let’s take a look at the currently 3 most popular Bitcoin games you can play in Canada in 2021:
One of the first Bitcoin casinos developed this popular game, although it is already a staple for crypto gambling. What makes it so different from other games in 2021 is that the game is simple. The only thing you need to do is bet on whether the dice will be higher or lower than your given point. In addition, it offers a very good house edge, with almost every casino offering below 1%, with some even below 0.5%. The last thing to mention is that Bitcoin Dice is incredibly fast, which makes it exciting from the start.
Not only is blackjack one of the most popular games in general, but it is also a fan favorite in Bitcoin casinos with their own versions. These versions are called Pontoon, Double Exposure and Multihand Blackjack. Many players have even called these the best blackjack games for beginners. Because these games also have a very low house edge.
Not only is this game super fun, but it’s also very addictive. It was launched back in 2015 and your job as a player is to fight against the gorilla named BitKong. You have to move through the playing field and guess in which field a fruit is hidden. If you guess correctly, then you will rise and multiply your sales. The higher you get, the higher the risk, but also the reward!
Bitcoin and bonus in online casinos
Even though Bitcoin casinos are a new trend and have only just started to move in the iGaming industry, like any other online casino, they also offer the necessary bonuses.
New customers as well as loyal customers are rewarded with all kinds of bonuses, which can range from deposit bonuses to free spins and casino points. The only thing a casino expects from its customers is a deposit, which encourages them to give something to their customers in return. Sometimes you can also get a casino bonus without a first deposit.
But does this also apply to Bitcoin casinos? Yes, of course. Not only are there online casinos that offer special bonuses when using Bitcoin, but there are also casinos that focus only on Bitcoins and offer the best bonuses for Bitcoins.
What is different, however, is the fact that you can claim a welcome bonus in Bitcoins or in Euros if the casino account is held in Euros. Only if an online casino bonus is specified as Bitcoin, then the player account is also kept in Bitcoins, where the corresponding deposit bonus is credited.
However, always pay attention to the bonus conditions and the general terms and conditions of the casino to avoid bad experiences with your Bitcoin Casino bonus or with a game. You can also contact customer support in case you have any doubts.
Alternatives to Bitcoin
Sure, Bitcoin is the preferred cryptocurrency and is often considered the flagship of cryptocurrencies, but that doesn’t mean there are no alternatives. At the moment, there are even over 2,000 different cryptocurrencies and the number is growing day by day.
Choosing a cryptocurrency is actually closer to gambling than to the stock market, as they are all very volatile and you never know what will happen.
Anyway, here is a small list of the best and most well-known alternatives to Bitcoin:
By now, you’ve probably noticed that bitcoins are fascinating, but also complicated. Especially if you haven’t heard much about cryptocurrency before this article.
What is true, however, is that Bitcoin casinos have improved significantly in recent years, as they not only offer the cryptocurrency as a payment method, but also specialize in bonuses and huge prizes that you can win with the currency itself.
If you’re interested in getting your own bitcoins, then don’t worry. Here are tips on how to buy Bitcoin, and maybe your next Bitcoin casino experiences will change your life!
1️ ⃣ Can I get a Bitcoin bonus at the casino?
Just like all other online casinos, when you make a deposit with Bitcoins at a casino, then you get your bonus in the same currency. However, if you are not sure how this works because you are depositing with Bitcoins for the first time, then it is best to contact customer support and get help to get the casino bonus.
2️ ⃣ How can I understand that a casino accepts Bitcoin?
Finding a Bitcoin casino can take a while and even spoil the fun of playing at a casino that day. Therefore, the easiest solution is to check our list where you will find new Bitcoin casinos. You can also look in the footer of a particular casino’s main page where you’ll see Bitcoin or “Bitcoin Accepted,” right next to the other payment methods. If it’s not on the main page, then you’ll find it on a separate page that covers everything about payment methods.
3️ ⃣ Do I have to pay fees at Bitcoin Online Casino?
Whenever you make transactions with bitcoin, you have to pay a fee to the network. However, you can decide how much fee you actually want to pay. However, if you opt for a higher fee, you can also make sure that the process runs more smoothly. Modern wallets even offer the ability to automatically calculate the fee in case the network is busy with traffic. No casino will actually charge additional fees for deposits, but they may charge a small amount for withdrawals.
4️ ⃣ Are online casinos using Bitcoin legal in Canada?
Not only is it legal, but you can also win money when you use Bitcoin in online casinos. Because you can get either Euros or Bitcoins for your profits. However, always make sure that the Bitcoin Casino has been tested online beforehand and has one or more licenses. If that’s the case, then you can be sure that you will receive your money as well as possible.