Kyle is your go-to guy for all things related to betting!
Kyle is your go-to guy for all things related to betting!
Hello and welcome to the only guide you will ever need on finding the best Bitcoin casino in Canada today. Bitcoin is the currency of the future and it is making waves in the online casino industry.
In this guide, we show you how you can make payments by using Bitcoin at online casinos. In addition to this, we give you some essential facts about Bitcoin casinos, how you can verify your identity when using the digital currency and how the cryptocurrency compares to other more traditional payment methods as well. Read on to learn more.
Whether you are using a traditional Bitcoin casino or a Bitcoin live casino, there are going to be certain steps you need to follow in order to make a successful deposit into your betting account. All in all, the steps you need to follow on the best Bitcoin casino won’t be all that difficult to do, but you do need to do everything correctly. Let’s take a look at the process in a few simple steps:
Processing times can be a bit of a pain when you are trying to get your casino gaming underway online. However, these processing times can vary both by the method you use, your bank or the operator themselves. When it comes to using Bitcoin as your main deposit method, we have found that the processing times remain fairly similar, irrespective of the casinos you decide to play with.
The beautiful thing about using Bitcoin as your deposit method is that it does not require any verification on the part of the operator/casino you are using. Your deposits are verified by miners where the transaction is then entered into the blockchain. Now, your Bitcoin transaction times will vary. We found that these transactions can often be instantaneous but on the off chance that you have to wait, it can take up to an hour for the process to clear. Your deposit and withdrawal times will have very similar processing times as well.
When compared to other more conventional fiat currency deposits like a bank transfer, a Bitcoin deposit is far speedier. Whether the Bitcoin deposit speeds are as fast as we have seen with the best Ethereum online casinos is debatable but either way, efficiency is the name of the game with Bitcoin deposits and withdrawals.
The process by which you will need to verify your Bitcoin profile is different from your average fiat currency. This isn’t the same as setting up a credit or debit card with your bank. Instead, you will first need to own some Bitcoin before you can start funding your casino gaming endeavours. So how do you go about doing that? Well, you need to start by finding a reliable crypto or Bitcoin exchange platform.
Upon finding an exchange platform that you want to use, you will then need to complete the sign-up process. Once you have completed all of the steps in the process and your account is set up, you will need to verify your identification before you can actually start buying Bitcoin on the platform. You will need to do the same even if you are trying to use the best Dogecoin online casinos. Verifying your identity on these platforms is actually quite straightforward as all you need to do is send the exchange a copy of your standard I.D., driver’s licence or your passport. Depending on the platform, you may also need to send a copy of a recent utility bill or bank statement to provide proof of address.
The exchange will then begin the process of verifying your documents. This usually only takes a few hours but it may take a day or two at most. Once your identity has been verified, you can then start buying Bitcoin on the exchange. It’s important to note here that you don’t need to keep your newly acquired Bitcoin on the exchange platform, as you can use a different hot or cold wallet of your choosing.
At this point, it should be clear that Bitcoin is a digital currency that is unlike your typical fiat currencies. The concept of Bitcoin (and the first cryptocurrency) was outlined in a white paper that was released near the end of 2008 by a man named Satoshi Nakamoto (presumably a pseudonym). His white paper described a decentralized, digital currency that was free from any government or third-party involvement. A currency for the people and by the people (to paraphrase Abe).
Three months after the release of his white paper, Bitcoin came to life with the first block in the blockchain. The benefits of Bitcoin were rooted in the anonymity that it provided to users and the fact that no government has any influence on its rising or falling value. In 2010, Bitcoin became available to the public and shortly thereafter, the first purchase using Bitcoin was completed.
Since then, Bitcoin has gone through some extreme highs and lows. Granted, the digital currency took a while to gain any real traction but once people began to warm up to the idea, it began to truly take off in value. While some still consider it to be a bubble, there are others who truly believe in the utility of the currency. So much so that online casinos began adding it to their list of payment methods. The first addition of cryptocurrency as a payment option on a casino site can be traced back to 2011. Nowadays, you can find plenty of online casino platforms in Canada that offer Bitcoin and many other cryptos as a deposit and withdrawal option.
As you may know, there are plenty of other payment methods that you can choose from with the best online casinos in Canada. You might be wondering why you would opt to use Bitcoin as your main payment method over methods like bank transfers, ewallets and debit/credit cards. Well, let’s take a look at some of the key differences
As you can see, Bitcoin has an edge on most of its payment method competitors with its speedy transactions and free deposits and withdrawals. There is nothing wrong with using the other payment methods, but it’s worth considering why so many people are making the jump to Bitcoin as their preferred deposit method for casino gambling.
There are plenty of things to keep in mind when using the best Bitcoin casino. Bitcoin can seem like quite a complex thing to someone who has never used the digital currency before. That is why we wanted to give you a few facts about the digital currency before you head off to use the best Bitcoin casino you can find.
Every online casino is different. This includes how much they are going to charge their players for transactions on the site. It’s a good idea to check out the deposit pages on these platforms to see what the transaction fees might be. If you are going to be making frequent deposits into your casino gaming account, you will obviously want to avoid Bitcoin casinos that charge higher transaction fees. You can find this information out on our site where we have conducted a plethora of reviews of all of the best Litecoin online casinos and Bitcoin casinos as well.
You will almost always need to keep your withdrawal option the same as your most recent deposit. This isn’t always the exact same but we have covered enough reviews of the best Bitcoin casino sites to know that it happens a lot. So, if for whatever reason you don’t want to make a withdrawal using your Bitcoin wallet, keep that in mind when you are making a deposit as you will likely be made to.
This is something we can’t stress enough. These online casinos are definitely safe to use but Bitcoin is a valuable thing. If you are keeping your Bitcoin in a reputable hot wallet, keep most of it there. Even if you think you will be using a lot of your Bitcoin for casino gaming, there is no need to deposit one large amount of your digital currency into your casino gaming account. Better yet, claim a Bitcoin casino no deposit bonus on every site you can find. Rather take the added steps of multiple deposits instead of taking a large portion of your Bitcoin out of your hot wallet. This is simply a safer approach to gambling online with the digital currency.
And so we come to the end of our guide. It has taken some time for the average person to warm up to the idea of Bitcoin, but it has now become part and parcel of many online casinos in Canada. The digital currency is being used by more people every day for their casino gaming needs and rightly so. As a deposit option, Bitcoin provides a multitude of benefits to the user. From speedy deposits and withdrawals to completely anonymous transactions, there is no reason why more people shouldn’t be using Bitcoin as their go-to payment method.
Gambling laws vary from country to country and sometimes from province to province (in the case of Canada). Following the changes to local gambling laws can be a bit of a chore that most players really don’t have the time for. Thankfully for you, our guide to finding the best Bitcoin casinos sheds some light on the current legality of Bitcoin casino gaming in Canada. Check out our guide to learn more.
While some of you will no doubt be looking for casinos that offer you Bitcoin as a deposit method, you may also be after certain casino games as well. These online casinos that offer Bitcoin as a payment method will vary significantly when it comes to the casino games they offer. That is why we take the time to run you through the different kinds of casino games you can typically find on these sites. Check out our guide to see where to find a platform that offers the casino games you are looking for.
Once you find a Bitcoin casino that you think is going to suit you, the last piece of the puzzle is to make sure that the operator has a mobile app for you to download. Our guide to finding the best Bitcoin casino will also show you which of these operators currently has the best mobile app for you to download via iOS and Android app stores.
Naturally, you will be looking to find online casinos that allow you to make deposits and withdrawals using Bitcoin. However, many players have more than one deposit method that they enjoy using, which is why they will need online casinos that have a diverse range of methods to choose from. Our guide will show you what the average range of deposit methods looks like on these sites and where you can find an operator that has the widest range of methods available.
There is no blanket answer for how you can create your account with Bitcoin casinos. However, there is a recurring theme for all of these sites which we touch on in more detail in our guide. While these sites may vary on how you can create your account with them, we can point you to the very best Bitcoin casino sites where our reviews show you the detailed process of how to get your account started.