Best Bitcoin Casinos in Canada:
Reviewed and Verified by Cameron Webster
How to Deposit Bitcoin in Casino?
Bitcoins are stored in wallets. There are three popular types of wallets; online wallets, hardware wallets, and software wallets. Online wallets are the quickest and easiest type. All you have to do is involve a third-party online wallet, which can be accessed from a portable device such as phones or PCs. Online wallets are, however, susceptible to security threats.
Hardware wallets are stored in a USB device such as flash drives. To fund or withdraw from your account using this method, you need to plug in your flash drive to the computer. This method is safe because when unplugged, the thumb drive is safe from viruses. Software wallets are installable programs. They are as secure are the device they are installed in.
- Open your gaming account and go to the cashier or payments section.
- Select Bitcoin as your deposit method.
- You will get a unique web address for your account.
- Go to your Bitcoin wallet and input the address you have received from the casino.
- Enter the amount and confirm your transaction.
- The funds will be added to your casino account in few minutes.
How to Withdraw Bitcoin from Casino?
- Go to cashier or payments and press withdraw.
- Choose Bitcoin as your withdrawal method.
- Input your Bitcoin wallet address.
- Check your details if everything is correct.
- Click withdrawal and within few minutes it should arrive in your Bitcoin wallet.
How Safe is Bitcoin in Casino Sites?
Security is a critical feature in any transaction. The user plays a significant role in making their bitcoin account safe. You are therefore advised to be responsible and adopt acceptable practices to ensure that your money is secure. The first step is to choose a casino that is trustworthy and secure.
A site is considered to be safe if it is licensed and regulated by a well-known body such as the UK Gambling Commission. The best way to get such information is by visiting the agency’s official website and check a list of licensed casinos. These necessary precautions will help you wager on your favorite games without the fear of losing money through the casino or your wallet.
Be wary of your wallets, especially online wallets. Some of them might be a hoax looking to steal money from wagers. Remember that lost Bitcoins are unrecoverable unless you have the required keys. Even so, there has not been a significant theft at any casino in the world. Furthermore, it is seen as a safer mode than traditional modes of payment due to its cryptographic nature.
During the transaction, Bitcoins are encrypted and verified several times at disparate points on the network. The keys used in the encryption are very long, making it difficult for thieves and hackers to crack. With all these, Bitcoin proves to be more secure compared to other conventional currencies in the market.
Is It Legal To Gamble Online Using Cryptocurrencies?
Yes, Gambling online using cryptocurrency is legal in Canada. However, you should always be careful and choose casino sites with a valid license from a respected gambling jurisdiction.
Withdrawal and Deposit Fees
- The transaction processing fee varies depending on the amount and if you want a fast transaction.
- Generally no fees
There are no fees when you receive Bitcoins and many wallets give you the authority on how large the fee will be when spending. Higher fees offer a fast confirmation of the transaction. These fees are unrelated to the amount being transacted. You can send large amounts of up to 100,000 Bitcoins for just 1 Bitcoin.
Furthermore, merchant fees also apply in cases where you are converting winnings to flat currently. This occurs when sending these amounts directly to the merchant’s accounts. As these merchants are based on bitcoin, these transaction fees are low as compared to other payment modes and credit cards. There are no administrative costs since transactions are carried out through a peer-to-peer network.
Pros and Cons using Bitcoin in Casino Sites
The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.
Anonymity with Bitcoin in Casinos
We rarely can be anonymous in today’s digitalized world. Bitcoin gives you that possibility. With Bitcoin, you keep your banking transactions to yourself.
Here are some tips on how you can protect your privacy:
- Don’t share personal information with your Bitcoin wallet so it cant be traced to your name.
- Keep your funds in Bitcoin. Converting Bitcoin to USD or other currencies will make them traceable.
- Generate a new wallet for each transaction.
- Use only recommended and reliable Bitcoin casinos you can trust.
Customer Support For Bitcoin
Support offered on the platform is through a live chat. Most of the information needed by the users of Bitcoin can be found in their guides and FAQs section. A forum is also available. You can ask other users questions regarding the problem you are facing. Those who have encountered such problems will give you more information on how they solved them.
Individual wallets have different modes of contact. Some offer mobile numbers, email, and live chats. Due to anonymity, others don’t provide direct contact. The only way to reach is through the mail, which sometimes takes time. Every decision rests on the user’s shoulder. Choose a casino that will provide immediate feedback if you face a problem while using their platform.
Available languages at Bitcoin support:
Ensure that you research the wallet you are using to ensure that it is legit. Moreover, the bitcoin casino should also be certified and licensed by authorities. Choose one of the three types of wallets, as explained earlier. Hardware wallets are known to be the most secure and widely used, but online wallets are more comfortable to use. To create a wallet, download the bitcoin wallet app or software. It is supported in all devices, be it PC or smartphone. Now create a wallet from the software installed. From the app, you can make deposits by pasting addresses provided by bitcoin casino to deposit funds. These funds will appear in your casino account within minutes, and you will be able to wage.
Bitcoin is a network that enables a new payment option that is entirely digital money. The payment system is decentralized peer to peer and is only powered by the users. There are no middlemen or central authority. Besides serving as an anonymous payment option, it is also ideal for online gambling. Bitcoin Casinos are casinos that use bitcoin as one or sometimes the only payment option for wagers. To use Bitcoin in these casinos, you have first to set up a digital wallet. The internet provides numerous options for this. However, ensure that you choose a wallet that is trusted and reliable. Now all you have to do is use the casino website and deposit funds from your bitcoin wallet.
First, Bitcoin by itself has not been made illegal by any country or jurisdiction. However, some countries such as Russia and Argentina have strict restrictions and ban against the use of foreign currencies. In some, such as Thailand, there is a limit on how Bitcoins are to be used, for instance, Bitcoin exchanges. Legislators and regulators in most countries are working to provide businesses and establishments with rules and regulations on how these system is going to work. Certain activities in Bitcoin transactions can be considered to be illegal depending on the country you are from. If a casino allows the use of these payment options, then the transactions will be legal as long as the casino is certified.
Gambling with Bitcoins rather than the use of currencies has many advantages. Winnings can be accessed as soon as you request for withdrawals. Other withdrawal methods such as bank and card take from 24 hours up to a week. Bitcoin, on the other hand, is instant since no approval is required from a third party. Anonymity is another merit of Bitcoins. Depositing or withdrawing from an online Bitcoin casino does not need your personal information as compared to other modes of payment. You can quickly pay and receive funds just by using your bitcoin wallet ID. Although hacks and online theft is commonly associated with Bitcoin, it is essential to note that this only happens to cryptocurrency and not in Bitcoin casinos. Gambling with Bitcoin is very secure.
Bitcoin is still a new entry in the casino industry. Some casinos are including it as one of the payment modes, while others are using it as the primary mode of payment. Since its introduction in 2011, Bitcoin's popularity has grown, among other payment options. Although you might find it difficult to find a casino that supports this mode of payments, this will change soon. Bitcoin is one of the few anonymous payment options. There is no control from a government or private agency on transactions, which makes it cheaper to use than e-wallets and credit cards that charge a 3% fee. Sometimes there is a minimal charge, but mostly transaction with bitcoin is free. Moreover, Bitcoin can be exchanged for real money also.