Anyone familiar with the advantages of Bitcoin may be tempted to look into Bitcoin gambling, with the aim of enjoying online casino games using this popular cryptocurrency.
Bitcoin gambling sites can provide players with flexibility, additional privacy and security, among a number of other benefits. Our Bitcoin Casino Canada guide will explain what Bitcoin gambling involves before introducing you to a number of Bitcoin casinos that accept players from Canada.
Top Bitcoin Casinos in Canada
Considering the sheer number of casinos that have opened their virtual doors to Canadian players, there are very few that actually support Bitcoin gambling.
If you’re interested in playing using Bitcoin (and earning Bitcoins if you win), then you should seek out one of these Bitcoin gambling websites and make sure that they are licensed and that they accept players from Canada.
How do Bitcoin Casinos work?
At Bitcoin casinos, funds are deposited into the player’s account in Bitcoin, and winnings are done in the same way.
There are two types of Bitcoin casinos: those that accept Bitcoin only, and those that support Bitcoin alongside other currencies.
At those Canadian casinos that accept Bitcoin alongside other currencies, players who make a deposit in BTC will have to choose a flat currency (such as USD) to use for the purposes of betting. They will still be allowed to withdraw using Bitcoin in the end.
Usually, Bitcoin-only casinos allow you to use an in-house wallet, where you can transfer your Bitcoins. Others, like Bitcasino, allow you to choose your own external Bitcoin wallet and use this wallet to deposit BTC straight to the casino. Of course, you need to purchase your Bitcoins from a crypto exchange first. Bitcasino recommends using the Kraken crypto exchange (kraken.com)
Once you have BTC deposited at the casino, you will then be able to choose from a variety of games and play them with your Bitcoins. Withdrawals are also done straight to your Bitcoin wallet, with very minimal transaction fees involved.
Typically, a Bitcoin casino offers other cryptocurrencies besides Bitcoin. These will include Litecoin (LTC), Ethereum (ETH), TRON (TRX) and Tether.
|Bitcoin||Bitcoin Cash||Ripple||Litecoin (LTC)|
|Ethereum (ETH)||TRON (TRX)||Tether||DogeCoin|
What does a provably fair Bitcoin casino mean?
Provably fair is a concept introduced to increase players’ trust in Bitcoin casinos. To keep our explanation simple, a casino that is provably fair uses a special algorithm to ensure the fairness (or random nature) of every game or bet.
Bitcoin casinos that are provably fair will provide a server seed as well as a client seed for players to verify. The seeds are combined with an arbitrary number (the bet ID), and hashed together. Then, players may view each bet and click on the bet ID to verify that the outcome was truly generated randomly by pasting the data into a verifier. In this way, you can make sure that the game outcome isn’t rigged.
What to do before joining a Bitcoin Casino
In order to gamble using Bitcoin, you first need to have a crypto wallet. Players can set up a Bitcoin wallet via a number of apps and websites.
Once you have a wallet, you must buy Bitcoins online or earn Bitcoins. You then need to set up an account on a cryptocurrency exchange, which is none other than an online marketplace where Bitcoin is traded in exchange for money or other digital currencies.
These exchanges will accept payments in various ways, including via credit cards and PayPal. You may also buy Bitcoin in person by finding bank branches or people who are willing to exchange Bitcoin for cash.
Apart from the possibility of buying Bitcoins, you can also get Bitcoins in return for completing odd jobs or tasks online, or, to get on to the subject of this article, by playing games at an online Bitcoin casino!
Bitcoin Casino Pros and Cons
Perhaps the main advantage of gambling with Bitcoin, as opposed to any other payment method, is the fact that there is hardly any red tape involved. This is because Bitcoin transactions are not regulated by a central authority or middleman; the cryptocurrency is all yours once you buy or earn it, and transactions are not controlled by third parties. This brings with it the following advantages:
- Payments will be very fast, and transaction fees will be very, very low.
- Because of the very low fees, Bitcoin casinos can offer bigger bonuses and higher rewards.
- Bitcoin uses very secure protocols – You will always have access to your payment history, and all transfers can be verified to ensure that the casino is operating in a fair manner. Crypto wallets are also highly protected, which makes it extremely difficult for hackers to break into your account.
- You can gamble with discretion – Bitcoin casinos will not request a lot of personal details, and will usually only ask you for your email address when depositing. That said, regulated casinos will ask you for an identification document as part of the withdrawal process.
- Low house edge – some Bitcoin casinos have their own gambling software, and since they have no banking fees, they may be able to offer games at higher RTP rates!
Disadvantages of Bitcoin gambling sites
The principal disadvantage of Bitcoin is, without doubt, the risk of fluctuations or high volatility in the value of Bitcoin. As with any other cryptocurrency, this is a risk you have to take into account.
Secondly, there aren’t so many regulated casinos that accept Bitcoin payments at the time being, since the anonymity that gamblers enjoy makes it harder to identify certain criminal activities.
What makes the Best Bitcoin Casino?
The best Bitcoin casinos are those that:
- allow you to play a large variety of casino games with Bitcoin
- offer regular bonuses and rewards
- provide 24/7 customer support
- are licensed by a reputable gambling jurisdiction, such as Curaçao or the Malta Gambling Authority
We recommend Bitcasino as the best Bitcoin gambling site for our Canadian visitors. Here, you’ll find 1800 high-quality Bitcoin casino games, including slots and live casino games, and enjoy 10% cashback and free spins for its existing players, as well as instant cash rewards with no playthrough requirements!
Your Bitcoin gambling journey starts here!
Bitcoin gambling comes with a number of advantages whose appeal is hard to ignore. As this cryptocurrency is becoming increasingly popular with gamblers, many more Canadian online casinos are expected to start accepting it in the near future, and Canada Casino will do its best to inform its visitors about any new Bitcoin casinos.
Make sure you visit our site from time to time to discover the next online Bitcoin Casino that is welcoming Canadian players, and start enjoying a secure and provably fair gambling experience!