Playing across international online casinos, Canadian players do not have that many methods to use accepted in their country, but Bitcoin is certainly one to consider. This is a global payment solution, which is entirely digital, that a Canadian player can use in the lack of other solutions, or by choice, considering this is a solution that has become increasingly popular in the past years. It is a digital currency and a payment system that works entirely different compared to the standard banking system and fiat currencies, and it was designed for more forward-thinking users.
What is Bitcoin and why use it across online casinos?
About Bitcoin
As introduced, Bitcoin is an entirely digital currency that made a boom across the world when it was first launched in 2008. It appeared somewhat controversial at first since it was launched by an unknown group or man calling themselves Satoshi Nakamoto, for one. Two, it offered something unseen at the moment, a fully digital currency that has no physical appearance; you cannot have it in your hands. That was outrageous, unseen, and unheard of at the time, and people were sceptic about using it. That’s especially because at first, it received a negative reputation, considering it was first being used across the black market, and people could not trust it.
Top Bitcoin Casinos
The other reason why it gained such a negative connotation is that it works on a decentralized blockchain system, which has no ties with the standard banking system people knew previously. The thing is, that’s precisely what the creator behind it intended, to make decentralized online banking which would facilitate the transfer of money online without being monitored by the banks and the governments, but to work on a peer-to-peer principle so that users can be the only ones who could see the transactions being made.
It involves no middleman, and no authorities can oversee the transactions being made, and that’s why forward-thinking, modern users were so fascinated by it. Thanks to their interest in it, the cryptocurrency quickly dusted off the bad reputation and received a steadier one, since people from across the world started believing in it and the concept behind it. And thanks to its underlying blockchain technology, which proved incredibly efficient for the effortless movement of money across the globe, its success grew immensely. When the ledger was revealed, where Bitcoin holders could transparently monitor the transactions being made, it proved that this is, after all, a trustworthy concept.
However, being a fully digital currency with no one to monitor it, it is still considered an asset and its value keeps on fluctuating. Compared to fiat currencies, which have way steadier value on the market, Bitcoin’s price goes up and down all the time, and that again is of concern to users.
Regardless, those who wish to take risks and are not afraid of its fluctuations, are really enjoying using it. So much that, in fact, they have made Bitcoin one of the most popularly used online payment solutions in the world. Millions are using it today for their everyday transactions, across all kinds of industries that support it, the online gambling industry included. In fact, the cryptocurrency has been embraced by most top online casinos, so you can rest assured that, should you decide to use it, you’ll have plenty of Canadian casinos to explore and choose from. So, let’s go over the steps you need to make to start using it for safe and fast deposits and withdrawals.
Getting Started with the Solution
In the past, when it first appeared, Bitcoin coins were mined. The mining was a process where miners would solve mathematically difficult problems to be awarded a few coins. However, this process required expensive equipment, cost a lot of energy, and in short, was a really expensive way of acquiring coins. Luckily, today, you have many easier ways to get coins; you can even purchase them with fiat currencies. But let’s go through all the steps you need to make before we get to that part.
First thing first…
…you need to choose the wallet type you’ll use and create a wallet to store your coins. You can choose hardware, mobile, desktop, paper and eWallets to use, but the most convenient for you as an online casino player would be the eWallet. You will find many exchange platforms where you could create your crypto wallet, such as Coinbase, Bitstamp or Bitfinex. You’d need to visit their website and provide the needed details to create your wallet. Once you do, you’ll get two addresses, known as the public and private keys. These are the addresses you’ll need for transacting with the solution. One would serve as a location when receiving coins and the other one as a password for accessing your wallet and sending money, to be further explained below.
Now, on the previously mentioned exchange platforms, after you’ve created your wallet, you’d be able to instantly fund it with coins. You can purchase the coins with any fiat currency, by entering the desired payment method, be it a credit card, a debit card or some eWallet, from the ones offered. After you complete your purchase, your coins will be on your wallet, ready to be used.
Depositing and Withdrawing
We mentioned, but we cannot emphasize enough, that Bitcoin is accepted across every single top-performing online casino. You’ll certainly find it across at least a dozen popular Canadian sites, that’s for sure. So, you won’t have any issue finding one that would suit you to start depositing with the cryptocurrency. Just join the site you chose and you can start the depositing procedure right away.
To make a deposit with the digital currency, go through these steps:
- Head over to the casino’s Cashier/Payments/Deposits section.
- Find Bitcoin’s logo from the list of offered payment methods.
- The casino’s public key address will be displayed here, and you need to copy it.
- A new window will open where you need to log into your crypto wallet.
- Paste the casino’s public key in the designated field.
- Specify how much you’d like to deposit.
- After double-checking the address and the deposit amount, confirm your transaction.
- The coins will arrive on your casino balance in an instant!
Step 7 says to double-check the address and the deposit amount, and that’s because you must remember that transactions with this cryptocurrency are irreversible. So, one wrong number or letter, and the coins will reach an entirely different destination without a chance to be refunded.
While deposits with Bitcoin are instant, withdrawals can either be instant or take a few hours, depending on the casino you’ve chosen. The procedure for withdrawing is similar, only this time, when you request a withdrawal, you’d need to specify how much you’d like to withdraw and paste your wallet address in the designated field. That way, the site will know where to send your coins. Remember that double-checking the address is crucial if you wish for your winnings to arrive on your account problem-free.
Applicable Fees
Some hefty blockchain fees used to be charged in the past, but today, Bitcoin is one of the most cost-effective payment methods to use for online payments.
There’s only a small, basic transfer fee you need to pay, and depending on the exchange platform you’re using, some fiat-to-crypto fee may apply. Transactions are actually fee-free, plus online casinos never charge additional fees for using crypto, so you can rest assured that this would be the most convenient solution to use for deposits and withdrawals.
Accepted Currencies
Bitcoin is a digital currency itself, but as you could see, you can use different fiat currencies and even other cryptocurrencies to purchase your coins.
All the world’s fiat currencies can be used for purchasing coins, so the Canadian dollar is certainly your option. The most popular exchange platforms offer a lot of crypto options, too, so make sure to explore them all to know your options. For instance, you can purchase Bitcoin using Ethereum, Cardano, Litecoin and Bitcoin Cash, to name a few.
Coverage
Now, we said that Bitcoin is a global solution, virtually available everywhere across the globe. But due to its digital-only form and decentralized nature, you should know that some countries have banned its use.
Canada is not one of those countries, no worries, even though it had some thoughts of taking the anti-Bitcoin stance a few years back. But you should know that, for instance, Russia, the United Arab Emirates and Saudi Arabia have banned it for good, not only for online gambling purposes.
Customer Support
Considering Bitcoin is not owned by one company, there’s no one really behind it, it functions on the peer-to-peer system and the blockchain technology, so there’s no actual Customer Support team to turn to in case you’re troubled with something.
However, there are several useful sites…
…such as Bitcoin.com, where you could learn more about the solution. Some of the most well-known crypto exchanges in Canada, such as Binance Canada and Netcoins, also offer guidance and user-friendly purchase options, thanks to which you could easily get started with the solution.
In case you need actual assistance, though, you know that you can always contact the casino’s Customer Support team, as its agents are trained to assist players with any payment method available at the site. They can even provide support and show you the easy and fun ways how to use the crypto for deposits and withdrawals.
Conclusion
Bitcoin is, without a doubt, an unusual payment method to use, however, it does offer some perks you cannot dismiss. First of all, it is a decentralized solution that offers near-instant deposits and withdrawals across online casinos. Secondly, it is one of the most cost-efficient methods to use, thanks to which you’ll have more to play your favourite slots, roulette, and video poker games with. Thirdly, it is quite easy to use once you get a hang of it. And last but not least, it is accepted across most Canadian-friendly online casinos available.
Sadly, it also has downsides, the most significant being its fluctuating value. The second disadvantage is that transactions with it are irreversible. Therefore, you’d need to weigh all the pros and cons to decide whether this is a method you could use. If it is, you’ll find it an incredibly convenient solution for online casino transactions.
FAQs
Are there any Bitcoin-only Canadian casinos I could join?
Sure! Some Canadian casinos have fully embraced Bitcoins as their default and only payment method, and such casinos even offer Bitcoin games. You won’t find that many casinos like these, but there’s a decent choice to explore and choose from.
What happens if I send coins to the wrong address?
Unfortunately, if you sent the coins to a wrong address, you can never get those coins back. That’s why it is crucial to always double, triple-check the address before confirming the transaction.
Are all casinos that accept the crypto entirely based on blockchain technology?
No. In fact, there are such casinos that offer both crypto and fiat currencies and traditional payment methods, so whenever you want to, you can switch from playing with crypto to playing with a credit card, for instance.
Do any transaction limits apply when using the crypto across Canadian casinos?
Canadian casinos have the right to impose transaction limits, and most of them do, so you’d need to be really careful when choosing a site to join. On Bitcoin’s part, however, no transaction limits apply and you can send and receive as much as you want to.
Can I use mobile devices to transact with this cryptocurrency?
Sure! This is a digital currency which can be moved online with whichever device you want and have. No matter whether you’re using an iOS or Android-powered device, you can rest assured that you’ll be able to smoothly make your transactions with this crypto.
Bitcoin is the o. g. of the gambling scene. But sending it the o.g. way , via bitcoin network, is painfully slow and painfully expensive comparatively nowadays. Now, if you have the option to use the lightning network, that's like , no fees, and practically instantaneous. It's just not widely used (yet) . So, it's kinda a mixed bag now.
Bitcoin has been an extremely reliable payment option for funding basically all of my online casino accounts. Although slow, BTC remains the most reliable option and most widely accepted method for funding my accounts. The only downside associated with using BTC besides it being on the slower side of the crypto payment methods, would have to do with the fees associated with the transactions. Depending on your source for obtaining BTC. I receive a fee for purchasing BTC and then when I want to convert BTC into US currency. Otherwise, I will often use BTC for funding my accounts.
Bitcoin and other cryptocurrencies is a payment method that has not been widely integrated in licensed UK casinos, although it is a popular option with unlicensed casinos due to ease of use and increased privacy I wouldn’t recommend this method for UK players as there are many licensed casinos with good reputations to use, a payment method shouldn’t be the sacrifice to use an unlicensed casinos
Bitcoin, like all other cryptocurrencies has the major advantage of fast payments. However, these days, transaction fees on the Bitcoin blockchain are usually very high... The Lightning Network, on the other hand, is better and faster.
Bitcoin is in if course the most valuable crypto but most expensive don't always mean better because it's not faster safer more reliable than some there for that makes Bitcoin good but not best
Bitcoin is not very profitable in terms of transfers between wallets, especially if the transaction amounts are not huge. But in general, it is certainly one of the best coins and, surprisingly, very profitable. But I would not use Bitcoin to store money, the fluctuations in terms of +- prices are too sharp
Bitcoin deposit/withdrawal method is great. Best of this method is that most of money movement are instant. I have never faced any problems with bitcoin method. If you like to play outside Europe better to use bitcoin method than any other. All of all, really good method
Can really be a pain in the bum if there’s a lot of traffic in the network. Slow processing times and expensive fees to process. Depending on where you purchase, some apps like Cash app will bend you over, once because you bought and another because you’re trying to send it. Even if you pay for the fastest processing, (almost 3.00 to send 100 bucks, and they say it will arrive “~20 minutes”, meanwhile, I’ve waited almost an hour and they will not refund). I love bitcoin for holding, but it’s not my preferred for sending.
Bitcoin lightning is where it's at. will never pay CC fees again
I always use BTC, if BTC lightning is available then I will always use that. Transactions for deposits and withdrawals are instant and no fees either. This would be my first recommendation to use for your crypto deposits and withdrawals. Very dependable fast transactions
I love using bitcoin, the longest I have ever to wait for a withdrawl using this form was 15 minutes. They always say not to use cashapp but i think i have several times and never had an issue.
Quick and convenient. I travel all over the states when I'm up enough. I see many bitcoin commerce machines in each state.
Bitcoin is definitely great for what it is but as a gambling currency, I think it absolutely sucks. The transactions are extremely slow, things just take a really long time and I don’t mind. It’s just easy to pop in and out. I would definitely look at other crypto coins for casinos.
Bitcoin will always be the head honco of cryptocurrencys as it was the first crypto to gain attention. It's a great way to fund your online casino accounts as it secure and reliable. I've used it for awhile now the only real drawback is the time it takes for a transaction to confirm on the block chain especially if your fee isn't high enough and your transaction keeps getting bumped out the current confirming block plus the fees to complete transactions can skyrocket depending on the activity of the block chain at any given time. Because of those factors I use Bitcoin only some times. But with the adaption of lightning Bitcoin things have gotten better but not every where has adapted to lightning network so I wish there would be more adaption of this technology.
Bitcoin seems to be the most widely accepted cryptocurrency amongst all the sites but lately their gas fees are very exorbitantly priced compared to what they were a few years ago! I do like Bitcoin Lightning but not as many sites accept that version.
Started with Bitcoin while I used cash app, that was a total waste, switched to a crypto account/wallet, a little better but not much of a fan at this point. I may be confused, but if I can track btc transfers on the blockchain so can everyone. From what I saw it looks more like "washing" than anything else.
Crypto is so far the fastest and hassle free form of transaction for online casinos. And Bitcoin is specially the most preferable without a doubt as simple apps like cashapp and PayPal could be used.
I find that bitcoin is fairly easy to use. And if you have lightning bitcoin its even easier and much faster process. Fees arnt too bad and its pretty fast
I am only rating this a 1 because I think bitcoin is very confusing to use. I dont get the whole third party thing and actually selling your bitcoin for actually monies. I wish I did understand this because there's a lot of options out there to receive payment through bitcoin.
Bitcoin was one of the best-performing investments for almost 2 decades, but there are some concerning things: 1. There's a theory that it might have been created by the CIA 2. Banks are doing everything they can to ban it 3. Larry Fink initially said that he's going to crush Bitcoin, and then he changed his mind and created BlackRock's BTC ETF. Even though BlackRock's ETF is having a positive impact right now, I have a feeling that Fink made the ETF to gain control over Bitcoin. There would likely be a USD crash, which would increase the value of bitcoin again because people will allocate their savings there. If this happens, I'm almost certain that he will try to crash it.
Great read! It’s fascinating how Stake.com helped shape the crypto casino scene by embracing Bitcoin so early. The speed, privacy, and low fees of crypto really do make it a game-changer for online gambling.
Bitcoin is very fast and usually, depending on the casino, is in my account and ready to use within an hour at the most. It's my third preferred way of depositing and withdrawing. Usually deposit with lightning Bitcoin and withdrawal with Litecoin but if I go over my limit of lightning Bitcoin I deposit and regular Bitcoin and just pay the fee to have it go through quicker.
So I actually don't ever use Bitcoin, even though it is the most popular crypto, only because of its price, as far as functionality I have other choices. It fluctuates entirely too much to be worth using for me, but it's fast and acceptable to anywhere that takes crypto, so maybe one day I might get into using it
Bitcoin was the first crypto currency I started using for deposits but switched to litecoin when I noticed less fees and faster deposits and withdrawals. Using cash app the fees are insane. Coinbase is my current go to wallet for crypto,. Definitely less fees and very straight forward.. but I would definitely choose bitcoin over a credit or debit card deposit
I’ve been using Bitcoin for over 10 years and did a few casino deposits and withdrawals with it. While it’s quite convenient, the transaction fees for BTC have gotten higher and can sometimes be as high as $10, plus it can take up to an hour for the transaction to be confirmed. A good option, but there are some better cryptocurrencies out there now.
BItcoin is a great way to deposit money or withdrawal. Just beware of fees involved. but it has been a great for me so far. no big complaints. I have been using ltc more often as of late.
not terrible, but there seems to be a lot of fees compared to ltc. and at least for me, it takes a lot longer to confirm and have funds available compared to ltc, I use coinbase so im not sure if its the platform or what but its a second choice for me
Btc is a great deposit method when the coin is doing well on the exchanges. If you your lucky enough too get a nice win and the coin also increases in value then it feels like a double win
I am very satisfied with the casinos that allow deposit and withdrawal of bitcoin, it is very professional and fast, it does not take time like casinos KYC verifying everything, I feel bored with that kind of casino. From the perspective of the position of deposit and withdrawal at casinos, I still appreciate bitcoin as good.
Bitcoin is the way to go I especially like Bitcoin. Lightning. It's instant an there really no fee to send it unlike native Bitcoin. It makes it easier to keep track of everything
Well, bitcoin may have fallen out of favour in place of some newer coins. It Remains an excellent choice due to his low transaction fees and fast processing now with the addition of the lightning network you can make near instant transactions with virtually zero fees, making it once again a top choice for depositing and withdrawing
Using Bitcoin as a banking method is a great choice for those who value privacy and faster transactions. The decentralized nature of Bitcoin allows for quicker deposits and withdrawals without relying on traditional banking systems. It also adds an extra layer of security, which is important when gambling online. I love how more and more casinos are integrating Bitcoin, making it easier for players to fund their accounts and withdraw their winnings with fewer delays. Definitely a convenient option for crypto enthusiasts!
Bitcoin is without a doubt my favorite option for depositing and withdrawing at casinos, although confirmations are taking longer and longer to be processed. Here in Brazil we have other options, but for international casinos the best option is Bitcoin.
As far as I'm concerned depositing with anything outside of crypto, you're allowing unnecessary risk into the equation. Plus crypto deposits and withdrawals are ge really SIGNIFICANTLY faster than traditional fiat methods
The volatility of Bitcoin is a drawback, as is the great lengths the money must be titrated down to be played with. High fees and slow transfers are also a problem. On a good note, there are countless bitcoin ATMs that allow for easy anonymous deposits, but find one that does LTC as well and use that.
Bitcoin has several notable downsides that can make it less appealing for users. One of the main issues is its extreme price volatility, where values can swing dramatically, leading to uncertainty for users and investors. Transaction speeds can also be a concern; during high demand periods, transactions may take longer to process, causing frustration. Additionally, the technical complexity of using Bitcoin can be a barrier for those unfamiliar with cryptocurrencies. While it offers a degree of anonymity, transactions are not fully private, as they can be traced on the blockchain. Lastly, Bitcoin mining consumes a significant amount of energy, raising environmental concerns. These factors contribute to a perception of Bitcoin as a risky and complicated option for everyday transactions.
Bitcoin was the game changer. As soon as I was able to start sending Bitcoin. It made playing at these sites a lot more easier. I think the best part was how fast the withdrawals were. Nowadays the transaction fees are too expensive and it just takes too long for my taste. I try not to deal with Bitcoin at all anymore but I'll never forget that it completely changed the game of I try not to deal with Bitcoin at all anymore but I'll never forget that it completely changed the game
Why I like bitcoin to use with casinos. 1:Bitcoin gambling platforms use blockchain technology to provide a transparent, decentralized, and secure gambling experience.2:Some Bitcoin casinos offer a welcome bonus for first deposits.3:There is no federal law in the US that prohibits gambling with Bitcoin, but some state laws do .
I used to deposit with Bitcoin all the time, but lately, it’s just not worth it. The minimum transfer amount keeps going up, and the fees are getting ridiculous. Every time I try to send BTC, I end up paying way more in transaction costs than I would with other cryptos. It’s frustrating because it used to be a great option, but now I’d rather use Litecoin or another altcoin that doesn’t eat up so much of my money just to move it around.
Bitcoin is gradually getting accepted in most casinos, I tried using it for the first time and it was quick and easy. I recommend to everyone, not just for depositing and withdrawing but for your general investment purposes. Though it has it's pros and cons but it's worth trying out.
My personal opinion in using bitcoin is your wasting your money.. fees and deposit time is a huge turn off for me to want to use this ever. Last 2 time I withdrawn using this it took hours for the needed confirmations to show and appear in my wallet compared to something like Litecoin.
Bitcoin can be a fantastic way to deposit and withdraw money from online casinos. It retains value and is univerally accepted at all cryptocasinos. However, it has a few drawbacks that prevent me from making it my go-to cryptocurrrency. I don't enjoy the rather high minimums for sending bitcoin. Some platforms such as paypal require you to send at least $100+ in bitcoin and it also seems to have higher than average fees attatched to it. Additionally, it seems to take a bit longer than some crypto transactions such as litecoin, for example.
I can't for the life of me understand the reasoning behind using any payment method other than Bitcoin and/or all other crypto parent options. They're secure, fast, easy on top of these, it generally eliminates many of the casinos excuses to delay or even not to payout your winnings
Idk how many times I've said the exact same thing. Especially in some of the shady ones I use but hear about support team stealing funds... Crypto prevents that from ever happening or someone even considering doing that!
bitcoin as a payment method, in my opinion, has a lot of advantages, if only for the reason that bitcoin is a commodity mostly with increasing value, it is a safe payment method that is on the rise these days and more and more casinos accept this payment method , I just recommend everyone to try it, great experience
since money changes value each day having a crpto wallet and playing online casinos has become common place. The bitcoin i like to use is normally on every online casino website. The payments are allows safe and easy,along with payouts. And i normally tell my friends to use crypto to send and receive money on a daily bases.
I think is a really good way to withdraw or deposit I did had one time a big trouble that when I withdraw the money on bitcoin I put the bitcoin sv and I lost the money but was my error I di learn how to use it but I don't have complain I like it. I recently started using Crypto.com and have been thoroughly impressed with the platform. The most impactful feature for me has been the ease of use, making it accessible for even those with limited knowledge of cryptocurrency. The platform is constantly updating with new features to enhance the user experience
Bitcoin can be useful for making payments. A few downsides i notice is the amount of time it takes to process payment is longer then using cards. If you already have and use bitcoin then this may be ideal way to pay. For new users of crypto it may not be an ideal way to pay. I like using it myself. I have only had a couple issues. Crypto sites tend to default to using this.
I used to be 100% BTC for deposits, then after I tried the quickness of LTC, I won’t go back.
Using cryptocurrency at online casinos makes for a seamless and secure experience. The low transaction fees are a plus making it cost-effective. Overall, using cryptocurrency to deposit and withdraw is hella convenient
Bitcoin's been around for a long time and as a result it's gotten very expensive as far as trading and sending. The only really positive thing about it is that it's accepted pretty much everywhere! I recently was informed About Litecoin and have been using it instead. It's not as widely accepted, but a bunch of places are starting to take it.