There’s no point denying that cryptocurrencies are some of the hottest payment solutions across online casinos nowadays, and EOS is quite the appealing one to consider. This is a special crypto that was designed to work on its own blockchain, improving crypto transactions as we knew. It was created with the purpose of making users’ experience better and safer, but above all, faster than with any other cryptocurrency. As such, it has gotten the attention it deserves from the online gambling industry and is now offered across the top Canadian casinos. Why choose EOS as your online casino payment solution?
Top EOS Casinos
This crypto’s history started in a really unusual way, actually. In 2017, Block.one, a small start-up company from the Cayman Islands launched a code for a cryptocurrency only, with the purpose of getting money from investors based on an idea of how the digital currency will work, without actually launching it together with the code. They sold the idea of building a highly scalable, open-source software that would be the hottest, the top in the crypto scene, offering better security and speed than any other crypto available to the day.
Giving investors only a promise, it looked like they would never succeed. However, they did! The fundraising became known as the ICO (Initial Coin Offering) Fundraising. Being so unrealistic, the ICO Fundraising was embargoed by many countries, China being the leader in this. Yet, somehow, Block.one managed to achieve its goal and raised $4 billion before its crypto was even launched actually! It really is a heck of a story, we guarantee you that.
Nevertheless, the start-up promised tokens through the new EOSIO platform, that would provide for the speediest crypto transactions ever, suited for dApps, too. The platform was supposed to be based on Bitcoin principles, but thanks to the dApps, its scalability would offer the solution to issues that most cryptocurrencies faced. Without seeing the final product, investors gave out their money anyways.
What happened next was, the startup couldn’t deliver the product on time, even though it raised high expectations when it comes to delivery. It postponed the launch and enraged many of the investors. They demanded Block.one to launch the tokens and the tech that goes with them immediately, at the same time.
While it still took a year for Block.one to deliver on its promises, in 2018, finally, the solution was launched. Investors feared for nothing, as this was a really ground-breaking tech and crypto. The startup stayed focused on development tools and building dApps that would further improve it and facilitate the crypto transactions on the blockchain.
The coins launched were incredibly user-friendly, and the service offered was truly remarkable. No wonder the solution became an instant hit with online casino players. Just nine weeks after it was launched, it became offered across the top online casinos, since it offered exactly what operators and players needed: speed, role-based security and guaranteed secure app processing. Operators were offered familiar programming languages and development patterns to use to create an improved experience for players. Instant transactions were what players looked for, and EOS provided them with that. The crypto started being offered as a top solution, right after giants like Ethereum and Bitcoin, so it really got a spot on top of the list of crypto solutions offered across online casinos. If you wish to get started with it across Canadian casinos, stay with us to learn all about it.
Getting Started with the Solution
Anyone, even those of you who haven’t ever used cryptocurrencies, can easily get started with this crypto. As said, it is incredibly user-friendly, so you’ll get started with it without putting in any effort.
First, you’d need to head over to any popular crypto exchange platform and purchase your coins. You can do that using any fiat currency, and any payment method offered on the platform, so you can rest assured that you can use Canadian dollars to complete the purchase.
Then, you’d need to create an account with a crypto wallet, to store your coins. Even though many crypto wallet sites exist, when looking what is the best site, you should opt for an eWallet, for easier access to your coins and seamless online casino transactions. So, just do a quick Google search and choose the wallet you’d want to go with; you’ll be surprised, but even Skrill and Neteller would be your options to use this crypto at.
However, at this point, you should know that many casino operators offer in-browser wallets you could use to store your EOS coins since they have integrated with the solution. So, you can skip looking for wallets, and get started with the solution as soon as you join an online casino. We’ll cover that next.
Depositing and Withdrawing
We said that some of the best Canadian online casinos are offering EOS nowadays. So, you’d need to choose the one you’d want to go with, from the many offered. As you will see, here at casinoreports.ca, you can find suitable options, such as 888Starz, Bet Spider, BitDice, LynxBet, and FairSpin, to name a few. These are all excellent operators that offer EOS, but you can find many others by yourself, by doing a simple Google search. Join the one that suits you most, and you’ll be ready to start transacting.
To make a deposit with EOS, you’d need to go through these steps:
- Head over to the casino’s Deposits/Banking page.
- Look for EOS in the offered payment methods and press its logo.
- Copy the casino’s address.
- Enter your wallet or simply specify how much you’d like to deposit if you’re using the casino’s in-browser wallet.
- Confirm the transaction and in an instant, your deposit will arrive on your casino balance.
Keep in mind that this is a digital currency, and as such, transactions with it are irreversible. So, before you confirm your transaction, make sure to double-check all the details, if you don’t wish to lose your coins.
EOS is offered for withdrawals, too, of course. The transaction will also be instant, and the procedure is pretty much the same as the depositing one. You’d need to copy your address here, though, and specify how much you’d like to cash out. The casino will need to go over your request, and if all is in order, it will approve it, allowing for your coins to arrive on your wallet in an instant.
The best thing about EOS, which we mentioned, is that it is incredibly affordable and cost-efficient, because contrary to most other cryptocurrencies, no fees are charged for receiving or sending EOS!
The protocol behind it, instead, substitutes inflation for transaction fees, by rewarding the entities that run the network with new EOS coins from time to time! What a bliss, right?
Any fiat currency and even some cryptocurrencies are your options whenever you wish to purchase EOS coins.
You’d need to check with the exchange platform of your choosing, but they are usually offering mainstream fiat and digital currencies, so you should be able to use Canadian dollars without any problems, on any exchange.
Being an open-source, decentralized cryptocurrency, EOS is available to anyone, from any place across the globe. That includes, of course, you as a Canadian player.
What’s more, since crypto is accepted and embraced in Canada, you will have no legal issues when it comes to using this digital currency across online casinos. Sure, there are such countries where cryptocurrencies are not an option, or even banned, but that’s not your case, so don’t worry.
You could visit the eos.io website in case you wish to discover more about the technology behind it and how the crypto works. We strongly encourage you to. There’s also a Contact Us page there in case you have any concerns, issues or questions about it, so you’d need to complete a form and wait for your answer. A thorough FAQs section is offered, too, so explore that page as well.
But, if you’re having problems with your transactions, you could try the casino’s Support service. Agents are usually available via Live Chat, email and even phone, so you’d get the assistance you are in need of pretty quickly.
EOS is definitely a crypto that offers something different when compared to other digital currencies. The speed and scalability it offers are out-of-this-world, record-breaking. That’s why the crypto is at the forefront of the crypto scene, offering users exactly what they need to make seamless crypto transactions. The fact no fees are charged with it making it the most appealing digital currency ever, so don’t hesitate to choose it as your payment method for instant and fee-free deposits and withdrawals across top Canadian casinos.
No, not really. Even though the startup was the mastermind behind the cryptocurrency, after it released it, it let it be controlled by the communities, like any other digital currency. Transactions, although validated by multiple parties, are still decentralized, with no one to oversee them.
Yes, they do. Just like with any other cryptocurrency, whenever you want to buy EOS, you’d need to pay a small fee to the exchange platform. While these fees are really small, you should be aware of their existence anyways.
No, not really. Considering its blockchain uses a proof-of-stake protocol, instead of Bitcoin’s proof-of-work, coins cannot be mined, but you can only purchase them across exchange platforms like Coinbase and Binance.
Yes, it sure does. This is a digital currency, which although quite innovative and speedy, comes with volatile changes in value. You’d need to be alert and check the market on a regular basis in order to get your coins at the best price.
As a matter of fact, there are plenty of Canadian casinos already offering the crypto, and new ones keep on adding it to their lists of accepted methods. So, in case you wish to get started with it, don’t worry, as you’ll have plenty of choices to consider.