Canadian online casino players sure have many cryptocurrencies to choose from and use, but Tether is one of the smoothest, representing a bridge between crypto and fiat currencies. With it, you can make transactions in an incredibly easy way, even if you’ve never been involved in crypto before. It is based on the Bitcoin principles, yet it includes other innovations that make it the most attractive crypto out there. What is Tether and why choose to use it as your payment method across Canadian online casino sites?
Top Tether Casinos
Launched in 2014, six years after the world’s first cryptocurrency Bitcoin, Tether is a cryptocoin with really unique features. When Tether Limited premiered it, it presented it as a digital equivalent to the US dollar, which immediately caught the attention of all crypto enthusiasts across the globe. In fact, its acronym stands for precisely that, USDT. The fact that it is the equivalent of one of the world’s top mainstream fiat currencies is what makes it one of the most stable coins on the market. Its value, contrary to all other cryptocurrencies, does not fluctuate! Well, it is not as volatile as other digital coins, even though, as you know, the US dollar’s value can go up and down, too, from time to time. Nevertheless, you shouldn’t expect gigantic leaps and your heart won’t ever skip a beat when you see its current market value, as no drastic changes ever happen to it.
Now, this means that you can purchase 1 USDT for the value of 1 US dollar. That’s because the solution is supported by the central banking system and authorities that control the value of fiat currencies. But since it also uses Bitcoin’s blockchain tech, it uses the Omni platform. And, it is even available on Ethereum’s blockchain and available as ERC20 token on its decentralized apps and smart contracts. You should know here that it can also convert to ERUT and CNHT, meaning have the same value as the euro and the Chinese yuan.
Containing the best elements of the crypto world, and knowing the influence on the online industry cryptocurrencies have, it is no surprise that this cryptocoin has had a smooth entrance in the world of online gambling. Online casino players are always among the first to experiment with both crypto and digital currencies, and the fact this solution represents the bridge between the two is what makes it so appealing. You, as a Canadian online casino player, can enjoy using it across multiple Canadian sites, as you’ll find it offered on the list of accepted methods, among the top cryptocurrencies. If ready to find out how to get started with it and use it for seamless deposits and withdrawals, stay tuned.
Getting Started with the Solution
We introduced Tether as the bridge, the medium, the pathway that converts fiat currencies into digital currencies and vice versa. We also mentioned some of the currencies it transforms into and the other way around. So, now, let’s see how you do all of that.
You could visit its official website first, to read more about it, as it transparently offers the full info on the cryptocurrency. While there, you can start the registration procedure. Press the Sign-Up button found on the website and complete the on-site registration form. You’d need to enter your full name, username, password, email address and country of residence, in addition to other basic information about yourself. After you accept the Terms and Conditions, you’d need to go through the verification procedure, and the next step would be topping your wallet with money.
As said, you can use US dollars, the euro and the Chinese yuan to do it, either via bank transfer or any of the other traditional payment methods offered. The amount you deposited will be transformed instantly into the equivalent of cryptocoins.
We should mention here that there will be a 0.1% fee for the fiat-to-crypto conversion charged. No other fees would apply, though, not for deposits or withdrawals or transactions you make with it. Except, however, in case you wish to make a reversal, which is subject to hefty fees. On the bright side, though, considering transactions are irreversible with all other cryptocurrencies, hefty fee or not, you’d still be able to reverse your wrong transaction with this cryptocoin, so that’s a plus.
Now that you know the essentials, you are ready to get started with it. After your wallet account has been verified and you’ve put money in it, you can start making deposits across online casinos.
Depositing and Withdrawing
Here at casinoreports.ca, you will find many casinos already reviewed and served to you on a platter, which accept the solution as a payment method, among which we can mention X1 Casino, Blazzio, Playfina, Winning Casino, and BetiBet. You’ll surely run across plenty of other options if you do your own little research. That’s because there’s a growing number of casinos that accept the solution. Just find the one for you and register your account with it.
To make a deposit with Tether, go through these steps:
- Head over to the casino’s Cashier/Deposits/Payment Methods page.
- Find Tether’s logo, the one shaped like a diamond with the letter T inside, and press it.
- Copy the casino’s wallet address.
- Log into your wallet and specify how much you’d like to deposit at the casino.
- Paste the casino’s address and confirm the transaction.
- Instantaneously, you’ll receive your coins on your balance.
Again, although transactions with it are reversible, you better double-check the details of your transaction here before you confirm it unless you wish to pay unnecessary, hefty reversal fees.
Withdrawals with the crypto are an option, and the same process would apply to the withdrawing procedure. Instead, this time you’d need to enter your wallet address and the amount you’d want to cash out from the site. After the casino confirms it, the transaction will be processed immediately and you’ll instantly receive your winnings.
We said that there’s a 0.1% fee for the fiat-to-crypto conversion you need to pay and a hefty reversal fee. We also said that no other fees apply, so this is still a pretty cost-efficient solution to use.
The reversal fee, although charged, is nothing compared to the fact that you have the possibility to reverse a transaction with this cryptocoin. This is something that no other crypto offers, so if you do the math, even though you’ll pay a fee, you’ll still be able to bring back a big chunk of your money. With any other crypto, your money is lost for good, all of it.
While as you could see, you won’t be able to purchase the cryptocoin using Canadian dollars, you can still use US dollars, Chinese yuan and euros to purchase your coins.
This may come as an inconvenience to you as a Canadian player, since you’ll need to pay a currency conversion fee to convert your Canadian dollars to US dollars or euros, for instance. But, in case you have a foreign money bank account, you can still use it and avoid paying conversion fees!
Tether is, as all cryptocurrencies are, a global solution, accepted virtually everywhere across the world. Canada is on the list of countries that accept crypto transactions, therefore, you’re good to go.
Sure, there are countries that do not allow crypto transactions and have even banned them, but you should not be bothered with that, since your country is one of those that have fully embraced them. And, there are some countries where this crypto itself is not available, but again, that does not concern you.
Tether’s official website is full of all kinds of details about it, and you have many different pages explaining in detail all possible outcomes of each step you make, so you can rest assured that if you have any questions about it, you’ll be able to find the answers there.
Make sure you go to the Contact Us page, and there, you’ll find a detailed FAQs section, with information on account access, verification, redemptions, fees, token recoveries and many other issues. You should find your answers there. There’s also an on-site contact form you could use to explain yourself and your problem, so do use it, too.
If you somehow don’t, you can always get in touch with your casino’s Customer Support representatives, especially if you have questions about deposits/withdrawals. They are usually available via social media, Live Chat, email, phone and an on-site contact form.
Even though you won’t be able to purchase Tether with Canadian dollars and you’d need to pay a small currency conversion fee to own some coins, this is still one of the cryptocurrencies you need to put on your must-have list. It is the bridge that connects the world of fiat and digital currencies, for one. Two, it is available in Canada and across the top Canadian crypto-supporting casinos. It can be used for both deposits and withdrawals, and its value is always stable, so there’s nothing that would impede you from at least giving it a try. That being said, the first chance you get, make sure you give it a run!
The solution is not available in Venezuela, the US, North Korea, Cuba, Pakistan, Iran, Crimea and Syria. Players from these countries have implemented some laws and rules against crypto, and that’s why the company behind this cryptocoin has decided not to offer it there.
It sure is. You will find it on Twitter, YouTube, Facebook, LinkedIn and Telegram. There are also communities you could join to find out more about it and support the cryptocoin yourself.
While previously, you could only use the ones we mentioned, as of recently, you can purchase coins using Great Britain pounds and Mexican pesos, too, as well as use gold. Whether some other options would be offered soon, remains to be seen.
Sure thing. This is one of the top solutions to use, especially as a player who enjoys transacting with both fiat and digital currencies, and that’s why it is offered across hundreds of international online casino sites.
You might. Many crypto casinos tend to offer crypto-specific offers, so you might find one that has an offer for Tether users. If not, you can always use the offers for crypto users in general, as there are plenty of such offers across top crypto casinos.