Cryptocurrency is the latest invention among payment methods worldwide. While it is still new, many countries have adopted it as a legal currency. Many casinos have incorporated cryptocurrency as the main banking option for online gambling. There are already several types of cryptocurrencies in the market, and many casinos prefer using them as the primary mode of payment because they are not regulated like other currencies. This page reviews some of the best cryptocurrency casinos you will find around your region.
Top Cryptocurrencies Casinos in Canada
Online casino
Promotion
Play Now
Jackpotcity
100% match bonus for the 1st, 2nd, 3rd, and 4th deposit - Sign up today!
Top Crypto Wallets
Below are some top crypto wallets you will come across in Canada:
Crypto.com - this is a cryptocurrency exchange that offers a native coin. It allows online casino players to trade cryptocurrency by providing a buy or sell platform. It is highly secure and gives players full authority over their assets and private keys. While this wallet applies transaction fees, you can use the app to avoid the charges.
Bitbuy - this platform works by creating wallets in user accounts. Here, online casino players can store their digital currency securely. However, you are advised to withdraw off your Bitbuy account to a software wallet or external hardware, especially if you plan to hold long-term. The benefit of Bitbuy is that your BTC balances are insured.
Binance - this wallet is an extremely safe exchange for Canadian players who are engaged in the active crypto exchange. However, this platform is not recommended if you want to hold huge crypto amounts long-term. Fortunately, you players use the Binance wallet for fiat withdrawals through different banking platforms using bank cards or through the Bank Transfer SWIFT option.
Coinbase - players have full autonomy over their private keys and have full control over their cryptos under this wallet. Canadian online casino gamblers can store their private keys on their mobile devices and not in a centralized exchange. Unfortunately, Coinbase charges high fees because of the high mining fees for bitcoins which are calculated based on supply and demand.
Exodus - Crypto enthusiasts who are just starting their journey will love this wallet. Exodus is a decentralized exchange; thus, players are not charged any fees for sending or receiving crypto. Players can carry out various transactions on this wallet, including buying, exchanging and staking cryptos. You can also win interest on Bitcoins. Exodus is a single platform where casino players can manage all their digital currencies and collectibles.
Pros and Cons
Cryptocurrencies have caused a storm in financial circles and will soon be a mainstream payment option in most casinos. This digital currency has various advantages, although it also has underlying disadvantages.
Pros
- It is safe and secure due to anonymity
- Transactions are very fast compared to traditional banking platforms
- There are minimal fees charged
- Not regulated by any authority
Cons
- The value of the currency is highly volatile
- Not yet a mainstream payment option
- It may be difficult for some players to understand blockchain protocols
Banking
You can use cryptocurrencies for deposit and withdrawal transactions. As long as the casino accepts this option, go ahead and register an account. You will discover the difference, especially in the transaction times.
How to Deposit with Cryptocurrencies
Depositing in a casino account using cryptocurrencies is one of the simplest things you will encounter. Before you deposit, make sure the casino is acceptable in your country. Also, ensure the casino accepts cryptocurrency as a deposit method. Players should review the terms and conditions to understand what they are getting into. Lastly, check whether the currency's value favours you because it keeps fluctuating. We have a list of top cryptocurrency casinos where you can open an account.
The deposit process involves a few steps, as you can see below:
Step 1: Log into your profile in your favourite casino
Step 2: Navigate to the finance section and select the 'Deposit' option
Step 3: From the list of options, choose cryptocurrency as your payment method. You may also choose a specific cryptocurrency, including Bitcoin, Ethereum, Dogecoin, etc.
Step 4: Enter the amount for which you want to purchase the cryptos
Step 5: Press the 'Deposit' button to complete the transaction. Your account will be credited instantly.
How to Withdraw with Cryptocurrencies
If you are lucky to win some bets and rewards from bonuses, you definitely need to withdraw them. The withdrawal process is equally easy. However, there are a few things to consider before initiating this process. First, check the value of the cryptocurrency and establish whether it is profitable at the time of withdrawal. Secondly, ensure you have fulfilled all the wagering requirements for the bonuses. Also, exhaust all your bonuses because the casinos will not allow you to withdraw the money.
Below is a guide on how to withdraw your winnings using cryptocurrency:
Step 1: Access your casino profile
Step 2: Go to the cashier's page and click on the 'Withdraw' button
Step 3: Select cryptocurrency as your favourite banking option for the withdrawal
Step 3: Enter the amount to withdraw
Step 4: Click on the 'Withdraw' button to complete the process. The amount will reflect in your wallet within a few minutes.
Safety and Security
Online security is paramount for all players. Players and the casino must ensure that player information does not leak to any unauthorized user because it compromises safety. Cybercriminals are always looking for a chance to steal and misuse this information.
Players need to undertake various practices to stay safe online. First, always change your account password regularly or whenever you notice uncommon transactions on your profile. You should also keep deleting your transaction history from your device because another user may access it. Lastly, do not share your IDs and account passwords with anyone else.
On the part of the casino, the first security measure is to acquire a license by committing to safe standards. A licensed casino will definitely promote responsible gambling and refrain from extorting money from customers. Most casino operators have incorporated encryption technology to protect player data from third-party access. Despite the anonymity of cryptos, some fraudsters may access your personal information.
Alternative Payment Methods for Cryptocurrency in Canadian Casinos
If you prefer using other payment methods rather than cryptocurrency, casinos in Canada give you this opportunity. Check the table below for alternative payment methods.