Bitcoin (BTC) is a digital currency that allows you to pay for things online like you would with CA dollars just like any other currency. The big difference is that BTC is decentralized, meaning it does not exist in the "real world" nor does it have a centralized bank. This means it's incredibly friendly to merchants and customers alike that want to purchase goods and services across country borders without having to convert from their native currency or figure out the tax implications. Today, BTC is used by hundreds of thousands of customers and businesses around the world.
Many of those business are Bitcoin online casinos, which Canada players have taken to for their lower house edges, quick transaction rates, and lack of limitations regarding the player's country of residence. Using it at Bitcoin mobile casinos is easy, too, and we outline the specific steps to begin playing below.
One main reason so many Canadians choose to play at Bitcoin casino online in 2017 is the added layer of anonymity and protection using the currency provides. Using BTC, there is no direct interaction between your bank account and the gambling venue. This means you can play the best table and slot games online for real money without giving any personal or banking information to the gaming site.
Since BTC is universal and has no centralized management agency, it also means it's easy to convert your CA dollars into BTC without being charged any heavy conversion fees. While the setup time is slightly longer than simply using a credit card to make a deposit, the transaction times for both deposits and withdrawals are faster than most competing transaction methods.
One great advantage of playing at a Bitcoin casino online is the overall lower house edges. You'd be hard pressed to find a good BTC casino that has an edge much higher than 1%, and you can find many top online casino Bitcoin sites with percentages ever lower than that. This means that when you play you stand to win much more money in the long run than at most traditional online gaming sites.
Another pro of playing on BTC sites is that their games are provably fair. Because the games that run on these sites have transparent algorithms, there's no way for the sites to unfairly manipulate the game against the player. However, that gets us into the main con of BTC casinos: since it's still a burgeoning market, there are much less games to choose from versus if you were playing with traditional currency. Given its popularity however, expect this to be less and less of a problem in the future.
Even though there's a few more steps involved with using Bitcoin to play online table and slot games, it's still an easy process (and totally worth it if you ask us). First, you'll have to get a wallet from a site like Bitcoin.org. There are many different types of wallets, which all have their own pros and cons. Bitcoin.org is a great resource to decide which one is right for you.
Once you download yours, you'll need to get some Bitcoins. The simplest way to do so is have a friend give you some or purchase some through online BTC exchanges like Coinbase. Once you have bought some BTC and they appear in your wallet, go to a top Bitcoin Canada casino (such as the ones we recommend here) and register a free account like you would any other site. Choose Bitcoin as your deposit method, choose how much you want to deposit and you are then ready to play real money table and slot games right away.
Bitcoin (BTC) is an entirely-digital currency (or 'cryptocurrency') you can use to pay for products and services online. BTC was invented by an anonymous programmer back in 2009 and today the currency has a collective value of over $1.3 billion Canadian dollars.
Most people just buy Bitcoins from an online store that sells them. Before purchasing BTC, you'll have to have a digital wallet to store them in, of which there are many that are mostly free to download to your computer, smartphone, or tablet. You can also do what is called 'mining', which involves connecting a computer to a BTC network that generates new bitcoins. These are released to miners at a rate that doesn't flood the market and devalue the currency.
Once you have topped up your wallet, you can then use them just as you would real money in an e-wallet at good online casinos accepting Bitcoin, or anywhere else the currency is accepted.
Yes! Bitcoin gambling payments are one of the latest trends in the industry, and countless Canada players and home and around the world enjoy the conveniences of playing.
Since most countries don't have laws against Bitcoin gambling, there are now plenty of great BTC casinos out there allowing you to play real money slot and table games with the currency.
Yes - Bitcoin is one of the most secure and safe ways to gamble online.
Because most Bitcoin wallets would require someone to have both the physical device your BTC are stored on as well as your login information, it's near impossible for someone to 'hack' your BTC without being in the same vicinity as you and your device.
Deposits to most Bitcoin mobile casinos and desktop sites are as good as instantaneous.
Withdrawals to your wallet typically take one business day, which is quicker than most other withdrawal methods.
When you use BTC for the first time, there are some extra steps you must take (like getting a wallet and purchasing BTC) that don't make it quickest method for new players.
However, everything else Bitcoin does is on par or better than its online transaction competitors, including its deposit and withdrawal speed and security.
Bitcoin's value is always fluctuating, much more rapidly than your typical national currencies. Thus, the price of purchasing BTC can be very affordable one week yet fairly expensive the next.
Beyond that, BTC casinos themselves have low or non-existent fees for deposits and withdrawals.