If you are looking for a fast, cheap and highly secure transaction process when gambling online in Canada, Bitcoin is the perfect choice. Bitcoin, the most popular of all crypto-currencies worldwide is an option available at a selected few casinos for deposits and withdrawals.
According to James Canning, the webmaster of Bitcoin Betting, 50% of Bitcoin transactions around the world have been for online gambling. This is because Bitcoin is quicker than established banking, it uses security protocols and has low-cost fees. Gamblers in Canada can gamble online using Bitcoin at top-rated CA casinos. Read on.
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What is Bitcoin?
Bitcoin is a digital cryptocurrency which doesn’t exist in the physical world. A specific software and hardware is used by its miners to approve all exchanges between wallets. This is done to authenticate transaction integrity and also to process very complex algorithms which are responsible for releasing new bitcoins onto the market when solved. No government backing or central authority is involved in the Bitcoin market. This legitimate payment method continues to be used by businesses including top-ranked casinos online across the globe.
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To get started using Bitcoin, you first need to create a Bitcoin wallet. There are a couple of reliable exchange websites where you can setup a BTC wallet and purchase bitcoins such as virvox.com and local bitcoins.com. Just be sure to make a thorough research before you do so.
More so, there are three wallet types for Bitcoin; Online Wallets, Software Wallets and Hardware Wallets. Canadian players need to be aware of the wallet type they choose. You can actually lose all of your Bitcoins if your wallet is not backed-up. Also, CA players can exchange Bitcoins among each other via their wallets.
Different Types of Bitcoin Wallets:
- Online Wallet
This is a web-based wallet whereby a third party or Bitcoin wallet provider essentially backups for your wallet on a cloud server, and gives you an option to do so yourself. This Bitcoin gambling wallet is recommended for beginner online casino users.
- Software Wallet
The software wallet is for intermediate casino players. Essentially, the software is stored in your own computer and requires that you perform the backup manually.
- Hardware Wallets
Hardware Bitcoin wallets are considered the most secure among all BTC wallets. A special piece of software which usually connects into your computer via USB is used to access your Bitcoin wallet. Just as the Software Wallet, this wallet is backed manually. It is recommended for gamblers who are storing large amounts of bitcoins.
To start gambling using Bitcoin is super easy. First, you will need to setup an online casino account (you can choose any top CA Bitcoin casino from our recommended list above).
Make a Deposit
Once you are ready to make your first deposit, the casino will send you a temporary Bitcoin wallet which will be associated with your online casino account. For this you need to select the ‘Bitcoin’ option as your payment method at your preferred casino cashier.
The minute you click on ‘deposit’, the Canadian online casino will send you a unique long text which you will need to input in your wallet. Your next step then is to choose the amount that you wish to deposit and confirm the transaction. Then it’s done, that’s how simple it is.
Bitcoin Casino Withdrawals
Withdrawing using Bitcoin in Canada is not a difficult task, at all. All you need to do is determine how much of your CA casino game winnings you wish to withdraw. Then enter the public address of your Canadian Bitcoin wallet in your withdrawal transaction using either a QR code or long text code. Your next step is to confirm your details and amount to process the transaction.
If you wish to convert your Bitcoin winnings to real CAD$ you can sell them through a Bitcoin exchange or a buyer. Try out Bitcoin gambling at our recommended Canadian online casinos above for the best Bitcoin gambling experience.
Advantages of Bitcoin Gambling
Gambling using Bitcoin comes with a lot of advantages, there are many Canadian bitcoins review online and several exclusive bitcoin casinos. In summary these benefits for using bitcoin online payment at online casinos include:
- Free transactions
- A wide range of games (including exclusive Bitcoin games)
- Tight security
- High odds and payouts
- Transparency and anonymity
Online Gambling at Canadian Bitcoin Casinos
Bitcoin casinos permit Canadian online casino gamblers to play their desired online casino games in anonymity. Furthermore, it’s available worldwide to any player and many online casinos Canada real money offer them. Sign-up at the best casinos online featured on our website and experience all this first-hand!