One payment method that stands out in terms of efficiency, safety, and transparency is bitcoin. Nowadays, there are dozens of bitcoin casinos in Canada, each offering its players a chance to fully utilize all the benefits of this superb payment provider. Are there any alternatives to Bitcoin? Today, there are hundreds of online casinos that allow their players to facilitate bitcoin payments. Only this time, you give the casino your wallet address, and the casino will send the required funds there. Then, the casino will give you a bitcoin wallet address and you have to paste it in your wallet app and input the amount of money you want to deposit – it’s as simple as that. You will be presented with several payment options, and you should select bitcoin. Bitcoin is one of the safest payment methods in the world. Gradually, it took the world by storm and underwent a huge expansion in 2017. That’s when casinos came to realize how convenient this cryptocurrency is and started implementing it on their gambling platforms.
However, BTC is the most widespread in the online gambling industry. The advantages of using Bitcoin are indisputable, and it’s only a matter of time before this payment method becomes as ubiquitous in the online gambling industry as its well-established competitors. Times have changed, and cryptocurrency has now fully extended its reach to the Canadian online gambling industry. The emerging Canadian online casino market jumped on the bandwagon and Canadian gamblers are now able to exploit all the benefits of this cutting-edge payment system. All transactions are 100% anonymous, which is why bitcoin is considered to be one of the safest payment methods on the web. Another reason why bitcoin is a fantastic payment option when it comes to casino transactions is that the payment platform doesn’t charge any fees. Other payment methods are not accessible in certain countries, but Bitcoin is genuinely a universal service. Bitcoin casino transactions are completed within a few clicks, and the funds are being transferred almost instantly, unlike some obsolete methods where you have to wait for an eternity to withdraw your hard-earned winnings.
Casino operators themselves rarely charge any fees for bitcoin transactions. So far, we’ve only talked about the advantages of using Bitcoin for casino transactions. In this article, I’m going to present the pros and cons of using bitcoin for online gambling in Canada, as well as the best bitcoin casinos for residents of the Great White North. Now, it’s time to mention something about its shortcoming as well. One of the few Bitcoin’s shortcomings is that it’s still not supported by many casinos. Withdrawing funds via bitcoin is even easier because it’s basically a reverse process from what you did when you deposited. Although the exact process of depositing BTC to the casino account may differ depending on the operator, the overall procedure is more or less the same. This pending time differs depending on the casino, and usually takes 24-48 hours. If you’re feeling uncomfortable with sharing your personal and financial details with the casino, this is something you won’t have to worry about if you’re using bitcoin. Another downside of Bitcoin is that its value is constantly fluctuating, so many players prefer using fiat money instead. This is mostly due to the fact that many players still don’t know much about this digital currency, and how to use it for casino payments.
One of the main benefits of using bitcoin is its ease of use. Old school players still feel more comfortable using traditional payment options like bank transfers and credit cards, while younger patrons prefer e-wallets to cryptos. Recent innovations in payment systems have allowed casino players to fund their accounts and cash out their winnings more conveniently than ever before. Many people believe that Bitcoin is less secure than other payment systems because it isn’t connected with any centralized banking system. If you use bitcoin for casino transactions, you won’t have to disclose any banking information, which mitigates the risk of frauds and hacker attacks. Speaking of restrictions, some Canada-friendly casinos won’t allow you to activate their bonuses if you’re depositing via certain banking options, like Skrill or Neteller. Some of them, like litecoin and ethereum are available at certain casinos. These bonuses are being given to all who sign up for an account and deposit money. Some casinos even have bitcoin-specific welcome bonuses which can be worth up in thousands of dollars. Bitcoin is never excluded from bonuses, and you can use it to unlock all promotional offers you can find. Is it safe to use bitcoin in online casinos in Canada?
