Cryptocurrency In Online Gambling

John Volter
by John Volter
Cryptocurrency In Online Gambling
Published: 09/12/2021
Reading: 3 minutes

Are you a cryptocurrency enthusiast and also love to punt? Do you know there are diverse online casinos in Canada that accept cryptocurrencies as valid means of making payments? Crypto casinos are online Casinos where cryptocurrencies are accepted for making payments, and this article is why more Crypto casinos are springing up in Canada by the day.

Why Casinos Choose Cryptocurrencies

Cryptocurrencies are digital currencies that have continued to gain popularity due to the ease of use, speed of transaction, and host of more qualities. Here are the common reasons why Casinos are making them part of their payment options.

  • High security: Cryptocurrencies are built on blockchain technology which is highly secure. Transactions made on cryptocurrencies are highly secure and can be verified by anyone at any time.
  • Guaranteed Privacy: With cryptocurrencies, users who do not wish to disclose any part of their identity are fully covered. Unlike cash and wire transactions where users' details can be traced to their banks, crypto transactions do not require the personal details of the parties involved.
  • Speed: Transactions on the blockchain network get processed almost instantly, and so is probably the fastest way to make payments. Other traditional payment methods may take hours or even days to arrive at the user's account.
  • Ease of Use: Sending and receiving funds via cryptocurrency is very easy to learn. With just a few clicks on your mobile wallet, you can send any amount of money anywhere in the world in less than a minute.

Cryptocurrencies accepted in Online Casinos in Canada

  • Bitcoin: This is the first and most popular Cryptocurrency. It is the most accepted crypto for making payments, so it's not surprising that many online Casinos in Canada support it. One of the drawbacks of using Bitcoin for making payments is the high transaction fee that is charged. This is why other Alternative Cryptocurrencies(Altcoins) are provided as substitutes.
  • Ethereum: Second to Bitcoin, the second most common cryptocurrency and also suffers from the disadvantage of high transaction fees.
  • Litecoin: This is another Altcoin used in place of bitcoin due to the much cheaper transaction fee.
  • Dogecoin: This coin has been made popular in recent times by the Canadian Billionaire Elon Musk. Transaction fees on Doge coins are very cheap, so it is a viable option in place of Bitcoin.
  • Bitcoin Cash: This is another coin similar to Bitcoin but much cheaper. It is accepted across many online casinos in Canada.
  • Usdt: This is the cryptocurrency equivalent to the American USD. It provides multiple chain options for sending and receiving funds, some of which have very cheap transaction fees, for example, the Tron chain.

Choosing the Right Cryptocurrency Casino

If you are looking for the right Crypto casino to register with, here are some important features you should look out for.

  • Type of Cryptos Accepted: Find out the type of Cryptocurrencies that are accepted. As mentioned earlier, the transaction fee on some cryptocurrencies is very high, and as such, you need an online casino that accepts a wider range of cryptos.
  • Online Rating: Users usually rate casinos based on their experience. Be sure to check out the rating of the online casino on websites that rate casinos.
  • Bonus: Casinos do offer users incentives in the form of bonuses. Getting a crypto casino that offers an amazing bonus is a huge plus. Be sure to check out the terms and conditions guiding the bonus too.
  • Customer Service: Online Casinos provide customer service to users to help them resolve issues and answer their queries.

Wrap Up

Online Casinos in Canada are doing everything to make their players have a great user experience when they play and accepting Cryptocurrency is part of the move to make things easier for them. There are lots of Crypto Casinos in Canada, so follow the tips that have been provided in this post to find the most convenient one for you.

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Author John Volter

I'm a self-proclaimed Canadian casino expert who writes about online casinos, games, trends, and the latest news. I've been in the industry for over 10 years and have seen it transform rapidly. For this reason, I'm knowledgeabl... Read more about the author

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Last updated: March 21, 2023