Crypto Casinos in Canada
Crypto casinos are changing the face of the online casino business and the digital world. The online casino and sports betting industry has taken up cryptocurrencies and actively promotes the use of digital currencies as a swift and secure payment method. Some crypto casinos also allow crypto gambling and crypto games. This page contains a list of the top online Crypto casino sites in Canada and what they offer Canadian players excluding Ontario.
Top Crypto Casinos in Canada
What Are Crypto Casinos?
A cryptocasino site is an online casino site or sports betting site that accepts cryptocurrency as one of its banking methods. It also allows players to wager and bet using cryptocurrencies. Sometimes they are also called bitcoin casinos, however, this is not technically correct as most online crypto casinos accept more than one type of cryptocurrency. We will go over some of the other popular cryptocurrencies below.
The Benefits of Cryptocurrency
In numerous sectors, cryptocurrency is becoming more popular. Online casinos and sportsbooks in Canada are now beginning to accept cryptocurrencies instead of fiat money when conducting transactions, which has several benefits for gamers. Let’s take a look at some of the obvious advantages of crypto gambling for online casinos.
Cryptocurrencies have user autonomy
Conventional fiat currencies are vulnerable to a variety of limitations and dangers. Banks, for example, are susceptible to economic booms and busts. Bank runs and crashes sometimes occur as a result of these situations, just like they did in the recent past. Users are not in complete control of their money, as they believe they should be. Bitcoin theoretically offers users autonomy since its price is not influenced by particular government policies. This implies that bitcoin users and cryptocurrency owners have full financial sovereignty. For some online casino players, this gives an extra layer of security when it comes to their own funds.
Crypto transactions are more anonymous
An array of information is required for most online transactions to authenticate the person performing the transaction. For example, money transfers between two individuals may be completed only after their identifying data are verified. Similarly, when making an online purchase, you must provide identifying information in order for it to go through. Verification, on the other hand, may prevent crime and limit freedom of choice for consumers. It also puts an intermediary in charge of the transaction, allowing them to control who gets services.
Bitcoins are anonymous by design. Although this is not entirely anonymous, the transactions may be traced back to a specific address using blockchain technology. Individuals can have numerous addresses; they are no different from having numerous usernames and passwords for one account. The transaction does not require any IP addresses or other identifying data.
Again, when it comes to casino games, sometimes players want to keep playing casino games anonymously and do not want to worry about what information appears on credit card statements and other places.
Crypto transactions are conducted directly with no central authority
Cryptocurrency mechanisms are entirely peer-to-peer, allowing users to transmit and receive payments to or from anyone on the network around the world. The makers of a transaction do not require approval from an external source or authority unless they are exchanging or receiving cryptocurrency via a regulated exchange or business. This also means that transactions can happen around the clock at any time and you do not need to worry about business opening hours to get things done.
There are no banking fees
While fiat currency exchanges generally impose fees as well as routine deposit and withdrawal costs, Bitcoin users are not subject to the long list of traditional banking penalties associated with fiat currencies. This means no account maintenance or minimum balance costs, no overdraft expenses, and no returned deposit fees, among other things.
Crypto payments have low transaction fees for international payments
Fees and exchange costs are common in conventional wire transfers and foreign purchases. Due to the fact that Bitcoin transactions do not use middlemen or government involvement, transferring is usually less expensive than banking transactions. Transferring in bitcoins may be quick, eliminating the hassles associated with typical authorization procedures and waiting periods.
Many Canadian casino players use VPN to play online casino games and live casino games, or choose to deposit in a currency other than CAD. Since international payments through crypto casinos have lower costs this makes it more worthwhile to the player.
Crypto payments are mobile-friendly
Bitcoin users have the option to pay for their coins from wherever they may have Internet access, much like other online payment systems. This implies that consumers do not need to go to a bank or a shop to acquire a product. Personal information is not required for any transaction, unlike online payments processed with US bank accounts or credit cards.
Most players access crypto casinos using their mobile devices or phones, so using bitcoin casinos makes the entire playing process even easier.
Crypto transactions are irreversible
The blockchain is known for being unchangeable. As a result, transactions conducted on the blockchain are irreversible and cannot be undone by a third party, such as the government or a financial services company. Furthermore, it’s not feasible to chargeback bitcoin sent to someone else. The only way to reverse a crypto transaction is by having the recipient send back the original crypto coin.
Crypto transactions are secure
Cryptocurrency is not a tangible form of money. Because of this, fraudsters cannot palm it off the owner. Cryptocurrency may be stolen if the private keys for a wallet are known. However, stealing cryptocurrency is technically difficult, as long as proper security measures are in place. While cryptocurrency exchanges have been hacked, Bitcoin’s exchange has remained secure so far.
Since casino players make substantial deposits and withdrawals at most casinos, adding an extra layer of security can give extra peace of mind.
Cryptocurrencies are accessible to people without access to traditional banking systems, credit cards, and other payment methods because consumers may transmit and receive bitcoins with merely a smartphone or computer.
Disadvantages of Cryptocurrency
While there are a lot of advantages to using cryptocurrency, nothing is perfect. Here are some disadvantages of cryptocurrencies that you need to be aware of.
Money laundering and illegal transactions
Given the anonymity and security of cryptocurrency transactions, it’s difficult for authorities to follow any user down by their wallet address or keep track of their data. In the past, bitcoin has been used in several criminal activities, such as buying narcotics on the dark web. Some individuals have used cryptocurrency to launder money as well.
Money laundering and KYC is something that online casino sites are taking very seriously, so this is also something they will monitor more closely.
Risk of Data Loss
The creators of cryptocurrency tried to make virtually untraceable ASCII documents, strong hacking defences, and unbreakable authentication procedures. It would be safer to store money in cryptocurrencies than physical cash or bank vaults. However, there is no way to retrieve the private key if it is lost by any user. The wallet will remain locked away along with the number of coins inside it. Most people would probably walk away and not use cryptocurrency after something like this.
High Volatility and Price Fluctuations
Even though cryptocurrencies are known for being decentralized, their creators and other organizations still have a degree of control over their progress and quantity. These owners can use the coin to create huge price fluctuations. Bitcoin, for example, saw its value double several times in 2017, despite the fact that it is a very popular cryptocurrency. This major volatility is a high-risk situation.
Some costs are hidden
Some cryptocurrencies can only be bought for one or more fiat currencies. It forces the user to convert these currencies into one of the more popular cryptocurrencies, such as Bitcoin or Ethereum, and then on to other exchanges in order to reach their goal currency. It may only apply to a subset of coins. As a result, extra transaction costs are included throughout the process.
No refunds or cancellation
The recipient cannot retrieve the cryptocurrency if there is a quarrel between concerned parties, or if they accidentally send money to the incorrect wallet address. It may be used by many individuals to defraud others of their cash. Because there are no refunds, one may simply create one for a transaction in which they never received anything.
High energy consumption
Mining cryptocurrencies needs a lot of computational power and energy input, making it highly energy-intensive. The major problem here is often Bitcoin. Bitcoin mining requires high-end hardware and a significant amount of electricity. It’s not possible to execute on basic home computers. China generates a large number of carbon emissions as a result of its use of coal to generate power to mine bitcoin.
Crypto is not hackproof
Although cryptocurrencies themselves are very secure, the exchanges, on the other hand, are not very secure at all. The problem with this is that most exchanges store user wallet data of many different people. The exchanges then get hacked and the hackers will get access to many different accounts.
Once the hackers gain access, they may move money from your accounts quickly and easily. In recent years, major exchanges such as Bitfinex and Mt Gox have been hacked, with Bitcoin millions of dollars worth of assets having been stolen. Most today are quite secure, but there is always the risk of a future breach.
The Most Popular Types of Cryptocurrency
While bitcoin receives all of the attention when it comes to cryptocurrencies, there are dozens of alternative options. It is good to understand what other cryptocurrencies are out there and what they can offer. Many crypto casinos will accept many different types of cryptocurrencies so you do not need to limit yourself to just bitcoin.
Bitcoin was the first major cryptocurrency to hit the market in 2009, and since then many other cryptocurrencies have been introduced since then and have even become very popular. However, bitcoin still remains the most popular cryptocurrency.
Here we have listed the top 10 largest cryptocurrencies sorted by their current market cap as of February 2022.
Market cap: $812 billion
Bitcoin is still the coin that people frequently refer to when discussing digital currency, as it was the pioneer of the cryptocurrency era. Satoshi Nakamoto, allegedly the currency’s creator, debuted it in 2009 and has been on a wild ride ever since. However, it was only in 2017 that cryptocurrencies gained mainstream awareness and bitcoin shot to fame. It was also during this time that bitcoin value really began to take off.
Market cap: $368 billion
The second-most-commonly-known name in the cryptocurrency industry is Ethereum, which stands for “the world’s most secure blockchain.” The technology allows you to utilize ether (the currency) to carry out a variety of activities, but it is the smart contract functionality of Ethereum that has made it so popular.
Market cap: $78 billion
Binance Coin is a cryptocurrency created by Binance, one of the world’s most well-known cryptocurrency exchanges. While originally intended as a token to encourage traders to use the site, Binance Coin may now be used for transactions as well as purchases of goods and services.
Tether’s price is pinned at $1 per coin. It’s a stablecoin, which means it’s fixed to the value of another currency, in this case, the US Dollar. Tether serves as a go-between for traders who move from one cryptocurrency to another. Traders don’t want to return to dollars; instead, they use Tether.
Binance Coin (BNB)
Market cap: $70 billion
Binance Coin is a cryptocurrency created by Binance, one of the world’s most well-known cryptocurrency exchanges. While originally intended as a token to encourage traders to use the site, Binance Coin may now be used for transactions as well as purchases of goods and services.
USD Coin (USDC)
Market cap: $51 billion
USD Coin is a dollar-pegged stablecoin, and like Tether, its value should not fluctuate. According to the currency’s creators, it is backed by fully reserved assets or those with “equivalent fair value,” which are kept in regulated U.S. accounts.
Market cap: $39 billion
Cardano is actually the name of the cryptocurrency platform that underpins ada, the currency’s name. Cardano was created by Ethereum’s co-founder, and it also utilizes smart contracts, allowing for user identification.
Market cap: $38 billion
Solana is a relatively new cryptocurrency that was launched in March 2020 and claims to offer faster transaction processing and a more durable “web-scale” platform. The coin, known as SOL, is limited to 480 million units.
Market cap: $35 billion
XRP was formerly known as Ripple and was established in 2012. XRP allows you to pay in a variety of real-world currencies, much like Bitcoin does. Ripple enables cross-border payments through a trust-less system.
Market cap: $23 billion
Terra is a platform that backs up several real currencies’ stablecoins using its currency, Luna. Terra employs a variety of technical methods to keep the price of stablecoins steady, and it also supports smart contracts.
Market cap: $22 billion
Polkadot is a blockchain-based protocol that aims to connect the technology of many different cryptocurrencies. One of Polkadot’s creators is Ethereum’s co-founder, and some industry experts believe it could topple Ethereum.
Cryptocurrency and Online Crypto Casinos
Crypto casinos offer a lot of perks. But will they be able to keep their promises? We’ve evaluated all the risks and benefits that come with Bitcoin gambling, as well as all of the risks that players face while gaming in a No KYC casino. Is it safe to play at a No KYC casino? Is it legal to gamble using cryptocurrencies in Canada? We will examine all of these and more pressing questions.
Bitcoin has gained a large following among online casinos and gamblers all around the world. Many internet casinos accept Bitcoin alongside fiat currencies such as the Canadian Dollar. Some gaming websites, on the other hand, operate only with cryptocurrency.
Many gaming sites now accept Bitcoin as both a deposit and a payout option. These may include traditional casino games, sports betting, lotteries, and other activities. However, there are now some game providers that are creating crypto casino games. There are also sports betting sites that you can find. For example, Sportsbet.io is a crypto sports betting site that is a cryptocurrency casino as well and even has crypto casino bonuses.
Most of the platforms feature games created by their staff, with a few using licensed or rented versions of established titles. They modify them in order to add particular distinctive features.
The popularity of bitcoin casinos is due in part to the anonymity that cryptocurrency transactions provide to customers, despite the fact that KYC is still necessary for most.
What is KYC?
KYC (Know Your Customer) is a procedure that many online casinos and other websites demand. This entails for each consumer to describe themselves and provide personal information like a phone number, address, and email address. Registering at a Bitcoin casino is easier than withdrawing money from one, but the crew may still request additional verifications. Customers must submit copies of their bank statements and other personal information that they may not be comfortable doing. However, this is essential for licensed online casinos since they need to do this to maintain their online gambling licenses and also to ensure they are compliant when it comes to their AML (anti-money laundering) requirements and social responsibility.
Bitcoin gambling in Canada began on casinos that didn’t require KYC, which is why it became popular with a certain section of users. Furthermore, there is also a small number of gaming sites that only require the most basic of information for registration.
While this does provide complete anonymity, it comes with a slew of risks since the KYC procedure is insufficient, and no cryptocurrency legislation exists. These procedures are required for age verification, money laundering prevention, player funds protection in the case of a hack, and so on. Without them, youngsters who use these gaming sites may be underage, their accounts may be hacked, and their money, as well as the platform, might go missing. And unfortunately, there are no protections in place if something like that happens.
How to Minimise Risks When Choosing a No KYC Casino
Given everything we’ve said, it’s easy to conclude that these crypto casinos are not always trustworthy. Some, on the other hand, work seamlessly and fairly well. Look for licensed software suppliers in order to determine whether or not such a website is a fraud or not. For example, if a site is working with NetEnt and Microgaming, the probability is that these will be legitimate crypto casinos that follow all the rules and have a valid license. All the crypto casinos that we recommend on iBet Network are fully licensed and trustworthy. If a bitcoin casino is not legitimate, we will not recommend it.
Types of Bitcoin Wallets
The bitcoin wallet is a program that allows you to save your money. We now have a wide range of options to select from. It is up to you to pick the most suitable electronic wallet for yourself. The most significant difference between wallets is their security and convenience. However, make sure you pick one of the three bitcoin casino suppliers operating in Canada: online, software, or even hardware. Let’s take a closer look at each one.
This wallet is entirely run on a cloud server, which is often advised for beginner cryptocurrency users. Consider using an online wallet for both deposit and withdrawal processes, in some ways you may use the best casino online bitcoin services, and so on.
Because a third party manages them, online wallets are the most vulnerable to hacking. However, you can access them from any device, making this alternative very handy.
If you’re a seasoned cryptocurrency user and an e-wallet enthusiast, consider utilizing a software wallet for your plans. This process, therefore, depends on the use of specific software that keeps track of your transactions and financial activities. There are no fees associated with using a software wallet. You may store, send, and receive Bitcoins in this manner, but it is not as secure as a Hardware wallet.
A hardware wallet is a physical device that holds your private keys offline. If you’re serious about security, this type of storage is for you, but be warned that it isn’t cheap and may be difficult for novices to use. A Hardware wallet is an ideal solution for preserving a significant quantity of bitcoins. This is by far the most secure payment method in the whole financial transactions industry. A manually linked software-based memory device, such as a hard drive, is used to connect the personal computer. Gamblers that wager large amounts of Bitcoin are usually advised to use this approach.
So, feel free to utilize one of the wallets shown to deposit funds into your bitcoin gambling sites.
Play Online Casino Games with Bitcoin
The arrival of Bitcoin has revolutionized the online payment system. With the speed of transactions and the lack of fees, it has become the most popular online payment method among gamblers on a number of gaming sites. Forget about financial delays! Making deposits and withdrawing money has never been this easy or quick.
More and more casinos across Canada are recognizing the benefits of cryptocurrency, which is why it is quickly becoming the most common electronic wallet. You can now play your favourite games in any bitcoin casino in Canada from various devices these days. Just pick the casino you want to play at and double-check their licenses to ensure your safety and legality.
You can discover several Bitcoin betting sites on the Internet that aim to add a new twist to gaming. Nothing may prevent you from playing online casinos with bitcoin if you’ve ever desired it. The only thing left to do is connect your Bitcoin account to your casino game balance after you’ve set up your wallet.
While cryptocurrencies have yet to reach the ability to be a viable payment alternative for most online casinos, their use is already quite widespread in certain internet gambling platforms, which demonstrates the wide acceptance of it in internet gaming. By the way, several betting businesses now accept cryptocurrency as a preferred payment method.
Bitcoin in Canada
Bitcoin has revolutionized the gaming industry in Canada, and most of the software suppliers now focus on it, bringing change to the sector. Even casino sites that require many payment verifications omit them while accepting cryptocurrencies, making it a popular payment choice for both customers and casinos.
Canadian online casino Bitcoin support is steadily growing more popular, so double-check to see whether your favourite Canadian casino provider accepts Bitcoin as a payment option in the list of alternatives. All online casino sites have a clear list of all their banking methods, including any cryptocurrencies.
Bitcoin has proven to be a success in the gambling industry, taking into account the aforementioned advantages. Once you’re ready to give it a go, make sure to create an e-wallet cryptocurrency account and then cash out using your preferred e-wallet.
How to Make Deposits with Bitcoin
Deposits have never been this simple and quick. You will never return to any other electronic wallet or credit card after trying paying with Bitcoins, since you must wait extra time for confirmation from the bank and pay additional fees.
Bitcoin is a decentralized and open-source cryptocurrency that functions without the need of intermediaries or fees. Transactions take only a few minutes to complete. Simply choose Bitcoin as your preferred payment option in your Bitcoin electronic wallet when signing up for any gaming site to enjoy your luck.
You’re most likely to become interested in how to utilize it as a deposit option at your favourite online casino gaming provider right now. Once you’ve completed your first cash-in, your casino platform will provide you with a time limited e-wallet that will be linked to your game balance at an online casino. You can use Bitcoin as a payment method at this point.
The next step is to click the “Deposit” button, which will appear on your screen. Online bitcoin casino suppliers will then deliver you a lengthy text of code that you must input into your e-wallet. Then choose how much money you’d like to exchange and finalize the transaction. As we have mentioned, you cannot get a chargeback or refund of a crypto account, so make sure you have entered all the details correctly.
Finally, you’ll be able to execute direct transactions into your bankroll. That’s all there is to it; now the funds will be immediately transferred into your bankroll! To avoid missing out on any action, we recommend that you read our list of the finest online casinos first. That is all there is to it before you start playing the most popular casino games at your favourite sites.
Bitcoin Casino Withdrawals
It’s straightforward to withdraw your winnings to bitcoin. Once you’ve chosen a Bitcoin wallet as your payment method, you won’t run into any difficulties with payment or payout. Furthermore, BTC transactions in both directions are frequently completed faster than those made using other currencies.
They are as simple as making a deposit when it comes to getting your money out. Withdrawals are frequently valued for their rapidity and safety. When you follow all of the necessary steps and receive your real cash in your e-wallet within minutes, you’ll be astonished. It is not only feasible but also common to withdraw funds using Bitcoin immediately.
The majority of bitcoin casino online sites connect your e-wallet after your first transaction. Don’t be embarrassed to utilize the money you converted through alternative payment options for withdrawals, even if it’s not with the same site. Simply follow the steps outlined on the website of your top online bitcoin casinos.
To complete the transaction, go to your account and pick Bitcoin as your preferred withdrawal option. Enter your Bitcoin wallet address and the amount you wish to withdraw. The money will be delivered to your wallet in minutes after confirming the transaction and receiving confirmation.
The money is sent to your e-wallet right after you finish filling out the necessary information for the withdrawal process. In comparison to other payments, Bitcoin is not only the most secure and quick, but it’s also continuously improving, with each day of usage. You may withdraw cash as many times as you like without paying any fees. Try it yourself.
Mobile Gambling with Bitcoin Casinos
Every online casino in Canada has a mobile version since gamers tend to use their phones or tablets the most. Gamblers like these devices owing to their flexibility and ability to play them at any time and anywhere. All games have been designed for touch screens, and virtually all desktop functionality is accessible.
A decent internet connection and a downloadable casino application is all you need to play your favourite game. All you need is a good internet connection via WiFi or cellular data to use this system. When you’re ready, log in at your leisure and start betting with bitcoins.
When it comes to mobile capabilities, Bitcoin is well supported by the major casinos, which provide mobile versions of their customers. These bitcoin deposit online casino companies have their own mobile clients that are compatible with Android as well as iOS. Using your tablet to play internet casino bitcoin domains might considerably enhance your game experience.
How Can I Use Bitcoin to Play at a Mobile Casino?
Imagine that you’re relaxing on your sofa while playing one of your favourite bitcoin online slots, without thinking about cashing in some more cash through a credit card. For decades, it was a fantasy, but now it’s a reality, particularly for a bitcoin mobile casino that only needs an Internet connection to operate.
Furthermore, you may use your mobile phone to download a favourite Bitcoin program wallet and execute transactions from there. It’s exciting to be able to play Bitcoin casino regardless of where you are in the world with a stable Internet connection.
What if you could withdraw your winnings using only a few clicks on your smartphone? With Bitcoin, this service isn’t just a dream anymore; it’s a reality that many bettors in Canada take advantage of. Don’t pass up the opportunity to join one of those creative people looking for new ideas in everything they do.
Exclusive Bonuses For Canadian Bitcoin Players
The bonus systems provided by casino platforms are what stand out for individuals who utilize Bitcoin as their main payment method. Every day, more and more gamblers in Canada trust different cryptocurrencies. This has prompted casinos to be increasingly competitive in order to attract new customers.
Online casino websites that offer bitcoin casino bonuses aim to persuade players to join the cryptocurrency wave by providing better bonuses than traditional online casinos that only utilise fiat currency payment methods. Cryptocurrency players are eligible for a number of distinct incentives.
Of course, different bitcoin casino sites will have different rewards, promotions and bonuses. Bitcoin gambling sites can provide a variety of online casino bonuses. We recommend always looking for the following bonuses before you gamble online:
- Welcome bonuses
- Deposit Bonuses
- Reload Bonuses
- Free Spins
- No Deposit bonuses
For example, a casino platform might provide one bonus for cash-in via Visa or PayPal and double the incentive for players who use crypto payment methods.
Certain websites also provide Bitcoin-themed bonus games, which may significantly enhance your earnings. Do not overlook these while selecting the payment option for your next cash-in, especially if you’re playing on a website that offers unique Bitcoin bonuses.
The popularity of Bitcoin has resulted in the creation of several new casinos that cater to cryptocurrency enthusiasts. The welcome bonuses, free spins features, and no-deposit rewards are just a few examples.
In essence, crypto casinos in Canada may surprise you with a variety of bonuses that you can earn. Do not pass up the opportunity to learn more about how to utilize the incentives offered by your favourite crypto casino. In any case, bitcoin casino sites appear to have the most generous offers and bonuses when it comes to online gambling.
Crypto Casinos in Canada Summary
We have tried to give you the most impartial data about bitcoin casinos in Canada and both the advantages and the disadvantages of both. Now it is up to you whether you want to take part in some crypto gambling. Although nothing is perfect, it does seem that an increasing number of casino sites are shifting towards bitcoin casinos and are offering many cryptocurrencies as digital payment methods. We are also seeing some game providers create slot games that use bitcoin cash, so this does not seem like it is just a fad. From what we can see, and considering the amount of development going into it, it seems like crypto casinos and bitcoin gambling are here to stay.
Our final word is, if you are not technophobic, to take advantage of these innovative technologies implemented by cryptocurrency platforms in order to capitalise on the extra deposit bonus offers and welcome bonus offers that trustworthy bitcoin casino sites are giving away.
Crypto Casinos FAQ
Here are the most common questions we get asked about crypto casinos in Canada.