Canada is one of the countries that still hasn’t created clear guidelines on the legality of online gambling platforms. Despite that, residents still flock to online casinos to enjoy the real money gaming options available.
That’s because several legit operators now allow players from the region to create accounts on their sites. However, to play these real money games, Canadians need payment options that favor their gaming preferences.
You’ll come across several traditional payment solutions like credit and debit cards or eWallets to help you make deposits and receive withdrawals.
Banks transfers are even possible for players that don’t mind waiting longer for the transactions to get processed. But for those who seek fast transactions, newer payment methods keep coming up with each passing year. One of those is cryptocurrencies like Bitcoin.
Are Bitcoin Casinos Legal in Canada?
Some players wonder whether using Bitcoin at casinos is legal, and the answer is yes. So long as the operator does not operate on Canadian soil, gamers can use Bitcoin to play without any issues. And when you aren’t gambling, you can still own it as an investment or use it to make purchases.
You’ll come across several online casinos that enable Canadians to play using Bitcoin. These include sites like Yako Casino, Mansion Casino, AHTI Games, Energy Casino, and NetBet, among others.
Bitcoin Casino Benefits
Once you choose to use this option over other payment methods, there are perks you stand to enjoy.
To promote this payment option, legit casinos offer exclusive bonuses for Bitcoin gamblers. For instance, you can claim the casino welcome bonus using different fiat currencies. Besides that, you still be eligible for the Bitcoin welcome offer once you make a crypto deposit.
Thanks to Blockchain technology, Bitcoin transactions are anonymous. You don’t need to provide any banking details or link your bank account to the casino to transact.
Another plus that Bitcoin gets through Blockchain technology is that transactions are always fast. The system has measures that enable all deposits and withdrawals to get confirmed quickly.
With Bitcoin transactions, no third parties are involved in the processing of payments. As such, this option comes with minimal to no fees for deposits and withdrawals.
How to Get Started at a Bitcoin Casino
Whether you’re visiting a crypto or online bitcoin casino, the procedure for getting started as a member remains relatively the same.
- Sign up and verify your account – Find a legit online casino that accepts Canadians and sign up. That will require details like your username, password, email address, and your name.
Once you’re done, if possible, complete the account verification process as well. The earlier you do that; the faster withdrawals will be later when you make a payout request.
- Make a deposit – Go to the cashier section and click on the deposit option. There, select Bitcoin, and you’ll get redirected to a payment gateway for the casino’s crypto wallet. Input the amount you’d like to deposit into your casino account and confirm the transaction.
- Claim Bonuses – Once the amount reflects in your casino account balance, you can claim available welcome bonuses. These could be deposit matches depending on how much you deposited or a cashback for losses on your first games.
- Play – Make wagers on the games tied to the welcome bonus you claimed. Once you’ve depleted it, complete the wagering requirement to turn all your winnings into withdrawable funds.
- Request a withdrawal – Navigate to the cashier section and click on Withdraw. Select Bitcoin and wait for the payment gateway page to load. Input how much money you’d like to withdraw and confirm the transaction.
You’ll receive the funds in your crypto account as Bitcoins. There, you can choose whether to convert it into fiat currencies. If not, leave it in your Bitcoin wallet to help you fund your gaming another time.
Depending on the frequency of your gambling activities, there are other facts you need to keep in mind before you choose Bitcoin casinos. For starters, you need to sign up for a Bitcoin eWallet account. There, you’ll be able to buy the cryptocurrency using fiat currency to fund your gaming account.
The eWallet will also enable you to trade your Bitcoins for fiat currencies. But this may take time since there needs to be a Bitcoin buyer available to trade for a fair price.
Something else to check is the limit on withdrawals at your chosen casino. To ensure users get fast payment processing, the casino may limit how often Bitcoin transactions can occur.
For instance, you may make a weekly transaction with fiat currencies but have Bitcoin transactions limited to only twice a month. All this is on the same platform.
With Bitcoin transactions, you also need to be very careful while making payments. That’s because once confirmed, you cannot reverse a payment.