No doubt you've heard of the 'Bitcoin Revolution'. You may have wondered whatever happened to it and whether you missed it. You may be wondering when the Bitcoin Revolution is going to happen, or if it ever will. You may even wonder what Bitcoin is!
Bitcoin is a peer-to-peer cryptocurrency used on the internet. If none of those words mean anything to you then don't despair as this article will aim to help you!
Bitcoin is also very useful when it comes to playing at online casinos in Canada. Identify theft and hacking are real problems on the internet, and if you start sending your financial details to every online casino under the sun, then you're increasing your chances of being hacked, or having your details stolen by online criminals.
With Bitcoin, there's zero chance of hacking as you are sending actual money directly across the internet without the intervention of banks and other financial institutes. Read on to find out what Bitcoin is, and why it is so useful when it comes to online casino play.
Let's not go too much into the history of Bitcoin as it is (a) hard to understand and (b) not very interesting. Suffice it say Bitcoin is a peer-to-peer (i.e. person-to-person) cryptocurrency (encrypted currency).
Peer-to-peer simply means person to person. You can send anything peer-to-peer by directly linking two computers (or tablets/smartphones etc) across the internet. Napster gained fame in the early 2000s for its ability to link complete strangers’ computer-to-computer so they could send each other mp3 (music) files.
Bitcoin is just the same, except that you are sending money from your computer to someone else's computer. BTC is, if you like, 'internet money'. If you have Bitcoin on your computer (stored in what is called a Bitcoin wallet) then you can connect to someone else's Bitcoin wallet and transfer your money across. This means you won't use your credit card, debit card, bank or an eWallet provider.
Once you have everything set up, sending Bitcoins across the internet is as easy as popping into your local store and handing over cash to buy a loaf of bread!
Bitcoin is the world's leading cryptocurrency. There are many others, including Litecoin, Ethereum, Zcash and Dash. Unlike 'normal' currencies all cryptocurrencies are not tied to a specific nation (or a group of nations, such as the Euro), which means they are free from the volatility of such financial markets.
You cannot just store your Bitcoins anywhere on your computer. You need a specific Bitcoin Wallet, which is just a piece of software. The wallet keeps track of the number of Bitcoins that you currently possess.
In the 'olden days' Bitcoin wallets were software programs that you kept on your PC. This was not completely safe – if your PC suffered a catastrophic failure and need to be wiped clean and restored, you would lose your Bitcoin wallet and your Bitcoins with zero means of recovery! These days Bitcoin wallets are kept in the cloud. This means they are safe from catastrophic software failures.
There are several places where you can get a cloud Bitcoin wallet. Do your internet research and find what you think is the best cloud-based Bitcoin wallet for you.
The next step is to get some Bitcoin! There are plenty of Bitcoin traders on the internet, so it is easy to get your hands on some Bitcoins. You don't actually 'buy' Bitcoins – you exchange your country's currency for Bitcoin via a Bitcoin exchange. You will have to pay a little commission, but not too much. It is just the same as going to a real-world currency exchange to exchange your dollars for a different currency if, for example, you are going on holiday.
Give your bank account or credit/debit card details to the Bitcoin exchange, and details of your Bitcoin wallet. The exchange will convert the amount of cash you want to (in your national currency) into Bitcoin and transfer them to your wallet. Job done!
Your first task is to find an online casino that accepts Bitcoin. Most online casinos do not accept Bitcoin as a payment method, but a few do. Once you have found one (see our list below) that appeals to you, complete the registration process to become a member.
Depositing money via Bitcoin is easy. The online casino will have its own Bitcoin wallet. You use your own Bitcoin wallet to make the transfer. The money will then appear in your online casino account.
Withdrawing is just as easy. You go through the withdrawal process at the casino. As they already have details of your eWallet, they simply pass your winnings through.
Perfectly safe. All Bitcoin transactions are encrypted, and you do not have to share details of your credit card, debit card, or bank account with your vendor. Your eWallet is encrypted at source and password-protected, and only you know the password. Even when you enter the password to open your wallet it is encrypted before it is sent across the internet.
Because Bitcoin is a peer-to-peer encrypted currency there is no safer way of sending your money across the internet.
As we have might have mentioned, not all crypto casinos available to players in Canada (because of the law, there are not online casinos that operate in Canada itself). Here is a list of what think to be the best Canada online casinos that do accept Bitcoin.
Bitcasino.io is the 'grand-daddy' of all Bitcoin casinos. It is based in Montenegro but has licensing from the Curacao Gaming Control Board which makes it fine for players from Canada.
This online casino is hugely unique as it only accepts deposits and withdrawals via Bitcoin and a few other cryptocurrencies. It accesses Bitcoin services via Neteller and GreenAddress, plus it also accepts Blockchain. Unlike other online casinos, you will not be waiting ages for your payouts, as Bitcoin transfers take place instantly.
The site has a huge number of games from leading vendors such as NetEnt and Betsoft. This site is a great all-rounder, but if there is one criticism that can be made of it, it's that it doesn't have enough live casino games.
Don't let that minor quibble put you off, though. We think that Bitcasino.io is the best all-round Bitcoin-friendly online casino available for players in Canada, which is precisely why it claims the number one spot in our list.
NetBet is probably the biggest online casino in the world that accepts Bitcoin and other cryptocurrencies. It is based in Malta, so of course, it has licensing from the Malta Gaming Authority, which means Canada-based online casino aficionados are free to play here.
NetBet just has everything, virtually. It even has a thriving sports book if you enjoy messing around with sports betting as well as online casino play. It also has sections for virtual sports, live casino games, playing global lotteries and poker.
There are a huge number of Bitcoin games, and among the software vendors represented here you will find NetEnt, Microgaming and iSoftBet. Don't worry about boredom – it's simply not a factor. No matter the type of casino game that you particularly enjoy, you will find enough examples to play at NetBet.
This online casino is a superb all-rounder and we would be happy to recommend it to anyone, even people in Canada without Bitcoin wallets!
BitStarz Casino accepts CA players – indeed it positively spoils them. The crypto casino site offers a fabulous welcome deal up to five BTC (bitcoins) or $2,000 in 'fiat' money i.e. traditional currencies) plus 200 free spins. As it has obtained its licensing from Curacao, this means that Canada players are completely free to play here.
As well as being Bitcoin-friendly, this online casino giant has a massive number of games, including the top titles from leading software providers such as NetEnt, BetSoft and Amatic Industries. This award-winning site is host to countless slots, a decent amount of casino games, plus live casino games too.
Like most Bitcoin-friendly sites BitStarz doesn't make a policy of hanging on to your money for as long as it possibly can. If you want to make a Bitcoin withdrawal here, your cash will be available to you in your Bitcoin wallet in as little as ten minutes!
The Loki Casino has yet to build up the same kind of reputation for itself as many of the other sites on this list, but that's surely only a matter of time. This is another online casino with licensing from the Curacao Gaming Control Board so, like the other ones we have previously mentioned, Canada-based players have the green light to play here.
The site readily accepts Bitcoin as a payment method, via a Bitcoin services provider called CoinsPain. You can deposit as little as one one-thousandth of a Bitcoin, and there is no upper limit. All Bitcoin transactions are paid instantly.
This site even has a section where you can choose Bitcoin slots and crypto casino games. One thing that is missing here though – titles from NetEnt. You can play games from Betsoft, No Limit City, Play'n GO and Pragmatic Play, though.
Fortune Jack claims that it is the number one Bitcoin casino on the internet and while we don't exactly agree on that, we still think it's an online casino that is well worth exploring. It is – we have to admit – one of the best online casinos for accepting cryptocurrencies. As well as Bitcoin it also accpets Litecoin, Dogecoin, Ethereum, ZCash, Dash, BitcoinCash and Monero.
This great-looking online casino is yet another with licensing from (you've guessed it) the Curacao Online Gambling Control Board. It has titles from a great many online casino providers, including NetEnt, Evolution Gaming (which is a hot vendor for live casino games), BetSoft, iSoftBet, Quickspin, Play'n GO and Yggdrasil Gaming.
As well as casino card games and roulette, Fortune Jack is unique in that it has a high number of dice games, plus a dedicated sports betting section.
mBit Casino is one of the longest-established online casinos on our list and although it takes last place, this does not mean it should be ignored as an online casino bitcoin option for players in Canada. Like Bitcasino.io, this site is actively geared towards casino players who prefer to perform all their financial casino transaction using Bitcoin.
The site even has a complete guide to Bitcoins, so if you want to learn more about Bitcoins and other cryptocurrencies than we have relayed here, feel free to be entertained and informed at mBit Casino! It accepts multiple cryptocurrencies, including Litecoin and Ethereum.
Games-wise you will find BTC slots, Bitcoin roulette, crypto baccarat, Bitcoin blackjack and a few other table games. All games are presented as RNG games, plus there many other options. This Bitcoin-friendly online casino also has an excellent VIP scheme, plus it runs slots tournaments on a regular basis.
We hope that you have found this information about Bitcoin casinos for Canadian players useful. If you've been thinking about using Bitcoins (or any other cryptocurrency) to fund your online casino playing and have had concerns, then we hope we have helped put those concerns to bed.
Always remember to gamble responsibly. If you feel you have a gambling problem, don't hide it. Talk to someone before it has the chance to expand into something you simply can't deal with.
Finally, we wish you the best of luck when you are playing at your favourite CA crypto casino that accepts Bitcoin!