Bitcoin Casino Sites
Bitcoin has been in the news a lot recently. It is a surprisingly popular payment method online, particularly in the world of online gambling in Canada. Let us introduce you to the world of bitcoin gambling sites.
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What is Bitcoin?
Since you are on this website, we don’t really want to go too heavily into what bitcoin actually is. We are going to assume that you have some sort of inkling. For those who do not, all you really need to know is that bitcoin is a cryptocurrency.
This means that it is available purely in a digital form and the price of Bitcoin is dictated by the market as opposed to the central bank for your country. As the number of people who want Bitcoin goes up, the value of it goes up. As the demand falls, the price falls. Little economics lesson for you there.
There are several different cryptocurrencies out there. Bitcoin is, without a doubt, one of the most popular. It is ideal that it is starting to be brought into the gambling world, mostly because this introduces a whole new market to the currency which will cause the price to rise even further. Below you will find the best bitcoin casinos online which were carefully selected.
How can you use Bitcoin to gamble online?
Easy! You just need to find an online casino in Canada which accepts Bitcoin. Thankfully, this is far easier than it sounds (check the next section)
It is worth noting that many of the online casinos which accept bitcoin are not dedicated bitcoin casinos.
This means that you deposit money using bitcoin, but the money goes into your account in CDN. You are essentially selling your bitcoin to the vendor. They then give you a fair price for it. It will be a bit under the current market rate for bitcoin (somebody needs to make profit, right?)
You should also be aware that unless you are gambling at a dedicated bitcoin website, you are going to lose some of the anonymity of using bitcoin. Remember; one of the main reasons people use bitcoin is because it essentially is not tracked. It is just a series of numbers and you can’t quite work out who the money is going between.
That does not work in the online gambling world. There are money laundering regulations in place. Most people are not going to be fussed about this, anyway. The whole idea is to just use up the bitcoin that you collected.
If you win anything using your deposit, it is unlikely that the online casino will allow you to withdraw your money in bitcoin. Instead, you will withdraw in your local currency. In theory, if the value of bitcoin changes, you could actually be withdrawing more money than you put in…even if you made a loss.
This is one reason why people use bitcoin. Plus, it means that you now have money available to you which you can spend in your local shop, maybe by being a traditional Canadian and picking up some maple syrup!
How can you choose a bitcoin gambling site in Canada?
Thankfully, this is probably the easiest part. We have put together a guide elsewhere on this website, so we suggest that you check that out if you want a couple of tips on finding a site to gamble. However, here is a quick ‘guide’:
- Make sure that the casino is registered to operate in Canada. Due to the nature of bitcoin, there are a lot of companies popping up who are more than happy to scam people. Avoid them by searching only for licensed casinos.
- Make sure that you can deposit in currencies other than bitcoin. This way you do not need to ditch the website when you have run out of bitcoin.
- We recommend that you opt for online casinos which have a plethora of different ways to play. The more games available, the more fun you can have!
- Check out their customer support system to see if you can get the help you need when you need it.
- There should be some decent bonuses.
- There should be a mobile casino.
Want to check out some of the best bitcoin gambling sites?
There are a lot of online casinos offering bitcoin gambling at the moment. The number is set to rise in the near future too as this becomes an increasingly popular method of depositing cash into your account. We don’t want you to hunt down these online casinos. Instead, let us put