Canadian players are turning toward cryptocurrency casinos as cryptocurrency becomes decentralized. The online casino market is now offering easier ways to make payments without Canadian dollars.
For anyone unfamiliar, cryptocurrencies are online digital currencies. They serve the same purpose which is allowing you to buy things or receive money, just without any intermediaries. There is additional privacy associated with cryptocurrency which is the main appeal. People can use cryptocurrency anonymously in a completely online capacity.
Cryptocurrency relies on blockchains. Blockchains collect information. Think of it like a chain to which different blocks are attached. Each attached block holds a certain amount of information. As new data gets sent, that data gets put into a new block, which is attached to the chain. To understand how this works, you need to know that there are different types of crypto wallets like Coinbase, Electrum, and Edge.
Each user of crypto (and by extension, blockchains) has a wallet. The transactions for crypto meant to be completely anonymous. Anonymity is guaranteed using public key cryptography so you get a public key and a private key. Every user of Bitcoin or other cryptocurrencies uses a virtual wallet and they have a number for that virtual wallet that they can give to other people and can be seen by other people. But each person who has a virtual wallet also has a private key, something only they know. So instead of exchanging money, a user makes a request to alter their blockchain and Bitcoin makes alterations to their blockchain thereafter. They add more blocks to the chain.
Cryptocurrency casinos are almost entirely the same as traditional online casinos with the key difference being they let you make online casino payments in a cryptocurrency. This means the entire casino operates not using seven different types of currencies but using exclusively different types of cryptocurrencies.
Canadian players are probably wondering what games they can play. After all, if it's a different type of Casino, it might have a different range of games. However, you can rest assured any crypto Casino Canada offers will still provide you with the same type of games.You can play the same slot games, table games, or other popular casino games oh, the only difference is you make your payments with cryptocurrency and get your deposits using cryptocurrency. There are still the same titles as you may have already played such as Gonzo's Quest, Thunderstruck II, Book of the Dead, or Vikings. If you prefer table games, classic versions of blackjack or roulette as well as live dealer games are still available.
The best cryptocurrency for online Crypto casinos is the oldest and most widespread: Bitcoin was the first cryptocurrency to be created and it's the only one accepted at every single type of cryptocurrency you can find in Canada. Moreover, Bitcoin has the highest value and represents over 50% of the crypto-currency market. You won't have to worry about sudden price drops affecting your total value as much with Bitcoin as you would with other types of cryptocurrency.
There are some CA$ Casinos that allow you to deposit and withdraw using cryptocurrency, but they are not exclusively a crypto-currency casino.
With a Fiat based casino that uses Canadian dollars, you can deposit or withdraw with a crypto-currency like Bitcoin, but for the interim, in between the time you make your deposit and the time you make your withdrawal, the money is actually held in some type of fiat currency like US dollars or Canadian dollars or euros. This might not seem consequential or reason enough to play exclusively with cryptocurrency casinos rather than Canadian dollar casinos, but it absolutely can be. The reason for this is that when you deposit your cryptocurrency like your Bitcoins, they get converted to Canadian dollars at the exchange rate during the time you make your deposit. Once you withdraw your money they get converted back again using whatever the exchange rate is at that time. So, the total value in Bitcoin or any other cryptocurrency you use can be reduced by any changes to the current exchange rate. By comparison, if you make your deposit and withdrawal directly in crypto with cryptocurrency casinos, you are not beholden to market fluctuations which means the value of your coin doesn't change because it gets converted twice into a different type of fiat currency.
As with any type of currency, there are advantages and disadvantages to playing at cryptocurrency casinos in Canada and it's up to you to decide when and where it's worth it.
When you are playing with cryptocurrency casinos Canada ensures you get access to lots of bonuses. Casinos offer the same types of bonuses that they would for other currencies. This can take the form of welcome bonuses, deposit bonuses when you make a cryptocurrency deposit into your account, and more. With each of these you get the opportunity to increase your gameplay and subsequently your chances of winning. Cryptocurrency bonuses have the same principles as other bonuses meaning you get access to percentage bonuses, cashback promotions, reload bonuses, and more just by using crypto.
There are many popular cryptos accepted by each crypto casino Canada has to offer. The crypto we recommend is Bitcoin. Why? Because Bitcoin casinos are more prevalent than casinos for other cryptocurrencies. Simply put you have a wider range of options and more games you can play if you use Bitcoin. There are of course other popular cryptos accepted by crypto casinos in Canada including:
When you make a deposit at the best cryptocurrency casinos Canada has to offer, things function much the same as with any other currency.
When you are ready to get your winnings back into your digital wallet:
Bitcoin is a type of cryptocurrency designed to be transferred from one person to another. It was created originally by Satoshi Nakamoto, back in 2009. Bitcoin and similar cryptocurrencies became very popular because they were not tied directly to any bank so they were free from the transactions associated with other currencies. Bitcoin was not very popular when it first came to be and it was almost entirely useless because it doesn't matter if you have a lot of money if you can't use that money anywhere. However, it became globally popular around 2018 and since then companies have focused on catering directly to cryptocurrency. One form of this is cryptocurrency casinos. Many Canadian casinos have now cropped up catering specifically to cryptocurrency.
If you are considering Crypto gambling Canada ensures that the top crypto casinos are safe for you. Operators in Canada make it extremely safe for players who want a positive gaming experience. Operators that already have a good reputation, a valid Canadian license, and have operated successfully for years are the top cryptocurrency casinos to which you want to turn.
Canadian players don't have to worry about the future of top crypto casinos. They are here to stay. Cryptocurrency is becoming increasingly popular around the world and more and more businesses every day are trying to provide cryptocurrency based services exclusively. The massive increase in cryptocurrency use this year means that crypto casinos are increasing in popularity and will continue to do so.
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