If a gambler decides to play some casino games it means he will spend some money on it. And to fund your gambling activity you need to put money via some online payment platform. Online gambling establishments in Canada accept a wide range of bankroll funding solutions. Gamblers can fund their bankroll by using digital wallets, MasterCard/Visa/American Express cards, wire transfers, and even cryptocurrencies.
About the latter, we will talk more in this article. Cryptocurrency is a very young means of exchanging money, which means there are a lot of advantages along with disadvantages.
In this paper, we will take a look at some of them, describe how to make money transfers with Bitcoin, and answer some other interesting and important questions. We will also give you some sources where more useful information on this topic can be found, so if you decide to become a crypto gambler you will be prepared for everything.
Relatively not so long-ago cryptocurrencies became a widespread and popular phenomenon, and gambling houses noticed that trend. A unique, never-seen-before money analog drew our attention and many began to get into it. Mining became a job that brings people huge money. Now every kid knows or at least heard about cryptocurrency.
Now, digital money got in the gambling industry and every day we can see more and more internet gambling facilities that accept Bitcoin. As a result, you can bet with Bitcoin or any other acceptable crypto coin. Since there are many crypto coins, different gambling establishments may accept a different range of cryptocurrencies. However, the most popular digital coins remain Bitcoin, and in some cases Ethereum. You can mine them, or buy them on crypto exchanges.
Either way, you will need a crypto wallet to contain your digital money. Different wallets set their rules and regulations so you should consider this aspect of crypto gambling as well. But how to find a Canadian gambling house that accepts Bitcoins and how to fund your bankroll with it? You can find an answer to those and many other questions on the CasinoOnlineCA website.
There you will see a list of gambling houses where most cryptocurrency from their great variety is accepted, as well as a link to their websites to proceed to the next step right away. The first thing you should do is to check the licensing of the chosen internet gambling facility. It is necessary to make sure you are dealing with a reputable and trustworthy casino.
Next, to get some crypto coin funds to gamble with, you need to make yourself an account that will indicate that you are a real human being. Provide the gambling provider with all required information, like your name, address, phone number, e-mail, etc. This information will not be shared with third parties, so you may rest assured of confidentiality. At the end of the registration process, you will have to confirm your e-mail, which is required to activate the account.
Once you are done with all that visit the Cashier, where gamblers can choose the Bitcoin/crypto coin funding solution. Note, that in addition to different cryptocurrencies, people tend to use different crypto wallets. It means that each transaction in a particular casino may require some tax taken by the casino or even the wallet itself. Remember to explore this matter before joining ranks of crypto gamblers. Finally, you decide which amount to put in your account and complete the payment.
The advantages and disadvantages of such a payment method are various and sometimes even not obvious. For example, digital money proved to be a secure and confidential method of online transactions, so if you are worried about that aspect of gambling you can take advantage of it. In many crypto casinos, players can find some lucrative promotions regarding using Bitcoin as a deposit solution.
It is also an extremely fast way to fund your bankroll and it does not require credit/debit card links to perform. On the other hand, gambling establishments where you can deposit crypto coins are scarce and the value of cryptocurrencies always fluctuates. More about that, and some other information, like the best Bitcoin gambling houses for Canadian gamblers, digital money transaction limits, or the most profitable bonuses with crypto coins.
However, there is a problem here – time. With such a huge amount of casinos, a regular gambler doesn’t have enough time to check every single internet gambling facility to find the one and only. For such instances, we have internet portals where professionals gather information about various casinos and create top lists. There they look at the pros and cons of each casino they present and rate the selection of games, variety of bonuses, funding methods, user interface, and customer support. Once they finish collecting data, it is processed and given to you in a structured form. One of such web portals is the DenverPost website, where you will find a detailed review of the most popular Canadian internet gaming establishments that accept Bitcoin.
The concept of using cryptocurrencies for gambling is as simple as other solutions. If a gambling house accepts Bitcoin, you can easily use it to fund your bankroll. However, it has some serious advantages in comparison to other solutions. For example, it is much more anonymous than other methods, like bank transfer or credit card, which exposes a lot of your personal information.
Also, it processes the transaction much faster during any type of payment. A rare possibility is to be able to do both: deposit with crypto coins and withdraw your winnings as Bitcoins. To deposit you will need to indicate your crypto wallet and the amount you want to transfer. The same goes for withdrawing only in reverse. You use the same crypto wallet to draw your winnings in the form of Bitcoin/Ethereum/any other crypto coin you used.
But even this option has some flaws. The main flaw and advantage at the same time are that digital money is independent of anything except its value. Thus, the amount you want to put on your bankroll or draw out from it will always depend on the value of the cryptocurrency you used. In the middle of this process, namely gambling with deposited funds and winning will not depend on the value of the coin at the moment.
There are many aspects to this topic that one should consider before making any decisions. Remember that each casino regulates its payment solutions independently, so you cannot predict which crypto coins will be available and where. Despite everything, cryptocurrencies will be spreading and in time in every reputable casino, you will be able to deposit and withdraw Bitcoins just like any other common payment method.