Since its inception in 2009, Bitcoin has grown in leaps and bounds to come out as the most popular cryptocurrency.
Even tech public figures like Elon Musk have come out to endorse the payment method. It, therefore, doesn’t come as a surprise that Bitcoin has now become part of the online casino gaming financial landscape.
Such a setup reduces risk, speeds up transactions, and eliminates high bank processing and transaction fees. As such, Bitcoin transactions are near-instant, safer, and more cost-effective.
Bitcoin transfers are also anonymous, a feature that many discreet Canadian online casino gamers appreciate. To top it all off, the lack of bank overheads means casinos have fewer expenses to cover and can offer extremely low house edges on their games.
Players looking to register at a Bitcoin casino can sign up at Bitcoin-only online gambling sites. These casinos typically provide a higher level of game-randomness authentication.
Most Canadians, however, prefer to retain the glitz and glamour of mainstream casino gaming, while enjoying the benefits of transacting in Bitcoin.
At the best online Bitcoin casino sites, you’ll find slots, poker, and table games from renowned software developers like Microgaming and NetEnt.
Whichever option you choose to go with, it’s vital to learn some basics to make the right choice. If you’re a seasoned player but new to Bitcoin casino gaming, our simple guide will make you a pro in no time.
We’ll take you through the Bitcoin deposit and withdrawal process, show you the most lucrative bonuses, and share our casino top-picks. Our FAQs will also answer some of your most burning questions about Bitcoin online casino gaming.
Best Bitcoin Casinos Canada 2021
As we’ve mentioned, some casinos exclusively accept Bitcoin. Most Canadians, however, prefer to play at a Bitcoin casino site that accepts other payment options as well.
If you’re looking to enjoy an awesome gaming experience, with huge casino bonuses and promotions, the following casinos are ideal.
How to play at Bitcoin casinos
If you’ve already set your mind to sign up at a Bitcoin casino, then you need to know how to do it the right way. Don’t worry if you don’t know the first thing about cryptocurrency or online casino gaming—we’ll guide you step-by-step.
1. Set up your Bitcoin wallet
Before you can play at a Bitcoin online gaming platform, you need to have cash in a Bitcoin wallet. Low-stakes players can create wallets within their chosen service provider’s system.
High rollers, on the other hand, may need to download an encrypted wallet to keep on their PCs or mobile devices.
Once you’ve set up your Bitcoin wallet, you need to fund it, either using a bank transfer or by requesting a transfer from another person’s wallet.
2. Sign up at a Bitcoin gaming site
Simply offering Bitcoin as a payment method doesn’t automatically qualify an online casino as an industry leader. As such, players have to evaluate other features, such as bonuses, games, security, and mobile compatibility.
You also need to verify that the online casino you’re planning to register with is reputable and accepts Bitcoin payments. Of course, you can simply pick one of our recommended real money casinos.
Once you find the best Bitcoin online casino for your needs, the sign-up process is similar to what you’d find at any other gaming hub. Enter your name, email address, date of birth, and other personal details, and you’re good to go.
3. Fund your account
To initiate the Bitcoin casino deposit process, players don’t have to do anything different from visiting the cashier.
You then have to generate a string by choosing Bitcoin as your preferred deposit method. You have to copy the string and paste it into the payment portal, together with the amount you’d like to transfer.
Once you confirm that everything is in order, small deposits are processed instantly, so you can start playing. Bigger amounts take a bit more time to get processed through the blockchain.
Most casinos convert your Bitcoin deposit into CAD when you fund your account, then convert your winnings back to Bitcoin when you cash out.
Pros of casinos that accept Bitcoin
Only a few years ago, cryptocurrencies such as Bitcoin sounded like science fiction concepts to a lot of people. Bitcoin has, however, slowly become a trusted payment method in Canada and the rest of the world.
The number of quality online gaming sites that accept cryptocurrency has also risen. Still, some players are blind to the benefits of making their online gaming payments via Bitcoin.
If you’re one such player, then you’ll definitely be interested in browsing through the following benefits of making online casino deposits and withdrawals with Bitcoin.
Security and Anonymity
Bitcoin transfers happen on a peer-to-peer exchange. As such, payments are anonymous and no third party is given access to your personal and financial information.
Players are, therefore, at no risk of losing their personal information to hackers. Online casinos, however, still have to verify your identity and country of residence before you can claim your first payout.
It’s, therefore, still vital to ensure that you register at a reputable gaming site.
Quick payment processing
Players can make instant deposits using most traditional online casino banking methods. Withdrawals, however, typically take between 1 and 10 days to clear.
At Bitcoin gaming sites, both deposits and withdrawals made via Bitcoin are instant.
Not only will you be able to instantly access your cash, but you’ll access it with considerably lower fees than for eWallets.
Alternative gaming options
Some online casino players may want to dabble into some gaming options that aren’t available on conventional gaming platforms.
Such products are generally not available using traditional payment methods. As such, players can use alternative banking methods like Bitcoin to play games that they would, otherwise, not have been able to access.
As you can see, there are a lot of benefits associated with using Bitcoin as an online casino banking option.
But before you switch to gaming at one of our best online Bitcoin casino picks, you should also be aware of the disadvantages.
Cons of Bitcoin casino
As previously mentioned, even the best online Bitcoin casino sites also have their weak spots.
One potential risk of playing at Bitcoin gaming sites has to do with legitimacy. Bitcoin gaming is most popular in countries where online gambling is illegal.
Banks and other financial institutions refuse to work with the available unregulated casinos, making Bitcoin the best alternative.
Canadian players, therefore, need to verify that each Bitcoin gaming site they register with is licensed and not a rogue site from these unregulated jurisdictions.
Fewer gaming options
Although Bitcoin gaming is gaining popularity with players, the number of casinos that are processing deposits and withdrawals via Bitcoin is still relatively small.
Software developers are also yet to warm up to cryptocurrency gaming. Players can currently enjoy games from Betsoft, Microgaming, Aristocrat, Evolution, and a few other smaller studios.
Another disadvantage is that Bitcoin isn’t the most stable currency. The exchange rate can move quickly after you make a deposit and start playing.
If the value of Bitcoin drops against the Canadian dollar, then you may have more of it when you cash out.
If the reverse happens, however, players may end up with significantly less Bitcoin than when they started, even after winning against the house.
If you don’t do your due diligence before you sign up, cashing out from a Bitcoin gaming platform may sometimes take you much longer than using traditional options.
That’s because some gaming sites manually process Bitcoin withdrawals for security reasons. By signing up to one of our recommended gaming sites, players are guaranteed to enjoy quick withdrawal processing times.
Transaction fees and withdrawal times
If you’ve compared a few Bitcoin online gaming platforms, you probably understand that each one has slightly different policies around deposits and withdrawals.
While most casinos don’t charge any transaction fees, you may need to pay transaction fees to your Bitcoin wallet provider.
Players who use a Bitcoin exchange server may, however, have to pay a 1.95% processing fee. The reason behind this fee is that the online gaming platform pays a payment processor to convert BTC into Canadian dollars and vice versa.
One of the main reasons why Canadian online gaming enthusiasts transact using Bitcoin is the speed with which payments are processed.
As already mentioned, the best online Bitcoin casino sites process deposits and withdrawals near-instantly.
The only source of delay is the casino’s confirmation process, while the operator verifies that the same Bitcoins aren’t being used as payment elsewhere.
The delay may take between a few minutes to a few hours, depending on the casino. It’s, therefore, a good idea to check a casino’s banking policy or contact customer support before you commit to funding your account.
Online casino bitcoin bonus
While some online gaming sites will keep you entertained for hours on end, others may become your worst nightmare.
Convoluted and unreasonable bonus terms and conditions, slow payouts, confusing interfaces, and erratic gaming are some of the few complaints Canadians have about such unsavoury casinos.
A major perk of playing at a Bitcoin online gaming hub is that you can explore its products using bonus cash.
The welcome bonuses are typically far superior to what you get at traditional casinos. Once you’ve played through your initial bonus, numerous ongoing promotions will keep you on your feet.
Now that you’re familiar with how you can leverage bonuses to evaluate casinos, let’s check out some of the best Bitcoin online casinos.
1. Woo Casino
One of the hottest online casinos at the moment is Woo Casino! They currently have a generous welcome bonus.
On top of that they have a great selection of online slots!
2. Casino Rocket
If you’re ready for some intergalactic online gambling, you should definitely check out Casino Rocket!
They have a amazing library of casino games, from some of the best software developers.
3. Casitsu Casino
One of the newest additions to the online casino market is Casitsu Casino.
Casitsu has over 3,500 casino games and a great live casino. On top of that they also have a huge casino bonus for new members.
While Bitcoin easily takes the crown as far as speed and ease of payment is concerned, many other banking methods allow players to make seamless online casino deposits and withdrawals.
We’ve listed some of our favourite options below. Whichever payment options you use, make sure you’re playing at a reputable online gaming platform.
The most populair Canadian payment method is currently Interac. This works with hundreds of Canadian financial institutions and is very fast and safe.
Established in 2003, InstaDebit is now available at hundreds of Canadian online casinos.
InstaDebit transactions aren’t only speedy, but they also offer safety, convenience, flexibility and affordability, features that other payment processors struggle to provide.
InstaDebit works as a mediator between banks and online casinos, allowing players to make real-time deposits and withdrawals.
This online casino payment processor also provides a level of anonymity that can only be rivalled by cryptocurrencies.
This payment processor allows Canadian online casino gaming fans to make quick deposits from their bank accounts via direct debit.
You can also store and receive cash to your iDebit account as you would do with an eWallet.
iDebit casinos not only offer convenient banking, but they also provide generous bonuses, usually above $1,500.
What is the best bitcoin casino in Canada?
The best Bitcoin online casino depends on each player’s preferences. Some gaming platforms are big on slots and stock thousands of titles from numerous software providers.
Others feature live dealer games and sports betting opportunities on the side. If you’re on your phone most of the time, you’ll probably prefer a mobile-oriented gaming hub.
Whatever type of player you are, there’s a casino that’ll blow your mind away in our list of recommended sites.
Are there any transaction fees for Bitcoin casinos?
Not all the time. Bitcoin transactions typically occur on a peer-to-peer level, without the involvement of a bank. As such, there are no processing fees.
Online casinos may, however, charge a 1.95% fee for converting Bitcoin to Canadian dollars when you deposit and vice versa when you request a payout.
Which casino sites give a Bitcoin casino bonus?
One of the strongest points for playing at Bitcoin gaming sites is the availability of competitive bonuses and promotions.
Where players typically get less than $500 as a welcome bonus at traditional casinos, the best online Bitcoin casino sites offer thousands. Even the less competitive Bitcoin online gaming platforms all offer sizable bonuses.
Are bitcoin casinos legal?
Only a few countries, such as India and China still have issues with online gambling and Bitcoin. Canadians are, however, in the clear, as gambling with cryptocurrencies is completely legal.
You only have to ensure that you sign up at a licensed and regulated online casino.
What is the Bitcoin transaction speed with casinos online?
Bitcoin transactions are more-or-less instantaneous. Unlike with traditional banking methods like eWallets and credit cards, there are no lengthy processing periods.
Online casinos may, however, want to verify each transaction before you can access your cash. Casinos that use manual verification processes may take hours to verify deposits and withdrawals.
When you play at our top-pick casinos, however, transactions should only take a few minutes at most.