The BettingGuide team has collected a list of the best online casinos in Canada that accept Bitcoin as a payment option.
Best Bitcoin Casinos in Canada (May, 2024)
The BettinGuide team of casino experts picked up the best online bitcoin casinos in Canada based on our highly relevant 30-factor rating standards with an additional focus on bitcoin payments. These bitcoin casinos hold valid licences and therefore provide safe bitcoin gaming environments.
- 1Casino Days:
Best Online Casino that Accept Bitcoin with 5000+ Games π₯
- 2PowerPlay:
Best Bitcoin Casino with Multiple Deposit Bonuses π₯
- 3CasinoFriday:
Best Online Bitcoin Casino that Accept Interac, VISA and BTCπ₯
#1 Best Bitcoin Casino: Casino Days
Pros
- 24/7 Customer Support
- Quick Withdrawals
- Over 5000 Games To Choose From
100% Bonus Up to $1000 + 100 Free Spins in Sweet Bonanza
#2 Best Bitcoin Casino: PowerPlay
Pros
- New Online Casino (2018)
- Accepts Bitcoin
- Large Jackpot Slots
100% Deposit Bonus up to $1000 + 100 Free Spins Every Week
| Min. Deposit | $20 |
|---|---|
| Max. Amount | $1000 |
| Turnover | 35x |
| Expiration | 30 Days |
#3 Best Bitcoin Casino: CasinoFriday
Pros
- Brand New Online Casino (2021)
- Valid Canadian Gambling License
- 1000's of Casino Games
Up to $500 +200 Free Spins
| Min. Deposit | $20 |
|---|---|
| Max. Amount | $500 |
| Turnover | 40x |
| Expiration | 30 Days |
Bitcoin Overview
Bitcoin was created in 2008 by an anonymous individual or group using the pseudonym Satoshi Nakamoto. It is the first cryptocurrency that expanded the world of digital assets. Since its launch in 2009, Bitcoin has become widely recognized in global society to the extent that almost everyone associates cryptocurrency with Bitcoin.
Here are some details about Bitcoin:
| Currency Name | Bitcoin |
|---|---|
| Unit | BTC |
| Market Capitalisation | CA$1,060,096,998,840 |
| Maximum Supply | 21 Million BTC |
| Availability Period | 24/7 |
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Market Cap: Reffered on 15/01/2024
The Origin and Background of Bitcoin
Bitcoin was conceived in 2008 through a paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System," published under the authorship of "Satoshi Nakamoto" on a cryptography mailing list. Nakamoto introduced the Bitcoin software as open-source and is said to have released it in 2009. The true identity of this individual, Satoshi Nakamoto, remains undisclosed.
This currency has the potential to reshape the future of finance by providing a peer-to-peer transaction system that does not require central administrators or banks.
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Bitcoin Whitepaper: The whitepaper for Bitcoin, which was published by Nakamoto, is available for viewing on the official Bitcoin website. It is not only available in its original English text but also in many other languages, including Japanese.
Key Features of Bitcoin
The First Cryptocurrency:
Bitcoin was introduced in 2009 by an anonymous individual or group using the pseudonym Satoshi Nakamoto, becoming the first cryptocurrency built on blockchain technology. This established Bitcoin's position as a pioneer among many other cryptocurrencies.
Limited Supply:
Bitcoin has a fixed maximum supply of 21 million coins, designed to prevent inflation. New Bitcoins are gradually introduced into the market through a process called mining, but this supply decreases over time until it reaches 21 million, at which point the creation of new Bitcoins will cease.
Halving of Mining Rewards:
Bitcoin's mining rewards are halved approximately every four years. This mechanism restricts the supply of new Bitcoins and promotes long-term value preservation.
Decentralised Consensus:
The Bitcoin network employs a consensus algorithm known as Proof of Work (PoW), allowing the entire network to agree on the validity of transactions and the addition of new blocks.
Open Source:
The Bitcoin protocol is open source, meaning that anyone can review, verify, or enhance its code.
Using Bitcoin in Online Casinos: Pros and Cons
Advantages of Bitcoin
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Low International Transaction Fees: Compared to traditional banks and credit card companies, Bitcoin offers significantly lower transaction fees for international transfers.
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24/7 Accessibility: Bitcoin allows for round-the-clock trading, regardless of borders or time zones.
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Decentralised and Unaffected by Central Authorities: Bitcoin operates on a decentralized system, free from control or interference by central authorities. This means it is not influenced by factors like banking hours.
Disadvantages of Bitcoin
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Price Volatility: Bitcoin's value can be highly volatile, leading to significant price fluctuations over short periods.
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Immature Technology: Bitcoin is still a relatively new technology and comes with certain issues and risks.
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Risk of Theft: Online wallets and exchanges can be targets for hacking, posing a risk of Bitcoin theft.
How to Deposit Bitcoin in an Online Casino: Practical Guide
To deposit Bitcoin into an online casino, you need to follow the steps below.
Choose and Create a BTC Wallet
Bitcoin wallets are digital tools for securely storing and sending Bitcoin. Wallets contain a pair of private and public keys that facilitate transactions.
Types of Wallets:
- Desktop Wallet: Installed directly on your computer.
- Mobile Wallet: Installed on your smartphone.
- Hardware Wallet: Stores information on a physical device.
For maximum security, a hardware wallet is ideal. If you prioritize convenience and frequent transactions, consider mobile or web wallets.
Creating a Mobile Wallet:
Let's set up a mobile wallet together, using the Safepal app as an example for players who want to enjoy online casinos on the go.
Download the App
You can install the Safepal app from their official website or app stores. While the Safepal website may not be available in Japanese, the app itself supports Japanese. You can find the app on the official website or app stores:
Safepal Official Website: https://www.safepal.com/en/download
App Store: https://apps.apple.com/ca/app/safepal-crypto-wallet-btc-nft/id1548297139
Google Play: https://play.google.com/store/apps/details?id=io.safepal.wallet&hl=en&gl=CA
Register an Account with the Bitcoin Casino
Let's use Casino Days, the recommended Bitcoin casino, as an example to see the deposit process at a glance.
Visit the official Casino Days website and click on the "Register" button. Fill in basic information like your email address, username, and password to create a new account.
For enhanced security, some casinos may require additional documents for identity verification. By following these steps, you'll be ready to enjoy casino games securely.
Deposit Bitcoin from Your BTC Wallet to the Bitcoin Casino
- Log in to your online casino account and access the deposit page.
- Choose "Bitcoin" as your deposit method.
- Copy the provided QR code or Bitcoin address from the casino.
- Open your Bitcoin wallet and send Bitcoin to the copied address.
- Wait for the transaction to be confirmed.
This guide outlines the basic steps for using Bitcoin in online casinos. Actual procedures may vary depending on the wallet and casino you choose, so it's advisable to refer to official information and support.
Bitcoin Address Formats and Transaction Times:
Bitcoin has various network types. In the Safepal wallet, after selecting BTC, you can change to a different network by selecting "Legacy" in the upper right corner of the screen.
Legacy
- Overview: The original address format that has been in existence since the inception of Bitcoin. Features: Addresses begin with "1."
- Transaction Time: Typically, one confirmation is obtained in about 10 minutes, but it can take longer, sometimes a few hours, depending on network congestion.
SegWit
- Overview: An update aimed at increasing transaction capacity. Features: Addresses typically start with "3" in the P2SH format.
- Transaction Time: Similar to Legacy addresses, usually one confirmation is obtained in about 10 minutes, but it may vary depending on transaction fees and network congestion.
Native SegWit (bech32)
- Overview: An address format that further evolves the SegWit update. Features: Addresses start with "bc1" in the bech32 format.
- Transaction Time: Similar to Legacy and SegWit, usually, one confirmation is obtained in 5-10 minutes. However, transaction sizes may be smaller, potentially leading to reduced fees.
Taproot
- Overview: A protocol update to enhance Bitcoin's scalability and privacy. Features: It makes the execution of smart contracts more efficient and private, designed in a way that the difference between a single transaction and a complex smart contract transaction is not easily discernible.
- Transaction Time: Similar to Native SegWit, usually one confirmation is obtained in 5-10 minutes. Taproot itself does not directly affect transaction time, but it improves transaction efficiency, potentially enhancing the overall network processing speed.
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Note: Different online casinos may support different networks, so be sure to confirm which network, such as Legacy or Native SegWit, you are using before making a transfer.
Comparison of Bitcoin and Other Cryptocurrencies in Online Casinos
| Crypto | Unit | Avr FeesοΌUSDοΌ | Avr Transaction Speed |
|---|---|---|---|
| Bitcoin | BTC | $1.78 | 10min |
| Ethereum | ETH | $0.85 | 15sec - 5min |
| Tron | TRX | $0.02 | β3sec |
| Ripple | XRP | $0.005 | 4sec |
| Litecoin | LTC | $0.07 | 2.5sec |
| Bitcoin Cash | BCH | $0.003 | 10min |
| Cardano | ADA | $0.15 | 1min |
| Polkadot | DOT | $0.20 | 6sec |
| Dogecoin | DOGE | $0.01 | 1mini |
