Blockchain technology steadily penetrates new markets, from traditional finance to the entertainment industry. This truly disruptive technology is not just coming into the business and becoming an integral part of it. Still, it also gives entrepreneurs new opportunities, often changing the very essence of traditional business models.
The gambling industry, which has been booming on the Internet over the past decade, is not without new technology. Today there are dozens, if not hundreds, of crypto casinos.
Our review will consider how crypto gambling works, how to choose the best online casinos, and what you should pay attention to. Finally, we suggest you read the list of best real money casinos in Canada!
A crypto casino is simply an online casino or gambling site that accepts Bitcoin and other cryptocurrencies for deposits, withdrawals and sometimes even games in the corresponding cryptocurrency. Instead of using fiat currency, you simply use crypto coins such as Bitcoin. Try presenting it as an alternative payment method or e-wallets such as Skrill, Trustly, Neteller, etc. Except that your funds are processed using cryptocurrency.
When evaluating a crypto casino, we look at all aspects of the operation: security, fair play, available currencies, game catalogue.
Let’s start with one of the most popular features of bitcoin – the ability to remain anonymous or not divulge unnecessary information about yourself. Most of the traditional casinos require users to prove their identity or link bank account with further verification. Not everyone wants to share their personal data, and some simply do not have that option; after all, the Internet and bureaucracy – is a very bad combination.
However, anonymity means that if you lose access to your account, it will be harder to restore it. Therefore, protection of players’ data is a key parameter when evaluating any casino.
The list of accepted cryptocurrencies is also essential. Not all players use Bitcoin, which means the casino should cover several types of coins, including less popular ones. The variety of casino cryptocurrencies makes it possible to play crypto casinos comfortably.
The welcome bonus is one of the ways to attract new players. In traditional online casinos, it is standard practice not only to attract but also to keep players. Therefore, we expect some good bonuses from the best crypto casino with favorable conditions for the player.
Blockchain is known for the fact that your personal information is never revealed in a transaction. It means you can come and gamble without revealing your name or any personal information.
Global acceptance is one of cryptocurrency’s key goals: to offer a global payment system independent of any country or bank. It means that 1 BTC is the same no matter where you are in the world.
Low transaction fees.
As mentioned, Bitcoin and other cryptocurrencies are decentralised, meaning they are independent of banks and governments. It means that you are in control of your funds. No one can freeze your account or block your funds.
However, there are drawbacks to playing cryptocurrency.
If there’s one thing cryptocurrencies are famous for, it’s their volatility. It means that their value can fluctuate significantly in a matter of minutes. However, if you play bitcoin casinos in BTC, the volatility won’t affect you until you want to exchange your BTC for fiat currency.
There is no cancellation or chargeback. Once a blockchain transaction is confirmed, the funds will no longer be in your wallet, and if you have a problem with BTC casinos, you won’t be able to cancel or revoke the payment like you would with a credit card. Therefore, it is very important to stick to reliable and reputable online casino sites.
Choosing the best casino to play at meets most of the similar requirements of any online casino with some additional considerations. Let’s take a closer look at the key factors to consider when choosing a crypto casino.
Licensing and regulation. If you want to ensure online safety and have confidence that you are playing at a fair and safe casino, your first step is to ensure that the casino is licensed and regulated. However, when playing at regulated bitcoin gambling sites, you must register and verify your personal information. It only creates a problem if you intend to play ultimately anonymously.
Trust and Reputation – When it comes to crypto casinos, many brands have been around for several years, proven their trust, and built a good reputation. If the casino is a regulated brand, this is part of their requirements.
However, if you plan to play at an unregulated crypto casino, it is in your best interest to choose a casino that an independent company has at least audited.
Available games – it goes without saying that you want a good selection of games. Therefore, hybrid casinos usually offer games from all major game developers such as NetEnt, Microgaming, etc.
As well as many other unique slots and games for Bitcoin. “Pure” BTC casinos only offer bitcoin slots and fun, so their variety may be limited.
Safety on the Internet and especially in casino gambling is of paramount importance. Here are some key things to keep in mind:
The only piece of information you can share regarding your wallet is your address (like your account number). This address will allow the crypto casino to deposit funds into your wallet when you withdraw funds.
Authoritative exchanges – When it comes to buying cryptocurrency, it is vital to do it through a reliable and reputable cryptocurrency exchange such as Binance, Coinbase, Bitfinex and others.
Whether they are casinos with fiat currency or crypto casinos, online casinos are known for their bonuses. Let’s take a brief look at the different types of bonuses and, in particular, crypto casino bonuses.
Casinos offer bonuses so that you can deposit and play, whether it’s a bonus that encourages you to sign up, or regular bonuses if you’re already a player to continue to deposit and play more. But it’s important to remember that not all bonuses are created equal.
The deposit bonus is one of the most popular in online casinos. The essence is that you get some part or the full amount of the deposit as a bonus. Usually, the first deposit bonus is 100%, and subsequent ones vary from 10% to 50%.
A distinctive feature of the bonus deposit is the presence of the wagering conditions.
Get bonuses are possible without making a deposit. Usually, it’s a free spin or freebet, which is valid for a limited time.
Get free spins can be part of the no deposit bonus and a deposit. Often, casinos do not limit players on how to use free spins.
No-wagering bonuses are the rarest. It means that after receiving a gift from the casino, the player does not have to wager it, that is, a certain number of times.
Reloadable bonuses are aimed at regular players. Usually, they are deposit bonuses, cashback, lotteries, and similar activities.
The loyalty program allows regular players to receive rewards for activity in the casino. Typically, loyalty rewards are free spins or cashback. That is, bonuses that encourage players to continue playing.
Cryptocurrency gambling requires good coverage of different types of crypto coins in online establishments. While it is rare to find a casino that accepts absolutely all types of cryptocurrencies, there are some of the most popular ones.
Bitcoin was the very first cryptocurrency and remained the most significant and most valuable. At the end of 2017, Bitcoin reached a record high of $20,000. BTC is the most popular and widely accepted cryptocurrency in Bitcoin casinos.
Ethereum (ETH) is another of the “crypto-titans” that was second to Bitcoin. Ethereum is slightly different in its underlying technology from Bitcoin and was built as a smart contract platform for developers to create decentralised applications known as Dapps.
Bitcoin Cash (BCH) – The original Bitcoin (BTC) has various technological limitations that make it difficult to simultaneously scale and process large volumes of transactions. This led to the so-called “hard fork,” where some developers took the original Bitcoin code and refined the technology to address the shortcomings of BTC, resulting in Bitcoin Cash.
Litecoin (LTC) is a peer-to-peer cryptocurrency that was built on the basic Bitcoin protocol but used different algorithms that allow it to be more efficient than Bitcoin.
There are quite a few bitcoin wallets out there today. Before you choose one, answer a few questions:
Take some time to evaluate your requirements and then choose the wallet that’s best for you.
Electrum is a convenient and straightforward software wallet for storing Bitcoin. It was developed in November 2011. Electrum wallet can only store Bitcoin. It does not support other types of cryptocurrency, even including Bitcoin forks (like Bitcoin Cash).
Coinbase is one of the popular digital coin resources for traders, which offers the user free, reliable crypto wallets and a functional platform for full-fledged currency trading. It allows you to store: Bitcoin, Bitcoin Cash, DASH, KUB, Komodo, Ethereum, Litecoin, Ripple, etc.
Edge Crypto Wallet currently supports: Bitcoin, Bitcoin Cash, Litecoin, Qtum, Dash, Ethereum), Monero, Ripple and Feathercoin. Edge is a powerful and easy-to-use cryptocurrency wallet that allows users to easily manage their personal keys through the simplicity and convenience of mobile banking. Neither Edge nor third parties can access your money or data.
Now let’s see how to use cryptocurrency payment methods to deposit and withdraw funds from cryptocurrency gambling sites.
First, you need a casino account and a wallet with cryptocurrency. Find the payment details at the casino’s cash desk. Transfer funds from your crypto wallet to the casino payment details. Enjoy playing with crypto coins!
In order to withdraw your winnings from the casino, you have to insert your crypto wallet address in the “Withdrawal” section of the casino, indicate the withdrawal amount, check your data and confirm the transfer. Soon the funds will be in your wallet.
As with any online casinos Bitcoin, you will find that the slots that are already popular and well-loved by players, such as Sizzling Hot Deluxe and Sizzling Chrome, are also not at all unpopular:
More slots appear exclusive to crypto casinos, so soon they will dictate the trend betting systems.
Live casinos on BTC are also popular among players. Poker, roulette, baccarat, craps, blackjack – do not lose popularity among Canadian players.
Mobile bitcoin gambling is gradually gaining the love of players. Playing your favourite slots on a smartphone opens up a sea of possibilities, and having crypto coins at hand makes them achievable.
Many slots have a mobile version, so switching platforms has no problems.
One of the features of blockchain casinos is that players can check the fairness of the slots. This innovation allows for finer control over casino interactions and eliminates any tampering.
Checking the casino is very simple if you understand the mechanism of being Provably fair.
Fraud results in this algorithm are excluded.
The speed of customer support is essential in cases where there are difficulties. For example, with the transfer of funds or the work of slot machines. The ability to get help quickly – dramatically increases the casino’s reliability.
Before registration, be sure to read the casino’s terms and conditions, especially if it’s an unregulated crypto casino! Study and evaluate how clear and transparent the rules are before you start registering. It is the only way to save yourself from missing money or stolen data problems.
Crypto casino games are definitely not a new pastime. However, only in recent years crypto casinos started to transform from a niche product for enthusiasts into full-fledged alternatives to traditional gambling establishments.
And, in fact, the key difference with regular casinos they have is the currency the game is played with.
Many Canadian crypto casinos are safe. On our site, we publish ratings of the casinos, which are trustworthy.
Registration in the crypto casino is almost no different from creating an account at a regular casino.
Use a crypto wallet to transfer money to your account at the casino.
Most likely, yes. Many providers do not put restrictions on the currency used in the slot.
As a rule, it is a bonus for registration or filling out a personal profile. Sometimes it is free spins, sometimes payout multipliers or freebies.