Bitcoin Online Casinos
If you are looking for Bitcoin casinos, you will quickly find out that there are a variety of providers, but sometimes they are more or less trustworthy. Because as an anonymous payment method, Bitcoin is in competition with some laws that require online casinos to collect certain data about their customers. In our review, we tested the most popular Bitcoin online casinos and compiled a list of the safest in Canada, so you can be sure that you are not going to cheat.
Bitcoin at a glance
Bitcoin is a decentralized payment system that allows users to anonymously and securely process payments between two parties without third parties. The payments are recorded in the blockchain and are therefore very secure for the user.
To pay with Bitcoin, you need a valid Bitcoin wallet and the wallet address of the respective online casino. These addresses are publicly visible in the blockchain, but otherwise anonymous. Some providers also offer withdrawals with Bitcoin. In our table you can see if your favorite casino also offers withdrawals in Bitcoins. However, please note that KYC identification is not required even for withdrawals with Bitcoin.
Bitcoin Security
Since Bitcoin is a decentralized cryptocurrency, the degree of security is largely in your own hands. The most important thing is that you always protect the public key that gives you access to your Bitcoin wallet and never pass it on to anyone.
The processing of the payment is very secure due to the blockchain technology. Once you have made a payment, you can assume that your withdrawal will be received by the online casino soon. Most Bitcoin casinos will offer you a current dollar to Bitcoin conversion rate, so you know exactly how many Bitcoins you need to send to the operator to get the desired amount in dollars. It is best to also inform yourself about the current exchange rate to make sure that you also transfer your desired amount.
Deposits with Bitcoin
After you have found the wallet address of the Bitcoin casino in the deposit portal, you can transfer the desired amount as usual - as with any other Bitcoin transfer. Note that there may be different waiting times for transfers with Bitcoin, which is due to the blockchain technology of the cryptocurrency. Normally, the processing time for a block is about 10 minutes.
In addition, a small fee is also due for the use of the blockchain, but this is completely common for Bitcoin transfers. The transaction costs are adapted to the market by the blockchain and thus have a changing value. The historical average value of a transaction is about $ 9.