Crypto Casinos

Best Bitcoin Casinos Canada

Cryptocurrency in general and bitcoin in particular are becoming more and more popular, as now it is not just digital means available to the elite, but quite a real opportunity to pay for some publicly available goods and services. For example, cryptocurrency is a way to bet in an online casino. Cryptocurrency transactions are carried out as quickly as possible, and also don’t require detailed data about the owner, which is very convenient for players who once again don’t want to draw attention to their finances. MyBestCasino experts talk about the best bitcoin casinos for Canadians, as well as where the gamblers can buy cryptocurrency to play and in which cryptocurrency bets are accepted in BTC casinos.

Top 10 Bitcoin Casinos for Canadian Players

Sort by:
Rating
Name
Bonus
Established
Payment speed
Win rate
Games
Sort by: Rating
Rating
Name
Bonus
Established
Payment speed
Win rate
Games

Why are Crypto Casinos so Popular?

There are several reasons why crypto casinos are of interest to gamblers. These’re anonymity, tax freedom, fast transactions and low commissions. Let's take a closer look at each of the points.

Fast Transactions

Online gambling for money requires regular replenishment of the game deposit. Today, this can be easily done using online payment methods through bank cards, vouchers, electronic wallets, and so on.
In these cases, the money appears on the gaming account almost immediately after the transaction. True, in the opposite direction (from the game account to the bank account), fiat money goes much longer. It is not uncommon for fiat to be transferred to a bank account within a few days or even longer.

Anonymity of Gamblers

Compared to traditional online casinos, where registration takes a lot of time because you need to diligently fill out numerous fields in the questionnaire, crypto casinos don’t require a lot of personal information from the gambler. This is because the best crypto casino is based on blockchain technology and cryptocurrencies, which are decentralized and anonymous.
Therefore, the gambler doesn’t need to play in the casino, revealing their identity, as is the case in traditional online casinos. Just a crypto wallet address is enough.

Tax Freedom

At the moment, the cryptocurrency area is not subject to strict regulation. Transactions that are carried out through crypto wallets are difficult to track. In fiat online casinos, there’s always a risk that such transactions may be of interest to financial services, especially if large amounts of money come to the bank account, and regularly.
After all, fiat casino winnings are taxed in many countries. Bitcoins are not subject to such risks, money from a gaming account to a crypto account is credited very quickly and is not taxed in most countries.

Low Fees

A fiat online casino doesn’t charge a fee for depositing funds into a gaming account, but when it comes to withdrawing winnings, there may be questions about the percentage of the commission. At the best crypto casinos in Canada, all transaction fees are small (or none at all), as cryptocurrencies are not banked and don’t require conversion fees and bank fees.

Pros and Cons of Playing in Bitcoin Casinos

Digital currency is becoming a part of our lives, and crypto casinos are a very common phenomenon today. Players who prefer the crypto game are aware of its advantages: low fees, anonymity, transaction speed, etc. But this is just the tip of the iceberg. Crypto-focused online casinos have both pros and cons. Let's take a closer look at each side of this 'medal'.

Pros of Bitcoin Casinos

 1. Special promotions for gamblers

Increasingly, both hybrid and crypto casinos offer separate options for promotions and bonuses for crypto players. For example, a hybrid casino may have a traditional welcome bonus based on fiat currency, but also a cryptocurrency welcome bonus specifically for users of bitcoin and other cryptocurrencies. It often happens that these specialized cryptocurrency bonuses are much more profitable than promotions for standard payment methods.

 2. Provably Fair function

This function is exclusive to blockchain casinos. It’s based on an algorithm with a cryptographic method, which ensures that each new result of the game doesn’t depend on any factors and nothing can affect it. A feature that is singled out in an online casino as a separate category of games, demonstrates that the game is played transparently and fairly, and the result is guaranteed to be random.

 3. More solvent audience

Cryptocurrencies are mainly interested in /used by representatives of the middle and upper class. The LTV of such traffic is significantly higher (6-10+ times) than that of the players who came from the Android pre-lander. This means higher CPA rates and earnings when working with RevShare.

 4. GEO Worldwide

Crypto casinos are not tied to currencies and payments of a particular region. The player can deposit with BTC/ETH/USDT/etc. from anywhere in the world, all payments are made anonymously. To open GEO, only the English interface is needed. The exception is Asian countries, where separate localization and support are needed.

 5. Hype

Cryptocurrency today is a trend. It is technologically advanced, convenient and in step with the times. Interest in the topic attracts users. Additionally, the audience is warmed up by news about the legalization of digital coins, the development of new ones at the state level, as well as info-businessmen who made a fortune on blockchain transactions.

Cons of Bitcoin Casinos

1. Irreversibility of the process

Decentralization, which plays into the hands of gamblers, has a downside. Since no one exercises control over the blockchain, even if certain problems arise, the support service will be able to help gamblers only partially. For example, it is enough to make one small typo in the address during the transaction, as the money will leave the account in an unknown direction and it will be incredibly difficult and even impossible to track them.

2. Volatility

Cryptocurrencies have a very high volatility: it happens that their value instantly rises by 30%, and then falls by 40%. And this is a common thing. In addition, there’re online casinos that immediately convert virtual currency into fiat and a gambler can lose a certain amount of money during the transaction, the amount of loss depends on the conversion rate.

3. Difficulty retaining players

Despite the high solvency, crypto-casino players are extremely demanding on freebies and the level of service. A successful product must have enough bonuses (including free giveaways), fast support, rates below market rates, and instant withdrawals. All these factors affect NGR, and, accordingly, the earnings of a webmaster.

4. The other side of anonymity

Not all gambling operators behave honestly towards players. Some may take advantage of the anonymity that cryptocurrency provides to avoid paying out winnings. Users take this possibility into account, so they may be wary of such products. Therefore, a gambler shouldn’t choose the first bitcoin casino that comes across, it’s better to study the reviews of players and top bitcoin casino sites.

Types of Wallets for BTC Casino

As we have already said, the most common wallet options for BTC casinos are hot and cold crypto wallets. Let's take a closer look at each of the options.
Hot Crypto Wallets
Cold Crypto Wallets

Desktop wallet

A desktop wallet is a special soft that’s installed on a computer. When installing such a wallet, a removable hard drive (SSD drive) can be used. With it, the wallet stores data on all cryptocurrency transactions.

Mobile wallet

A mobile wallet is an app on a smartphone or tablet. Private keys are stored encrypted on the phone, and transaction data is stored on third-party servers.

Online wallet (web wallet)

An online wallet (web wallet) works through a browser that can be accessed from any device. It’s considered the most insecure type of crypto wallets, since all key data is stored on remote servers. Such wallets are recommended to be used only for small amounts and only for short periods.

Software Wallet

Software (desktop and mobile) – combines the characteristics of desktop and mobile crypto wallets.

Hardware Wallet

A hardware wallet is a special device that stores private and public keys. A hardware wallet is similar to a USB flash drive with a display and connects via a USB port. Such devices can store multiple cryptocurrencies and tokens. The private key is embedded in the hardware wallet, so it cannot be hacked over the internet.

Paper Wallet

A paper wallet is a piece of paper on which a private key is written in the form of a QR code. This type of wallet is opened through special sites, but the key data is not contained in electronic form, but on a physical medium (paper). This method doesn’t involve storing tokens.

Popular Cryptocurrencies for Playing in the Casino

Every day the list of crypto-currency assets is increasing. True, not all of these virtual coins can be used to make a deposit or place a bet in casino table games. Consider the most popular of the options.

Bitcoin

Bitcoin (BTC) appeared in 2009 and gave rise to the development of the modern cryptocurrency market. Nothing is known about the creator of this virtual coin, except for the pseudonym Satoshi Nakamoto. One of the reasons for Bitcoin's success in the iGaming industry is that BTC is the first coin of its kind to be represented by a single public and private piece of code.

Ethereum

The Ethereum (ETH) blockchain project was launched in 2013. The main idea is to simplify the development of decentralized applications through the use of smart contracts. Many apps and games are based on it.

USDT

Tether (USDT) is a cryptocurrency asset that is pegged to the value of fiat currency - USD. Soft developer Craig Sellers, entrepreneur Reeve Collins, and bitcoin investor Brock Pierce joined forces to create a high-yield, low-liquidity cryptocurrency. Thus, USDT was issued in 2014.

Dogecoin

Programmers Jackson Palmer and Billy Markus launched Dogecoin (DOGE) on December 2013. The coin was conceived as a joke against the background of the rapid growth and the same rapid fall of bitcoin that year. As a symbol of the virtual coin, the creators chose a meme with a dog of the Japanese breed Shiba Inu, which was popular at that time. In January 2021, Reddit users created demand for DOGE, increasing its value by over 800% in 24 hours.

Dash

Developer Evan Duffield wasn’t happy with the lack of anonymity in the Bitcoin protocol. In January 2014, they released their own cryptocurrency, Dash (DASH), which corrected this shortcoming. In terms of privacy, transactions with Dash coins can be compared to the use of cash, which is almost impossible to trace. This became possible due to the combinatorial combination of a number of cryptographic algorithms.

Litecoin

Litecoin (LTC) appeared in 2011 thanks to the efforts of former Google engineer Charlie Lee. LTC is a cryptocurrency based on Bitcoin and is one of the first altcoins - alternative BTC coins.

Monero

Cryptocurrency Monero (XMR) appeared in 2014 in Spain. Monero means ‘coin’ in Esperanto. A distinctive feature of this cryptocurrency asset is a high degree of security and anonymity of transactions. This was achieved through the use of the mechanism of mixing and hiding email addresses, ring signatures and the Cryptonote algorithm.

5 Steps to Start Playing at a Bitcoin Casino

01

Create a Crypto Wallet

There are two types of crypto wallets: hot (provide online storage) and cold (provide offline storage of cryptocurrency). A cold wallet is a physical device or app designed to store and manage cryptocurrency without a regular internet connection. Cold wallets require a connection to the Network only when the user needs to perform some operation. A hot wallet involves fast or continuous communication with the blockchain via the Internet. Users can replenish the balance or withdraw funds at any time.

02

Get Bitcoins

Cryptocurrency can be purchased on the website of the crypto exchange or in the mobile app. If you decide to register at a bitcoin casino, you can be sure that bitcoins are accepted there, but this is not the only cryptocurrency. Sometimes a gambler, having chosen the best online bitcoin casino and registered in it, notices that the most favorable bonus conditions are offered for other cryptocurrencies, and not for bitcoins. In any case, before prioritizing cryptocurrency, the player should make sure that it’s accepted at the online casino where they decide to register.

03

Decide Where you Will Store Bitcoins

There’re two options for storing crypto: leave it on the exchange site where you purchased it, or transfer the crypto to another wallet. Some gamblers transfer cryptocurrency immediately after purchase to another wallet, as there are more favorable storage conditions. For example, it offers trading options within the wallet itself. Or another crypto wallet, in addition to the digital form, also has a physical form (USB drive), so that the gambler, in addition to storing crypto in the cloud, gets the opportunity not to lose access to their wallet, even if they forget passwords and private keys.

04

Choose a Bitcoin Casino

When you’ve done everything necessary to become the owner of the crypt, you can choose from the assortment of the best bitcoin casinos that are most attractive to you. We recommend taking into account indicators such as the presence of games that you are interested in playing, the bonuses offered, and the availability of payment methods you need. Also check how things are with the cryptocurrency deposited into the account. The fact is that there’re crypto casinos that accept crypto and immediately convert it into traditional currency, and there’re crypto casinos that give players the opportunity to play for crypto without conversion.

05

Create a Bitcoin Casino Account

Crypto casinos usually have a very fast and convenient registration procedure. After completing the registration, deposit funds from your crypto wallet to the game account and you can start playing!

Where Canadians Can Buy Bitcoin for Casinos

The answer suggests itself – on the crypto exchange. But before purchasing crypto, please read the recommendations for choosing a crypto exchange.

  1. There is nothing more important when trading cryptocurrencies than the safety and security of an exchange. Every top Canadian crypto exchange should have excellent security measures in every aspect.
  2. Pay attention to the variety of tokens and coins. It doesn’t matter if you are a cost averaging person or just someone who wants to become a successful day trader, you most likely need an exchange that allows you to trade various cryptocurrency trading pairs.
  3. Don’t forget to take a look at the fees of the best crypto exchange in your opinion. Some platforms offer decent fee models, while others are slightly more expensive in this regard – whatever the situation, fees can be something that will significantly affect your potential earnings, so this topic is worth paying special attention to.
  4. It is also worth considering the exchange’s support for credit card and bank transfer payments, as well as how convenient it’s for beginners in general.

Top Crypto Exchanges for Canadians

Would you like to invest in cryptocurrencies in Canada and are looking for the right exchange for this? We offer you brief reviews of the top crypto exchanges that provide their services to Сanadians. These cryptocurrency platforms have proven to be the best among users due to risk minimization, scam protection, advanced functionality, user-friendly interface, favorable commission percentages and much more.
Bitbuy
CEX.io
CoinSmart
Coinsquare
Coinmama
Kraken

Bitbuy

BitBuy applies strict security measures to both gamblers’ crypto wallets and any personal info on the site. The platform is constantly audited and follows all the regulations and rules in the country. Given that BitBuy is located in Canada, it can comply with the regulations in the country, as well as update its service model at any time when a new law appears. This is important because it allows all users of the platform to be sure that they are using an official and legal crypto exchange.

The platform has a functional mobile trading app, is easy to use even if you have never done it, and also offers fiat currency support. The only drawback associated with BitBuy is that it only supports 9 crypto assets. Naturally, this includes cryptocurrencies like Ethereum and Bitcoin, as well as other lesser-known assets like AAVE or EOS.

CEX.io

Cryptocurrency exchange allows Canadians to trade cryptocurrencies on the platform hassle-free and also has great features and benefits. The most obvious is ease of use. CEX is very beginner friendly – it has a clear user interface that can be used for trading, accessing the wallet and withdrawing funds. The exchange offers advanced functionality for everyone interested, but doesn’t show all these complex features for everyone. Instead, you can find them in a separate section of the site or app.

CEX is considered by many to be a very reliable trading platform – it has important security features such as two-factor authentication, e-mail notifications, and so on. Depending on various factors, Canadian traders can earn between 0% and 0.25%. This puts CEX in line with other top exchange platforms, at least in terms of transaction fees. CEX has both a website and a mobile app.

CoinSmart

This exchange is a centralized platform. In other words, it’s managed by a centralized company and ‘looks after’ all of its operations. This, in turn, means that it must comply with KYC regulations and laws. The exchange is registered with FINTRAC and therefore applies KYC and AML checks to all users.

One of the most important aspects of the reliability of the exchange is that CoinSmart stores most of its crypto assets in cold wallets and the funds in these cold wallets are also insured. That is, if something happens to the cryptocurrency stored on the exchange, then insurance will be able to cover losses, depending on several aspects.

CoinSmart supports many major coins: Bitcoin, XRP, Etherium, EOS, Dogecoin and so on. On the one hand, this reduces the risk of Rug Pull or another scam, on the other hand, the lack of a variety of coins and tokens can turn certain investors away from the exchange.

Coinsquare

In the fall of 2022, Toronto-based Coinsquare became the first crypto exchange to receive registration as an official trading platform with the Investment Regulatory Organization of Canada (IIROC). This means that now the funds of Coinsquare investors are protected by the Canadian Investment Protection Fund in case of insolvency, and the exchange is required to regularly report on its financial condition.

Coinsquare is one of the leading exchanges in Canada and supports Canadian dollars available for trading in Bitcoin, Ethereum, XRP and other digital currencies. The platform implements 2 trading methods: spot for advanced traders and fast for beginners.

Coinmama

Coinmama users note that it is aimed at both novice traders and those who are more experienced in the field. This is because although the user can keep the interface simple, they also have the opportunity to take advantage of the advanced features of the platform.

Canadians can trade cryptocurrencies on Coinmama without restrictions or problems. But this is if you don’t take into account the limitations of the platform itself. More specifically, Coinmama only supports about 10 different cryptocurrencies. It‘s a very small amount and is likely to be useful only to the user who is looking only for the main crypto assets.

Kraken

All of the above crypto exchanges are Canadian, but Kraken is an American crypto exchange. It’s very popular in Canada for many reasons. First of all, Kraken supports over 150 different crypto coins and assets. Compared to many other exchanges that operate in Canada, this number is impressive. Naturally, the list includes all major cryptocurrencies, as well as a wide selection of different tokens.

Kraken is also considered by many to be a convenient way for beginners to join the world of cryptocurrencies. The exchange has both a website and a handy mobile app where you can access your wallet and participate in transactions. Both of these interfaces are very intuitive and easy to navigate, and shouldn’t confuse the user.

While it may be obvious by now, Kraken is subject to all Canadian government regulations. By using the platform, you can be sure that you are not breaking the law, especially given the platform’s strict KYC checks. In addition, Kraken’s commissions are some of the best. They range from 0% on all user transactions to 0.26% per transaction.

FAQ