Bitcoin casinos – Why they are so popular

This image shows the Bitcoin logoThe world is changing and almost no area shows that as much as the global financial system with it`s currencies. Not so long ago, Bitcoin was only known by computer experts. However, in 2020 almost every one knows what a Bitcoin is. In a nutshell, Bitcoin is a kind of digital currency which is making use of sophisticated encryption techniques and this process has been effectively used to regulate the generation of units of currency and furthermore it will verify the transfer of funds and all of these processes will be executed independently of any central financial institution. For many people Bitcoin has become somewhat of a hot commodity and especially so among financial speculators and Canadian casino players. That can be seen if you look at the accepted payment methods of many online casino sites. Further, in the following table you can see some operators that accept the cryptocurrency and offer great promotions.

  • Mobile App
    Apple and Android icons
  • Rating
  • Bonus
  • Huge promtions
  • Many mobile games
  • Great usability
Provider Rating Offer Mobile App Bonus Review To the website
Playamo casino logo 96%
  • Top games
  • Fast withdrawals
  • Many promotions
Apple and Android icons C$1500 Playamo review Play now!
The Spin Casino logo in 150x38 pixel 94%
  • Huge game selection
  • Fast payments
  • 24/7 support
Apple and Android icons C$1000 Spin Casino review Play now!
The third All Slots logo 92%
  • Hundreds of slots
  • High payout rates
  • Great live center
Apple and Android icons C$1500 All Slots review Play now!
A third Royal Vegas logo 90%
  • Great customer service
  • Modern games
  • Progressive jackpots
Apple and Android icons C$1200 Royal Vegas review Play now!
The third Europalace logo 89%
  • Great welcome offer
  • Many table games
  • Fast live chat
Apple and Android icons C$600 Europalace review Play now!
Image that shows the 888Casino logo 88%
  • Reliable provider
  • Award winning site
  • Fun games
Apple and Android icons C$140 888 Casino review Play now!
The small Leovegas logo 86%
  • Award winning site
  • Great mobile experience
  • Top games
Apple and Android icons C$1000 Leo Vegas Casino review Play now!
The last Royal Panda logo 85%
  • Many promotions
  • Fast & secure payments
  • Many Top slots
Apple and Android icons C$100 Royal Panda review Play now!
The 3rd Bodog Logo 83%
  • Modern live center
  • Great payout rates
  • Good mobile site
Apple and Android icons C$600 Bodog review Play now!

Pros and Cons of the currency

Bitcoin is not linked to any national or global currency, it is a completely standalone currency which first appeared on the global scene in 2009. This currency has a whole range of features which distinguish itself from other kinds of financial transactions. Bitcoin just like other alternative payment methods, such as Paypal, completely protects both the identity and the finances of their members.

Whenever doing transactions with Bitcoin it will never be necessary to share your personal identity in any transaction whatsoever which is done by using Bitcoin. It is almost like making use of cash when paying for services or goods.

You do not need any membership card or some other form of identification which could possibly end up in the hands of criminals, rather the process is executed by using a completely anonymous Bitcoin address and even that will change with every transaction to eliminate any possibility of criminal activity. However, not many people know about the advantages and disadvantages of the method, like severe highs and lows.

The chart of the cryptocurrency BitcoinWith Bitcoin it is entirely possible to both send and receive payments and the costs of those transactions are extremely low and in some cases completely free. The advantages when doing international transactions are extraordinary because there will be no need to pay any exchange fees which are especially beneficial to people who are traveling frequently. It should be understood that just as with any other payment, such as wire transfers, it is simply not possible to have those transactions reversed.

Only the person who has received those funds will be able to do a refund. This is why anyone doing a deposit or transfer of money should take special care that such money is going to the correct address because should mistakes be made, the consequences can be very negative. Unfortunately, it is not possible to get any form of liability protection when using Bitcoin. If any losses occur, it is mostly impossible to recover them.

Best gambling sites that accept the currency

With Bitcoin many of the problems associated with casino deposits are eliminated and this is why various Bitcoin casinos have become Bitcoin partners. These Bitcoin casinos include: Playamo, Bob Casino, Betchan, Cloudbet, Vegas Casino, Bit Starz, 7 Bit Casino, Fortune Jack, mBit Casino and Limoplay. All of these casinos as well as their members have benefited from Bitcoin membership and all of the benefits associated with that currency.

Playamo accepts Bitcoin

How to set up an account

The signup process is relatively simple. You simply have to create a digital currency wallet which can then be used to store your digital currency securely. The next step will be to connect your bank account or any other financial facility which you may have, such as credit or debit cards, because you should be able to trade your digital currency for local currency as the need arises. The next step is to actually invest in Bitcoin by purchasing a certain amount of this digital currency. Once this is done you are ready to use your digital currency to actually purchase services or goods. Please keep in mind that at this moment only a few online casinos accept Bitcoins.

The 300x60 pixel Playamo logo


How to withdraw and make payments

In Canada, any Bitcoin account holder who is wishing to withdraw funds will have to sign in to their respective account and then select the withdrawal option which is situated on the top navigation bar. The process is virtually the same for payments as the following image shows.

How to make a Bitcoin withdrawalSimply select accounts on the left-hand side of the page and then simply select the deposit button on the top right hand side which should result in a situation where the money is transferred to the destination account.

How you use a crypto exchange

Getting set up at a cryptocurrency exchange is easy, and doing so makes buying currencies like bitcoin easier than going through methods that have the potential to be more convoluted. The first step is to sign up for an account at the exchange of your choosing, which will set you up with a cryptocurrency wallet, where all of your various currencies will be stored. During this process, you may be required to input some sort of payment information like a credit card, which will allow you to buy cryptocurrency.

Once your account is set up and you have the ability to buy cryptocurrency, your next move is to purchase some crypto. The most popular cryptocurrency is Bitcoin, but you may ant to purchase other types such as ethereum or litecoin. Regardless of what you pick, the basic idea is that these currencies can be exchanged for Canadian dollars. Once those exchanges are made, the user can then use their cryptocurrency as they please at venues that accept it.

Keep in mind that the more popular the cryptocurrency type, the more likely it is to be accepted when attempting to purchase goods or services, with bitcoin being the most likely to be accepted.Pretty simple, right? Well the following image makes things even more convenient and summarizes the steps.

How to set up a crypto exchange account

Safety aspects of the currency

You will need to provide your personal information when you create your Bitcoin account, but thereafter there will never be any further need to share your personal information because all transactions are handled through Bitcoin. This provides Bitcoin users with peace of mind because they know that every transaction in which they are involved will always be completely secure and the possibility of any illegal activity on that account is just about zero. This is because of the high level of cryptology which is used in Bitcoin.

Bitcoin has had a run as one of the most popular currency phenomenon in the world, with the cryptocurrency being worth over $25,000 in Canadian dollars at one point. But Bitcoin has proven to be a volatile currency over the course of its history, which is something that people looking to adopt the currency should be wary of before they begin trading in more traditional currency to obtain it.

As with most financial dealings, those who got in on Bitcoin early on are still well ahead of the game, as the currency was worth next to nothing when it was first introduced. But it quickly gained in popularity, and experienced a boom in value as a result all the way up to that $25,000 number mentioned earlier. Now, after years of gaining in value, Bitcoin has fallen to under $5,000 each, with those who purchased Bitcoin at its peak value taking a bath financially.

Of course, it is entirely possible that Bitcoin becomes more valuable again. But it is also possible that Bitcoin continues to decline in value as well, making it a volatile investment for anyone looking to get involved in cryptocurrency. If you are going to get into crypto, be sure to do so responsibly, understanding that the investment may lose value.

The third Betchan logo


Anonymity provided by the trending currency

When it comes to online money transfers no one wants to be taken for a fool and this is why it is necessary to take every possible precaution when sharing your information online and this process is made significantly easier when Bitcoin is used. There is simply no longer any need to transfer money with disputable methods which is carrying unnecessary risks. Take your casino online payment to the next level with this interesting cryptocurrency.

Cales Crosby - Editor in Chief
Bitcoin is not a hype. Even Online Casinos accept the leading cryptocurrency for payment and withdrawals.

Caleb Crosby, Editor-in-chief