If an online casino player from Canada, you know that online gambling is perfectly legal in your country, and you know that many Bitcoin casinos are perfectly accessible to Canadian players. Therefore, you have no obstacles in gambling online using the world’s first cryptocurrency. If this sounds like something you’d want to try, you’re on the right page. Here, we’ll take you through the regulations and introduce you to Bitcoin, as well as tell you the top payment methods that offer BTC gambling across online casinos. Why choose to use Bitcoin across online casinos?
Cryptocurrency Regulation in Canada
When Bitcoin was first launched, people and governments were suspicious about it, and it was not very well received on a global level. Canada was among those countries that did not initially accept it; in fact, it even considered taking a stance against Bitcoin. But with time, it warmed up to it. And while Bitcoin is not a legal tender in the country still, Canada is actually one of the most crypto-friendly nations in the world.
The country has taken quite a cautious approach to it, and while not making it entirely legal, it has still introduced cryptocurrency regulations, to have a bit of control in asset trading. The regulatory framework regarding crypto is evolving in the country, and developing, with constant updates being published by the CSA (Canadian Securities Administrators).
Therefore, you’re not forbidden to trade crypto, as long as you comply with the rules, and as long as you purchase Bitcoin at a registered trading platform. Now, we’ll cover the exact process you need to go through to get some BTCs, but first, let’s cover something else, too.
Since online gambling is legal in Canada, you can use Bitcoin to make your deposits and withdrawals with it. Offshore operators are allowed to cater to Canadian players, as long as they are regulated by local authorities. Most of the provinces have their own gaming regulators, such as Ontario, Saskatchewan, Nova Scotia, British Columbia and Alberta, to name a few. And since most of these provinces are also Bitcoin-friendly, you are all set to indulge yourself in amazing cryptocurrency online gambling. Let's see next how you can get started with and use Bitcoin across Canadian online casinos.
Using Bitcoin Across Online Casinos
Naturally, to start using Bitcoin across Canadian online casinos, you first need to have the coins. So, the first step would be getting some, right? Now, what you can do is mine or buy them. While mining is something that people do, it takes up a lot of your time, energy, and money, to be honest, and is really unnecessary since you can purchase crypto on a trading platform, with fiat currency, hence Canadian dollars.
Assuming you wish to go with the second option, you just need to look for the top trading platform and register an account with it. Coinbase launched in Canada not so long ago, and this is a great platform you could consider; while Binance is also superb, it ceased its operations in Canada in May 2023. But, you can try and look up other options, and join the one that would work best for you.
The next step would be linking a payment method to this platform so that you can complete the purchase. You'll have crypto wallets as options (since you can purchase BTC with other cryptos), standard cards like MasterCard and VISA, eWallets, mobile payment solutions, and prepaid cards as options, for sure. Choose the one that you'd like to use and just select the amount you wish to purchase, and pay for the purchase. With that, you'll have bought your BTCs.
Now you'll need to store them. Many crypto wallets are your options, such as Ledger Nano S, MetaMask, and Exodus, so again, you'd need to do your little research and decide on the one you'd want to go with. Register your account with it and you'll get the two addresses, the private and public, which will serve as your identification, your keys, and your actual addresses where from and to can coins be sent/received. You need to have them saved, and never share them with anyone, of course. You’ll transfer the coins from your trading platform profile to your crypto wallet, and with that, you’ll be ready to start using it them across online casinos.
The final step would be choosing a proper Bitcoin casino to join. As said previously, plenty of casinos catering to Canadian players offer it, so you’ll have no issues in finding the perfect one for you to join. Once you do, register an account with your chosen casino.
To make a deposit with Bitcoin, you’d need to do the following:
Visit your chosen casino’s Banking page and select Bitcoin.
Select the amount you wish to deposit and copy the casino’s address.
Paste the address to your crypto wallet and confirm the transaction.
In an instant, your BTCs will arrive on your casino balance.
Withdrawals are also super-quick, near-instant with Bitcoin, and that’s why this is one of the most popular withdrawal options among Canadian players. You’d need to go through a similar procedure for withdrawals, this time copying your own crypto wallet’s address and entering it at the designated field on the Withdraw page, specifying how much you wish to withdraw. As soon as the casino approves the withdrawal, the coins will reach your crypto wallet in no time.
Casinos for Players from Canada that Offer Bitcoin
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Since online gambling is legal in Canada and there are plenty of Bitcoin casinos for you to join, you are free to engage in your favourite activity whenever you want to. Now, you should know here that in case you cannot find Bitcoin as an option in your favourite online casino, you still have the chance to use BTCs for deposits and withdrawals. The thing is, many modern payment solutions, which cater to Canadian users, have included Bitcoin as a currency option. These are mostly eWallets and prepaid cards, which makes it even better, since these are great for online gambling transactions and mostly used by players anyways. Ready to find the top 3 methods offering Bitcoin that you can find across the best Canadian casinos? Here they are:
Perfect Money – Headquartered in Switzerland but with no country restriction whatsoever, Perfect Money is a multicurrency payments system that completes transactions in gold, fiat, and digital currencies. In fact, you can have several different sub-accounts with it, so a Bitcoin-only account, too! Transactions with it are instant, but what's best, with Bitcoin, no fees apply! Since it is an option across so many Canadian casinos, if looking for the top method to use, this is one you should really consider.
MoonPay – MoonPay is the solution you need if you need a direct fiat-to-crypto provider. Created in the heart of Malta, the country that was among the first to embrace crypto, this is a platform where more than 160 currencies can be used, CAD included, for the purchase of over 90 cryptos, BTC included. Through it, you can both buy and sell Bitcoin and use it across Canadian online casinos. So, it is another excellent option to keep in mind if interested in using BTC for deposits and withdrawals across Canadian online casinos.
MoneyGram – Not only is this one of the most popular money transfer services, available all across the globe, but MoneyGram also offers an in-app service to hold, buy and sell Bitcoin, among other cryptocurrencies. This is one of the most widely accessible money transfer service providers and most trusted ones, so if you have used it or you have its app on your smartphone, you can enter it right away and in just a few taps, you’ll be making Bitcoin transactions. And since this is one of the most widely-available payment methods across Canadian casinos, make sure you give it a try!
Conclusion
The coast is clear for you as a player from Canada, the Bitcoin-friendly country where online gambling is perfectly legal. You can join any Canadian online casino that accepts it, or any of the three top payment methods that offer it, and start using BTC for your deposits and withdrawals.
So, look no further, as you’ve found the perfect match for you: you have found one of the fastest payment solutions that is available across most if not all, Canadian online casinos. Join one and use this amazing crypto, to experience seamless online gambling time.
FAQs
Does Canada regulate Bitcoin and other cryptocurrencies?
While Bitcoin is not a legal tender in Canada, the country implements regulations on crypto trading, therefore, in some ways, crypto regulations are in place.
Do many Canadian online casinos offer Bitcoin?
Yes, indeed. Many online casino operators that offer their services to Canadian players offer cryptocurrencies, Bitcoin included; you can rest assured you’ll have plenty of options to consider.
Do I need to pay taxes if I buy or hold Bitcoin in Canada?
No, not really. If you're only buying it, holding it, and using it for purchases, you won't need to pay taxes. But, if you're selling it, you are subject to business income taxes and capital gains.
Who do I get in touch with if I experience issues with my Bitcoin deposits/withdrawals?
You'd either need to contact your casino's Customer Support or your payment provider if using one of the top 3 methods that offer Bitcoin. They should help you out with any difficulties or issues you might be facing with BTCs for your online gambling transactions.
Do Canadian casinos impose fees for BTC deposits and withdrawals?
No, not really. In fact, crypto deposits and withdrawals are among the most popular across Canadian casinos exactly because they are usually fee-free.
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When Bitcoin was first launched, people and governments were suspicious about it, and it was not very well received on a global level. Canada was among those countries that did not initially accept it; in fact, it even considered taking a stance against Bitcoin. But with time, it warmed up to it. And while Bitcoin is not a legal tender in the country still, Canada is actually one of the most crypto-friendly nations in the world.
purchase of over 90 cryptos, BTC included. Through it, you can both buy and sell Bitcoin and use it across Canadian online casinos. So, it is another excellent option to keep in mind if interested in using BTC for deposits and withdrawals across Canadian online casinos.