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Among the most popular currencies offered across most online casinos, you'll certainly find the Canadian dollar listed. This is one of those currencies that although offered in only one country, Canada, is considered a mainstream currency used across all industries, including the online gambling industry. As such, it is also an option provided by most payment method providers, making it a perfect match for all those Canadian players frequenting online casinos. In this article, you’ll discover more about the history of the currency and discover some excellent payment method options that you could use to make the most seamless deposits and withdrawals across many casinos. Why choose the Canadian dollar as your default currency at online casinos?
The History of the Canadian Dollar
The official currency in Canada is the Canadian dollar. This North American country introduced it way back in 1858 and has been used within its borders and beyond for years after. Previously, the Canadian pound was used, from 1841 until the new currency was introduced.
And even though it might not be as widely used and accepted as the USD, the official currency of the United States of America, it is still one of the mainstream currencies used all across the globe, across most industries.
Since it is also offered widely across the online gambling industry, with the aim to cater to all those Canadian players frequenting online casinos, it is important for you to be familiar with the denominations it comes in. The coins in circulation to this day are the 2, 1, 25, 10, and 5 cents, while the notes are the 100, 50, 20, 10, and 5 dollar bills.
So, now that you know a bit of its history and the denominations, to get the most seamless online gambling experience with it, we’ll present to you some of the best payment methods you could use for deposits and withdrawals that accept the currency.
The Safest Local & Global Methods that Accept CAD
When it comes to the legality of the Canadian online gambling industry, you should know that the activity is duly regulated, both on the national and on province levels. Canadian players are free to gamble online whenever they want to and have access to both national and international online casinos. Now, even though most global well-known payment methods accept the CAD, such as MasterCard and VISA, there are plenty of local methods that are offered across the online gambling industry for years, which you could consider using to make the smoothest deposits and withdrawals in your native currency. The following are some of the top local Canadian payment methods which accept CAD:
- Interac – If a Canadian player, there’s not a chance you haven’t heard about Interac or used it already; this is by far one of the most trustworthy and popular payment methods in Canada. It was launched over 30 years ago and as such it is one of the most reliable solutions with a huge network connecting all kinds of merchants, banks, payment companies, trust companies, and credit unions, among other financial institutions. It offers several services, but the ones popular across Canadian online casinos are Interac Online and Interac eTransfer. Nevertheless, it is one of the most cost-efficient and convenient methods to use, to make seamless transactions in Canadian dollars with it.
- Vanilla Prepaid – Vanilla Prepaid is a card launched for the Canadian market in collaboration with the giant MasterCard. Years after, it even partnered with VISA, and today, it is one of the most widely used prepaid cards by Canadians. It is an incredibly popular card that comes in multiple denominations, created for the purpose of facilitating online payments to users. Even though not an option for withdrawals due to its nature, it is players’ top choice when it comes to deposits, since it allows for quick, convenient, and fee-free transactions. If you wish to use it, you can purchase it both offline and online.
- INSTADEBiT – Known internationally, but launched and headquartered in Toronto, INSTADEBiT is one of the best payment methods in Canada, being offered across online casinos ever since its launch in 2003. It is a solution Canadian players swear by, as it is essentially a payment processing service that functions like an eWallet. As such, it is incredibly easy to use and offered for both deposits and withdrawals, so no wonder it is a player-favorite solution across casino sites. These are all reasons why you’ll find INSTADEBiT across the finest Canadian casinos, giving you the chance to transact in Canadian dollars without having to pay conversion fees.
Casinos that accept Canadian Dollars
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