What is Bitcoin?

Bitcoin is a type of digital currency that is regulated by its players and not by an established body.

While credit cards and eWallets have so far been the preferred methods of online payment, accessing online casinos using bitcoin currency is gradually becoming more popular as players become aware of the benefits of bitcoin that are not present in other payment methods.

How does Bitcoin work?

Bitcoin transactions work by transferring value between wallets, with each wallet identifiable through a unique digital code.

Bitcoin can be bought or sold at online markets called Bitcoin Exchange. The stand-out characteristic of bitcoin is the fact that it can be traded in any currency, making it a global form of currency.

How Canadian players can use Bitcoin

Bitcoin is becoming a widely accepted form of online payment and it's not just online casinos that accept bitcoin. From online shopping sites, both local and international, to stock market frequenters to players looking to earn money in the semi-lucrative bitcoin mining industry, there is a myriad of uses for the digital currency.

Aside from the advantages of bitcoin casino free spins and earning free satoshi (the smallest unit of bitcoin currency) just for signing up with one of the best bitcoin casinos, the cryptocurrency is also simple to use online.

How to store Bitcoin

Bitcoin works in a similar manner to an electronic wallet service in that you can use the service to create an anonymous wallet with which you can use to pay for various services online. There is additional software required to use a bitcoin wallet and some technical savvy may be required for the initial setup, however when it comes to safe, convenient and anonymous online banking, bitcoin is a leader in their field.

Bitcoin transactions work by transferring value between wallets, with each wallet identifiable through a unique digital code, and each transaction appearing on a public ledger kept by all the users of the bitcoin network. These wallets can be bought and sold on various marketplaces at the currency of your choice meaning that bitcoin is truly a universal form of currency. Online casino bitcoin withdrawals can be done quickly and their value can be easily converted into the currency of your choice.

A globally accepted banking method

Being a form of digital currency that is regulated by other users rather than a bank or government body makes Bitcoin a truly global banking method.

Bitcoin transactions work by transferring value between wallets, with each wallet identifiable through a unique digital code. These wallets can be bought and sold on various marketplaces at the currency of your choice, meaning that Bitcoin is truly a universal form of currency. You can deposit your earnings from playing at an online casino accepting bitcoin and, when you make a withdrawal, you can choose the wallet you wish to send it to. From here, withdrawing it into your own currency is quick and easy.

How to make your first Bitcoin casino deposit

Using Bitcoin is a piece of cake — once the initial setup is done, you can use Bitcoin like any other payment option with an online casino.

Once you sign up at online gaming site that accepts bitcoin, you will have to make your first deposit. The casino will create a temporary bitcoin wallet connected to your gaming account, whose details you will receive. This wallet is like an eWallet — all your Bitcoin transactions will go in and out of it. When you click the deposit button, you will receive a unique text line, and once you input that into your wallet, it will be activated. From there, there is only the last step — choosing your amount and confirming. It is this simple.

How to withdraw with Bitcoin

Now that you have made your first deposit, all you have to do to withdraw your winnings is to choose your amount, input another special long text code, or an QR code, depending on your choice, enter your wallet's public address when the site asks for it, and click confirm! If you would like to now withdraw the bitcoin as cash, you can do one of two things. You can sell it to another Bitcoin user who will give you cash for it, or sell it through a Bitcoin marketplace, which will even let you choose your currency.

The best Bitcoin bonuses

The top Canadian Bitcoin live casinos have a whole range of different rewards just for using bitcoin casino software. These range from small sign-up?bonuses?to much larger bonuses for choosing bitcoin as a payment method, and all kinds of other perks and extras, making Bitcoin players some of the luckiest around.

Don't have Bitcoin? See what other types of?casino payment methods?are available for online casinos.

Blacklisted Canadian Bitcoin casinos

Unfortunately, not all online casinos that accept Bitcoin are reputable sites. These sites, referred to as 'Blacklisted' casinos, do not meet our stringent criteria for a variety of reasons including, but not limited to, slow payments, unsportsmanlike rules and non-delivery of services, and more. Our experts suggest that players avoid playing at these online casinos:

Slots of Vegas

• Unpaid withdrawals

• Poor customer support

Prism Casino

• Fake licence

• Unfair casino games

Cool Cat Casino

• Unethical business practices

• False bonus terms

You can find other tried and trusted Bitcoin gambling sites through our casino reviews.

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