The continuous growth of the online gambling industry worldwide has prompted Canadian and foreign operators to improve their online casinos. This includes innovative games, high-quality graphics, casino bonuses, and enhanced online security. One of the latest upgrades to online casinos today is the addition of modern payment options such as cryptocurrency.
Conrad A. Brennan, one of the most respected gambling experts, discusses the online crypto casino Canada and how they became popular in the country and globally. Learn more about the casino expert through his page.
What Are Crypto Casinos?
Land-based and online gambling is legal in Canada, but local companies cannot operate online gambling sites without a licence. Over 75% of Canada’s population aged 18 and above have already participated in some kind of gambling in the country, making Canada one of the biggest gambling countries in the world.
Because of this, local and offshore casino operators have opened their services to Canadians, increasing competition and demand. To attract Canadian gamblers, operators use modern technology and provide their best online crypto casino offers in Canada. These gambling sites mainly accept cryptocurrency in both deposits and cash-out transactions.
Online crypto casinos became possible because of blockchain – a new technology that’s becoming a game-changer in the industry. Combining these two strong factors leads to more players and crypto investors in online casinos.
Reasons Why Crypto Casinos Became Popular
Why do Canadian gamblers like crypto casinos? Here are the main reasons online crypto casinos have increased in popularity recently.
1. Proven Secure Payment Method
Currently, over 2,000 online casinos in Canada have multiple payment options, like cryptocurrencies. Canadian players look for gambling sites that provide convenient, instant, and secure financial transactions.
The best online crypto casinos don’t just do that; they also continually upgrade their encryption systems to ensure their player data are safe.
2. They Offer Various Classic and New Release Games
You may think that an online crypto casino is different from a regular online casino in terms of games. This is both right and wrong because crypto casinos offer classics and new release games, including Slots, Poker, Roulette, Baccarat, etc.
For new games that you are unfamiliar with, be sure to read the guidelines to increase your chances of winning.
3. Legal and Safe
Bitcoin is recognized as a commodity that allows Canadians to make deposits and withdrawals without violating the law. Most of these casinos make their licences visible on their websites to prove that they met all the standards required by the regulators.
Don’t worry; online crypto casinos are legal in Canada.
4. Access to Restricted Areas
Traditional payment methods may contribute to the reasons why online gambling sites are restricted or unusable in certain countries. The emergence of crypto in online gambling allowed players to access restricted gambling sites through anonymity and untraceable tracks.
Players who use digital currencies aren’t required to input their personal information, making them invisible. However, it is still essential to play on legitimate sites.
5. Potentially Higher Profit
Another reason why these casinos became popular is because of the high volatility of the cryptocurrency market. Many people invest money in crypto with the hopes of earning more. Therefore, the player’s winnings in BTC, ETH, LTC, or any type of crypto can multiply if the price of crypto continues to rise.
6. No Additional Fees
The winnings in online and land-based gambling in Canada are tax-free unless gambling is a primary source of income. However, the transaction fees, casino taxes, and other fees are still there. Players can avoid these additional fees by using a crypto wallet, as no financial institution will trace players’ gambling and transaction performance.
7. Additional Online Casino Bonuses
An excellent online crypto casino will offer exclusive bonuses. Other than the regular deposit and no deposit bonuses and free spins, crypto casinos also offer a variety of other beneficial promotions and bonuses. These are a form of incentive to make players continue to use crypto on their sites.
Types of Cryptocurrency Accepted by Online Casinos
There are more than ten cryptocurrencies available globally. However, not all of them are accepted in online gambling.
Below is the list of the most common digital currency players can use in crypto casinos in Canada.
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Litecoin (LTC)
- Dogecoin (Doge)
Cryptocurrency will continue to influence the gambling industry due to the continuous proliferation of crypto casinos and players using crypto wallets in the country. Due to the constant technological developments, many people are enticed to choose modern and instant financial transactions over traditional payment options.
Many people use cryptocurrency because of its remarkable features like secured, faster, and anonymous transactions. Online crypto casinos are a trend that will not be stopping anytime soon.