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Everything you need: Playing at a Crypto Casino in Canada
As cryptocurrencies are getting more and more accessible, options are now available to gamble with it online!
Bitcoin and other currencies that exist solely online are more popular than ever. And with the new currency opportunities, new online casinos are opening up options to play casino games with cryptocurrencies.
But what do you need to know in order to gamble with cryptocurrency? What should you be looking for in an online casino? Here we’ll list off some of the most important parts of crypto casinos in Canada.
The Differences Between Crypto Casinos and Other Online Casinos
Though they share the same basic functions, gambling online, but they vary in many other ways. Primarily the difference is the currency used to gamble with; rather than using Canadian dollars you use bitcoin, litecoin or some other cryptocurrency. Here are the other differences:
- Optimized for mobile: Since most BTC wallets are housed on a mobile phone, crypto casinos in Canada tend to be better set up to play on your phone.
- Anonymity: Like any other transaction that uses BTC or LTC, there’s no way to have your winnings traced, making your playing completely anonymous.
- Availability of Games: Some online casinos offer games other than slots, but to consistently find table games, online crypto casinos are the way to go.
These are differences, but that doesn’t necessarily mean that casinos dealing with the crypto coin are superior. Let’s examine some pros and cons when it comes to crypto casinos in Canada.
Pros and Cons of Crypto Casinos
Cryptocurrencies have their benefits, but they come with risks and things to watch out for as well. We’ll start with the dangers of crypto casinos, what to watch out for, and then move on to the more positive points.
- Holding cryptocurrency: Crypto can be incredibly volatile, and in order to gamble with it you also need to hold some of it, which can be touchy depending on the market for the coin.
- Scams: Some sites will claim to be legitimate casinos but are really just looking for a way to swindle your bitcoin away from you. Be sure to check the licenses before choosing a crypto casino in Canada.
- Security: Like every bitcoin transaction, the adding and removing of crypto to and from a casino account is completely secure. As long as you’re confident that it’s not a scam, it will be more secure than a regular online casino.
- Untaxed: Since the currencies are not considered legal tender by the Canadian government, anything you win is yours to keep.
- Instantaneous: Since you’re dealing directly with the casino and there’s no third party meddling in your data, transactions in both directions happen at the click of a button.
But perhaps we’re getting ahead of ourselves. Before we continue talking about online crypto casinos in Canada first, let’s take a look at what exactly cryptocurrency is, what kinds there are, and how you can use it.
Types of Cryptocurrency
Bitcoin and its variants, such as litecoin, are what’s called cryptocurrencies. They are created by mining a mathematical algorithm and verifying transactions in an open-source software code. This makes the whole system for creating the coin transparent and decentralized, making it completely immune to hacking or government control. This is the basis for all cryptocurrencies, but what’s the difference between bitcoin and litecoin?
Essentially litecoin is silver to bitcoin’s gold. It was created in reaction to the uptake of bitcoin and aims to allow more of the currency into the market in a shorter period of time. This means it will always be worth less than bitcoin simply because there is a greater supply of it, and this makes sense in the same way that it makes sense to have cents as well as dollars in an economy.
There are other forms of cryptocurrencies as well. Coins like Ethereum and Bitcoin Cash also use blockchain technologies for safety and transparency. The most important elements to look at when you’re choosing a cryptocurrency are how widely you can spend it and how volatile it is. There’s no point in getting some crypto if you can’t use it, and it decreases in value.
Advantages to Playing with Crypto in a Casino like Bao
Bao Casino has been an early adopter of cryptocurrencies. They allow you to use a number of variations of currencies, everything from bitcoin to Dogecoin, and the transactions are instantaneous. Already you get all the advantages of using bitcoin when playing on a crypto casino in Canada, but there’s also more.
Bao Casino goes out of its way to provide games specifically designed for gambling with crypto. This is a fun addition, and it’s rewarding to see crypto be more widely accepted. It spells a promising future for a wider range of options when it comes to playing with and spending cryptocurrencies.
The casino offers all the usual games and transaction options a regular online casino does but just adds on crypto. This gives you, the player, more options for how you want to gamble and a wider range of games when you do decide to use bitcoin or litecoin.
There’s also the added advantage of having the additional security and transparency that comes inherently with crypto. As these types of currencies become more popular, having some will be more useful in daily life, even beyond crypto casinos in Canada.
Playing at online casinos that accept crypto is fun and more and more available. They keep you safe from outside involvement and keep your data away from unnecessary third parties. As the market for crypto casinos increases, so too will your options, meaning more variety and more winnings.
It’s an exciting time to branch out and try your luck not only with some new games but with some new coins as well. Give Bao casino a shot, or try another. Let us know what you think and if you have any comments or questions!