Bitcoin Casinos 2021
Bitcoin is growing fast and has seen the introduction across many online casinos in Canada. Bitcoin is the most popular cryptocurrency out there as it provides superior levels of personal privacy protection. This digital currency was born in January 2009 following the housing market crash. Bitcoin is operated by a decentralized authority, unlike government-issued currencies and that’s why it has grown to become so popular in recent years. Furthermore, the total amount of Bitcoin is capped at 21 million. We can expect more online casinos to host Bitcoin as a deposit option. In fact, we can expect Bitcoin to continue growing in value and popularity. This digital currency is currently valued at $15,000 per Bitcoin.
Bitcoin, on top of other cryptocurrencies, is legally accepted in Canadian online casinos. If you’re concerned about your data being stolen and want to make casino transactions with the highest level of anonymity, then Bitcoin is a great choice. Bitcoin is easily acquired through cryptocurrency trading platforms but storing cryptocurrency securely can be a challenge and requires some level of research. It’s also worth noting that the use of Bitcoin is not exempt from Canadian tax laws.
Making withdrawals using Bitcoin
Bitcoins can be withdrawn as cash at Canadian cryptocurrency-friendly online casinos. All you need to do is go to the cashier page and select bitcoin as your withdrawal method. Then you enter the amount you want to cash out and then enter your public wallet number. It can take up to 24 hours for the online casino to process the withdrawal on their end. It’s worth bearing in mind that the Bitcoin exchange rate may differ from the time you deposited and withdrew.
Making deposits using Bitcoin
You will first need a Bitcoin wallet before you can make a deposit. The way Bitcoin transactions work is the Bitcoin is sent from wallet to wallet. To deposit using Bitcoin you will need to go into the casino's cashier and select Bitcoin as your preferred deposit method. The casino will submit a wallet address for you to send over funds to. A wallet address consists of a number of random numbers and characters. There can also be up to five confirmations between the sender and the receiver and it's recommended you use more than one. Once the transaction is complete, it can be seen in the blockchain. Most payments through Bitcoin have no fees and if there are any fees, they are usually very low.
Bitcoin security 2021
Bitcoin has grown to astronomical popularity thanks to its incredible levels of financial security and robust technology as an online payment method. One stand-out safety measure is that your identity remains anonymous, all that is needed is your Bitcoin wallet address, which is highly encrypted. What’s more, Bitcoin is built using blockchain technology that means all Bitcoin casino transactions are confidential and cannot be traced virtually. The verification process of moving Bitcoins guarantees that your deposit cash reaches the correct account.