The Canadian gambling market is considered one of the largest and most profitable in the world. It attracts many financiers who open their land-based casinos to local players.
Research has even shown that 35% of the Canadian population is involved in gambling. And it’s easy to assume that online gambling makes up a significant portion of the casino market in Canada. A variety of games, a fast and simple approach, privacy, security, and a variety of payment options are just some of the advantages for players provided by the leading casinos, among which Woo Casino Canada stands out. And these advantages are amplified in the case of Bitcoin casinos.
While the mainstream media was just starting to pay attention to cryptocurrency, various gambling portals were pondering how best to use its advantages. Many of those online casinos that once took the risk of building a Bitcoin business (or simply added a few cryptocurrencies as another payment method) are still running successfully.
Of course, the bitcoin rate has greatly influenced the growth of interest in virtual currencies. But even if we abstract from the charts with the price of BTC, the willingness of representatives of the gambling industry to accept bitcoins and other cryptocurrencies is very easy to explain.
Is Bitcoin Suitable For Online Casinos?
The answer is yes! Bitcoin casino platforms are based on blockchain technology, hosted on a fully secure server. This guarantees anonymous data and secure payments for players.
In addition, a cryptocurrency is decentralized. This means that no central authority regulates the system, which offers a lot of freedom.
Benefits of bitcoin casinos
Players enjoy many advantages:
- No taxes, as no single central authority regulates virtual currency transactions.
- Secure gambling. Transaction information cannot be stolen or falsified.
- Better access to casinos. The decentralized system allows virtual casino users to play from countries where gambling is restricted.
- Anonymity. Since no personal information is linked to your bitcoin wallet, you are not identifiable.
- Control of transactions. No one can confiscate your Bitcoins or freeze your account. You own your money and control all your transactions.
- Save time. No matter where you are or where you want to send your money, a cryptocurrency transfer is instant.
- Virtually no transaction fees, thanks to the absence of a middleman. Fees may apply for faster transaction processing or for converting cryptocurrency to fiat currency. But they remain very low.
How to Use Bitcoins in Online Casinos?
Using virtual currency in an online casino is incredibly simple. Before you do, however, take the time to familiarize yourself with the use of this cryptocurrency. And above all, before you choose a virtual casino, make sure you know whether it is possible to use bitcoins, but also whether it is reliable and offers a wide range of games.
When you have selected your virtual casino, go to the cashier section of your account and choose bitcoins as your deposit option. Next, open a bitcoin wallet, and enter the transfer amount into the casino wallet. Once the transaction is approved, you’ll be able to play.
And to withdraw your winnings, just follow the same procedure in reverse!