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Why Crypto Casinos Are Becoming More Popular In Canada

Written by: Coinpedia

July 22, 2022

Since the inception of cryptocurrencies, they have continued to grow in popularity each day. Today, you can use cryptocurrency to make online transactions in many industries, including online gambling. As soon as the casino industry began accepting cryptocurrencies, crypto gambling sites started cropping up. Now, players can easily use cryptocurrency as their payment method.

Since gambling was legalized in Canada, many players are heading online to play their favorite casino games at gambling platforms.  They are also currently searching for crypto casinos due to the many benefits that these casinos offer them. Currently, Bitcoin is the most widely used crypto at top crypto gambling Canada casinos. However, players can also use other coins such as Shiba Inu and Ethereum. Here are some of the reasons why crypto casinos are becoming more popular in Canada.

The Inception of Crypto Casinos

Although the use of cryptocurrency is still an emerging trend, many casinos are embracing its use as a payment option. Crypto casinos continue to emerge in each country, and Canada has not been left behind. Canada leads when it comes to Bitcoin casinos. Canadian players have several crypto gambling sites to choose from, and many online casino players prefer using Bitcoin at online casinos due to its many benefits.

As Bitcoin gaming continues to become popular in Canada, other casinos that accept cryptocurrency are striving to catch up with the trend. Canadians love playing online casino games, and so, anything that promises to make their gaming experience more appealing, like the ability to use cryptocurrency is warmly received.

Security and Privacy

Security and privacy are some of the most important factors when it comes to online gambling. You want to be assured that your sensitive financial and personal information doesn’t fall into the wrong hands. With cryptocurrency, you are assured of safe transactions since cryptos use blockchain, a cutting-edge technology.

To ensure the security of each transaction, blockchain needs specific complex steps in the process and advanced security measures. This is opposed to traditional fiat currency that is offered y credit cards. With credit cards, you risk situations such as cyber-attacks, which makes many casino players apprehensive about losing their hard-earned money.

Cryptocurrency’s security and safety are among the many reasons why Canadian players prefer it as a payment method. It ensures that their financial transactions are always protected as much as possible.

Fast Transactions

Another reason why crypto casinos are gaining popularity in Canada is that they offer fast transactions. Both deposits and withdrawals are incredibly fast due to how the distributed technology works. Unlike traditional banks, cryptocurrencies don’t have an intermediary party that needs to approve transactions before they arrive in the recipient’s account. 

That means that players can enjoy having their deposits and withdrawals processed in under an hour. Canadians are now getting used to not having to wait for long periods to have their winnings deposited in their accounts. It is also contributing to the growing popularity of crypto online casinos.

Players Are Kept Anonymous

Some Canadians are yet to embrace online gambling despite the immense growth of online casinos. Therefore, some players end up facing partial neglect and stigma from their family and friends. Also, players face stigma from financial organizations. Banks are known to go to great lengths to protect the fiat currency. In some instances, players who use fiat currency can get labeled wasteful by banks.

Many banks have terms and conditions that restrict gamblers from qualifying for loans and bonuses. Since most players used fiat currencies at online gambling platforms, it was easy for banks to pick them out. However, with cryptocurrency casinos, things are different. Crypto casinos process transactions differently since they don’t involve fiat financial industries. That means that all financial transactions at crypto gambling sites are kept anonymous. Players can enjoy indulging in their popular casino games without worrying about being judged since their transactions remain anonymous.

Bonuses and Promotions

One way online casinos attract and keep their players hooked is offering them bonuses and promotions. Casinos are in constant competition to offer the best services to their players, which includes better and bigger bonuses and promotions. Any reputable crypto casino Canada is no different. 

Crypto casinos go above and beyond when it comes to offering players bonuses and promotions. They provide their players with custom privileges and special promotions, including LTC rewards and BTC bonuses. You can also expect welcome bonuses at crypto casinos. The good news is that bonuses are not only for new players since crypto casinos also offer rewards to existing players. Some even have VIP programs for loyal players. However, always remember to read the terms and conditions of each casino bonus before redeeming it.

Elon Musk Factor

While elon musk was not born in Canada, his mother is Canadian and this has contributed largely to the popularity of crypto casinos. Whenever Elon speaks, Canadians listen. After all, he is among the wealthiest men worldwide, which means that whatever he has to say is educational. Musk is considered a more outspoken person when it comes to cryptocurrency.

His speech in most TV shows or tweets must include a few lines that end up sending cryptocurrency prices off the roof. He understands the long-term effect of cryptocurrency and he is not afraid to say it as it is. Musk mostly speaks about Ethereum and Bitcoin, two cryptocurrencies that dominate crypto casinos in Canada. Apart from using Bitcoin to fund online casino accounts, players also hold it as they watch its value rise and use it as any other currency online.

Conclusion

The cryptocurrency casinos’ bubble is not popping at any time. If anything, more casinos will start accepting various cryptocurrencies since players are looking for convenience, fast transactions, security, and anonymity when playing online. These are all things that cryptocurrencies offer them. In the last few years, crypto casinos have increased with over a 70% increase in revenue. The Canadian crypto gambling business has continued to grow and has since become among the most powerful worldwide.

If you are yet to try out a crypto casino, you are missing out on numerous benefits. Try one today and enjoy all the perks these casinos have to offer players.

Coinpedia

Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: info@coinpedia.org

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