What is cryptocurrency and how does it work?

Cryptocurrency is a digital-only currency used for online transactions, whether depositing funds into a crypto casino or buying goods. Most users buy crypto from one or more sites, though they may also receive them as payment from another user. Many types of cryptocurrency are available, including Bitcoin, Ethereum, and Binance Coin to name just a few of the biggest.

Why do online casinos use cryptocurrency?

Online casinos accept cryptocurrency as payment for a number of reasons. One of the most important is the increased security, though privacy and lower transaction fees are vital to crypto adoption, too. As cryptocurrency is decentralised, it’s also less likely to be targeted by hackers or fraudsters than other, more established payment systems.

What are the disadvantages of cryptocurrency casinos?

The lack of regulation or oversight by governments and financial institutions is a major disadvantage of playing at a crypto casino. Players will have no official body to turn to if they find themselves experiencing issues with their payments, and crypto transactions are untraceable and irreversible. There are also some unlicensed casinos out there accepting crypto as a payment method, so players need to be careful.

What are the risks of cryptocurrency gambling?

One of the main cryptocurrency gambling risks to consider is the volatility. Crypto values can rise or fall significantly in line with fluctuating market activity. Users should stay up to date with changes in value. Additionally, players must only wager at licensed, reputable casinos accepting cryptocurrencies, rather than using unlicensed sites.

Can I fund my online casino account with cryptocurrency?

Yes, you can use cryptocurrency to fund your online casino account! There are dozens of crypto casinos to choose from now, each with a unique portfolio of games to play, such as slots and table games. Diverse bonuses are available at crypto casinos, too.

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Best Casinos that use Cryptocurrency Payments

Cryptocurrency is increasingly recognised and accepted as a form of payment across various industries, including online gambling. Users can choose from a growing range of crypto gambling sites, and the best crypto casinos accept payments from multiple networks. However, if you are new to the concept of cryptocurrencies, it is best that you do your research before you invest and start wagering at a cryptocurrency casino. The value of a cryptocurrency, even the most popular options, can change quickly and unexpectedly.

Cryptocurrency offers a number of intriguing benefits that have helped drive adoption. In this guide to the best casinos for paying with cryptocurrency, we will explore these benefits, how to make deposits and withdrawals, and more. Which crypto casino in Canada should you try? We have picked the best crypto casinos for Canadian players below to help you find the right site for you.

Note: If based in Ontario, any content mentioning bonuses, promotions, wagering or free spins is not intended for you, following Ontario regulations. If located in that province, please go to our Ontario page.

At the moment, we cannot recommend any casino sites that offer cryptocurrency as a payment method. However, you can sign up to one of our trusted online casinos below.

Editor's Choice

Spin Genie

9.3 / 10

Get 108 Free Spins
on Thor

CLAIM OFFER

18+, automatically credited upon deposit. Cancellation can be requested. First Deposit Only. Min. deposit: $10. Game: Thor, Spin Value: $0.1. WR 60x free spin winnings amount (only Slots count) within 30 days. Max bet is 10% (min $0.10) of the free spin winnings amount or $5 (lowest amount applies). Spins must be used before using deposited funds. Welcome Bonus can only be claimed once every 72 hours across all Casinos. Bonus Policy applies. This offer is not available for players residing in Ontario.

Mega Casino

8.9 / 10

Get a 100% Bonus
Up to $100

CLAIM OFFER

Lord Ping

8.7 / 10

Get up to $100 Bonus
for all New Players

CLAIM OFFER

18+, Automatically credited upon deposit. Cancellation can be requested. First Deposit Only. Min. deposit: $10, max. Bonus $100. WR of 60x Bonus amount (Slots count 100% and any other game 10%) within 30 days. Max bet is 10% (min $0.10) of the Bonus amount or $5 (lowest amount applies). Bonus must be claimed before using deposited funds. Welcome Bonus can only be claimed once every 72 hours across all Casinos. Bonus Policy applies. This offer is not available for players residing in Ontario.

Gambling Zone Recommended

PlayOJO

9.0 / 10

Get 80 Free Spins
No Wagering

CLAIM OFFER

18+, First Deposit Only. Min. deposit: $10. Game: Big Bass Bonanza, Spin Value: $0.10. This offer cannot be used in conjunction with any other offer. This offer is only available for specific players that have been selected by PlayOJO. If you have arrived on this page not via the designated offer of PlayOJO you will not be eligible for the offer. OJO’s Rewards and Game Play policy applies. This offer is not available for players residing in Ontario.

Swift Casino

8.7 / 10

Enjoy 100% up to $100
+ 50 Free Spins

CLAIM OFFER

18+. Automatically credited upon deposit. Cancellation can be requested. First Deposit Only. Min. deposit: $10. Game: Rich Wilde and the Book of Dead, Spin Value: $0.10, Max Free Spins: 100. WR 60x free spin winnings amount (only Slots count) within 30 days. Max bet is 10% (min $0.10) of the free spin winnings amount or $5 (lowest amount applies). Spins must be used and/or Bonus must be claimed before using deposited funds. Deposit/Welcome Bonus can only be claimed once every 72 hours across all Casinos. Bonus Policy applies. Bonus Policy applies. This offer is not available for players residing in Ontario.

All Casinos

About Cryptocurrency

Cryptocurrency first appeared in January 2009, when one or more programmers known as Satoshi Nakamoto introduced Bitcoin. The real identity (or identities) of Bitcoin’s creator(s) have never been revealed.

Bitcoin was a revolutionary concept at the time, and inspired a huge number of other cryptocurrencies such as Ethereum and Tether. While crypto is a digital system for transferring money, it’s decentralised — there are no banks or other financial institutions involved. It’s a fully peer-to-peer payment method that anyone can use, provided that they hold one or more types of cryptocurrency and a digital wallet for storage.

Cryptocurrency has no physical form, unlike fiat money: it is digital only. A user transfers crypto coins to others, and these transactions become part of a public ledger. It offers anonymity and security without some of the restrictions traditionally associated with banks.

There is a wide range of casinos that accept cryptocurrency as payment, and players may be attracted to them for several reasons. Not only are privacy and security great motivators, but players can also make faster transactions with lower charges and no need to account for currency conversions.

Pros and Cons of Cryptocurrency as a Casino Payment Method

Using cryptocurrency to deposit and withdraw funds from a crypto casino in Canada offers various benefits. However, as with all payment methods, cryptocurrency has its fair share of drawbacks, too. Here are the main pros and cons of making payments at casinos that accept cryptocurrency.

Provides anonymity for increased privacy.

Highly volatile, which can affect coin value drastically.

Cutting-edge security for peace of mind

No official government regulation.

Lower fees than other payment methods (e.g. bank transfers).

Transactions cannot be reversed or cancelled.

Fast (possibly instant) transactions.

No geographical limitations.

How to Make a Deposit Using Cryptocurrency

If you are new to cryptocurrency, you may find depositing funds into your account a tad confusing the first time you visit a crypt casino. The process is more complicated than simply entering your debit card details or completing a bank transfer. However, it should become second nature in no time.

Here are the main steps to follow when making a deposit at crypto casinos.

Set up your cryptocurrency wallet to get started. You need a digital wallet for storing your crypto coins after purchase. You can use your wallet for selling and trading coins, too.

Put any amount of money that you’re willing to wager into your crypto wallet (only if it’s currently empty). Simply use fiat money (CAD): the wallet will convert this into your chosen cryptocurrency, ready to transfer.

Depositing your cryptocurrency into your casino account is simple. Just navigate to the Cashier/Banking section, choose the right crypto for you, then enter the amount you want to deposit.

Take a look at the balance in your crypto casino account. Your deposit should be processed immediately and ready for you to start wagering.

How to Withdraw Using Cryptocurrency

If you have accumulated winnings from slots, table games, or any other games at your favourite crypto casino, you’ll be ready to withdraw them. Is this any harder with cryptocurrency than with fiat money? Fortunately, no! You can withdraw crypto fairly quickly and easily.

Follow these steps to withdraw your cryptocurrency.

Navigate to the Cashier/Banking section of the casino.

Click on the “withdrawal” or “withdraw” option.

Choose the cryptocurrency you want to take out of your account.

Enter the number you want to withdraw and your crypto wallet address.

Confirm that the account and address are correct.

Check that the right amount has reached your digital wallet once the transaction is complete.