All you need to know about the best Crypto Casinos in Canada

The latest digital revolution is the introduction of virtual money or cryptocurrency. Thankfully, the gambling world has taken advantage of the rise of cryptocurrencies. This development is not so new; crypto-based gaming has been in existence for over 10 years.

Therefore, there are many crypto betting sites on the internet. Nevertheless, people have been scammed by fake crypto casinos in the past. In this review, we have assembled some of the best virtual currency-based platforms to help you get the best value for your funds, time, and efforts.

What is a crypto casino?

A crypto casino is a betting platform that uses digital currencies like Bitcoin, Ethereum, and Dogecoin for financial transactions. The name “crypto casino” is derived from the word cryptocurrency. In this case, you use digital coins to fund the slots and games that you desire to play.

Apart from the currency factor, crypto casinos work the same way as a traditional gambling sites. Most betting platforms offer both options of fiat money and digital coins for withdrawal and deposits.

Since cryptocurrencies are out of the reach of the government or any major authority, it is easy for you to be anonymous. Digital currency gambling sites are usually known for their:

Little to zero charges on withdrawals and deposits.
Instant payouts
Maintenance of absolute security for digital coins

How we review the best crypto casinos

We usually review our crypto betting sites in the safest and best way possible. The major reason is to prevent new punters from falling into the hands of fraudulent people. Here are the facts that we usually consider while rating crypto betting sites.

Availability of the best, most stable, and most reliable digital coins

Every day, new digital coins keep appearing in the financial market. However, not all of them meet the required financial safety and stability standards. After winning a poker bout, it won’t be nice to discover that the value of your earnings has diminished to 10% of its initial value within a split second.

Therefore, we only recommend betting sites that offer popular, trusted, and steady-value digital assets like Bitcoin, Ethereum, ZCash, and Bitcoin Cash.

How the withdrawal and deposit process work

For our crypto casino reviews, we understand the importance of knowing the transaction process before recommending a betting site. Depending on your country or location, most gambling platforms have different policies on how you pay or receive virtual funds.

Let us consider an example. For a specific country, a casino might allow you to deposit and play games with Litecoin, Zcash, Bitcoin, and other digital assets. On the other hand, withdrawal might be limited to your country’s fiat currency. This kind of setup can make you incur some losses.

License from a Gaming Authority

Every betting platform must have a license from a verified gaming authority. If the site has a license, it has the legal authority to function within its jurisdiction. We don’t recommend crypto casinos that have no license because they cannot guarantee the safety of your funds and personal information.

Examples of the top gaming authorities include Malta Gaming Authority, Curacao Gaming Authority, United Kingdom (UK) Gambling Commission, and Kahnawake Gaming Commission.

Regulation by a fairness check body

We ensure that all virtual currency gaming sites have approval from a security and fairness check organization. An international agency responsible for this safety measure is eCOGRA.

If we can’t find any seal from verification by eCOGRA, we play the games more than 1000 times to ensure that a Random Number Generator (RNG) is operational in the background. If the games are fair, the results have to be random.

Other types of casinos

There are several other types of betting platforms. They include:

Pros and cons of Crypto casinos

Pros

Quick transactions: With digital currency, most deposits and withdrawals are usually instant. The time for most transactions can be as short as 15 minutes. This is due to the fact that
Privacy: With bitcoin and other digital coins, you can maintain complete anonymity with your transactions. Other payment methods cannot match this kind of advantage.
Specialized bonuses and promotions: Some digital currency casinos usually provide benefits that you cannot enjoy from a conventional gambling platform.

Cons

Scams: If a crypto casino doesn’t have a license, it is easy for it to cart away your funds without any consequences.
Fluctuations: New cryptocurrencies, especially the new ones, are usually subject to the forces of demand and supply. The value of your digital assets can go up and down with time.