Bitcoin is hitting new all-time highs, so it’s no surprise that crypto is back in the mainstream. Although many other industries are still trying to find a way to incorporate crypto, gaming has been integrating it seamlessly for years.
If you’re looking to step into the future of gambling, you might want to try using cryptocurrencies for deposits and withdrawals at some of the mobile crypto casinos in Canada. Here’s a look at why we recommend it.
Crypto Gambling on the Go: Introduction to Mobile Crypto Casinos
There are some casinos in Canada that are still a little more old school and don’t allow you to deposit or play with crypto. However, the new wave (it’s not even that new, maybe at least five or six years old) is to allow players to use crypto – and reward them for doing it. If you look across the board, most online casinos will give you a bigger welcome offer if you deposit with crypto (instead of traditional banking methods).
While it might seem a little confusing at first, crypto is actually pretty easy to use. And once you get the hang of it, you’ll see its power and understand why many feel it will go mainstream.
Some mobile crypto casinos will allow you to actually play in cryptocurrencies like Bitcoin and Ethereum. However, what we mostly recommend is to use crypto to make your deposits and withdrawals, but play in regular Canadian currency. Nonetheless, that’s the rundown for mobile crypto casinos. Now let’s look at some of the pros and cons.
Benefits of Crypto for Mobile Gaming
The main reason to use cryptocurrency at mobile casinos is for deposits and withdrawals. The traditional banking system has its strengths, but when it comes to online casinos, a lot of their weaknesses show.
For example, if you’re a high-roller and you want to make a large deposit, you might have to use a bank wire. That could involve filling out papers or all sorts of details like a IBAN number and a beneficiary. Then it might take days to reach its destination.
Then there are fees with wires or various other methods where you might have to spend $10 to $100 just to execute the transaction. With cryptocurrencies, it’s a much easier transaction process.
To start, crypto transactions are generally pretty fast. It might take an hour (and that’s on the longer side) to send something like Bitcoin or Ethereum. However, if you’re using something Litecoin, the transactions can take a couple of minutes. Even the Bitcoin and Ethereum casinos that solely accept those could be that fast too.
Secondly, the transactions are pretty easy. You need to have an address, which you’ll copy from the site and paste at your exchange. Just double-check it and hit send.
Lastly, the fees are miniscule. In most cases, it’s just a couple of bucks, but many cryptocurrencies will cost you pennies on the dollar in terms of fees.
Why play in traditional FIAT currency versus crypto?
Some sites will allow you to play in crypto, but we don’t recommend it. The reason is that it becomes hard to keep track of your bankroll. For example, if you deposit $100 and you play five spins of $1, you know you’re at $95.
However, if you deposit $100 worth of Bitcoin, which is 0.001 Bitcoin as of this writing, and then you make five spins of 0.0001, where are you at? What if the price of Bitcoin goes from $85,000 to $95,000 (or reverse) in the few days you’ve deposited and played? It gets confusing.
Editor’s tip:
Join the Future of Mobile Gaming with Crypto
Depositing and withdrawing with crypto is probably going to continue to go mainstream in the coming years. Right now, there is a bit of a learning curve, as you have to open up an exchange account, acquire some tokens, then figure out how to send them.
It’s not hard, but if you’re not used to it, it’ll be a bit foreign. In the future, you’ll probably have crypto integration with traditional banks and various other platforms, so it will be much easier to send.
In terms of what we’ll see from crypto at the casinos, we’ve already seen some decentralized casinos (in Decentraland), and we could see more opportunities to play in crypto funds. For now, that’s far away, because the first step will be to get mass adoption for crypto. Once everyone has access to it like they do a bank card, then we’ll see the online casinos innovate to take advantage of more features that the blockchain offers.
We might see something like a Bitcoin casino in Canada specifically for depositing and playing in that one token. We might see some innovation with VR, or we might see another push for the metaverses.
For now, we recommend using crypto for deposits and withdrawals at the best crypto casino shops in Canada. It’s the fastest way to get your money in and out, the welcome bonuses for crypto are higher than traditional currency (for the most part), and there are fewer headaches versus bank wires and transfers.
