Bitcoin Casinos 2021

A group of cyberpunks had been tinkering with the concept of a cryptocurrency for a few years, with Hal Finney to have created the first proof of work system back in 2004. However, the origin of Bitcoin is largely traced to August 2008, when the domain name, Bitcoin.org was registered.

A couple of months later, the blueprint for this legendary, peer to peer currency emerged, under the authorship of Satoshi Nakomoto. In 2009, Bitcoin was released as open source software. Finney downloaded the software and received 10 Bitcoins from Nakomoto. To this day, it is unclear who Satoshi Nakomoto is, but rumours suggest it might even be a group of people.

Fun Fact: The first commercial transaction Bitcoin was ever used in was to purchase pizza. Just after a year Bitcoin was launched, Laszlo Hanyecz bought two pizzas with 10,000 BTC on May 22, 2010. Obviously, Bitcoin wasn’t a big deal back then and no one was taking it seriously, but with today’s exchange rates, those two pizzas cost $360,000,000. This day is now fondly known as Bitcoin Pizza Day. Hanyecz says he has no regrets for his purchase, but we would be reeling from indigestion now!

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BTC is the most popular coin and many gamblers are switching over to BTC from their traditional currencies like the Canadian dollar, USD and Euros. The draws include:

• BTC casinos have much higher limits, and sometimes none at all
• Bitcoin deposits often qualify for a welcome bonus or other offers
• More established casinos are accepting BTC for banking
• Bitcoin is now considered a trustworthy cryptocurrency

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Best Bitcoin Casinos 2021

We’ve tested these casinos and found they perform excellently across all parameters. In addition to BTC, they also accept payment in Canadian dollars so you can switch between crypto and regular cash payments for banking as needed.

What is Bitcoin?

Bitcoin is a digital currency, and it does not physically exist. It has a ledger on a blockchain that records all the transactions made in BTC so that everything that happens is transparent. It is also a peer to peer network, meaning that it is decentralised. No one controls it. That means it’s not run by the government and does not operate through the existing banking system.

As Bitcoins are not physical and are not part of the conventional banking system, you can’t store it in your regular bank account. To hold BTC or any other cryptocurrency for that matter, you will need to have a crypto-wallet. The most popular ones are:

• Coinbase
• Binance

Bitcoin Units

Since it was first launched, BTC has gained significant value. 1 BTC is worth well over $42,000 CAD today, and different units have come up to make smaller transactions easier. These units go as follows:

• 1 millibitcoin (mBTC) = 1/1,000 of a Bitcoin
• 1 microbitcoin (μBTC) = 1/ 1,000,000 of a Bitcoin
• 1 Satoshi = 1/ 100,000,000 of a Bitcoin.

Bitcoin & Online Gambling

As more people now hold Bitcoin and other cryptocurrencies, more and more establishments have started accepting them for payments.

However, be very careful about which casino you choose if you want to play with Bitcoin. Because Bitcoin isn’t a proper currency like the Canadian dollar, the US dollar or the Euro, it isn’t subject to the same regulations. That means there are quite a few Bitcoin casino scams out there. If you do want to use your crypto at a casino, don’t let the fly by nights take your money.

Make sure you choose a reputable Bitcoin Casino. We’ve listed some of the best Bitcoin casinos below to help you get started. Beyond banking with crypto, these casinos offer the full gamut of first class service and games that players expect.

How to Use Bitcoin at a Casino

Generally speaking, there are two ways to bank with Bitcoin or other popular crypto currencies like LiteCoin and Ethereum at online casinos. Some casinos will have a workaround with an e-wallet, like Skrill or Neteller, through which you will make your payments in crypto instead of the usual Canadian dollar.

Meanwhile there are other casinos and gaming sites that let you bank directly through your crypto-wallet like Coinbase. The casino’s cashier will provide you with the address where you can send your money. Afterwards, some casinos may convert your crypto to dollars, while others will keep it as a Bitcoin balance in your account.

To withdraw your winnings, go to your blockchain wallet and request a payment. This will generate a new address that you can give the casino to which they can send you your funds. It is recommended to generate a new address each time to ensure maximum security.

Do note that some casinos will payout in dollars instead of the cryptocurrency you deposited with.

What are the pros and cons to Bitcoin Casinos?

While Bitcoin – and cryptocurrencies in general – are famous for the anonymity they provide, you won’t necessarily benefit from that fully at an online casino. At least if you do the smart thing and stick with a licensed casino. Licensed casinos are legally required to verify your identity to prevent money laundering and fraud, so it’s for everyone’s good.

So, other than the sexiness of it all, why else would you want to use your Bitcoin at an online casino? Well, for one it’s fast, as with any e-wallet. Since it’s not a bank transfer, there is no extra processing time or bank fees.

Payments with cryptocurrencies like Bitcoin are fast and anonymous.MoreLess

Provably Fair Games at Bitcoin Casinos

Provably fair games at crypto casinos are based on a hashing technique called SHA256. The technique was developed by the US National Security Agency, or the NSA for short.

The technique automatically converts every bit of digital information into a unique data string, also known as a hash. If you were to change just one character in the string, it would result in a new value and you won’t be able to access the original data string. The games use this hashing technique to demonstrate its fairness.

How Provably Fair Games Work, with Blackjack as an Example

1. The Provably Fair technology is designed into the game at BTC Casino, with hashing taking place in the background during the shuffling process.
2. Seeds and hashes are generated, creating data randomly. The hash value is then transmitted to the player.
3. The cards are dealt and you play the Blackjack game just as usual.
4. After the game is over, you can verify the hash value to make sure the games was fair. To do this, you can go to a third party verifier such as quickhash.com where you can enter the SHA256 hash you received and enter it there. You will then be able to see if the data was correct and if the round you played was manipulated or not.

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In short, Provably Fair games give players the means to directly verify a game through the hash value. In BTC casinos and other crypto casinos that offer these games, you will see a special button for this feature that you can activate to check the game’s fairness for yourself.

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Some of the live casino options at Stake CasinoMoreLess

What’s in the future for Bitcoin?

Bitcoin is really the granddaddy of cryptocurrencies, and it’s the crypto that everyone wants to hold. It’s seen a lot of ups and downs in the last few years, but it’s mostly been ups.

When Elon Musk tweeted back in March that you can now buy a Tesla with Bitcoin, the price of BTC shot up. While it did fall back down when Musk said there are environmental concerns to the crypto, the use of green energy in BTC mining should mitigate these concerns. With Tesla having bought $1.5 billion worth of BTC and with no intention of selling it, the future of Bitcoin seems secured.

There has been nerve wracking volatility – and probably there will be more of that to come – but that’s part of the adventure of cryptocurrency development. Investors are loving the ride, and for casino players who have BTC in hand, this coin looks like it’s going to be a payment method that’s here to stay.

Bitcoin Casino FAQ

1. Is Bitcoin Real Money?
2. Do Casinos Accept Bitcoin Transactions?
3. Is Bitcoin Gambling Legal in Canada?
4. Are there fees involved with Bitcoin Casinos?
5. Is there a Bitcoin Bonus at Online Casinos?
6. Are Bitcoin Casinos Safe?

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1.) Is Bitcoin Real Money?

To be clear, although Bitcoin has entered the mainstream, it’s fundamentally not like the Canadian dollar, the US dollar or other currencies issued by the government. It’s more like an asset, whose value can go up and down depending on how much it’s being traded for on the markets. However, for the purposes of gambling at online casinos and for many other transactions, it is treated like real money.

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2.) Do Casinos Accept Bitcoin Transactions?

Yes, although the exact method may vary. Some casinos accept Bitcoin through Skrill or Neteller, while others will let you conduct the transactions directly through your crypto wallet, like Coinbase.

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3.) Is Bitcoin Gambling Legal in Canada?

Yes, however you do need to make sure you choose a licensed online casino if you want to gamble with Bitcoin or any other cryptocurrency. The casinos listed on this page, and in fact all the casinos throughout the Casino.Guide site, have gambling licences. Canadian players can gamble legally at all of these sites.

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4.) Are there fees involved with Bitcoin Casinos?

Casinos do not charge extra fees for using Bitcoin – in fact, most of the casinos listed on our site do not charge fees for deposits and withdrawals. However, your payment method or cryptowallet may charge a fee, especially if it is converting your crypto to the dollar.

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5.) Is there a Bitcoin Bonus at Online Casinos?

You can claim all the usual welcome bonuses and promotions when using Bitcoin to make deposits at online casinos as long as you meet the requirements, like the minimum deposit amounts.

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6.) Are Bitcoin Casinos Safe?

You really do have to be careful when it comes to choosing a Bitcoin casino. Because Bitcoin and other cryptocurrencies don’t have the same legal status as money, some Bitcoin Casinos have opened without gaming licences. That means they are not subject to the same strict standards for fairness, and players aren’t protected by law.

It is absolutely critical that you choose a licensed Bitcoin casino. As a general rule of thumb, our recommendation is to go with a regular casino that has already established a good reputation among players and now accepts Bitcoin. These tend to be safer than going with a specialised Bitcoin gaming site.

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