The best casino for bitcoins

Best Bitcoin casinos

Deposit using bitcoin in a casino:

Most bitcoin casinos use the same payment system - Cubix - so the deposit method itself does not differ. Therefore, when choosing the best bitcoin casino, you need to be guided by other aspects as well. However, you don't have to spend hours talking to consultants to get valuable information and compare casinos. We've already done that, and below you will find a list of the best online Bitcoin casinos.

With bitcoin being in the news in Canada lately, online bitcoin casinos have also become increasingly popular. Over the past four years, the price of bitcoin has risen significantly. However, it took a few years before bitcoin started to be taken seriously and gained the status of a recognized currency. In Canada, bitcoin still has a vague legal definition. It is defined as a sign of legitimacy, just like a public transport ticket, a pass, a coat check, a payment voucher. For this reason, it is not subject to VAT or civil transaction tax. However, we must remember that bitcoin does not really have a physical value, and we must always protect ourselves. Bitcoin is good to operate on, but for this reason we should not keep all of our funds in the form of cryptocurrency. According to some economists, bitcoin will simply collapse one day, while others believe that cryptocurrency is the future. However, it will likely operate on a slightly different basis than before.

What is bitcoin?

Bitcoin was created in 2009 and has been on the market for almost ten years. During this time, the currency has had its ups and downs. The creation of bitcoin is shrouded in mystery, as we only know the pseudonym of its creator, Satoshi Makamoto. His identity remained unknown for a long time, but in 2015 a journalistic investigation revealed that Craig Steven Wright, an Australian businessman and computer scientist, was behind the pseudonym. Wright admitted to creating bitcoin, but the bitcoin community considers him a fraud.

How does bitcoin work?

Bitcoin is a so-called third-generation payment instrument. It solves the problems encountered with cash (ease of theft and counterfeiting of funds) as well as online transactions (dependence on banks). In the case of Generation II payments, it involves paying fees, sharing information about our funds and income, and allowing financial institutions to exercise social control. Bitcoin is a means of payment that allows us to go beyond this closed system.

Bitcoins can be sent anywhere in the world without paying additional fees or mediation by other institutions. We do not trust our data or funds to third parties who can control or manipulate them. Bitcoin is currently impossible to counterfeit.

This cryptocurrency works according to a strictly defined system, everything is done openly and legally. To register an account and use Bitcoin, it is enough to specify an email address, no personal information is required. Thus, it is both anonymous and very secure means of payment.

We have already mentioned that all transactions in the Bitcoin network are public. Every transaction (deposit, payment) is recorded in the so-called Bitcoin transaction ledger, to which every user of the network has access. The transaction ledger cannot be changed, so it cannot be modified. As a user of the Bitcoin network, you also have access to the transaction ledger. It is no longer stored or edited by an external institution such as a bank. Thus, the Bitcoin system dramatically reduces the likelihood of financial fraud. Each user of the system also has an individual key that allows him or her to work, as well as check the bitcoin balance in the account. This ledger, in fact millions of copies of it, is what is known as blockchain (a word you may have heard). Each ledger (blockchain) records a transaction, and with a private key, we can authorize it. This way another user of the network has no way to assign our bitcoins or send them to another user's account.

Satoshi sought to create a network governed by democratic laws. It is independent and not subject to any financial institutions that can control and have knowledge of our transactions. Thus, bitcoin is an independent currency that is completely public and allows freedom from a system controlled by banks.

How do I make a deposit at Bitoins Casino?

Making a deposit is based on having a Cubits account, which allows you to instantly buy or sell Bitcoins for euros. BTC Transfer works in a similar way, where funds are taken from your bank account and then exchanged into Bitcoins. All casinos on Bitconym have an integrated system that allows you to make deposits very quickly. What do you need to do?

All you have to do is go to the deposit tab of the online casino, and you then select the box with the Bitcoin logo. You will soon be redirected to the intermediary's website, which will allow you to instantly purchase bitcoins and deposit them in the casino. In a few moments after that, you will be able to enjoy playing in the casino with the bitcoins deposited.

Is it worth playing a casino with bitcoins?

If you have a wallet with bitcoins in it, they will be converted to one of the standard currencies. In the case of Canadian casinos, this is usually the currency EUR or USD. Of course, many players still do not trust cryptocurrency and choose the standard deposit. Below you will find information on what are the pros and cons of depositing in casinos using bitcoin.

• + Privacy. For both the player and the casino. Bitcoin operates on the principle of a system in which each user has an individual key for their transactions and account. All you have to do to register an account and get a key is to provide an email address. There is no need to share your personal information. No third parties have access to your account financial information, balance, etc. There is also no possibility of chargebacks (refunds), which sometimes happens with credit cards controlled by banks.
• + The situation in Canada is quite troublesome for the player when it comes to deposits. Many payment methods have disappeared from online casinos, some of them, although still listed as deposits, do not work in practice. Thus, Transfer 24 or e-wallets have disappeared from casinos. For this reason, more and more players are looking for aletrnative payment methods. One of them is Bitcoin, so more and more casinos prefer to integrate with this system.
• + Payments to casinos using Bitcoin are made instantly. Deposits will be credited to your casino account within seconds of ordering payment, withdrawals of winnings will arrive in your account moments after they are accepted by the casino's payments department.
• + Finally, the use of Bitcoin is completely anonymous. Bitcoin is not officially recognized as a currency in the Posles, so it is not taxed. In addition, there is no additional charge for using Bitcoin. Thus, it seems that Bitcoin is directly destined for casino deposits!