The most prominent kind of online casinos is those that accept various currencies through different payment options. With innovation and modernization, Canada’s online casinos are now involved with cryptocurrencies, especially Bitcoin. However, not many gamblers can grasp the concept of a Bitcoin casino.

For players to better understand Bitcoin casinos, Michelle Thomas, a tech and electronics expert, summarized a list of all things they need to know.

Overview: What is Bitcoin?

Aside from the traditional cash currencies with physical presentation and government backing, more currencies have now been added to the list over the past years. These include digital and virtual currencies.

The most popular and widely accepted one is Bitcoin. Bitcoin is a virtual currency developed in 2009 by Satoshi Nakamoto. Like any other currency, it’s also used to purchase online goods and services in many places worldwide. It’s stored in digital wallets or accounts. But unlike digital currency that’s simply bank funds in digital form, every virtual currency transaction made is recorded in the blockchain, making it public and its history accessible to prevent any form of theft.

How To Get Bitcoin?

There are only three ways you can earn Bitcoin, and they are as follows:

  •       Buying Bitcoin in the market using real money;
  •       Creating Bitcoin with a computer;
  •       Selling goods and services and accepting Bitcoin as payment.

Pros and Cons of Bitcoin for Gambling

Since it was created, there had always been positive and negative implications of using Bitcoin for gambling. These assumptions make other players hesitant about using Bitcoin. Here are the positive and negative features of this virtual currency.


  •       It’s safe for both operator and player since no third party can access the player’s data.
  •       It doesn’t require transaction fees, unlike real money.
  •       It’s legal in Canada.
  •       It’s great for instant transactions.


  •       It’s not yet legal in other countries.
  •       It’s volatile with an exchange rate that fluctuates unpredictably.
  •       Its withdrawal period may take longer than other options.

Diving Into the World of Bitcoin Casino

A Bitcoin casino or BTC casino is an online gambling site that accepts and supports Bitcoin in its payment options. Blockchain in casinos allows it to be possible and safe. Like other gambling platforms, Canadian gamblers can play casino games like online blackjack Canada, slots, poker, and even sports-betting games with Bitcoin.

How Does It Work?

As mentioned, blockchain in a casino makes it possible to use Bitcoin in its transactions the same way other currencies do.


This is a digital ledger where various cryptocurrencies transactions are publicly recorded and can’t be altered. The blockchain also acts as a crypto wallet and venue for crypto exchanges.

Crypto wallet

Also called a blockchain wallet. This is a digital wallet used to manage and keep cryptos.

In-House Wallets

BTC casinos have in-house wallets or those online casino wallets where users transfer funds to use for gambling. These in-house wallets are digital wallets provided by the casino that supports Bitcoin and other digital currencies.

Generated Keys

When new Canadian players register with a Bitcoin casino, they can transfer Bitcoin from their personal crypto wallet to these in-house wallets with their preferred amount of BTC to use for playing. Take note that every transaction uses a generated key to ensure that every transaction is secured. These are private and public keys uniquely generated for each transaction that allows Bitcoin to be locked and unlocked and facilitates sending and receiving of Bitcoin.

Playing With Bitcoin

The bets you place on every casino game will come from your in-house wallet funds. Depending on the flow of the game, you can win or lose your Bitcoin. When you lose in a game, the amount of BTC will be automatically reduced in your in-house wallet. The bet limits of these games are all in BTC as well.

Bitcoin Payout

After playing and completing a game, any gained profit is returned to the player’s in-house wallet. If any player wishes to withdraw their winnings, they can directly transfer from this wallet to their personal Bitcoin one.

Look out for withdrawal limits. If the amount of Bitcoin you want to transfer doesn’t reach the minimum or goes over the maximum, you can’t make any transactions due to the security protocols of the casino and the payment provider. Always check the terms and conditions of your casino first.

Bitcoin casinos are legal only in some parts of the world, such as Canada. However, there are certain restrictions: Canadian players can’t play from a local Bitcoin casino. This means that no online Bitcoin casino is allowed to operate from within Canada. So, as long as you’re playing international BTC casinos, it’s entirely legal, and you aren’t breaking any law.