The online betting industry has different features and benefits, which is why many players in Canada now utilize them. Depending on the bookmaker, you can easily make deposits and withdrawals with fantastic bonuses and package offers.
BTC is one of the most popular deposit methods for crypto betting sites. However, crypto betting sites have gained more followers in the industry than their conventional counterparts. Unfortunately, due to the availability of many banking options, many do not see a need for BTC. Consequently, this guide will explain all the top features and benefits of Bitcoin Betting sites in Canada.
What Are Bitcoins?
Bitcoin is a cryptocurrency, a digital or virtual currency. This type of money is entirely virtual; it does not come in physical form. Traders now use Bitcoin for buying products online, but many shops don’t accept crypto.
Features And Benefits Of Bitcoin Betting Sites
Bitcoin betting sites have taken over the gambling industry since its introduction. The dominance of cryptocurrency betting sites is significant because of the features and benefits players enjoy. Below are some of the benefits to enjoy on crypto betting sites.
No Involvement Of Third Party
The main issue with fiat currency betting sites is the involvement of third parties. First, the bank will serve as a middleman if you use their card for transactions. Banks may turn down your sportsbook deposit if they want to. Finally, banks usually follow their jurisdiction and the law; if necessary, a financial firm can block your deposit for some reason.
So, what if you are in a country where online sports betting is not illegal, but the banks still reject your deposits? Then, if you can find a legit banking option, you will be able to make deposits on sports books without breaking any law.
Bitcoin payment becomes a valuable option; in this case, you can fund your sportsbook without fearing rejection. In addition, no government or bank controls crypto. Instead, BTC is a P2P network that involves only the person making the payment and the recipient.
The miners who process every transaction by computer problem-solving cannot see the reason behind your payment. With this feature, the sportsbook may reject your transaction.
More Online Sportsbook Accessibility
Most mobile sportsbooks in unregulated markets have started turning to crypto betting sites because they love the peer-to-peer idea. Therefore, you will be able to find many crypto betting sites. In addition, you will discover many sportsbook options if you know how to use BTC.
Some countries have strict banking laws that make it difficult for bettors to make a betting deposit. For example, if you live In the US, you will find it difficult to place a real money gamble. But, again, Bitcoin has no business with banks or any third party. So, you don’t have to worry about any strict law guiding BTC.
Low Payouts Fees
Some bank transactions have high fees that can affect your bankroll. For example, if you withdraw money using Neteller, you must pay 3% of the total funds to the e-wallet. The worst are wire services because they take $35 for every withdrawal.
Although Bitcoin transactions are not free, you need to pay a small fee to the miner that processes your transaction. During a Bitcoin transaction, you will pay 1% or less of the money you are moving. For example, if the transaction is about $3000, you would like to pay $3 or less as a processing fee.
Fast Withdrawal
The cash-out speed of every bank differs from one platform to another. For example, when the money hits your account within 24 hours, you use an E-wallet for withdrawals. On the other hand, bank transfers may take up to seven working days to hit your account.
Using crypto betting sites will make it possible to receive withdrawals within a short time frame. Bitcoin cashout is faster than any regular bank you know. By using crypto betting sites, you will receive your payout within hours or, at most, one day.
Special Bonuses
Fiat currency betting sites usually cover deposit transaction feed. So, for instance, they may protect a 3% visa charge if you use a credit card.
Therefore crypto betting sites will benefit from Bitcoin’s lower transaction fees. As a result, it’s advisable to use Bitcoin betting sites that come with special bonuses. For example, crypto betting sites offer special deposit bonuses for old and new members. For instance, they may offer a 100% match bonus for any transaction you make.
If you are using crypto betting sites for gambling, you should always check the promotion section of the platform. You will likely find numerous Bitcoin bonuses available in that section.
The Level Of Anonymity Is High
Most gamers don’t want their betting transactions displayed online, especially their e-wallet and credit card account statements. Unfortunately, this information may find its way to the banks and reduce your chances of getting a bank loan.
Bitcoin betting sites offer a higher level of anonymity than traditional gambling platforms. The only thing used to identify you is your wallet address when using Bitcoin. Therefore, nobody will know when you withdraw or make a deposit on any crypto betting sites. Instead, some individuals check anonymous addresses to see the active movement of Bitcoin.
Bitcoin Price Could Automatically Go Up
The government does not see BTC as a legal tender; instead, many BTC owners expect the price to increase because of the volatility. So far, early investors who bought Bitcoin and held it are wealthy. When the creator introduced Bitcoin in 2009, it was worth a penny. Now, Bitcoin is worth thousands of US dollars per coin.
It Is Easier To Make A Deposit
Some online gamblers avoid Bitcoin betting sites because they don’t want to learn a new process. However, they are ok with the payment system they know, like bank transfers, e-wallets, and credit cards.
However, using Bitcoin is more straightforward than using an e-wallet once you are familiar with the steps. This benefit is very true if you want to look at how easy exchanges like Gemini and coinbase make the process.
Get Additional Bonuses On Some Crypto Exchanges
Earlier, we explained how you could get special bonuses on Bitcoin betting sites. But there are ways of crashing out through bonuses offered by exchanges.
Some crypto exchanges offer signup bonuses to new members. For instance, as a new member, you may receive $5 to $10 in BTC. Some of these exchanges also have a loyalty program where rewards are earned based on trading volume.
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