Is Bitcoin same as PayPal and can it be used as PayPal alternative at Canadian online casinos?

PayPal and Bitcoins

Since the inception of Bitcoins as deposit mode at online casinos many players ask this question when finding an alternative for PayPal at Canadian online casinos. The answer to this question is very straightforward. Yes Bitcoin the digital cryptocurrency is the best alternative for PayPal at Canadian online casinos.  Used to send and receive payments online, Bitcoin is similar to payment networks like PayPal or Mastercard, the difference being that it runs on a decentralized network — blockchain — that’s beyond the control of central banks and regulators.

Bitcoin online casinos for Canadians

In 2018 there are two best Bitcoin based casinos for Canadian players: Bitcasino and Bitstarz These two casinos are regulated, licensed offering variety of slot games and sports books to enjoy.

Bitcasino

Bitcasino for Canadians

Bitcasino is the famous and popular Bitcoin casino offering you to play your favourite games. This casino was launched in 2013 and is Curacao-based licensed online casino that is duly regulated by the government of Curacao.  As the name suggests you can easily deposit, play and withdraw money with Bitcoins and it is the only currency accepted in this casino. You can play bitcoin slots, table games and other casino games with awesome bonuses and offers offered by Bitcasino.

Games offered by Bitcasino

Over 600 games to enjoy at the casino, Bitcasino has wonderful games mostly powered by CoinGaming, a well-known provider and other software providers like  Microgaming, One Touch, Evolution, Quick fire, NetEnt, Pragmatic, Game art, Explosive, Ezugi, Isoftbet, Betsoft, Booming, Play’n ‘Go, Bet games, Endorphina and Tiger Games.

The casino list of games features popular 3D video slots such as “Mr. Vegas” as well as traditional games like blackjack and roulette. It also offer LIVE dealers including Live Dice and Live Lotto games, dealt by the most beautiful girls. Table games and live dealer games are provided by Takisto and Ezugi respectively, two up-and-coming providers who’ve certainly impressed with their games on this site.

For new players the casino offers a welcome bonus of 100% up to 1BTC (1000 mbtc)! Once you have made your first deposit, send a message to the casino support staff using live chat and they will credit the bonus to your account immediately. For your second deposit, you’ll receive a 50% bonus up to 1 BTC, and for every deposit thereafter, you can get 25% up to 1 BTC. Claiming your reload bonuses is the same as for the welcome bonus – just contact the live chat centre and they’ll credit your account with the bonus.

Wagering requirements are 35x the bonus amount, and your bonuses are only available for 30 days from the date of issue. Make sure that you read up on the terms and conditions before you start playing too. Also there are various VIP bonuses to for casino regular players. BitCasino offers 24/7 customer support for all players.

BitStarz

Bitstarz- Canadian Bitcoin Casino

BitStarz is a popular BTC casinos with the aim to dream big win bigger offers an extensive array of games and bonuses. Casino is legit casino launched in 2014 licensed in Curacao and operated by Nabelse Holdings Limited. You can find new bonuses, logos of nearly every game they offer, ongoing promotions and of course the fact that they accept regular currencies including CAD in addition to Bitcoins. They prominently feature the addition of BetSoft’s 3D slot games that have become a hit with Bitcoin casinos recently in addition to the classic table and card games that many other casinos also offer.

Here find the deposit and withdrawal methods that you can use.

Games to play at Bitstarz

Boasting over 850 games, including live dealers and 3D slots, BitStarz is one of the most appealing casinos on the market. All the games are powered by Amatic Industries, Bet Soft Gaming, Ezugi, Soft Swiss  and  Micro gaming. When you first sign up you get 20 free spins as no deposit bonus.  When you make your first deposit you get 100% bonus up to $100 or 1 BTC. Plus 180 FREE SPINS on Boomanji or Fruit Zen or Wolf Gold slot game.

First 20 free spins is credited 23 hours after first deposit and then 20 more 24 hours later. This will go on for 9 straight days until you get a total of 180! On your second deposit at BitStarz, a 50% bonus up to $100 or 1 BTC will be instantly credited to your account.Your third deposit will be rewarded with an instantly credited 50% BONUS up to $200 or 2 BTC.  Enjoy another 100% bonus on your fourth deposit up to $100 or 1 BTC, credited instantly to your account. The casino can be contacted 24/7 and you choose to contact for helo via live chat, or email them at support@bitstarz.com or request for a telephonic call.

Bitcoins best alternative for PayPal

There are many advantages of using Bitcoins at online casinos and therefore is the best alternative for PayPal deposit method.

  • There are no minimum or maximum deposits with bitcoins and you get to enjoy the best casino bonuses  when you play in BTC.
  • Bitcoin transactions are, as you know, free, immediate and safe. Even quicker than PayPal and definitely safer than Visa or Mastercard. This makes bitcoins a fantastic currency for playing at an online casino.
  • You can use your credit card to buy bitcoins at certain bitcoin casinos. Also you can use Skrill and Neteller are both accepted as are bank cards (both credit and debit) to get BTC.
  • You have full security and anonymity at online casinos when making a deposit with BTC. Each account is identified by an automatically generated unique access URL, which can be further secured by a password and a 2-factor authentication app.
  • Withdrawals can also be locked to a fixed withdrawal address meaning that even if a player did allow their account to be compromised, funds could only be withdrawn to their address of choice.
  • Bitcoin transactions do not need to be processed via a bank institution, which means your details are not shared with third parties.
  • There is no need to provide any personal data, and the platform does not collect any info which could be used to identify players, such as IP addresses. The only connection between your unique URL identifier and yourself is the wallet which you use to deposit funds to your account.
  • Another important advantage of Bitcoin casinos is the fairness with which it treats its players. Some of the lowest house edges on the market, ranging from 0.2% to 1%, depending on the game.
  • The majority of Canadian Bitcoin Casinos are cell phone-friendly, so you can engage in your favourite game via a tablet or smartphone device.

Points to note when making a Bitcoin deposit at Canadian friendly online casinos

  • You should be 18 and over years of age
  • According to Canadian laws, casino income is a subject to taxes. That’s also applicable to the casino winnings paid out in Bitcoins. Players are required to document their casino earnings as a taxable gain. If you have used Bitcoin as a payment processor, the value of your casino earnings is equal to the value of the Bitcoins at the time you played casino games.
  • The casino you choose to play at should always be licensed with a gambling authority like the Curacao eGaming or Malta or Gibraltar Gaming.
  • You also need to look at bonuses that are being offered. The best casino sites will allow you to gamble in BTC and regular currency and will have a bonus offer for both.
  • It is important to look at the games suite too because not all online casinos are the same and some have a limited selection of games whilst other will offer the most recent slots and table games.

Bitcoins are legal in Canada just as normal online gambling is legal in Canada. Canada’s first national law on regulating the digital currency was brought in on June 19, with Bill C-31. The county’s current law was amended to include local and foreign businesses in digital currency markets in Canada to the areas covered by the Proceeds of Crime and Terrorist Financing Act of 2000. Once this law is enforced, businesses operating in Canada or those providing services to consumers in the country will be regulated and considered as money services businesses (MBS). This will ensure that exchanges of bitcoins have to follow standards of reporting suspicious transactions, keep records, use verification procedures, and adhere to registration requirements. If passed it may mean some changes to bitcoin casinos but for the moment bitcoin gambling is legal.

As Canadians you can buy bitcoins from exchange companies such as Quadrigacx.com, Kraken.com, and CoinSquare.com. You can also purchase them from people who have cryptocurrency they want to sell. You can purchase using cash, debit and credit cards, and other supported forms of payment.

Besides these two above best Bitcoin casinos you can also play at Slots.lv and Bodog casino with Bitcoins.