What Is Bitcoin?

• Unprecedented transaction speed
• Complete safety and anonymity
• No transactions fees
• Made for online bettors

Bitcoin is the leading cryptocurrency or digital currency based on blockchain technology. It was created by Satoshi Nakamoto, an alias used by a brilliant tech expert still unknown to the world. As a digital currency, bitcoin has taken over the world of online payment and the Internet.

It was created as a means of conducting safe and anonymous transactions between people and businesses. The blockchain technology behind it is a system that tracks all transactions that have used bitcoin since its inception, and this information is built into ‘blocks’ that actually make up bitcoin.

Bitcoin is a decentralized cryptocurrency, which means no central bank or institution can ever control it. It is a peer-to-peer network whose value is determined solely by how many bitcoins are out there and how much people are willing to pay for it.

The application of bitcoin is possible in all spheres of online payment and exchange of goods and services, and online sportsbooks seem to have benefited the most from it.

More and more sportsbooks in Canada are beginning to see the merit of using it since it is a fast, secure, and an incredibly reliable way of making deposits and withdrawals.

The list of the best betting sites in Canada that offer bitcoin keeps growing, which is why we have compiled this guide to show you how betting with bitcoin works and where you can find the best bitcoin betting sites in Canada.

Is Betting with Bitcoin Legal in Canada?

The issue of the legality of betting with bitcoin is a common topic among the online punters, but there are no reasons for concern. Namely, betting with bitcoin is legal in Canada as is in many other countries around the world.

The concerns might have come from the fact that it is a decentralized cryptocurrency, which means that the Canadian, or any other government in the world for that matter, can’t control it or affect its value.

Also, as many of these best online sportsbooks in Canada do not operate within the Canadian territory, they are not subject to Canada’s betting laws. However, Canadian players are not banned from accessing these sportsbooks, so you can relax and enjoy wagering on your favorite betting markets.

Why Choose Bitcoin?

As we’ve briefly stated earlier, bitcoin offers almost instant deposits and withdrawals. As there are no third-party institutions involved in the transfer of funds between the sportsbooks and your bitcoin e-wallet, a virtual storage place for your bitcoins, you can transfer funds in a matter of minutes.

Also, the highest possible degree of anonymity comes with bitcoin. Unlike with credit cards or other deposit methods, you don’t need to provide personal data, such as your ID, to the sportsbook since the verification was completed when you opened your bitcoin e-wallet.

Furthermore, as bitcoin is based on blockchain technology and created solely through the mining process, there is no way someone can hack into the data and steal your bitcoins. Just safeguard your password and you will always be perfectly safe when using bitcoin.

What to Look for on Best Bitcoin Betting Sites?

It is already possible to find bitcoin as a payment method among the best Canadian betting sites, as they have realized the potential of the method. To make sure you have made the right choice of bitcoin betting sites and sportsbooks, you need to keep specific details in mind.

First, you need to double-check if depositing and withdrawing funds with bitcoin is indeed available. There have been cases where sportsbook claimed they accepted bitcoin when, in fact, they didn’t. Luckily for you, all the best Canadian bitcoin betting sites we suggest offer bitcoin for real.

Next, you should check if the sportsbook offers your favorite betting markets and if there are any exotic ones that can spice up your betting routine.

It is also essential to read the terms and conditions of using bitcoin, such as the ones related to wagering requirements, deposit and withdrawal limits, etc.

Finally, you should see if there are any bonuses attached to using bitcoin as a payment method, as most of the best bitcoin betting sites in Canada have some of these exclusive perks they offer to players.

How to Find Best Bitcoin Bonuses?

Bitcoin sportsbook bonuses are usually in the form of deposits. The bitcoin deposit bonus is normally a part of the welcome offer that gives you bonus funds on your first deposit made with bitcoin.

In most cases, the best bitcoin sportsbooks in Canada and the world reward a 100% match first deposit bonus up to a certain amount to attract new players to their site.

Apart from funding your account with bitcoin, there are always some other requirements you need to meet before getting the bonus. Depending on the sportsbook, the requirements can include a specific minimum deposit amount, particular wagering requirements that demand you wager the bonus and deposited funds a number of times before you can withdraw your wins, rules that state you need to use the cash balance first before you can use the bonus cash, etc.

It is best to check the sportsbooks’ bonus T&C first so that you don’t get any unpleasant surprises.

Is There a No Deposit Bitcoin Bonus?

No deposit bitcoin bonuses are one of the best marketing strategies betting sites can employ, and these types of marketing strategies are always paying dividends. Namely, the no deposit bitcoin bonus is a bonus that players receive upon registering their account. You don’t have to deposit any funds of your own to get this bonus. The sportsbook gives you a certain amount of funds to test their betting markets and decide if you like them, as well as to see what the benefits of betting with bitcoin are.

Of course, there are some requirements with these bonuses too, so be sure to read about them carefully. If you still have some questions, you can always contact the sportsbook’s customer support team for help.

Using Bitcoin for Sports Betting

Regardless of the betting market of your choice, you can use bitcoin to bet. The process is just like the one with fiat currencies, only the currency is different.

Whether you are a fan of NFL, NBA, or soccer, the best Canadian bitcoin sportsbooks will surely meet your needs. Also, the best bitcoin sportsbooks are known to feature certain exotic betting markets, such as politics, which means you can try something new and different.

With bitcoin, the transfer of funds is faster and more reliable. On top of that, this cryptocurrency offers unparalleled security, meaning you will make the most of both your time and money.