Bitcoin Bookmakers Offer Canadians a Bounty of Benefits

Are you a savvy Canadian sports bettor who likes to take advantage of big bonuses and valuable promotions? Are you adamant about only betting at reputable licensed sites? Do you insist on having the highest levels of security and anonymity when you bet online? If so, you are at the right website. You’re about to learn about the benefits of using a Bitcoin-friendly bookie.

Canadian Bookmakers with Bitcoin

While it took Bitcoin, and cryptocurrency in general, a few years to find its place, it has become one of the most popular, fastest, and cheapest ways to conduct online financial transactions. Bookmakers didn’t take an immediate shine to Bitcoin, but that’s changed over the past few years as an increasing number of bookmakers have added it as a payment option. You’ll find the best Bitcoin bookmakers in the list below.

Why Choose Bitcoin for Sports Betting?

Pros:

High level of security and anonymity
Many Bitcoin bookmakers offer bigger bonuses for Bitcoin deposits
Fast and hassle-free withdrawals

Cons:

Many major bookmakers don’t support Bitcoin payments
Bitcoin is highly volatile
No refunds or chargebacks

Using Bitcoin to bet on sports comes with a few significant benefits. While crypto payments aren’t always 100% anonymous, no other payment method gives you such a high level of anonymity. Transactions are peer-to-peer and do not require any personal information. You only need to divulge your wallet address which protects your identity. This is an important consideration for Canadians who value their privacy when they’re online.

Another benefit of using Bitcoin is that many Bitcoin-friendly operators will give you a bigger bonus for Bitcoin deposits than they would if you used other traditional methods like credit cards, eWallets, or vouchers. One of the reasons for this is that Bitcoin transactions do not involve any middlemen. When you use other payment methods, the transaction goes through a third-party intermediary that charges a fee. Bitcoin payments do not involve a third party which means no commissions are taken. The result is that your Bitcoin transactions are considerably cheaper. In fact, they are free in many cases. This benefits both the bookmaker and the customer.

Another consequence of eliminating a payment provider from the equation is that transactions are processed much faster. Sure, almost all payment methods facilitate instant deposits. Bitcoin deposits usually take about a minute or less to complete. However, Bitcoin withdrawals are much faster than other payment methods.

While a few bookmakers can process eWallet withdrawals within 24 hours, many can take up to a week or more. Credit card withdrawals are rarely completed in less than three days. The same can be said of bank transfers and wire transfers. Several great Bitcoin bookmakers can get your cash to your Bitcoin wallet within minutes. This is very attractive to Canadians who don’t like waiting to get their hands on their winnings.

Despite the many benefits, Bitcoin users face a few pitfalls. Most notable is the fact that Bitcoin is highly volatile. The price can go through major peaks and valleys in the blink of an eye. It is rare that fiat currencies go through such dramatic fluctuations. Another disadvantage is that many online bookmakers don’t accept Bitcoin. However, Bitcoin bookmakers are on the rise.

How to Get Bitcoin

Getting Bitcoin is easy and straightforward. The first thing you need to do is get a Bitcoin wallet. Because there are so many of them out there, you should do a little research to find out which one suits you best. You can then register an account at a Bitcoin exchange. Coincidentally, most Bitcoin exchanges offer free wallets.

Once you’ve set up your Bitcoin wallet and crypto exchange account, you can now go ahead and purchase your Bitcoin. You can pay for the Bitcoin using a variety of methods including instant bank transfer and credit/debit card. You can even use one of many eWallets such as PayPal and Skrill at most exchanges. Once you’ve purchased your Bitcoin, you are ready to make your deposits and withdrawals at Bitcoin bookmakers. Don’t forget to look for the best Bitcoin bonuses. They can be extremely generous.

FAQs

Can I deposit and withdraw money using Bitcoin?

Yes. Once you have your Bitcoin, you can make a deposit and collect your bonus at a Bitcoin bookmaker. The payment will normally be processed within a minute or two. You may also conduct withdrawals which can take as little as a few minutes to reach your Bitcoin wallet.

How long does it take to withdraw money from an online bookmaker using Bitcoin?

The length of time it takes to get your Bitcoin withdrawal into your wallet varies depending on the bookmaker. Some can do it almost immediately while others can take a couple of days. You are urged to check your bookie’s terms and conditions to find out how long their Bitcoin withdrawals take.

Conclusion

Canadians who use Bitcoin have plenty of excellent Bitcoin bookmakers to choose from. Those who do not currently have Bitcoin should consider getting it because there are so many benefits such as big bonuses, special promotions, and ultra-fast payouts. Let’s not forget that Bitcoin transactions are very secure and provide maximum anonymity.

As of this writing, one Bitcoin is valued at a little over CAD $23,200. You do not have to buy a whole Bitcoin. Instead, you can purchase a small fraction of a Bitcoin. Some exchanges allow you to invest as little as $2 although you’ll probably want more than that if you plan on betting with it. Bitcoin is an ideal payment solution for Canadians.