The Canadian Love Affair with Crypto Casinos
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Few industries have evolved and changed over the past couple of years as much as the online gambling industry. Lifestyle changes and preferences ushered in by the COVID-19 pandemic have dramatically increased the popularity of online casinos. More and more Canadians are opting to play and win online rather than making the trip to brick-and-mortar casinos.
A new type of online casino has emerged in recent times, the crypto casino. Crypto casinos combine the same features as traditional best neosurf casino online for canadian players platforms with the added ability to deposit and withdraw with cryptocurrencies. Unless you’ve been living on top of a remote mountain for the past 5 years, you will know that millions of people around the world have invested in cryptocurrencies such as Bitcoin and Ethereum.
The Canadian gambling community has come to love crypto casinos for a variety of different reasons. Blockchain technology offers a range of benefits that aren’t available through the use of conventional fiat currency. It’s something that has even encouraged people to acquire cryptocurrency to gamble in this way.
First of all, the use of cryptocurrencies to deposit and withdraw into your online casino account offers incredibly fast transaction speeds. These transaction speeds can be attributed to the way that distributed technology works.
Unlike conventional banks, there is no intermediary party that must approve the transaction before it arrives in the recipient’s account. This means that deposits and withdrawals are often processed in an hour or less. Canadians are getting used to not having to wait for their winnings.
The second reason that crypto casinos are becoming increasingly popular is the prevalence of cryptocurrencies within wider society. Even though the crypto market is currently taking a battering, thousands of people are hoarding it because they believe in the strengths of the technology.
Some people have even gone as far as completely abandoning traditional fiat money, which means that these people need casinos that will accept mainstream cryptocurrencies. The world is changing, and the gambling industry has recognized that it needs to evolve, so it doesn’t get left behind the technological curve.
The third reason that the number of Canadians gambling on crypto casinos continues to increase is because of the great promotions on offer. The online gambling space continues to become more and more competitive, with new casinos looking to steal market share from legacy brands. As such, casinos are having to get increasingly imaginative with the offers and promotions being offered to both new and existing customers.
Finally, cryptocurrencies offer a degree of flexibility and anonymity which can’t be got from conventional banks. As crazy as it sounds, gambling remains a taboo subject in 2022. There are many Canadian banks that will block account holders from depositing into a casino account.
What’s more, any instance of gambling on a bank statement can dramatically decrease an individual’s chances of being granted a loan or mortgage. The use of cryptocurrency as a gambling currency immediately dispels these difficulties.
Some of the most common promotions include free spins and deposit match bonuses. When Canadians choose a casino, create an account and make their first deposit, they are frequently given hundreds of free slot spins to enjoy.
It’s a fantastic deal that allows people to sample the gaming ecosystem and see which games are their favourite. In addition, the deposit match bonus will double the amount of cryptocurrency that you can gamble with. You don’t need me to explain to you why this has proven to be a big hit with people.
The great thing is that, as crypto casinos are relatively new to the gambling space, we’ve probably only seen a fraction of what they can offer to people. It’s clear that they will be accepting more and more different types of cryptocurrencies in the years to come.
At the moment, if you don’t own Bitcoin, Ethereum or Litecoin, you can’t be sure that you will be able to use your cryptocurrency to deposit into your account. Thankfully, this is changing on a weekly basis, so be sure to watch this space.
The crypto casino sector is booming in Canada, with reports indicating that their year-on-year revenues have increased by approximately 70%. We would suggest that this only represents the tip of the iceberg.
