Gambling for many Canadians is more than a hobby; they are very passionate about it and the type of currency to use. In ancient times, people placed wagers bets in a trade-by-barter method, with gamblers staking their commodities. Today, there are multiple means of placing bets regarding the type of currency.
Wagers with silver and gold coins, the accepted forms of payment at that period, were no longer logical due to their weight and size. Furthermore, the introduction of paper currency greatly benefited the gambling sector as it enabled gamblers to place bets without stress. Consequently, this period was what changed the gambling industry in Canada.
People made many institutions, beginning with land-based gambling shops. Eventually, they upgraded to online betting shops, which attracted many customers. However, the latest upgrade currency-wise is that of CryptoGambling.
Digital currencies are now the leading means of processing online transactions. Hence, many sites in Canada that provide sports and casino gambling options have optimized crypto. Therefore, this article will give tips and tricks to help you in your Bitcoin gambling journey.
The Basics of Gambling with Digital Currency
Bitcoin gambling is about using any available cryptocurrency you like to place bets on any gambling site. For many newbies, who want to try out any means of gambling, the most widely used is Bitcoin gambling platforms. Hence, if you decide to go and search for any gambling site, the most common would be Bitcoin gambling platforms.
Furthermore, the process of operating Bitcoin sites is similar to that of traditional betting sites. Therefore, all it entails is to join a Bitcoin-gambling site, select any suitable option and bet with digital currency.
Cryptocurrencies to Use for Gambling
Presently, there are many well-known and recognized coins to use for gambling. Gamblers have a variety of options to use for gambling. There are a lot of cryptocurrencies to choose from, making it an easier means of gambling. Some coins gamblers can use include:
Tips and Tricks to Use for Crypto Gambling
You have understood the basics of Bitcoin gambling and brushed up on the various types of coins you can use to place wagers. The next thing to watch out for is the tips and tricks that give you an advantage. For example, a good gambler can spot situations where he can apply specific schemes to improve his wagering chances. Below are some Bitcoin gambling tips and tricks that could prove helpful for Canadian gamblers.
Register on a licensed crypto gambling site.
The waves of traditional currency wagering came with so many fake platforms. Unfortunately, many of these fraudulent bookies are spilling into the cryptocurrency side of betting. In addition, many of these unscrupulous bookmakers, to cut costs, fail to license their sites.
Licensed Bitcoin gambling sites have many positives that make gambling with cryptocurrencies enjoyable. Hence, a gambling license is a prerequisite for being a good platform. Also, their platforms’ transparency makes gambling far more profitable.
Use Digital currency-based bonuses.
Bitcoin gambling sites are proficient in offering digital currency-based bonuses to their customers. In addition, most Casinos provide benefits specific to the coin of their choice, mainly Bitcoin, Ethereum, Dogecoin, and Tether. Hence, this is why the type of currency used goes a long way in helping your stance.
These cryptocurrency-based bonuses help to cushion the blow on a gambler’s pocket. Furthermore, the value of these bonuses is usually very high compared to fiat currency bonuses.
Test out the demo section
Most online Bitcoin gambling casino platforms have a demo section where you can freely play their games. However, a demo feature is a rare option complicated to come by. Hence it is only offered by selected sites. Furthermore, testing how good you are at a particular game helps to limit losses and increases your familiarity with its operation.
Validate their customer support
A helpful tip for any Bitcoin gambling enthusiast in Canada is to always test-run a site’s customer support. Unfortunately, many gamblers are usually not interested in the site’s customer support quality because they feel it’s unnecessary.
However, knowing the level of help you can get from a particular crypto gambling site is crucial. Therefore, you check the quality of the platform service on criteria like response time and message clarity.
Monitor the price of your preferred cryptocurrency
As earlier stated, the crypto gambling industry is vast due to the different numbers of coins in the market. Therefore, when gambling with any cryptocurrency, constantly monitor its price frequently.
For example, if you decide to use bitcoin on your crypto-gambling journey, it is good to know its current value. Most professional gamblers usually make deposits when there is a dip in the coin’s value. Then when there is a price increase is when they request withdrawals. Hence, timing is very crucial when operating with cryptocurrencies.
For Bitcoin gambling casinos, choose the high payout rate.
The payout of a particular casino game on one site will likely differ from that of another. This factor is a standard feature in casino gambling, especially card games and slots. Furthermore, the payout percentage on online casinos is significantly higher than traditional bookies.
Most Bitcoin gambling bookies usually inform their customers about the payout percentage on a particular game. Therefore, to be a good casino gambler, you should know the house edge of your favorite games.
How can I acquire crypto?
Gaining access to any digital currency is easy, as multiple means exist. Perhaps the most common is the use of a crypto exchange platform.
With these platforms, you can buy and exchange coins in the twinkle of an eye, and all are safe. Most of the popular coins on the market are usually present in all the exchange platforms. At the same time, others generally go deeper in offering smaller altcoins and lesser-known coins.