Top 10 Cryptocurrency Deposit Methods
Making an online payment can be hassle, especially if you are using traditional bank transfers or a credit or debit card. The good news is that more and more Canada online casinos are accepting cryptocurrency payments, and deposits are cheaper, quicker and a lot more reliable than traditional methods. If you are keen start paying this way, take a look at the top 10 cryptocurrency deposit methods accepted online.
No 10 – Stellar
Stellar (XLM) was set up by Ripple co-founder Jed McCaleb in 2014. The system uses a blockchain based ledger system to connect banks, payment providers and users across the globe. Cross border transactions are their forte, which makes them ideal for casino transactions at all sites that accept them.
No 9 – Ripple
Ripple (XRP) has only recently started being used for cryptocurrency depositing in Canada. Designed as a centralised transaction network, funds are converted into XRP, transferred via the Ripple networks, and converted back into traditional currency for online payments.
No 8 – Peercoin
Peercoin (PPC) was developed in 2013 as an alternative to Bitcoin, mainly because of the amount of electrical energy used to sustain the Bitcoin network. Peercoin works using blockchain technology with a hybrid mining system. It has become increasingly popular for online deposits at Internet gambling facilities.
No 7 – Dash
Dash, otherwise known as Dash Coins, was developed from Bitcoin technology and software. It was created as a decentralised system for faster transactions and improved financial privacy. Dash is ideal for cryptocurrency depositing at all leading casinos.
No 6 – Dogecoin
Initially developed as a parody currency, Dogecoin quickly developed its own community and is now one of the major cryptocurrencies on the market. The Blockchain-based system works like many of the other standard products for fast, efficient transactions.
No 5 – Monero
Monero (XMR) is global cryptocurrency based on the CryptoNote protocol rather than Blockchain technology. It is ideal for mobile depositing at multiple sites, as it allows users to make fast transactions with an extremely high degree of anonymity.
No 4 – Bitcoin Cash
BCH is a fork of the standard currency and features enhanced security. Using almost the identical protocol, BCH changes the difficulty every 6 blocks to create a more stable and more secure systems. It is accepted at all top-rated sites.
No 3 – Litecoin
Litecoin is known as Bitcoin’s little brother and uses the same peer-to-peer technology. The big difference is that Litecoin has much faster transaction fees and a higher token limit, which is around 84 million. Litecoin is one of the major currencies accepted at all crypto casinos.
No 2 – Ethereum
Ethereum is a one of the most popular cryptocurrency deposit methods in Canada. Using smart contract technology, the digital currency is used for multiple applications in the financial technology and trading industry. Payments are fast, reliable and come with little to no fees.
No 1 – Bitcoin
Bitcoin is the largest and most popular cryptocurrency in use today, and a number of leading casinos accept Bitcoin payments and process withdrawals. Transfers can be made directly from your wallet or via an exchange site.
Wallets and Payment Processing
Making a payment at an online casino is usually done directly through a wallet or via an exchange site. Some Canada online casinos have their own digital currency that you can buy on the site using local dollars. Wallets are the easiest to use, whether you are using a software, hardware or online wallet. Transactions are completed simply by moving funds from your own wallet into the site’s wallet. Some software and online wallets process multiple currencies if you want to use more than one type of virtual currency.