Play Slots Using Cryptocurrency At Online Casinos
Recently cryptocurrency mining on iPhone, and iPad was banned by Apple. Apple updated its App Store review guidelines related to cryptocurrency, clearly banning the use of any “unrelated background processes”, such as cryptocurrency mining, in iPhone and iPad apps as well as in any third-party advertisements displayed within them.
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Earlier the only mention of cryptocurrencies in Apple’s guidelines for the App Store was those apps were allowed to facilitate cryptocurrency or Bitcoin transactions “provided that they do so in compliance with all state and federal laws for the territories in which the app functions”. But now, an entire section on cryptocurrencies has been added to the guidelines:
“Apps may facilitate virtual currency storage, provided they are offered by developers enrolled as an organization.” In addition, apps may not mine directly for cryptocurrencies, unless the mining is performed in the cloud or otherwise off-device. Apps may “facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself,” although apps facilitating Initial Coin Offerings (“ICOs”) must originate from “established banks, securities firms, futures commission merchants (“FCM”), or other approved financial institutions.” And finally, cryptocurrency-related apps “may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks.”
Apple had pulled crypto-related apps from the App Store like Coinbase, citing an unresolved issue, though the apps later returned in 2017, following which for a time, Coinbase became the most downloaded app in the App Store.
Play Slots Using Cryptocurrency
So how can you play slots in Canada with iPhone using cryptocurrencies?
There are so many online casinos offering cryptocurrencies like Bitcoin, Litecoin, Dogecoin, Ethereum, Bitcoin Cash and other such coins as one of the deposit modes to fund your casino account and play real money slots with an iPhone.
With this new Apple update, it is not that you cannot use Bitcoins to play slots. You cannot mine such currency directly from apps but you can buy and sell Bitcoins as you do in any online transaction.
The unique thing is that you can play at any online legit casino without making a deposit in CAD and play pokies of your choice.
The question often asked by Canadian gamers is how and where to buy Bitcoins in Canada and use it to play Slots with iPhone
As you all know that Bitcoin is simply a decentralized cryptocurrency, coined decentralized owning to the fact that it is not controlled by any financial institution, government or even backed by any bank. This purely digital currency thus has no notes or coins that can be used exclusively in online transactions. In this monetary system, encryption is used to secure transactions and keep your transactions anonymous.
Bitcoin is legal to buy and transact in Canada
In Canada, Bitcoin would seem to be classified pursuant to the current provisions of the PPSA simply as an “intangible”. Bitcoin is expected to be regulated under anti-money laundering and counter-terrorist financing laws in Canada, based on a federal budget bill (C-31), passed in 2014. Regulations must be enacted before this provision becomes active, however, once they are it is expected that “dealers in digital currency” will be regulated as money services businesses. The Authorite des Marches Financiers, the regulator in the province of Quebec, has declared that some bitcoin-related business models including exchanges and ATMs are regulated under its current MSB Act.
As of April 2018, the Bank of Montreal (BMO) announced that it would ban its credit and debit card customers from participating in cryptocurrency purchases with their cards. This is following another banking ban in Canada from Toronto Dominion (TD.) This ban is expected to be temporary as reported by CBC to evaluate the “evolving market” of bitcoin and other currencies.
So that means you can still use Bitcoins at an online casino to play slots or table games or any other live casino games.
Where to get Bitcoins from and how to store them?
To play at Bitcoin casinos you obviously need Bitcoins and the easiest way to get them is through a bitcoin exchange. So how that works is:
- Create a wallet at the bitcoin exchange: All you need is a verifiable email address to get started.
- Once you’ve selected and signed up for an exchange, you can begin buying or transferring money to your exchange bank account.
- Once the money is deposited, you can choose to ‘Buy’ or ‘Trade’ the bitcoins. The pricing will always vary depending on supply and demand.
- Once the bitcoins are purchased, you can transfer your bitcoins from the bitcoin exchange to your wallets.
There are different methods through which you can purchase bitcoin. Also, there are many currencies you can use to buy bitcoin from different exchanges. After buying bitcoins you will be allowed to use them anywhere you want and enjoy anonymity and safety. Another thing is that you can exchange your bitcoin into fiat currency through any of your selected bitcoin exchanges online.
In Canada, you can get Bitcoins from these Exchanges or from here to get BTCs
In Canada, casinos remember income is subject to taxes. That’s also applicable to the casino winnings paid out in Bitcoins. You are required to document your casino earnings as a taxable gain. If you have used Bitcoin as a payment processor, the value of your casino earnings is equal to the value of the Bitcoins when you played casino games.
The majority of Canadian Bitcoin Casinos are cell phone friendly, so you can engage in your favourite game via iPhone or Android.
How to play slots with Bitcoins at online casinos with iPhone?
- It is a simple process to play slots with Bitcoins on iPhone
- First, you need to choose an online casino that offers Bitcoins as a deposit mode.
- Next type the URL of the casino on your iPhone Safari web browser
- You will enter the casino home page
- Now register yourself and open an account with your iPhone
- Make a deposit in Bitcoins or any cryptocurrency of your choice.
- The Bitcoin casinos will convert your bitcoin into their base currency which is CAD and the exchange rate will be boldly displayed in the bank interface on the site.
- Although you can’t use a bank account, credit card or cheque, avoiding the conventional banking system means transactions are faster. Using conventional currency, cashouts can take days, and cheque deposits up to a week. Bitcoin transactions are usually completed within minutes.
- Bitcoin casinos have no transaction costs. All transfers are peer-to-peer, so there are no middlemen to pay. Multi-currency casinos often make charges to deposit or withdraw using a credit card, and the providers themselves may have fees. The same can be true for e-Wallets and banks.
How to make a withdrawal if you win on slots?
When it comes to withdrawing Bitcoins from online casinos, the method is safe as it is simple. Players will need to determine the amount of BTC they would like to withdraw from their online wallet and ensure that there are sufficient funds available in order to do so. If you have signed up with an online casino using a bonus code or a welcome package, you would first need to ensure that all wagering requirements have been met before making a withdrawal or you will not be able to access the funds. The following steps are usually required to make a withdrawal from an online casino that transacts BTC:
- Sign into your online casino wallet using your login details with your iPhone
- Navigate to the ‘Withdraw’ option
- In the Bitcoin section, an address will be required, enter the address for the Bitcoin wallet
- Lastly, enter the amount that should be withdrawn
- Confirm payment
- Proceed to the casino homepage
Finding the best Bitcoin casino
Before signing up at Bitcoin casinos you should check the following:
- Bitcoin casinos should be licensed and regulated by the authentic gambling commission.
- The casino should have a provably fair system, and uses games from reputable traditional casinos. A provably fair system uses cryptographic techniques to determine the authenticity of a roll and ensure that neither the game nor the player knows the outcome of a roll prior to the bet.
- Bitcoin casinos should offer great promotional offers and BTC bonuses.
- The gameplay and interface should be user-friendly and can be played with various devices like mobile and tablets.
Here are a few of the best Bitcoin casinos to play slots: Casino.com, Bitstarz, Bit Casino, Coin Palace, Playamo, Raging Bull, Intetops, and Slots.lv, NetBet, SilverOak and many others.
Playing at Bitcoin casinos with iPhone gives much joy as you can deposit and withdraw anonymously without any third parties or middlemen. Also, you can play with high or low credit according to your budget in a fast deposit and withdrawal environment. Moreover, when making cashouts, there is no need for any ID proof and with loads of BTC bonuses at Bitcoin casinos a greater chance to make some wins when playing slot games. With 24.7 help support Bitcoin casinos are now much in demand and are appreciated by Canuck players.
Conclusion
This is everything to know about cryptocurrencies utilized in slots of Canada.