Guide to Buying, Trading and Gambling with Altcoins Canada
Ten years ago, Bitcoin was all the rage! Then, once the original crypto went mainstream, tech-heads started pointing out a lot of (mostly) unforeseen flaws. Bitcoin blocks are small, transfers are slow, and it’s not nearly as anonymous as it was cracked up to be. This didn’t stop its value from fluctuating like a pendulum in a wild hurricane, but it did cause others to rethink how cryptographic currency should work.
A lot of different people had a lot of different ideas in that regard. Most alternative tokens – Altcoins as they’ve come to be known – were created by techies, because they were hoping to make a quick buck. However, some of them were genuine pioneers of the digital age. Their cryptos were built to be faster, cheaper to move, more secure than their predecessor.
Most Popular Crypto Altcoins in Canada
A lot of you still prefer the original Bitcoin [BTC], or the multiple forks that came from it, (Bitcoin Cash [BCH], Bitcoin Satoshi’s Vision [BSV], ecoBitcoin [eBTC], etc), and there’s nothing wrong with that. For the rest of you, there are a lot of great altcoins worth considering.
Please bear in mind that we at BTC Blackjack are less concerned with the crypto investment market, and more concerned with quick, safe, cost effective ways to play online casino games. Therefore, the information found on this page should not be taken as investment advice. Instead, we offer information as to what we’ve found, in our personal experience, to be the most useful altcoins, and why.
Herein, you will find a brief synopsis of the qualities and features of each altcoin on our menu. You can click on any of the below altcoins to jump right to it. This is an ever-expanding list, so if you don’t see the altcoin you’re looking for, please check back at a later date.
- Binance [BNB]
- Cardano [ADA]
- CasinoCoin [CSC]
- Chainlink [LINK]
- Dogecoin [DOGE]
- Ether [ETH]
- Litecoin [LTC]
- Monero [XMR]
- Neo [NEO]
- Ripple [XRP]
- Tether [USDT]
- Tron [TRX]
- Verge [XVG]
Binance [BNB] (Full Review)
Binance Coin is a popular token among today’s crypto gamblers. Unfortunately, it’s becoming harder and harder to find at today’s reputable altcoin casinos. That isn’t a problem for most users, because BNB is rarely the crypto choice of iGamers. The main reason BNB exists isn’t to fund iGaming accounts, but to support the Binance Exchange, incentivizing its use as a trading service.
Through the BNB Exchange, users can by and sell hundreds of different crypto currencies (including all of the altcoins on this list). What’s more, purchasing BNB first, then using it to exchange for other cryptos, means you get a big, juicy discount on commission fees. So, no matter what crypto you intend to bet with, BNB and the Binance Exchange are worthy of your consideration.
What You Need to Know about Binance Coin
- BNB is an integral part of the Binance Exchange.
- The Binance Exchange is available in most of Canada, but is banned in Ontario.
- Binance is not 100% anonymous.
- Online casinos that also accept BNB:
Cardano [ADA] (Full Review)
Founded in 2015, Cardano is a public blockchain platform that facilitates P2P transactions of its decentralized ADA crypto. It’s an open-source platform that transacts via proof-of-stake consensus. One of the highlights of ADA is that it is among the least energy-reliant cryptos in existence. The Cardano blockchain comes with its own native language for immutable smart contracts, providing impenetrable security between traders.
What You Need to Know about Cardano
- Environmentally friendly crypto.
- Built to be faster than Bitcoin, safer than Ethereum.
- Fort Knox level security.
- Online casinos that also accept ADA:
CasinoCoin [CSC] (Full Review)
Originally appearing as Crazy8 Token [CR8] on the CasinoCoin Ledger, the CasinoCoin token [CSC] is actually a rebrand. Over time, its founders thought moving to the faster, more secure XRP Ledger would benefit the coin and its users. The end result was the dismissal of CR8, and the subsequent tokenization of a much more self-explanatory title, CasinoCoin.
Today, CSC is the most trustworthy digital coin ever to be built specifically for internet gaming purposes. It was founded on the principle of complying with the strict consumer protection laws of the world’s leading iGaming regulators. In this way, CSC developers are working to contribute to the development of a safe, secure, digital gambling experience.
What You Need to Know about CasinoCoin
- CSC’s developers are experts in iGaming and iGaming regulation.
- To meet regulatory AML guidelines, CSC is not an anonymous crypto.
- CasinoCoin deposits and withdrawals are near-instant and inordinately cheap.
- Online casinos that also accept CSC:
- None at this time.
Chainlink [LINK] (Full Review)
Chainlink is a premier choice for facilitating Ethereum-based smart contracts. It was originally a blockchain oracle, designed to link smart contracts with buyers, but it soon evolved into a full blockchain network with its own native token, known as LINK. As complex as the Chainlink ecosystem sounds, its unique crypto coin is like any other. You can buy it, sell it, trade it for goods and services, or hit up your favorite crypto casino to play online blackjack.
What You Need to Know about CasinoCoin
- LINK transacts on the Ethereum network.
- The Chainlink Oracle Network is a benchmark for crypto security.
- By nature, ChainLink is not and cannot be anonymous.
- Online casinos that also accept LINK:
- None at this time.
Dogecoin [DOGE] (Full Review)
Dogecoin [DOGE] was originally a joke; a token with no other reason than to prove that literally anyone, with just a smidge of programming knowledge, could create a crypto currency. Otherwise, there was no real rhyme or reason behind it. But today, DOGE is no joke. In fact, it’s the favorite crypto currency of SpaceX and Tesla Motors CEO, Elon Musk. He’s not the only one who loves it, either. Its plethora of users take preference to DOGE because it’s quick, cheap, and easy to move, not to mention impenetrably secure. It also happens to be available at almost every crypto casino worth mention.
What You Need to Know about CasinoCoin
- DOGE trades on pretty much every CEX and DEX known to man.
- You can purchase Dogecoin on 90% of the world’s Bitcoin ATMs.
- It is not a truly anonymous crypto.
- Online casinos that also accept DOGE:
Ether [ETH] (Full Review)
The Ethereum network specifically exists to facilitate programmatic, immutable contracts – a.k.a. “smart contracts” – utilizing its own native currency, Ether. It was, for all intents and purposes, the first genuinely useful crypto business model / payment system. ETH isn’t just for smart contracts, though. Like so many other altcoins, the speed, security and functionality of Ether has made it a perfect medium for betting, bartering and trading; all pre-loaded with the standard perks of digital monetization.
What You Need to Know about Ether
- ETH transacts more than 40x faster than BTC.
- It is the world’s #2 crypto by market cap (second to BTC).
- The Ethereum Network is not anonymous.
- Online casinos that also accept ETH:
Litecoin [LTC] (Full Review)
The vision behind LTC was to create a digital token similar to Bitcoin, but better; one that users could mine, recode, and transfer at a faster rate. At its launch, LTC was running at about 4x the speed of BTC, which was great at the time, but not so impressive today. More impressive is the proof-of-work algorithm it operates on, as it effectively reduces commission fees. Today, Litecoin is one of the most popular cryptos in the world. Almost every globally operating crypto casino proudly accepts it.
What You Need to Know about Litecoin
- Successfully engineered to be the ‘quicker, cheaper Bitcoin‘.
- The second most widely-accepted crypto for iGaming, behind BTC.
- Transacts 4x faster than BTC, at a fraction of the cost.
- Online casinos that also accept LTC:
Monero [XMR] (Full Review)
Monero [XMR] resembles Bitcoin and other altcoins in many ways. As a decentralized, digital token, Monero runs on an open-source framework, recording transactions on a sophisticated blockchain ledger. Where this crypto differs from so many of its cousins, however, is that it features greater scalability, absolute fungibility, and as a result, impenetrable anonymity. Monero’s finest selling point is that it is among a rare class of crypto currencies that are truly private. The only problem is that not a lot of trustworthy crypto casinos accept it.
What You Need to Know about Monero
- XMR is a genuinely anonymous privacy token.
- Despite a reputation for illegal use, Monero is a great choice for perfectly legitimate transactions.
- You can still mine it without expensive equipment.
- Online casinos that also accept XMR:
- None at this time.
Neo [NEO] (Full Review)
Appearing in 2014 as AntShares, the Neo crypto name is a 2017 rebrand. Although not a ‘limelight’ feature of the decentralized-token market, NEO garners immense respect for its commitment to regulatory compliance. Every user and business operating on the network must maintain a unique and verifiable digital identity. So, if it’s 100% anonymity you seek, Neo isn’t the crypto for you. But if trust and security are your primary concerns, it’s absolutely worth your consideration.
What You Need to Know about Neo
- Inherently compliant with KYC/AML regulatory protocol.
- NEO tokens are non-divisible, and cannot be split into partial units.
- Online casinos that also accept NEO:
Ripple [XRP] (Full Review)
Like a lot of today’s most successful crypto coins, XRP’s creation had a very specific purpose; to replace (or at least provide a much better alternative to) international bank transfers (a.k.a. SWIFT). In theory, it is far more efficient than the current SWIFT system, being extraordinarily faster and cheaper. The only real hiccup is a long-standing issue with the US SEC regarding XRP’s development “out of thin air”, and the sale of that “commodity” without SEC registration or exemption.
If and when that matter resolves, the expectations for XRP are tremendous, as it can do wonders for the world’s financial markets. Until then, it’s a low-cost, time and energy efficient way to move money to/from businesses around the world (including crypto casinos).
What You Need to Know about XRP
- Trust in XRP teeters on the eventual outcome of its tangle with the US SEC.
- It is readily available for trade on all CEX / DEX markets.
- XRP and its Ripple Network are not 100% anonymous.
- Online casinos that also accept XRP:
Tether [USDT] (Full Review)
Did you ever think, “Gee, I wish there was a crypto currency that didn’t fluctuate in value so much!” Tether [USDT] is that crypto. Its name actually comes from the fact that its value is tethered to the US Dollar. Thus, it’s what we call a “stable coin”, wherein its value only changes with the value of the US$. At any given time, it will be worth somewhere between US$0.99 and US$1.01, if not exactly US$1.00. Tether may never achieve the status of ‘valuable commodity’, but it has definitely given crypto gamblers a way to move funds digitally, without fear of devaluation.
What You Need to Know about Tether
- It will never be a ‘good investment’.
- USDT – the digital mimicry of USD – is banned in US markets. Go figure!
- Tether is renowned for its stability, not its anonymity.
- Online casinos that also accept USDT:
Tron [TRX] (Full Review)
Tronix – better known by its colloquial blockchain name, Tron – isn’t among the Top-10, or even the Top-20, in terms of crypto market capitalization. However, we’ve chosen to include it here because the vast majority of the network’s activity revolves around entertainment applications, including the entertainment vertical we all know and love as online gambling. Though it may not be the most widely accepted crypto currency in the iGaming arena, TRX has most definitely earned its place in the market. Plus, it’s still considered a ‘penny stock’, making it a much more convenient medium than the 5-figure value of Bitcoin.
What You Need to Know about Tron
- Tron is an ERC-20 token operating independently on the Ethereum Network.
- It was built to connect buyers with media wholesalers, eliminating middleman retailers (i.e. “Decentralize the Web”).
- TRX cannot be mined, and no Canadian Bitcoin ATM sells it (yet).
- Online casinos that also accept TRX:
Verge [XVG] (Full Review)
Verge is another rare member of the ‘privacy coin’ classification. Its use is truly anonymous. XVG was developed (by an anonymous creator, no less) from the bones of Dogecoin, with the additional benefit of being a privacy coin. In fact, it was originally known as DogecoinDark. However, that unknown creator wanted to separate his/her creation from the tabloid-style drama that revolved around DOGE. So, itss creators chose to rebrand to Verge, or XVG for short.
What You Need to Know about Verge
- XVG is considered superior to Bitcoin in every way (speed, cost, scalability, privacy, etc.)
- Utilizing ‘Wraith Protocol‘, transactions are 100%, impenetrably anonymous.
- It is possible to turn off XVG’s ‘Wraith Protocol‘, shining light on user identities in cases like P2P transactions where that added layer of trust and security is needed.
- Online casinos that also accept XVG:
- None at this time.
