Cryptocurrencies have become increasingly popular over the past few years, to the point where they are almost mainstream. Online casinos have caught up with that and incorporated cryptos into their payment methods. In May 2021, Binance Coin experienced its peak, and many began perceiving it as a viable Bitcoin alternative.
Binance may not have been as popular as BTC, ETH, or XRP, but it caught the attention of investors worldwide. Soon after, Binance casinos started gaining traction. Nowadays, many Canadian online gambling platforms offer Binance as a banking method.
Top Binance Coin Casinos in Canada
Since it can be hard to find operators that are licensed and trustworthy and supporting BNB at the same time, we have combed through several dozen and selected those that tick all the boxes. Below is the list of casinos available to Canadian players.
What Is Binance Coin and Where to Buy It?
Binance was founded in 2017 by Changpeng Zhao, a former software developer at OK.Coin and Blockchain.info. It initially started as an app that acted as a cryptocurrency exchange, but it has grown to become the most popular app for crypto traders and investors around the world.
The same year in July, the company decided to launch its own digital coin — Binance Coin (BNB). Although things developed slowly initially, BNB took off in January 2021 and hit its record high of $602 in May 2021. Its price fluctuated over the following months and years, experiencing several highs and lows. Binance Coin skyrocketed again in March 2024, and its current value is over $570.
Although initially created on an Ethereum blockchain, Binance Coin migrated to its own blockchain soon after. This made it even more versatile — its owners could use it to pay for trading fees, participate in token sales, book flights and hotels, and even gamble at online casinos. BNB has become very popular among crypto users, and casino players are slowly getting acquainted with it.
In the past, people could only purchase Binance Coins via the Binance crypto exchange. However, things have changed, and many exchange platforms have added this token to their portfolios.
Once online players purchase BNB, they need only find a casino that supports this crypto. Many prefer BNB for its fast and secure transactions, low fees, and privacy.
How to Purchase Binance Coins
The process of buying BNB is similar to purchasing any other digital coin; however, we’ll break it down into steps to ensure you don’t miss anything.
- Set up an account at the Binance exchange or any other reputable exchange platform, such as Kraken, eToro, or Coinbase.
- Input the required information and complete the verification process.
- Top up your wallet with your local currency or any other crypto.
- Leverage the deposited funds to purchase Binance Coins.
- Once you make the purchase, transfer the tokens to a secure wallet (hardware or software). Additionally, enable 2FA and always back up your wallet.
Now it is time to use BNB to play online casino games. Here is how to start:
- Choose a licensed operator that accepts BNB.
- Register or log in if you already have an account.
- Select Binance Coin as your preferred banking method.
- Generate a unique BNB deposit address.
- Load your BNB wallet and initiate the transfer. Then, paste the deposit address, enter the desired amount, and click confirm.
- The funds will arrive in your player account as soon as the operator verifies the transaction.
Legality and Safety of Binance Casinos
Whether you can play on BNB gambling websites depends on your country’s gambling and cryptocurrency laws, but most countries do not have formal regulations regarding Binance casinos. Fortunately, Canadian residents are free to join gambling platforms accepting BNB. They can even buy/sell BNB and make transactions on exchanges, although digital assets are not considered legal tender and remain unregulated within Canadian borders.
Advantages of Playing at Binance Casinos
Using Binance Coin for gambling has many advantages, which is why it has built up a fantastic reputation among players.
Fast Transactions
Depositing and withdrawing using your Binance wallet is a swift process, and in most cases, you can expect instant transactions. This applies to deposits, but when it comes to withdrawals, you’ll probably have to wait between 15 minutes and 24 hours, depending on the chosen operator.
Improved Security and Privacy
Using BNB for gambling is safe because every transaction is encrypted and verified several times on the network, and can’t be altered, accessed, or deleted. Additionally, each involves a lengthy private key that is tough to decipher. Plus, no information other than the wallet data is involved in the process.
Crypto experts state that the Binance wallet is one of the safest methods for depositing and cashing out at an online casino and that using a credit card online poses a much greater risk.
Anonymous Usage
Thanks to the decentralized nature of cryptocurrencies, you can use BNB to make payments without an intermediary. Since financial institutions are not involved in digital currency transactions, you have the complete freedom to use the gambling site’s services anonymously. Plus, you don’t have to worry about austere policies and laws that apply to fiat currencies for gambling activities.
Low Fees
Unlike similar platforms, Binance charges low fees, around 0.10%, on most trades. Deposits to your chosen casino are typically fee-free, but there may be some transaction costs regarding withdrawals. Therefore, it is advisable to check if your casino imposes any charges before depositing using your Binance wallet.
Ability to Use One Account in Multiple Casinos
Another perk of Binance Coin is that you can use it at every casino that supports this cryptocurrency. All you need to do is go to the banking section, open your wallet address, and transfer funds.
Substantial Bonuses
Many Binance Coin casinos in Canada offer massive bonuses to players using cryptocurrencies. This helps you get more bang for your buck and increases your winning chances.
Impressive Game Variety
Crypto casinos boast massive game libraries, attracting a wide selection of new and experienced players. Plus, they regularly add new titles. Games range from video slots with amazing themes, mechanics, and bonus features to classic table games and live dealers.
How to Handle Binance Coin When Gambling
To make the most out of your BNB gambling adventure, you may want to keep these tips in mind. It is crucial to learn how to manage your BNB wallet properly so that it is quickly accessible whenever you need to place a bet or spin a few reels.
It is advisable to opt for a hardware wallet, as it grants an additional security layer by storing private keys away from threats. Note that you must also regularly update your software for security reasons.
We already mentioned that there are casino promotions tailored to BNB customers. Although they may look enticing, you should familiarize yourself with different bonuses and read the associated terms and conditions. Before deciding, consider the wagering requirements and determine whether they are reasonable.
Selecting a Casino That Accepts BNB
Although there are many top Binance casinos out there, not all of them are ideal for you. There are many factors to consider, including the following:
- List of restricted countries — Every online casino has a list of banned countries. So, what’s the point of joining a platform if your place of residence is on the blacklist? You may circumvent this obstacle using a VPN, but considering you must undergo a KYC procedure, it is not worth it. The best thing is to find a BNB site you can access from your region.
- Withdrawal and payout speed—Cashing out times do not depend on the Binance Coin but on the verification process and AML procedures, which vary from one casino to another. For accurate information, inspect the operator’s Banking section or consult the support team.
- Provably fair games — Unlike traditional gaming sites, BNB casinos feature games whose outcomes are transparent and can’t be manipulated thanks to blockchain technology.
- Reputation and other players’ opinions—Online casino players have first-hand knowledge about what a casino is like. Get their take on whether a specific BNB casino is worth your time and funds.
- Promotions and VIP programs — It is possible to find Binance Coin casinos offering welcome bonuses, free spins, cashback, reloads, and other promotions to crypto users. Many of them also have VIP programs offering bigger and better perks.
- Available games — Choosing the best BNB casino also involves knowing which games are available. Slots, roulette, blackjack, baccarat, and poker are just some of the titles you’ll find on a site that offers a variety of games.
Conclusion
With Binance Coin, players can enjoy fast, secure, and private online gaming in Canadian casinos. Also, you can get access to exclusive BNB casino bonuses and play a wider variety of games than you would at a traditional casino.
Nevertheless, like most cryptocurrencies, you should consider BNB’s volatility. BNB is also not yet accepted at every online casino. We did the research for you and singled out the best online gambling sites supporting BNB. Scroll up, take your pick, and enjoy your crypto gaming adventure.
FAQ
What is Binance Coin and why do online casinos use it?
Binance Coin (BNB) is Binance’s native cryptocurrency. In addition to being used on the Binance exchange to pay fees, BNB is also utilized in the gambling industry. Compared to traditional casino payment methods, BNB provides faster and cheaper deposits and withdrawals and many BNB casinos also offer special crypto promotions and rewards.
Do Canadian Casinos widely accept Binance Coins?
Although Binance Coin adoption is growing, it still has not reached the same levels as traditional methods or cryptos like BTC and ETH. Therefore, always make sure your chosen Canadian operator accepts BNB before joining.
What should I look for in a BNB casino?
The player should evaluate BNB casinos based on several factors, including licensing and regulation, overall reputation, and the length of time the casino has been in business. Additionally, they should check the casino’s software providers, encryption technology, customer support, and responsible gambling policies.
Are there any downsides to using BNB for online gambling?
Similarly to other cryptocurrencies, BNB’s value fluctuates. As a result, you may lose some money between the time you deposit and when you begin playing games. In addition, BNB requires more learning than traditional payment methods.
