It is no longer news that cryptocurrency has come to stay in the online gambling industry. More importantly, this payment method competes with conventional payment methods, and many online casinos now support it. Since privacy, safety, speed, and other benefits come with digital currency payment methods, it is now becoming users’ favorite in Canada.
While many players might be overwhelmed with the crypto payment process, we have many crypto-friendly casinos with payment options that make these processes seamless. Coinspaid is an excellent example.
Coinspaid works as a digital currency payment gateway for most Canadian casinos. While punters enjoy quick and safe funding, Coinspaid also serves as a crypto wallet, making holding and withdrawing virtual currencies from crypto casinos viable. Would you love to know more about Coinspaid and how you can use it? You’re reading the right article. Our expert team has prepared everything you need about this payment method.
What is Coinspaid?
Coinspaid is an online digital currency payment channel designed to facilitate the sales and purchase of virtual currency. They also help businesses and individuals maintain cryptocurrency wallets that support multiple virtual currencies. With this platform, funding cryptocurrency and withdrawal is now easy, fast, and safe.
The Estonia firm commenced operation in 2014 and is part of Dream Finance OU, a prominent firm in the country. Coinspaid also partnered with SoftSwiss to pioneer the creation of a crypto-friendly casino. Although Coinpaid builds wallets only for businesses initially, introducing private wallets for individuals makes it easier for online casino players to fund and withdraw.
Aside from being an accessible payment channel for crypto casino lovers, Coinspaid provides exchange services and hot wallets. The firm has extended to the extent of having over €5.5 billion worth as of 2021.
Creating a Coinspaid Account
Coinspaid has many benefits; to enjoy them, you must have an account with the firm. Our team has examined the account creation process and found it easy and quick. Follow the steps below to complete your new Coinspaid account registration.
- Access Coinspaid platform
Go to the Coinspaid website and click the 3-bar on the top right corner to access the menu. Click wallets on the menu, and a new page will appear. This page will show you the link to download the Coinspaid app.
- Install the Coinspaid App
You have two links to click depending on your phone’s operating system; one leads to the Apple Store, and the other to Google Play. Install the app from your app store and launch the application.
- Complete your account creation.
Coinspaid KYC (Know Your Customer) Verification
Coinspaid will send you a mail to activate your wallet to verify your account. Click the link in the mail to complete the verification. You will also need to confirm your details by entering your details and uploading your ID to back the information up. Further, you must complete a 2-Factor authentication via Google Authenticator. You can now fund your Coinspaid wallet to facilitate deposits on your crypto-friendly account.
Direct Crypto Deposits on Canadian Crypto Casinos with Coinspaid Compatibility
You can start enjoying seamless deposit and withdrawal of your preferred digital currency now that you have completed your registration. This section of our article will show steps to fund your crypto betting account using Coinspaid.
- Find a Reliable, Crypto-friendly Casino
Finding a Canadian online casino is essential. Since many casinos now accept digital assets gambling in the nation, choose a reliable casino. You can read reviews about the site and check licenses to know the casinos’ credibility. Create an account on the casino and verify the account.
- Log in and go to the Cashier section.
Using your login details, gain access to your new account. Now that you are in navigate to the Cashier/Bank Section and open it. Click on the deposit/fund tab to access the list of payment options available at the casino.
- Pick your preferred digital currency.
Since some casinos support Fiat currencies and Cryptocurrencies, you must set your currency to crypto. Also, choose your preferred digital currency and indicate the amount of virtual assets you want to fund.
- Select the Coinspaid payment option.
Locate the Coinspaid icon and tap it to open it. Once the portal opens, you’ll be presented with a digital currency address and a QR code. Copy the address.
- Complete your transaction
Access your Coinspaid account and transfer the digital currency amount to the copied account from your wallet balance. Ensure you crosscheck before confirming the transaction. Your account will be credited upon the successful transaction, and you can start wagering.
Note that withdrawals also take the same procedure. You must pick “Withdrawal” in the Cashier section, transfer from your casino balance to your private Coinspaid private wallet address, and confirm the transaction.
Pros and Cons of Purchasing Cryptocurrency Via Coinspaid
In the table below, check out what we love about buying digital currencies with Coinspaid.
- Over 30 digital currencies supported
- Secured and reputable
- Allows you to convert cryptocurrency to fiat money
- Excellent customer support
- No cost for transactions
- Still not available in many Canadian casinos
- ID verification needed
Best Coinspaid Online Casinos
Coinspaid presents digital currency enthusiasts who love gambling with the chance of easily depositing and withdrawing virtual assets. The players can also keep their crypto in the online platform’s hot wallet, making it easier to access. We have discussed how to create a wallet with Coinspaid and how you can deposit digital assets into your account. However, since many crypto-friendly casinos are gradually accepting the payment method, you may need help finding casinos that support Coinspaid. However, we have listed the best Coinspaid above. What else do you need? Start wagering your crypto right away.
Yes, Coinpaid is legal in Canada, and you can deposit using this payment method. Additionally, it supports withdrawals.
Transactions via Coinspaid are free, but your preferred casino may charge a small fee.
Yes. Coinspaid is secure and reputable.