Cryptocurrencies
Cryptocurrencies use in Online Poker (Bitcoin, Ethereum, USDT, etc.)
All Canadian Poker sites support cryptocurrency in some form, reflecting a growing trend in online poker. CoinPoker is entirely crypto-based, requiring deposits in coins like BTC, ETH, USDT, MATIC, or their own token (CHP). Games are effectively played using crypto funds on that platform. Stake.com is also a crypto-native platform, accepting over 20 different cryptocurrencies (including popular ones like Bitcoin, Ether, Litecoin, Dogecoin, Ripple, Tether, and more). Stake even provides a built-in service (MoonPay) to let users buy crypto with fiat methods if needed.
GGPoker and WPT Global have both added crypto options in recent years: GGPoker’s cashier has a “Coin Payment” option where players can deposit Bitcoin or select altcoins (and GGPoker lists BTC, ETH, USDT, USDC as supported). WPT Global similarly supports a range of coins – beyond just BTC/ETH, they also take coins like Litecoin, Tron, Cardano, USDT, USDC, etc., available via crypto payment processors. JackPoker uses the CoinsPaid system to handle crypto; players can deposit and withdraw in Bitcoin, Ethereum, Litecoin, even Dogecoin – a unique inclusion that shows JackPoker’s broad approach. .
GGPoker and WPT Global have both added crypto options in recent years: GGPoker’s cashier has a “Coin Payment” option where players can deposit Bitcoin or select altcoins (and GGPoker lists BTC, ETH, USDT, USDC as supported). WPT Global similarly supports a range of coins – beyond just BTC/ETH, they also take coins like Litecoin, Tron, Cardano, USDT, USDC, etc., available via crypto payment processors. JackPoker uses the CoinsPaid system to handle crypto; players can deposit and withdraw in Bitcoin, Ethereum, Litecoin, even Dogecoin – a unique inclusion that shows JackPoker’s broad approach. .
For Canadians, crypto can be a great option if you are already comfortable with digital currencies. Deposits are typically fast (depending on blockchain confirmation times) and limits are high – for example, Stake has no maximum deposit or withdrawal when using crypto, just minimum amounts per coin. All crypto transactions require a compatible wallet; some platforms (CoinPoker, Stake) integrate services to help convert your CAD to crypto if you don’t have any. It’s important to note that crypto deposits/withdrawals are irreversible – entering the correct wallet address is crucial (WPT Global warns that withdrawals sent to the wrong crypto address may be lost permanently). Most sites do not charge internal fees on crypto transactions; however, network fees or small conversion spreads may apply. For instance, WPT Global doesn’t charge a fee itself, but using certain crypto networks resulted in ~1-2% differences (likely due to processor fees or exchange rates).
Privacy is a plus: you aren’t sharing bank details, and crypto can offer anonymity – though remember that regulated sites still know your identity from KYC.
Volatility is a factor too: using stablecoins like USDT/USDC can mitigate the risk of crypto price swings if you plan to hold your bankroll in the site for a while.
Overall, crypto is fast, secure, and increasingly popular, especially on CoinPoker and Stake which cater to crypto users by design.
Pros and Cons
Privacy is a plus: you aren’t sharing bank details, and crypto can offer anonymity – though remember that regulated sites still know your identity from KYC.
Volatility is a factor too: using stablecoins like USDT/USDC can mitigate the risk of crypto price swings if you plan to hold your bankroll in the site for a while.
Overall, crypto is fast, secure, and increasingly popular, especially on CoinPoker and Stake which cater to crypto users by design.
Pros and Cons
Pros:
- Fast deposits and withdrawals – once the transaction is confirmed on the blockchain, funds are available (this can be within minutes for many cryptos, or a few hours at most). Some sites process crypto cashouts very quickly; Stake, for example, often delivers withdrawals in under 30 minutes.
- High limits and no banking barriers – crypto allows large transfers with no intervention (Stake imposes no max withdrawal in crypto, and WPT Global’s crypto deposit limits are high as well).
- Fees are generally low: poker sites typically don’t add fees on top of the network’s fee (Stake only passes along a small blockchain fee, e.g. ~0.00007 BTC for a Bitcoin withdrawal).
- Privacy is better than fiat methods – no bank or card statements. Security of the transaction is strong (cryptographic), and you hold your funds in your own wallet.
- Additionally, methods like stablecoins (USDT/USDC) remove the worry of currency conversion for Canadians (you can deposit 100 CAD worth of USDT and it stays 100 USD pegged, for example).
- Crypto is also inherently mobile-friendly – you can scan QR codes or copy addresses from a mobile wallet app to send funds on the go.
Cons:
- Steep learning curve for those new to crypto – you need to set up a digital wallet or use an exchange, manage private keys, etc.
- Mistakes can be costly: sending to the wrong address or wrong coin network can result in permanent loss of funds.
- The value of cryptocurrencies can be volatile – if you keep your bankroll in Bitcoin, its value in CAD could swing day to day (unless using stablecoins or immediately converting on deposit).
- Converting fiat to crypto can incur fees; Canadians who buy crypto via services like MoonPay or exchanges might pay 2-5% in fees/spread, which is a consideration if you don’t already hold crypto.
- There’s also sometimes an extra verification step for large crypto withdrawals (to ensure the address belongs to you).
- Finally, crypto transactions aren’t reversible, so there’s no recourse if something goes wrong (unlike disputing a credit card charge).
