Why Should You Choose Binance Coin Betting Sites?
By now, you’ve probably heard a lot of hype about BNB sports betting websites and want to know if it is justified.
We’re here to tell you that they’re superior to their traditional counterparts in many ways.
Let’s check out a few arguments in their favor.
Protect your privacy
There remains a stigma around the use of sports betting sites.
Banks, in particular, are against the idea of betting on one of these sites.
Fiat usage is a bad idea if you want secrecy as banks can see what you’re doing.
Banks will even tear up your loan application if you’re caught using a betting site.
With Binance Coin, you get the anonymity you crave.
These transactions take place away from the prying eyes of the banking system.
The outcome is sports betting site usage with complete freedom.
Crypto > fiat
Fiat currency is old-fashioned and no longer suitable for the world we live in.
Central banks worldwide continue to print paper money, which decreases its worth.
This means the $1,000 fiat in your account today will be worth less in real terms five years from now.
To quote Henry Ford: “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before morning.”
In contrast, the most popular cryptocurrencies are in a growth phase, so they are likely to increase in value.
This means the value of the Binance Coin you win on a betting website could rise over time.
Fiat currency had its day; now, we must embrace BNB, the future of money.
Improved security
The cryptocurrency market does have issues with people hacking and stealing money.
Yet, most lawbreaking occurs on the digital asset exchanges.
Indeed, there are no reports of any major crimes committed against Binance Coin sports betting platform users.
BNB transactions are encrypted and verified multiple times on the network.
Also, the private keys used in transfers are long and exceedingly hard to decode.
Most digital currency experts suggest Binance Coin is safer than using a credit card.
More enjoyable UX
Overall, the many benefits offered by Binance Coin betting sites result in a better user experience than with standard betting sites.
This is how these new sites give you an improved UX:
- Rapid transaction times so you’re not waiting to fund your account
- Lower transaction fees
- Additional bonuses when wagering with BNB
- Up to date web design
- Increased limits on deposits and withdrawals
- A smaller chance of having your account closed for winning
As a gambler, you won’t regret switching to BNB betting sites.
Main Cryptos Overview
Overall, you’ll find thousands of cryptocurrencies with new ones seemingly created each day.
Despite the vast number on offer, betting sites usually only allow you to use a small fraction.
Below, we feature four digital currencies commonly used on betting sites that authorize crypto transactions.
Binance Coin
Binance Coin is one of the leading crypto tokens issued by the Binance exchange.
The currency was initially working on the Ethereum blockchain with ERC standard before it switched to the Binance network.
It has the symbol BNB and players can utilize it on reputable sports betting platforms.
Binance coin has different applications in today’s market and you can use it for betting transactions, financial and online services, entertainment activities, and more.
As one of the major cryptos, BNB has an average market cap of $56 billion.
Ethereum
Ethereum is the second biggest digital coin, well ahead of the rest of the field.
Created by Gavin Wood and Vitalik Buterin and released in July 2015, ETH has experienced a rapid increase in value as its benefits become clear.
If you want lightning-quick deposits or withdrawals, Ethereum is ideal; its transaction time is 12 seconds!
Some crypto experts believe ETH could one day surpass Bitcoin as the number one currency, so you have to decide if it is worth buying now.
Bitcoin
Created in January 2009 by an individual or group called Satoshi Nakamoto, Bitcoin is the digital currency that started the revolution.
It is the most valuable coin, having exceeded the trillion-dollar market cap mark.
As it remains the #1 digital coin, virtually every crypto sports betting site readily accepts Bitcoin.
However, its enormous value means you’ll have to pay a significant amount of money to buy a decent amount of BTC.
Yet if you want security, Bitcoin is a great choice; no one has ever hacked its network.
Litecoin
Charlie Lee created Litecoin in October 2011; it’s a peer-to-peer digital currency that’s similar to Bitcoin in technical details.
Yet, it ultimately gained a reputation as a useful digital coin in its own right, leading to a surge in its market cap.
Among its benefits include quick transactions and low fees.
We recommend reading our reviews to see if the betting site of your choice accepts it.
Picking The Most Outstanding Binance Coin Betting Sites In 2024
As a Canadian, you are spoiled for choice when it comes to Binance Coin betting sites.
Nonetheless, it’s important to avoid rushing your decision.
Otherwise, you might regret your choice.
Fortunately for you, here’s an overview of the criteria to consider when searching for a suitable site.
Reputation
Few things matter in your search more than locating Binance Coin betting sites in Canada with positive reputations.
If the BNB sports betting platform keeps your Binance Coins and refuses to release the funds, you are powerless to stop it.
Crypto transactions can’t be reversed once finalized, so a shady site can do what it likes because there is no oversight.
This is why you should read our exclusive reviews, where we outline whether Binance Coin betting sites deserve your trust.
Ultimately, you need to know that the Binance Coin betting site in Canada in question:
- Has a spotless record
- Lets you access your money
- Cares about its customers
Deposits & withdrawals
The rapid nature of BNB transactions is one of its biggest plus points.
However, not every Binance Coin sports betting company excels in this department and may also have some limitations.
Before you choose any BNB betting site, here are three things to consider relating to its transactions:
- How quickly does the site process deposits & withdrawals?
- How many payment methods are available? (Such as BTC, ETH, LTC, or DOGE)
- What is the maximum amount you can deposit and withdraw?
Looking for the best Binance Coin Betting Sites? Read our guide
It is simple to get information about BNB sports betting platforms online.
The problem is that much of this content contains factual errors.
One of the main reasons is that these sites don’t bother performing detailed analysis.
We like to do things right, which is why we thoroughly examine sports betting platforms.
It takes many hours of play to ensure we get enough information.
We do this because we believe it is the only way to create the industry’s best review content.
We have already reviewed hundreds of sports betting websites and plan to cover as many as possible.
Variety & quality of what’s on offer
When you’re using a betting site, variety matters.
Regardless of all the other features on sports betting sites with BNB, if they offer limited choices, it won’t take long for you to get bored.
Consequently, go through a site thoroughly to ensure there’s plenty of things to generate your interest and keep it.
Additionally, take into account the general quality of the site.
Playing outdated games or using standard sports markets can get boring after a while, no matter the quantity.
Furthermore, focus on sites that provide the best odds and huge jackpots to get value for your BNB.
Bonuses & Other Benefits
Typically, sports betting sites offer bonuses as a means of bringing in new customers.
Here are a few of the bonuses you can expect to find:
- Welcome bonus
- Special bonuses if you deposit/withdraw using Binance Coin
- VIP packages
- No deposit bonuses
- Reload bonuses
Before you proceed, make sure you check out the T’s and C’s of each bonus.
They might seem like a good deal, but in reality, there are usually stipulations.
For instance, you must bet through your welcome bonus deposit 30+ times before withdrawing it.
Customer helpline
You also want a site that solves customer complaints quickly and effectively.
By themselves, good features and easy deposits aren’t guaranteed to offer a good user experience.
When Binance Coin betting sites ignore their customers, they are a waste of your time and money.
If you use a sports betting platform with rude or unresponsive customer support, it is easy to get annoyed.
Conversely, trustworthy BNB sports betting platforms act fast and decisively when a customer has a problem.
Such companies help solve issues efficiently, so you can enjoy the site.
Here’s Why Sports Bettors Should Select Binance Coin Betting Sites
Industry experts know that Canada Binance Coin betting sites are changing the game, and traditional bookmakers are worried.
Outdated fiat accepting sports betting platforms can’t compete with the benefits offered by their new opponents.
Available sports and markets
If you use the top-rated Binance Coin sports betting companies, you’ll quickly determine practically no difference between the sports available compared to standard sports betting websites.
It doesn’t matter if you love tennis, swimming, or badminton; crypto accepting sites will not disappoint.
What you’ll also find is a more substantial number of markets than the much-hyped ‘soft’ bookies.
A ‘soft’ bookmaker is for the occasional punter instead of ‘sharp’ bookies that focus on experts.
In any case, you might find a better range of long odds markets on BNB sports betting websites.
The above is a must if you’re happy to take risks in return for a large possible profit.
Electronic sports
BNB sports betting sites now allow you to bet crypto on e-sports, which are every bit as competitive as traditional sports.
Video gaming superstars from around the globe engage in various tournaments with major cash prizes up for grabs.
If you’re interested in eSoccer, Apex, and SCII markets, a majority of BNB betting sites have you covered.
Like traditional sports, succeeding at eSports betting involves detailed research.
If you can spare the time, you might earn money from the markets offered by Binance Coin betting websites.
Good odds with fewer limitations
If you’re a savvy punter, soft betting sites have likely restricted your bets or perhaps suspended you altogether.
Sadly, there is no legislation to stop sports betting websites from banning intelligent users.
An account restriction means you can only bet with cents on a market, leaving you no choice but to register with a new betting website.
With BNB betting websites, you get a fresh start with no restrictions and are less likely to have limitations placed on your account.
Soft bookies regularly cut odds drastically, a source of great irritation to punters.
With Binance Coin betting sites in Canada, the odds tend to move less rapidly, increasing the opportunity of seeing value odds on an event.
Crypto And Sports Betting Sites In Canada: What Is Their Legal Status?
Your ability to enjoy BNB betting websites boils down to your nation’s laws regarding both wagering and cryptocurrencies.
Several countries don’t allow one or the other, and a few outlaw both.
Attempting to use Binance Coin sports betting sites when they are illegal in your country is a big mistake.
Should the site choose to ban you and keep your money, there’s nothing you can do about it.
Fortunately, Canadian residents are free to use BNB sports betting sites!
Is it legal to use BNB in Canada?
Yes, it is completely legal to buy and sell BNB on exchanges and make purchases with it.
Despite the easy availability of digital assets, they are not considered legal tender.
As a result, the Canadian Revenue Agency (CRA) won’t let you use it to pay your taxes.
Please note that the Agency expects you to pay tax on cryptocurrency earnings.
Thus, you must declare all profit and loss from crypto transactions on your tax returns.
Digital assets are not regulated in Canada, even though the exchanges that sell them are.
Therefore, many businesses remain unwilling to accept them as payment without the protection of a central authority.
While BNB sports betting platforms acknowledge the danger, they see it as a trade-off for healthier profits and greater visibility.
Is it legal for a Canadian to Bet online?
Yes, online wagering is perfectly legal in Canada.
However, you must be at least 19 years of age.
Except in Quebec, Alberta, and Manitoba, all of which allow you to bet when you’re 18.
Furthermore, you keep the money you win from betting online as it isn’t taxed unless you’re deemed a professional.
As far as sports betting websites are concerned, it is illegal to operate on Canadian soil without provincial government licensing or ownership.
Yet, an estimated 1,000 unlicensed offshore companies continue to serve Canadian customers.
Where can I buy BNB?
Most people get their Binance Coin from specific exchanges.
Bear in mind these exchanges are regulated like money services businesses in Canada.
This means they obey a detailed set of rules, including strict laws surrounding due diligence, reporting, and more.
In June 2020, new legislation mandated that digital exchanges had to register with FinTRAC.
This is Canada’s government agency in charge of handling financial crimes.
Overall, purchasing and using Binance Coin in Canada comes with numerous protections.
C-218: A game-changing law
Canada’s betting rules come from the Criminal Law Amendment Act of 1968-69.
In 1985, the government allowed each province to regulate its gaming laws and determine if land-based casinos were permitted.
This piece of legislation led to a massive increase in the number of casinos throughout Canada.
This particular law hasn’t changed since, so provinces began allowing online gaming as we entered the Internet age.
An odd quirk in the law limiting betting activity was only recently changed.
Up until August 2021, it was technically illegal to bet on a single game.
Yet, the Canadian government passed C-218, a law that finally allows the practice of single-game betting.