Canadian Dollars Bingo Sites

History of CAD

CAD is the currency abbreviation or symbol used to denote the Canadian dollar. One CAD consists of 100 cents, and it is considered a benchmark currency, implying that many central banks worldwide keep Canadian dollars as a reserve currency.

This currency has been in use since 1858, while, in 1871, the federal government passed the Uniform Currency Act that substituted the multiple currencies used by various provinces with one Canadian dollar. In the past, CAD was pegged to the U.S. dollar, while it also floated freely. The last time it was pegged was from 1962 to 1970, as part of the specified exchange rate system of the Bretton Woods Agreement, after which it was permitted to change according to the forex market. Since then, it has floated along with all main currencies around the world.

CAD is regarded as a hard currency, meaning that it seems to be relatively stable because it comes from both economically and politically stable nation. Presently, banknotes are officially issued in denominations of 5 CAD, 10 CAD, 20 CAD, 50 CAD, and 100 CAD, while six denominations circulate as coins – 5 cents, 10 cents, 25 cents, 50 cents, 1 CAD, and 2 CAD.

Safe Casino Deposit Methods that Accept CAD

Once you find the best Canadian casinos, you need to check whether they offer a convenient way to make a deposit and start playing your favorite games. You nееd tо bе аwаrе thаt ѕоmе рауmеnt mеthоdѕ mау nоt bе аvаіlаblе tо Саnаdіаn рlауеrѕ аnd ѕоmе саѕіnоѕ mау аdd сеrtаіn rеѕtrісtіоnѕ. These are some of the most popular depositing and withdrawal methods for CAD.

  • Interac - When you think of the Interac payment method, you should think about Visa, since the first one is equivalent to the second. This is a popular system among Canadians, as it earned a reputation as a safe method very quickly. To use Interac, you do not have to have a separate account, just choose a casino, select Interac as a payment method, and confirm the transaction. High-rollers especially love using Interac because fees are fixed and don't depend on how much money you want to transfer.
  • iDebit - Another secure payment method meant for Canadian players is iDebit, which main advantage is the fact that it is speedy to use, while it does not require players to create an account in the system. However, if they opt for creating an account, they will save a couple of dollars in fees. Moreover, all transactions аrе рrоtесtеd ѕіnсе thе оrgаnіzаtіоn bеhіnd thіѕ brаnd аgrееѕ tо thе Fаіr Сrеdіt Rероrtіng Асt.
  • InstaDebit - InstaDebit is a platform similar to iDebit, but it is also older than it, so it probably has more fans. This is definitely one of the most popular online gambling payment methods in Canada, offering simplicity by allowing players to make deposits in a couple of clicks. This is an e-wallet that acts like PayPal, offering you an option to either transfer money directly from your bank account or use it as an e-wallet to make instant deposits. Although you will need to pay some fees, they are small.
  • EcoPayz - This option has been available to users for more than twenty years, through which it has gathered a massive user base. This is why numerous casinos offer this payment method, and many gamblers prefer to use it. This is an e-wallet that also offers a card. This globally accepted method prides itself on the security it provides, while it also delivers all the functionalities of a standard e-wallet and the capacity to withdraw funds using a prepaid debit card.
  • PaysafeCard - PaysafeCard is another of the safest prepaid payment methods. All you need to make an online deposit is a 16-digit pin, which makes this option extremely easy to use, and players will make instant deposits with no fees involved. The brаnd іѕ ореrаtіng іn оvеr 43 соuntrіеѕ аnd it is рrоvіdіng іtѕ аѕtоnіѕhіng ѕеrvісе аѕ а fаntаѕtіс рrераіd рауmеnt ѕоlutіоn. The first step is to buy a voucher and then enter the given code. When the casino checks its validation, you will see the credits on your account. This is one of the cheapest methods since there are no fees involved.

Gambling Restrictions for CAD Casinos

Although gambling used to be considered illegal in Canada, the country's laws have certainly evolved through the years. However, Canada consists of several provinces, so there are discrepancies in dealing with gambling-related issues. When it comes to players from Canada, they are accepted in numerous online casinos, many of which accept CAD.

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