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Canadian TRC20 Casinos: A Tether (USDT) How-To Guide

eCheckCasinos.ca TRC20 featured image for USDT crypto iGaming
🎯 TRC20 Quick Facts for Canadian Gamblers
  • 💸 Low fees – Often under $0.10 per transaction
  • Fast deposits – Typically confirmed in under 1 minute
  • 💳 Not supported by Newton or Shakepay – Use wallets like Trust or TronLink instead
  • 🏆 Best TRC20 CasinosJackpot City, Spin Casino, Ruby Fortune

Introduction: Why TRC20 Is Exploding in Canada

TRC20 is the latest buzzword in Reddit iGaming circles. Why does it keep popping up? If you ask us here at eCheckCasinos.ca, we’d say its versatility, low transaction costs, and fast processing speed have made it a popular deposit option at Canadian online casinos. It also offers a level of stability comparable to fiat deposit methods. The fact it’s also backed by massive cash reserves helps, as it makes players trust it more. And its value doesn’t fluctuate (obviously). As of 2025, Tether (USDT) has indeed reached an impressive market cap of over $140 billion. According to CoinMarketCap it is now the third-largest cryptocurrency by market capitalization.

This success has trickled down to iGaming. But just as adoption is picking up, access is also becoming more scarce. Why? Most Canadian-regulated exchanges delisted TRC20 USDT in 2023 following increased regulatory pressure. Today, it’s difficult for players to buy USDT directly on the TRON network through local platforms. For example, Shakepay and Newton don’t support USDT on any network — including TRC20.

This scarcity has made TRC20 a prized option — because players don’t just want USDT, they want this network specifically. It’s especially popular among users at Stake, Roobet, and Baytree casinos, where low fees and near-instant processing make all the difference. USDT on other networks (like ERC20 or even BEP20) simply doesn’t carry the same appeal.

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Jackpot City iMac eCheck

This article will break down your best TRC20 workarounds …

We’ll show why TRC20 USDT has become the preferred payment method for many Canadian gamblers — and break down your options for accessing it, even if it means a few extra steps. It’s not for nothing. Backed by over $100 billion in U.S. Treasury securities, Tether’s stability inspires confidence, especially in an industry where payment reliability isn’t always guaranteed. With Canadian regulations often murky, it’s no surprise that crypto users are turning to TRC20 casinos for faster, more predictable deposits.

What Is Tether (USDT)?

The USDT stablecoin (also known as Tether) is a cryptocurrency pegged to the US dollar. Unlike many digital coins, USDT is called a stablecoin because its value does not fluctuate uncontrollably. Being pegged to the value of the American dollar makes it a perfectly convenient option for online gambling.

The working principle is that every USDT in circulation has a corresponding dollar equivalent to maintain the 1:1 value ratio. This means that if the crypto market experiences sudden negative shifts, stablecoins like USDT will be able to withstand the shock.

Another advantage that Tether has over some cryptocurrencies is its versatility. It can exist and be operated across multiple blockchain networks, like Ethereum’s ERC20, Tron’s TRC20, and the BEP20 Binance Smart Chain.

Brief History of Tether

In July 2014, a trio of digital pioneers, Reeve Collins, Brock Pierce and Craig Sellars, founded a new cryptocurrency they called RealCoin. It was designed as a “stablecoin,” meaning quite simply that its value should remain stable. In order to give it a stable value, it had to be tethered, or linked, to the value of a fiat currency. They chose the United States Dollar (USD). To better clarify its purpose, they soon re-branded it Tether, taking on the abbreviation USDT.

One of the earliest stablecoins to appear in the crypto market, Tether was built on the Mastercoin (Omni) protocol; originally a Bitcoin stabilization protocol layer. Obviously, Bitcoin did not adopt this protocol. For Tether, it was a match from Heaven.

Tether soon became the first to pioneer a revolutionary concept that became known as a “fiat-collateralized” stablecoin. To this day, Tether is by far the world’s most popular stablecoin. But Tether did not grow to be so fashionable without some major hiccups.

Here’s a comparison between the two most common USDT blockchain networks.

TRC20 vs. ERC20 Tether Explained

Before making payments with USDT at Canadian online casinos, it’s important to differentiate between the TRC20 and ERC20 networks. The first is built on the TRON network, while the other operates within the Ethereum blockchain.

Although the value of USDT is the same across the board, individual network properties can affect the cost and speed of transactions and your overall payment experience. Now let’s explore what makes them different:

  • TRC20 – Unlike other USDT versions, TRC20 USDT is known for its fast processing speeds and low network fees. The TRON network is light and completes transactions in minutes, even during peak hours. It’s also cheap, as charges are typically a few cents worth. This affordability and efficiency make it more attractive to use for online casino payments.
  • ERC20 – The Ethereum blockchain uses smart contract functionalities. It’s a very secure network but it can be subject to uncomfortable congestion and high gas fees, especially at peak periods. Digital payments across the ERC20 network can cost you a few USDTs and still take time.

Considering the differences between the two networks, it’s easy to see why players prefer the TRC20 network for USDT payments. The drawbacks of ERC20 make it less practical for online casino gambling.

Imagine that your casino balance has run out and you need to claim a time-limited bonus; your best option will be to use the TRC20 network. Withdrawals also benefit from the speed and cost efficiency of the network, guaranteeing that you receive funds as quickly as possible.

Benefits of Using Tether for Online Gambling

As one of the most popular cryptocurrencies for online gambling today, Tether’s benefits are far-reaching. If you’re looking to wager on slots, classic table games, live dealers, or poker, here are reasons why you should deposit and play with USDT:

  • Stable value – The main benefit of Tether is that it’s a stablecoin. Its value is pegged to the American dollar, and unlike BTC or ETH, it won’t fluctuate just because a popular influencer posted a tweet. The predictability and stability of USDT’s value make it safe for online gambling and to hold long-term.
  • Pseudonymous transactions – Compared to traditional fiat banking methods, Tether payments can be initiated and completed without sharing your personal information. It’s not fully anonymous, but it gives you more privacy than credit/debit cards or direct bank transfers.
  • Lower barriers than credit cards or e-wallets – One downside with card payments and e-wallets is the verification requirements. Most online casinos will ask you to upload a photo of your credit card before linking it to your casino account. Payments with cards and e-wallets are also restricted to defined limits, which makes it harder to deposit or withdraw large amounts at a go. With Tether, you won’t experience these limitations.
  • Ideal for fast, global transfers – It’s hard to ignore the borderless nature of cryptocurrencies when making a case for USDT. Players in Canada are not subjected to financial restrictions, as Tether is not regulated by any central banking authority. As long as the casino is licensed and accepts Canadians, fast and low-cost USDT transactions can be processed at any time.

How TRC20 Compares to eCheck Payments

Even though TRC20 USDT has surged in popularity among crypto-savvy Canadians, traditional options like eCheck still dominate for many players. At eCheckCasinos.ca, we’ve long reviewed casinos that support electronic check payments — a method that pulls funds directly from your bank account without needing a credit card or crypto wallet.

So how do they compare?

  • eCheck deposits are widely available and require only basic banking info. They’re typically supported at brands like Spin Casino, Ruby Fortune, and Grizzly’s Quest, where you can register a verified account and fund it directly via electronic check.
  • Processing times for eCheck deposits are fast (usually instant or under 15 minutes), but withdrawals can take anywhere from 1 to 3 days, depending on the provider.
  • TRC20, by contrast, is almost always faster on cashouts — often under 1 hour once approved — but it requires a crypto wallet and may be harder to acquire locally.
  • Fees are a toss-up: eChecks are typically free or low-fee on the casino side, while TRC20 fees are minimal (often under $0.10 per transaction) but may depend on the wallet or swap platform used.
  • Privacy is another key difference. TRC20 offers pseudonymous payments, while eChecks are fully tied to your personal banking info.

If you’re already familiar with Interac or eCheck methods, USDT might seem complicated at first. But for players who prioritize speed, and cross-platform flexibility TRC20 is a compelling upgrade. Still, both options are secure when used on licensed, Canadian-facing casino sites.

Best Baytree Limited TRC20 USDT Casinos for Canadians

Players in Canada have a choice of online casinos that accept USDT TRC20 payments. However, we’ve taken time to test these platforms independently to ensure their services are unrivaled. If you want to enjoy cost-effective deposits and withdrawals with USDT, these are the best casinos to play at:

Jackpot City Now Accepts TRC20

Jackpot City Casino logo and branding

Jackpot City Casino is a premier destination for safe and secure online casino gambling in Canada. The platform has been online since 1998, making it one of the longest-surviving casinos in the industry. Along with Bitcoin, Ethereum, and Ripple, Jackpot City also accepts USDT payments on the TRC20 network.

  • Payout speed – Within 24 hours
  • Minimum deposit (cryptocurrencies) – $35
  • Maximum deposit (cryptocurrencies) – $300,000
  • Bonus eligibility – TRC20 USDT deposits are eligible for welcome bonuses.
  • Bonus amount – Up to $1600

Spin Casino

Spin Casino supports TRC20 payments

Since 2001, Spin Casino has offered some of the best casino games and progressive jackpots in Canada. The casino’s banking methods include cryptocurrencies like Litecoin, Ethereum, Bitcoin, and Tether. TRC20 USDT payments have one of the fastest turnaround times at Spin Casino, and you can bet directly on games with crypto.

  • Payout speed – Less than 24 hours
  • Minimum deposit (cryptocurrencies) – $25
  • Maximum deposit (cryptocurrencies) – Greater than $21,000,000
  • Bonus eligibility – TRC20 USDT deposits are eligible to claim the welcome bonus.
  • Bonus amount – Up to $1000

Ruby Fortune

Crypto-friendly gameplay at Ruby Fortune Casino

Ruby Fortune is fully licensed and endorsed by the independent regulator, eCOGRA. It is also historically one of the most honest casinos. This means you’ll enjoy over 450 fair games, encrypted crypto banking, and super-easy payments. The casino was launched by the Palace Group in 2003 and continues to offer its services to crypto gamers who want to transact with USDT on the TRC20 network.

  • Payout speed – 24 to 48 hours
  • Minimum deposit (cryptocurrencies) – $20
  • Maximum deposit (cryptocurrencies) – No limit
  • Bonus eligibility – TRC20 USDT deposits are eligible for the welcome bonus.
  • Bonus amount – Up to $750

Top-Rated Tether Casinos in Canada

Before signing up at an online casino to gamble with TRC20 USDT, it’s necessary to choose reliable and trusted operators. Fortunately, the three recommended casinos above are among the top-rated options in Canada. Here’s a table overview showing why they’re the best:

CasinoTRC20 SupportMobile CompatibilityLicensing
Jackpot CityDeposits and Withdrawals– Optimized mobile site
– Android and iOS apps
– Malta Gaming Authority (MGA)
– Kahnawake Gaming Commission
Ontario (AGCO/iGO)
Spin CasinoDeposits and Withdrawals– Optimized mobile website
– Android APK and iOS applications
– Malta Gaming Authority (MGA)
– Kahnawake Gaming Commission
Ontario (AGCO/iGO)
Ruby FortuneDeposits and Withdrawals– Optimized mobile site
– Android APK and iOS apps
– Malta Gaming Authority (MGA)
– Kahnawake Gaming Commission
Ontario (AGCO/iGO)

How Stake Stacks Up Against Baytree Casinos for TRC20

Stake takes a different approach from Baytree casinos like Jackpot City, Spin Casino, and Ruby Fortune. Those brands offer generous welcome bonuses and familiar interfaces, but they also apply certain withdrawal limits. For example, Ruby Fortune caps standard withdrawals at C$4,000 per week, while Jackpot City allows up to C$10,000 every 24 hours. Spin Casino has no fixed cap but typically limits e-Transfers to around C$3,000 per transaction.

Stake, by contrast, supports USDT on the TRC20 network with no maximum withdrawal limit, a flat 1 USDT fee, and payouts that often arrive within minutes once approved. There’s no traditional signup bonus, but deposits and withdrawals are fast and flexible, especially for crypto users. If you value structured promos and established brands, Baytree casinos (and sister brand Cadtree for Ontario) still hold a lot of weight. But if you’re after speed, fewer payout restrictions, Stake makes a strong case

Our Casino Selection Criteria

Our experts undertake an in-depth assessment of each USDT online casino we recommend for Canadian players. We use strict rating criteria to ensure that they’re crypto-friendly, safe, and efficient. These are what we consider when selecting TRC20 USDT online casinos:

  • Regulatory license – Our job on behalf of players is to guarantee the credibility of all USDT casinos we recommend. To do this, we only select operators that hold valid licenses from one or more recognizable gambling authorities. Our top regulators include the Malta Gaming Authority (MGA), Ontario (AGCO/iGO), and Kahnawake Gaming Commission.
  • Wallet compatibility – A top-quality Tether casino must support a variety of crypto wallets that can process USDT on the TRC20 network. The most common options for Canadians we always check for are TronLink, Binance, and Trust Wallet.
  • TRC20 deposit/withdrawal success rateFailed transactions are a nightmare and always cause players discomfort. This is why we make Tether payments at each casino to test the success rate. To instill confidence in the operator’s support for TRC20 USDT, there should be zero failed transactions, fee accuracy, and quick confirmation times.
  • Speed and reliability of withdrawals – Fast payouts are important to players, and is one of the most important things we check before choosing a USDT casino. The cash-out speeds should be impressive, taking less than 24 hours and no more than 48 hours in case the operator needs to verify winnings.

Licensing and Regulation

The online gambling landscape in Canada is a bit hazy if you look at it from the federal level. Currently, each province has the authority to regulate and administer online gambling services to interested players within its borders. This implies that there are no explicit federal laws that prohibit gambling by Canadian citizens.

This legal grey area has been exploited by offshore-based operators, especially in provinces with no official legislation. In Ontario, for instance, the Alcohol and Gaming Commission (AGCO), in partnership with iGaming Ontario, regulates all online gambling in the province. Only operators with a provincial license can provide their services to players in ON.

Other provinces, such as Quebec and British Columbia, run government-owned gambling platforms but have not instituted official regulatory limitations on offshore casinos. Players in these locations can therefore register, play, and use cryptocurrencies on sites that have foreign licenses.

At the same time, cryptocurrencies are not banned in Canada. As long as the operator is licensed by well-known offshore regulators like the MGA or Curaçao GCB, players can transact legally with Tether. The exception is in provinces like Ontario, where the iGO and AGCO have placed restrictions on gambling with cryptocurrencies.

How to Deposit with TRC20 USDT

Example of a crypto deposit screen at an online casino

Funding your online casino account with TRC20 USDT will take you less than five minutes from start to finish. The process is easy, and thanks to the speed of the TRON blockchain, your deposit will be confirmed in under 1 minute.

Shown below is a short step-by-step guide to help you deposit USDT at Canadian casinos:

TronLink wallet interface for managing TRC20 USDT
  • Open a TRON-compatible wallet – Before anything else, you’ll need a crypto wallet that can hold USDT tokens. Some of the most reliable options are TronLink, Trust Wallet, and Binance Wallet. Simply download and install your preferred wallet and complete the registration process.
  • Acquire USDT on TRC20 – Load your wallet with USDT by purchasing tokens via a crypto exchange or peer-to-peer transaction. Whichever one you choose, ensure you select TRC20 as the network to use for processing your Tether. Although some major exchanges (like Coinbase and Kraken) have stopped offering USDT trading, Canadians still have reliable options. Most players buy BTC or ETH on licensed Canadian platforms like Newton or Shakepay, move the funds to a private wallet, and swap to TRC20 USDT using a DEX or third-party converter. You can also trade USDT directly through platforms like Bitfinex or KuCoin.
  • Copy the casino’s TRC20 deposit address – Now, log in to your casino account and visit the cashier section. On the list of payment methods, choose Tether as your deposit option and copy the unique TRC20 USDT address provided by the operator.
  • Confirm the transaction and wait for confirmation – Go back to your wallet app and paste the TRC20 USDT address into the field for recipients. Double-check the details to avoid sending to the wrong address, enter the amount you wish to deposit, and then click “Confirm” or “Send”. Your payment will be confirmed within a minute and will be reflected in your casino balance shortly after.

Setting Up a Tether Wallet

Part of what makes crypto banking safe is the use of wallets. These digital safes are like a bank’s vault, except that they’re internet-based and protected by passwords, keys, and advanced encryption. When setting up a Tether wallet, choosing a trusted option will save you from many problems.

Trust Wallet used for storing and sending USDT

From our experience, TronLink and Trust Wallet offer the best experience in terms of security. When you open your USDT wallet on these apps, you’ll be given a recovery phrase with 12 or 24 words. Copy this phrase and find an offline location to store it privately. You should not share it with anyone or store it digitally unless it’s in an encrypted database.

The next thing you should do after setting up your wallet account is to ensure that the USDT token is operating on the TRON network. You can identify this by looking for the code “TRC20” and selecting it. It’s important to choose the right network when sending or receiving funds from an online casino. Using the wrong network can result in the loss of your funds, and unlike fiat banking, crypto payments cannot be reversed.

Transaction Times and Processing Windows

TRC20 USDT is a popular choice among Canadians because of its speed compared to blockchain networks like ERC20. Tether deposits to your online casino account on TRC20 are nearly instant. This is because the TRON blockchain is designed to support fast block confirmations in less than 1 minute.

Withdrawals, on the other hand, can take anywhere from 10 minutes to an hour after the casino has completed its internal verification. These verifications are responsible for the 24-hour payout time experienced at several USDT casinos.

Although the ERC20 network offers the same stability for USDT transactions, it has a few drawbacks. The most noticeable of these are the slower confirmation times (10–30 minutes) and high gas fees, which can be from $5 to $50.

Withdrawing with TRC20 USDT

Like deposits, cashing out your USDT winnings is easy. Here’s a step-by-step outline to show you how it’s done:

  1. Log in to your account and go to the cashier section.
  2. You may be required to complete KYC verification to continue with your withdrawal. If so, upload the requested documents and continue.
  3. Next, select the “Withdrawal” option and choose USDT (TRC20) as your payout method.
  4. Enter your TRC20 wallet address and the USDT amount you want to withdraw, which must be above the casino’s minimum limit.
  5. Check the details of your request, including any fees, then confirm the transaction.
  6. After confirmation, the casino will process your withdrawal and send your funds to the desired wallet.

Verification Requirements

Some crypto-friendly casinos may require you to complete a mandatory know-your-customer (KYC) verification process before facilitating withdrawals. If you’re playing on one of such platforms, these are the documents you may need to upload:

  • A government-issued identification (passport or driver’s license).
  • Proof of physical home address (utility bill or bank statement).

Advantages of TRC20 USDT for Withdrawals

Processing your payments with TRC20 USDT at online casinos is a standout option for the following reasons:

  • Lower transaction fees – Unlike the ERC20 network, with gas fees between $10 and $50, TRC20 USDT transactions can cost as low as $0.01.
  • Faster processing times – TRC20 USDT eliminates the delays associated with traditional payment systems like Interac (1–3 hours) or bank transfers (up to 3 days).
  • Stable value benefits – There’s less risk when banking with USDT compared to BTC or ETH because it’s pegged to the American dollar.

USDT Casino Bonuses and Promotions

Banking with TRC20 USDT at Canadian casinos not only allows faster and cheaper transactions but also gives you access to bonuses and promotions. Some operators offer crypto-specific welcome bonuses to newcomers, while others restrict players from claiming bonuses with USDT deposits.

Exclusive Tether Deposit Bonuses

Although it’s not yet widespread, some operators are beginning to offer exclusive bonuses for USDT deposits. These promotions are designed for players who choose crypto payment methods over fiat options.

Crypto deposit specific bonuses are sometimes available

Other crypto-specific promotions are also regularly featured to satisfy crypto players. Some of the bonuses that Canadian players can benefit from when depositing with USDT include:

Crypto bonus wheel
  • Crypto bonus wheel – At Jackpot City, you can claim prizes every 24 hours by spinning the bonus wheel. Prizes include free spins, bonus credits, loyalty points, and reduced time until the next spin.
  • USDT cashback – The operator refunds a part of all your lost wagers if you satisfy the terms of the promotion. This can be done daily, weekly, or monthly, depending on the casino’s policy.
  • Crypto reload bonuses – Reloads are offered to existing players who don’t qualify for a welcome bonus anymore. They match your deposits with free cash up to a certain amount.
  • Free spins – Slots are the most popular casino game in Canada, and operators regularly distribute free spins to allow customers to play them for free. You can get bonus spins as part of the welcome bonus or as a reward for other promotions.

Wagering Requirements

Before claiming bonuses at TRC20 USDT online casinos, it’s important to check the wagering requirements. For example, the crypto welcome bonuses at Jackpot City, Spin Casino, and Ruby Fortune each have a 35x wagering requirement attached, which must be fulfilled within a specific timeframe.

What this means is that before you can withdraw any winnings from playing with the bonus funds, you’ll need to wager the amount 30 or 40 times on eligible games. Some operators will apply the WR only to the bonus, while others include both the bonus and deposit in their terms.

To ensure you adhere to the rules, always read the bonus T&Cs before accepting a bonus offer. The good thing is that crypto bonuses aren’t necessarily harder to clear than fiat bonuses. They have the same wagering requirements, general terms, and validity periods.

Responsible Gambling When Using Tether

Seeing how USDT transactions are fast and often irreversible, you’ll need to be extra careful when making payments. It helps if you choose a casino that offers responsible gambling tools that give you control over your time and spending. Some effective tips that will help you gamble responsibly with Tether are:

  • Set deposit limits – One of the best ways to maintain control is to set a deposit limit to restrict your spending. You can do this in your casino account on gambling sites that offer RG tools.
  • Be cautious with instant withdrawal systems – Having quick access to your USDT winnings may cause you to reinvest it for more gambling. You can avoid this by taking a break after winning or by sending your winnings to a separate wallet.
  • Use budgeting tools – Wallet apps like Trust Wallet and TronLink allow you to monitor transaction history. This helps you keep an eye on your USDT spending so you know when you’re going over your limit. Most licensed casinos offer tools like wager limits and loss limits to restrict your spending.

Safe Casino Practices

Outside the responsible gambling features available at trusted TRC20 USDT casinos, you can implement some safe practices yourself to protect your funds. Below are some of our recommendations:

  1. Register at regulated casinos – The most important step to take before choosing a USDT casino is to check its licensing. It should have a valid license that is verifiable to prove it adheres to gambling regulations in a particular jurisdiction. 
  • Double-check addresses – Before sending or withdrawing funds, always verify the TRC20 USDT wallet address. A payment error will result in irretrievable loss, as cryptocurrencies cannot be traced or reversed.
  • Avoid blacklisted casinos used for phishing – Visit gambling sites that operate with valid SSL certificates and verified URLs. This will prevent you from being attacked by digital hackers and phishers on spoofed casino and wallet platforms.
  • Enable two-factor authentication (2FA) – Most wallets and top casinos offer additional security via the 2FA tool. Ensure you activate this security feature to prevent unauthorized access to your casino account and/or USDT wallet.

Regulatory Framework

At the federal level, Canada does not ban the use of USDT for gambling. Although you’re permitted to gamble with USDT, FINTRAC monitors all financial activity and ensures compliance with AML and KYC standards.

For this reason, online casinos that accept TRC20 USDT payments must still adhere to AML protocols. As a player, you may be asked to submit an ID, proof of address, or other documentation before making large withdrawals.

Tax Implications

The Canada Revenue Agency (CRA) considers cryptocurrencies as commodities and not legal tender. However, gambling winnings are generally considered a windfall and are not taxable income. The exception to this is when gambling is conducted as a business for profit. In this situation, if you’re a professional gambler, then you’re required to declare your business income and be liable to taxation.

Regardless of your qualification for taxing, it’s still important to maintain a detailed record of your USDT transactions. More importantly, you should always track conversions when you’re cashing out because the CRA requires taxpayers to keep records like:

  • Transaction dates.
  • Amounts of USDT sent or received.
  • Value in Canadian dollars at the time of each transaction
  • Transaction IDs and wallet addresses.
  • Receipts or payment confirmations from exchanges or wallets.

Future of Crypto Gambling

The use of TRC20 USDT for gambling is expected to grow as cryptocurrencies gain more acceptance. Tether’s low fees and quick speeds have made it a top payment choice with crypto users. As restricted provinces like Ontario begin to introduce better legislation for crypto gambling, more operators will start supporting cryptocurrencies. For those with foreign licenses that already accept USDT payments, there will be increased support for native wallets and on-chain tools.

Did you Know ? An End to Years of Bad Press Points to Bright Future for USDT

For years, Tether was scrutinized for failing to divulge fiancial audits that would prove it had adequate reserves to back the value of USDT. Up until November 2018, the company maintained its crypto was backed 100% by USD, yet repeatedly failed to disclose its banking relationships. This didn’t sit well with the crypto community, already plagued by issues of trust in digital monetization.

During the course of a multi-year legal proceeding, the company finally came clean. No, they were not backed by 100% USD. As it turns out, that was a lie. As of March 2019, according to an update to Tether’s disclosure statement, we now know the truth. USDT’s backing consists of 100% reserves, including fiat currency, cash equivalents, and/or assets and receivable loans.

It took Tether’s founders a while to prove that statement; largely due to having cut off relations with their previous auditing firm. A February 2021 Independent Accountant’s Report confirms Tether’s Consolidate Reserves Report was accurate in stating: “The groups consolidated assets exceed its consolidated liabilities.”

The following month, Tether and Bitfinex settled their 2-1/2 year legal battle with the New York Attorney General’s Office. The matter revolved around Tether loaning Bitfinex US$850 million. Details of the transaction were not disclosed, leading customers to believe Tether no longer had the funds to back their USDT holdings. According to the details of the settlement, Tether was never behind in funds. It did, however, lack sufficient transparency in the deal; something the company promises to deliver in all future dealings.

Of worthy note, Tether did not lose marketability throughout the proceedings. In fact, during that 2-1/2 year period, market capitalization rose from US$2 billion to US$34 billion; a testament to the faith of its customers, and bellwether to the company’s future success.

Final Thoughts

Of all the different fiat and crypto currencies you could use to gamble online, there’s really only one good reason to choose Tether. As a stablecoin, the value of USDT is as reliably steady as any major fit currency (i.e. USD). Just because you enjoy gambling on casino games, doesn’t mean you should have to gamble on the value of the currency you intend to gamble with. Some of you might like the additional risk, but it’s not for everyone.

Several online casinos already support Tether transactions to satisfy customers who value speed, convenience, and reliability. Still, safe USDT online gambling has a lot to do with the sites you choose. It’s essential to select only licensed casinos and play smart to avoid developing any problems with your gambling.

TRC20 is by far the better choice for online casinos: transactions usually cost less than $0.01 and clear in under a minute. ERC20, on the other hand, often has gas fees over $10 and much longer confirmation times. Most casinos accepting USDT now recommend or require TRC20 for both deposits and withdrawals. If you want fast, cheap payments with no delays, TRC20 is the network you want.

To convert ERC20 USDT to TRC20, first send your ERC20 tokens to a multi-chain wallet like MetaMask, or Trust Wallet. From there, use a cross-chain swap service such as SimpleSwap, ChangeNOW, SideShift, or AllBridge to convert your USDT. These platforms let you input your TRC20 wallet address directly and will handle the network bridging in the background. Once the transaction completes, your TRC20 USDT will arrive in your TRON-compatible wallet like TronLink or Trust Wallet. Make sure you have a small amount of TRX in that wallet to cover TRC20 network fees when making a deposit at your casino.

Stake is accessible to most of Canada under a legal grey zone—it’s not locally licensed, but Canadians outside Ontario can play freely. In Ontario, however, Stake.com is geo-blocked due to provincial rules, and players there must wait for a potential Stake.ca launch under iGaming Ontario. Some Ontarians bypass this with VPNs, though that carries risk. For everyone else in Canada, Stake operates similarly to any offshore casino.

Yes — Baytree casinos such as Jackpot City, Spin Casino, and Ruby Fortune now support direct crypto deposits, including USDT on the TRC20 network. These payments don’t go through a third-party; instead, players receive a TRC20 address directly from the cashier (via Get Orbital, their on-ramp). Minimum deposits start at around $20–$35 depending on the brand, and payouts are typically processed within 24 to 48 hours. Baytree brands still apply standard verification checks, but their crypto support has grown significantly in 2025 and now rivals that of fully crypto-native casinos like Stake.

You likely don’t have TRX (Tron) in your wallet to pay network fees. Even if you have USDT TRC20, you’ll need a small amount of TRX (usually 5–20 TRX) to cover gas when sending. This is a common issue for new users. The fix: buy a bit of TRX and send it to the same wallet. Once added, you’ll be able to move or withdraw your USDT without any problem.

In most cases, yes. Baytree brands like Jackpot City allow crypto deposits and still award the regular welcome bonus (e.g. 100% match up to $1,600), assuming you meet the minimum deposit in CAD equivalent. Just make sure to check the T&Cs, as some third-party crypto gateways may be excluded. Stake, on the other hand, does not offer a standard deposit bonus—but offers ongoing rakeback, reloads, and giveaways for active players.

Gambling winnings in Canada are not taxed if you’re a recreational player. That includes USDT or any other crypto winnings. However, if you hold onto the crypto and it gains value before you sell, the gain is subject to capital gains tax. So: win 1,000 USDT and cash it out right away = no tax. Hold it until it’s worth more = you pay tax on the profit. Always track your cost basis and keep clean records.

Stake and Roobet are fast and flexible with TRC20, offering no withdrawal caps and near‑instant payouts. But Baytree brands like Spin Casino, Jackpot City, and Ruby Fortune now support TRC20 too — with 24 h cashouts, welcome bonuses, and trusted MGA/Kahnawake licenses. For Canadians who want crypto speed without giving up structure, Baytree is closing the gap fast

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