Playing online poker is a great way to build your bankroll, especially during your time off. With apps making it easier to access poker sites on the go, all you have to worry about is having an internet connection on your device and enjoy the thrill of digital gambling. While there are plenty of online card rooms available giving you a ton of options in the way of deposits and withdrawals, those that accept Bitcoin have far more advantages than the ones that don’t.
Bitcoin has gained popularity in the last few years and its momentum may make a difference to online payments, not only in terms of goods and services, but also transactions related to playing poker. As a form of cryptocurrency, Bitcoin can be exchanged with anyone in the world, even when it comes to gambling.
In 2020, the Bitcoin poker industry has been seen to become really competitive with new sites cropping up on a daily basis. Because of this, online poker sites that take Bitcoin deposits offer high bonuses and plenty of advantages to attract customers. One of the biggest benefits to opting for the cryptocurrency transaction option is that they are fast. A poker site will still take time to authorize the withdrawal, and it might take anywhere between 10 minutes to 24 hours to upload onto your account. It is still faster than using flat currency, which might take up to 2 to 3 days.
Laws surrounding online poker are always subject to changing regulations. These laws extend to online payments in certain regions and states, which lowers the accessibility to your favorite poker rooms. Through Bitcoin, players should be able to bypass these regulations and gain access to many sites. Nowadays, some completely anonymous poker rooms are available where you can use cryptocurrency with ease, without having to worry about losing admission to digital gambling venues.
One of the most important and positive consequences to using Bitcoin is the increase in privacy. With the exchange of data constantly under surveillance, providing your monetary details while making deposits and withdrawals can be risky. Bitcoin transactions are anonymous and difficult to trace, so it’s perfect for poker players who do not want to reveal their names and addresses. Keeping your information protected while being able to earn money is a great feature on poker sites accepting Bitcoin.
Because cryptocurrency is decentralized digital cash, the transactions will cost less as compared to dealing with other forms of payment. As the values are transferred directly into online poker sites, the deposit fees are minimal than say, conducting a bank or a credit card transfer. Bitcoin only deducts mining fees, which is negligible in the big picture. Using an e-wallet might be another way of lowering transaction costs, but some e-wallets do not have the benefit of keeping your identity anonymous. Be careful of poker sites that might charge a high amount even with the option of Bitcoin. It’s possible that they are charging a fee which they are keeping for themselves.
The value of Bitcoin is constantly going up. If you have been a poker player for a while, and have stored your Bitcoin instead of withdrawing it, you will make a lot more money now than you would have if you had taken it out of the account instantly. In the same way, if you choose to play on sites accepting Bitcoin now, with its increasing value, your earnings will be worth much more if you decide to withdraw it in the future.
As Bitcoin is only recently being recognized in the online world, big poker sites have not yet adopted it. The contemporary nature of digital currency is seen mainly in up and coming poker rooms, that are trying to add, as explained before, ways of attracting customers. The bigger poker sites have an already established customer base consisting of seasoned players. In this context, the games will be much harder to beat. Newer sites that adopt cryptocurrency will have fewer players and thus the games will be much easier. This is perfect for amateur customers who are looking to test the waters of online gambling and not anything serious. Newer poker sites that accept Bitcoin can then also be excellent for expert players who are looking to practice their skills in an easier environment.
Chances are, that the online poker rooms that accept Bitcoin are “provably fair”. This means that the odds are in the favour of the users and that the rooms are not rigged to take your cash. Well reputed and established poker sites will never try to scam you, and those operating on cryptocurrency transactions as a selection will be even more trustworthy. Thanks to the blockchain technology of Bitcoin, an integrated algorithm makes sure that the sites are undeniably fair. Blockchain technology is the basis of digital currency and many online poker rooms use it to integrate Bitcoin as an option.
When you’re using Bitcoin to play poker, the bonuses and promotions offered extraordinarily change on most websites. A 100% match bonus is almost always guaranteed, and you will be sure to get at least 1BTC when you first sign in. Reload bonuses are also available to those using cryptocurrency.
It’s clear that there are many advantages to using Bitcoin to play real money poker online, but it takes a bit of time to collect it. A lot of research goes into understanding how Bitcoin works and how to mine it in the best possible ways. That being said, once you get comfortable with storing and collecting cryptocurrency, you should be able to reap the benefits of it for poker in no time.