Bitcoin Poker Guide
If you're a serious online poker player, you have probably heard about Bitcoin Poker. Bitcoin, or BTC, is a digital currency that has taken the online gambling industry, and the world, by storm.
This new currency has slowly been gaining momentum since it was first launched in 2009, and these days you would be hard-pressed to come across a top online poker site that does not offer Bitcoin as a payment option.
Where to Play?
The list of places that accept Bitcoin grows every day, with more and more businesses becoming open to this new and improved way of purchasing goods and services over the Internet.
In fact, Bitcoin has revolutionized the way we do things on the Internet, including playing poker. Bitcoin can be traded between people around the world, including chips at online poker sites.
Online poker with Bitcoin offers fast gaming action safely and privately from the comfort of your home. Poker has always been a highly competitive and popular game, and using Bitcoin just adds to its appeal. Online poker is a game of skill, patience and strategy, making it a good option for serious players, but easy enough for new players to enjoy.
Add Bitcoin to the mix, and you have a rewarding gaming experience at some of the top poker sites in the world.
Recommended Bitcoin Poker Sites
Our recommended list of Bitcoin Poker sites has been thoroughly reviewed and tested to ensure they meet our strict criteria. We check every aspect of the website including gaming options, security, licensing, certification, trust, reliability, customer support, usability and of course, banking options.
With this information, we compile a list of what we think is the best websites at which to play Bitcoin Poker.
What is Bitcoin?
Bitcoin is a form of cryptocurrency that can be sold and traded between individuals all over the world. An unknown person under the alias of Satoshi Nakamoto created it in 2009. When it was first introduced to the market, many vendors steered clear of this new and untested digital currency.
Since then, the currency has gained momentum in many industries and sectors, and is now one of the most in-demand cryptocurrencies in the world. Many sectors, including online gambling sites, have accepted Bitcoin as a valuable and reliable banking option.
How it All Works?
While the concept of Bitcoin may seem complex to the uninitiated, it is basically a form of digital currency that is created using mathematical computations and generated by millions of users around the world.
Bitcoins are stored in digital 'wallets' on an individual's computer or in the cloud. Bitcoins can be used to purchase goods and services over the Internet, and because it is not operated by any bank, it is completely anonymous, fast and reliable, with no additional fees involved.
This makes it a very popular option within the gambling industry and eliminates many of the disadvantages of using traditional methods, including transactional fees and extensive waiting periods for withdrawals.
How Bitcoin Poker Works?
Bitcoins can be acquired in numerous ways, with the most common being buying them from certain websites, receiving them as a form of payment or receiving them through a process called 'mining.' Anybody can become a Bitcoin miner by simply installing the application on your computer.
Once a Bitcoin is mined, an electronic signature is added, which means the currency permanently exists in the network for distribution and trading.
Bitcoin Poker Deposits and Withdrawals
To make use of Bitcoin for deposits and withdrawals at poker sites, you will need a Bitcoin wallet, which is similar to eWallets like PayPal. The difference between using a Bitcoin wallet and an eWallet is that the latter is connected to a bank account.
Also, Bitcoin wallets are generally considered more secure, as there has never been an incident of frozen accounts or unexpected chargebacks as is common with traditional banks. This wallet needs to exist on your hard drive with its own address, although you won't have to provide any other personal or financial information, guaranteeing anonymity.
Once you have gone through the process of creating a wallet and purchasing your Bitcoins, you must find a suitable Bitcoin poker site for your needs. You will then need to visit the cashier/banking page of the website after registration and choose Bitcoin as a payment option.
Advantages to Playing Bitcoin Poker
While Bitcoin continues to grow in popularity and value, more and more online poker sites are accepting this currency as a legitimate deposit and withdrawal method. That being said, there are many advantages to using Bitcoin at your favourite online poker site.
Transactions take place instantly, so no more waiting around for your funds to become available. As Bitcoin uses a peer-to-peer system to exchange with other people, you can send funds directly to any recipient without needing the assistance of a bank.
Because the currency is decentralised, you do not have to provide any personal information except for your email address and Bitcoin address, making it an excellent option for those wary about sharing your sensitive data online.
Bitcoin's operational costs are cheaper, which means that many poker rooms have a lower rake charge, allowing players to keep a greater portion of all wins when playing Bitcoin poker. This means that using Bitcoin is not only the safe, more secure option, but it also allows you to save and win more money, making Bitcoin poker one of the most lucrative games available on the Internet.
Poker has always been a popular option for serious bettors and novice gamers alike, and thanks to the introduction of Bitcoin, these games are becoming more accessible than ever before. Bitcoin poker offers safe and affordable gaming in a secure environment.
The anonymity aspect allows players to gamble in comfort and complete privacy, while the fact that there is no third party involvement from any banks means no waiting times and no transaction fees.
Bitcoin poker is quickly becoming a leading option for gamblers all over the world, with many poker sites developing their services to meet this demand.