Online Poker Bitcoin
Will Bitcoin Save USA Poker Players?
Bitcoin Poker, at first, can sound complicated, but it is just refers to an online poker site that uses Bitcoin for players to make deposits and receive cash outs. Online poker has been around for over 20 years, and the biggest hurdle for players that entire time, has been depositing to play and cashing out winnings in an easy, fast and trusted. Bitcoin has many benefits beyond poker so it’s definitely worth picking up regardless of whether you end up using it for online poker. Alternative Cryptocurrencies to Use While bitcoin might be the most popular form of crypto gambling, there are plenty of other cryptocurrency options that enable users to play poker using payment options that.
Bitcoin poker sites have become more and more popular, although they still have low player traffic and, well, the fact that you need to Bitcoin to play on them. It's not a comforting idea to play poker with Bitcoins when the currency's value in US dollars might sink any day.
Furthermore, Bitcoin does nothing to local state laws, many of which prohibit its residents from participating in games 'contingent on chance' (even if only partially), or 'games played with cards,' or directly prohibiting 'poker' or 'online gambling.'
So technically, in many states, you'd still be breaking the law if you played US online poker with Bitcoins.
The benefit of using Bitcoins to play internet poker is that you don't have to use USA banks to handle the transactions, which solves one huge problem for all US poker players with the exception of those living in states where online poker is legal and regulated (namely Delaware, Nevada or New Jersey): USA banks are prohibited from processing money transfers to and from online gambling sites.
How USA Players Deposit Without Bitcoin
The common way for USA players to transfer money to poker sites that accept USA players is to either use a combination of credit/debit/gift cards and check withdrawals or using a money transfer service like Western Union or MoneyGram®.
While card deposits are a fast and an easy way to deposit money to USA poker sites - especially with VISA-branded cards, which get accepted more often than Mastercard or Amex cards - using a check withdrawal takes weeks, perhaps even months in some cases.
So you get the money into your player account fast but you have to wait for a long time to get it back, except for sites like Ignition and True Poker that return your money in 1-2 weeks.
And you won't be able to convert checks into cash if the bank finds out that the money came from an online poker site.
Money transfer services require you to go to a live location to send and pick-up the money, although the transfer times are acceptable: you can deposit the money to your account within a day (even hours, perhaps) even receive the money back within a few days.
Is it easier to use Bitcoin for Online Poker?
Using Bitcoins is easy once you've purchased them; certainly it would be easier to play US online poker with Bitcoins than it's to play with current deposit and withdrawal methods that are available to US-citizens.
For example, here's how a well-known Bitcoin casino called Satoshi Dice explains how you can fund your gambling bets with Bitcoin:
The SatoshiBet Bitcoin game operates with zero confirmations, meaning the time it takes for you to send a transaction and receive your winnings is near-instant.
You place a bet by sending bitcoins to one of the addresses listed in the bet options table. SatoshiDice sees this, evaluates win or lose and generates a return transaction.www.satoshibet.com
But the problem with Bitcoins lies in the currency rate: it's a currency that just a few days ago lost 25% of its value in dollars. I would much rather use the banking methods described above than worry about my currency losing a significant portion of its value overnight.
Poker Sites that Accept Bitcoin
Note: I have never used any of these online poker sites that accept Bitcoin. This is not a list of 'proven' Bitcoin poker sites - in fact, just about the only thing I know about these sites is that they accept both Bitcoin and USA players and have some player traffic as well.
| Site | Average Traffic | Accepts USA? |
|---|---|---|
| Seals with Clubs | 110 | Yes |
| Switch Poker | 16 | Yes |
Online Poker That Takes Bitcoin
The state of Bitcoin online poker sites are still taking baby steps, but Seals with Clubs gets OK traffic and even peaks at 200+ players.
Conclusion
In case playing online poker is legal where you live, I recommend playing at a site like Ignition or Carbon Poker instead of Bitcoin poker rooms simply because you get to play with US dollars, at sites with strong track records and you'll have a lot of opponents.
- Betting Type
Thanks to Bitcoin and other similar cryptocurrencies, the world of online Poker has been grandly transformed. Low fees, fast pacing, and the simplicity of making deposits and withdrawals are some of the options that Bitcoin online poker sites offer.
Online Poker has always had its cash problems, mostly because it had to rely on fiduciary currencies, as well as bank and credit card companies. This is where Bitcoin simplifies things – all you need is a Bitcoin address and you are ready to play!
Why should you choose Bitcoin?
There are a number of reasons why you should opt for Bitcoin or other cryptocurrencies to play online Poker, but really it is up to the players’ demands. Here are some of the most wanted ones:
- Simplicity to use
- Low costs
- Anonymity
- Easy deposits and withdrawals
- Safety and credibility
- Bonuses
Most players like how fast they can start playing with Bitcoin. Deposits take minutes, while the withdrawals take up to two days to be received. It also costs way less, in comparison to the fees provided by credit card companies.
The Basics of playing Poker with Bitcoin
The first thing you should know about playing Bitcoin poker: You do not use your actual coins to play.
Most sites convert Bitcoin to US dollars immediately after they enter into the account of the player. There is a bunch of reasons why the sites do this, but mostly it is to offer the players some breathing space because of the instability of cryptocurrencies.
Bitcoin has a reputation for being unpredictable and it is possible that you might lose a large chunk of its worth while playing. This is why sites stick to converting to USD – this way the players’ wins are far more secured financially. The only time you need to be careful with the swing of Bitcoin value is when you are making a withdrawal.
What features do you need to look for?
Here, you should follow the same principles as you would when choosing a traditional online poker site. Here are some elements that you need to put into consideration:
- Modern Software
- Players with different skill levels
- Bonuses
- Credibility
- Safety
- Tournaments
As for Bitcoin, you need to check whether the site accepts cryptocurrencies for both deposits and withdrawals; though most sites accept up to 50 different cryptocurrencies. Online Poker sites urge the players to make deposits with Bitcoin, because they can end up getting various kinds of sign-up bonuses!
Getting Started to Play
If you have decided to play Bitcoin poker, there are a couple of steps you need to complete in order to start playing.
Crypto Poker Site
First of all, you need to get properly introduced to the world of Bitcoin and other cryptocurrencies alike – there is plenty of information online you can check out. Once you are done, you need to get some Bitcoin. This step is pretty easy, but it varies depending on the location where you are. You can acquire the coins either from a Bitcoin exchange or a Bitcoin ATM.
You also need to get a digital wallet – you can do this online, either through PC or mobile, or you can opt for a flash drive to be more secure.
Best Bitcoin Poker Sites
After you do all of these steps, choose a Poker site and start playing! Some of our recommendations are:
Are there any alternatives?
It is believed that Bitcoin is the favorite cryptocurrency used for online gambling, but there are plenty of other options as well. These are quite similar to Bitcoin and also offer options alike to it. Some of the most popular ones are Ethereum, Litecoin, EOS and Dash.