Cryptocurrency has established itself as an important alternative to fiat currency in the poker world in recent years. More and more established poker sites as well as a number of specialty bitcoin poker sites have introduced them.
If you are thinking of getting into the bitcoin poker game, now is the perfect time.
Cryptocurrency has established itself as an important alternative to fiat currency in the poker world in recent years. More and more established poker sites as well as a number of specialty Bitcoin poker sites have introduced them.
I have compiled a list of the best bitcoin poker sites you can share with you today. But initially, let's make sure we all understand exactly what Bitcoin is, and advantages of using bitcoin to play online poker.
What is bitcoin?
For those who don't know, Bitcoin is a decentralized virtual currency known as cryptocurrency. When people hear “decentralization” and “currency” in the same sentence, they are naturally worried. How can a currency be safe if no one guarantees it? The answer is blockchain technology.
Blockchain is a list of records that is constantly being updated. These records are collected in a series of blocks linked by encryption. The blockchain can be used to record data, but it is most often used to record transactions, much like the bitcoin blockchain. Even though anyone can see the blockchain, nothing can change it: only the blockchain itself can do it. This makes Bitcoin safe.
If you're still not sure, there's a lot of information you can read online about how Bitcoin works.
Benefits of Using Bitcoin
Switching to Bitcoin for online poker offers a number of advantages:
- Much faster download speed. Most poker rooms take between 3 and 5 days to process fiat currency withdrawals. Bitcoin, in contrast, can be withdrawn from your poker account to your Bitcoin wallet in less than 24 hours (and sometimes instantly).
- You can play anonymously. This varies by location, but generally does not include poker rooms that also accept fiat currency.
- You may be able to pay fewer rakes or get more rakes back by switching to bitcoin poker rooms. It depends on which sites you are currently using and which sites you are visiting. Therefore, if scratching is important to you, you may want to do some research.
If those advantages are enough to convince you to make a change, check out our comprehensive guide to bitcoin poker.
We'll start with the basics.
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The first thing you require to do to get in progress with Bitcoin is download a Bitcoin wallet. Bitcoin wallet is like a bank account to store your bitcoins without a bank. There are a variety of portfolios to choose from, each with its own advantages.
Once you have downloaded the wallet, the next thing you will want to do is fill it with some bitcoins. Just as there are many different portfolios to choose from, there are many different Bitcoin exchanges where you can buy and sell bitcoin.
After you buy Bitcoin on one of these exchanges, you can send it to your wallet. If you want to learn more, check out this in-depth guide on how to buy Bitcoin.
Caution: Coinbase, the most accepted cryptocurrency exchange, doesn't like processing transactions to or from gambling sites. Therefore, deposits or withdrawals from your poker account must be made through your wallet and not directly through Coinbase. However, don't let Coinbase annoy you: it's still a great place to buy and sell Bitcoin. If you are interested in learning more about Coinbase, cryptocurrency news site cryptopokergroup has done a comprehensive review of Coinbase which will hopefully answer all your questions.
Best bitcoin poker site
Now that you have Bitcoin, it's time to choose a poker site to deposit with.
Given that you are just starting out with Bitcoin, it is best to stick to trusted websites so you don't run the risk of being scammed. Here is a list of some of the most popular Bitcoin poker sites today:
Ignition. Popular US friendly poker room which now accepts bitcoins. One of the biggest advantages is the fast-paced Zone Poker format. If you're from the US and missed PokerStars Zoom, Ignition is the site for you.
Cryptopokergroup. Aims to revolutionize online poker and empower poker players around the world. Blockchain technology opens up unlimited potential for profitability, security and trustworthiness. Play Bitcoin & Ethereum Today!
Nitrogen. A reputable Bitcoin-only sports betting and casino that allows you to play poker anonymously. It's also browser-based so you can play from any computer or mobile device without downloading any software.
FortuneJack. FortuneJack is another browser-based bitcoin casino and has solid promotions as well as a clean in-game user interface.
Map of America space. A well-known US friendly poker room that has a large player base and now accepts bitcoins. If you want games to work 24/7, this is the page for you.
Of course, these are only a handful of poker sites where you can accept Bitcoin. There are many other options.
The most important thing - and this is generally a good rule of thumb when using Bitcoin - is to do your research before depositing Bitcoin anywhere. Just focus on playing good bitcoin poker!