Understanding Poker Betting With Bitcoin

The rise in cryptocurrency acceptance was a milestone in human history. One of the main areas that is well represented is poker.

Crypto is now an accepted way to bet poker. Therefore, more light will be shed here on how cryptocurrency can be used to bet poker with a special focus on Bitcoin poker.

This is a welcome development for various reasons. It is extremely fast, secure, reliable and ensures user anonymity. Its adaptive usability extends to the world of gambling where you can use it to fund an online gaming account and start playing live.

How to Use Bitcoin and Other Cryptocurrencies in Poker

To use Bitcoin or any other poker cryptocurrency, you do not need to have experience or proficiency in it. It is a simple process as long as you are really committed to it. All you have to do is get some cryptocurrency and transfer it to an online poker site that accepts crypto as a deposit method. It is worth noting that when it comes to crypto poker betting, Bitcoin has an advantage over other cryptocurrencies. It is the most accepted poker site and many poker sites accept it only out of all the cryptocurrencies available. This is also why there is a certain level of focus on this post.

While some poker sites only accept it as currency, some of the mainstream sites accept Bitcoin as a way to deposit and then change your balance to fiat currency to play on their poker site. Anyway, when it comes to crypto poker betting, the complicated part is getting the cryptocurrency as you will have to go to the exchange and you will also get a crypto wallet.

Register an account in the stock exchange

If you don’t have crypto in your wallet or exchange account, the first and most important thing for you is to get some coins. This means that you will have to register an account with the exchange. You can also decide to increase the amount through any of the different deposit methods on the exchange. If you can’t do any of these things, another option is to tell a friend to send you some cryptocurrency by giving them your crypto address.

Buy cryptocurrency

Once your exchange account is verified, the next thing for you is to start buying cryptocurrencies, especially Bitcoin and possibly Ethereum and Litecoin as well. If you want to top up your account in EUR or USD, you can do it easily in many cases by bank transfer, debit card or credit card deposit.

Open a cryptocurrency wallet

In order to be able to bet cryptocurrency on poker, another thing that is required of you is a cryptocurrency wallet. In general, there are different types of cryptocurrency wallets available. However, the best suited for online poker is the online wallet. This is because online portfolios are free to create. Moreover, it can be easily accessed from your desktop or using a mobile device.

Transfer cryptocurrency to wallet

After creating the wallet, the next thing is to transfer some cryptocurrencies to it. For example, if it’s Bitcoin, select the correct amount of Bitcoin you want to send from the exchange, then copy and paste your wallet address into the exchange transfer form. Make sure the transaction is confirmed by using two-factor authentication.

Register online poker site and transfer cryptocurrency to your online poker account

To do this, simply go to any online poker room that accepts crypto deposits and fill in your details. If you have already created a crypto poker account, you do not need this.

After registering with an online poker site, simply go to the cashier of your account and choose a crypto deposit (usually bitcoin). Enter the deposit amount you want, copy the Bitcoin address of the poker site, and paste it into the submission form of your Bitcoin wallet. Type in the amount you intend to send and click on the “Send” link.

Poker sites that accept cryptocurrencies (especially Bitcoin)

Here is a list of some notable poker sites that allow you to gamble with Bitcoin:

  • Jiming tiger
  • Bovada
  • ignition
  • GGPoker
  • Americas Cardroom
  • Juicy Stakes
  • intertops
  • Club Seals
  • BetOnline

Is betting poker with cryptocurrency safe?

After all is said and done, one of the main considerations that should never be overlooked is safety concerns. It has continued to be a source of debate about whether cryptocurrencies, especially Bitcoin, are as safe as they are famous. One thing is that Bitcoin and other cryptocurrencies are very volatile. This means that there is a possibility that the value will be changed.

Despite some accompanying risks, cryptocurrencies also have their advantages. We briefly highlighted some of them earlier. Cryptocurrencies are not associated with third parties such as governments and financial institutions. It also ensures anonymity of its users among other things. The one thing that probably stands out more from a positive perspective regarding Bitcoin is its continued global acceptance. In the near future, we may have a situation where Bitcoin and other cryptocurrencies are the rules when it comes to financial transactions. Whatever the case may be, all the pros and cons applicable to cryptocurrencies also apply to betting on cryptocurrencies as it is just another dimension in the way cryptocurrencies are used.

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