Bitcoin Poker – How It Works?

 The following articles will help you know how to use cryptocurrencies in online gambling.

 Poker is one of the most interesting casino games of all times, from land-based casinos to nowadays more popular online casinos. We are witnessing the rapidly increasing popularity of online gaming. Along with online gaming, different online payment methods are introduced in every online casino.

Traditional land-based casinos do not offer these fast and convenient payment methods for deposits and withdrawals as online casinos do, and that is their great disadvantage. Accepting cryptocurrencies as payment methods makes online casinos even more popular for lots of reasons.

Cryptocurrency transactions are very simple, fast, convenient, safe and anonymous. Players easily get used to game limits, bets and pot values presented in cryptocurrency instead of fiat currency. Cryptocurrencies do not involve third parties as the money goes from one e-wallet directly to another, no bank transfers, banking fees, or even conversion rates. It is one and the same currency all over the world. One of the most popular ones is bitcoin.

In this article bitcoin poker will be introduced step by step to show how simple it is to play in a bitcoin poker casino. And if you would like to play completely anonymous and private poker, you should know that when playing with bitcoins you do not provide any personal information such as credit card number or bank account. All you need to do is link your bitcoin wallet address to your account and voila!

Purchase your first bitcoins

To be able to deposit and play in a bitcoin poker casino, you first have to get some bitcoins. So, you will have to sign up for a crypto exchange to be able to buy some bitcoins. Create your crypto exchange account and put some fiat currency into your exchange account to be able to flip it for bitcoin. It is faster to use your debit card or credit card but these transactions will come with a fee. After you put some fiat money to your exchange account, you can make bitcoin purchases. Use crypto exchanges only to buy your first bitcoins, and after that create your bitcoin wallet, because you can make casino deposits from the bitcoin wallet only. Some exchanges even offer their version of an e-wallet, but people usually prefer to create their own, as they find them to be safer. 

Choose your bitcoin wallet

E-wallet keeps your bitcoins safe. You can choose between online, mobile, desktop and hardware wallets. Online wallets are free and a very good option if you intend to use your wallet only for online poker. Online and desktop wallets are connected to the internet and because of the possibility of being hacked, the mobile version is the most popular as it appears to be the safest of the three. However, hardware wallets (USB sticks) are probably the safest option, but the mobile version is far more convenient.

Transfer bitcoins to your personal wallet

After you buy your first bitcoins, you’re done with the exchanges, and it is time to transfer your assets to your personal wallet. The majority of wallets and exchanges will guide you through the transfer, so it will be very easy to complete.  Choose the amount you will send to your wallet address, copy the address into the exchange transfer form, and use two-factor authentication to confirm the transaction. Or simply scan the QR code with an app, so that you do not have to copy and paste to a transfer form – the QR code will take care of this for you.

Get started with your bitcoin poker

After all these steps are done, you have to choose an online poker site and sign up, choose a strong password, and confirm the sign-up through the email that the site sends you. You will have to download the game onto your device to be able to play. With some sites you will first download the game and then create an account and sign up, or you should first sign up and create an account and then download the game. Most of the sites will offer you the option to explore the games, so you can play around before making a deposit.

It is good to sign up to the sites that have better sign up offers. When you click the link to download the game, you will obtain access to some advantages like a sign-up bonus.

You do not have to stay with just one game software provider, but you can instead easily have a number of poker accounts and different poker software solutions.

Make your first deposit in bitcoin poker

Poker games start with making a deposit, so if you would like to play a game, it is time to make your first deposit. The good thing is that the easiest way to make a deposit on an online poker site is by using bitcoin or another cryptocurrency. The process is simple:

• Navigate to deposit tab
• Select bitcoin (or another cryptocurrency)
• Type in the amount you intend to deposit
• Copy the site’s bitcoin address, or even better scan it on your phone
• Open your bitcoin wallet
• In your bitcoin wallet select “send”
• Paste the site’s bitcoin address
• Type in the amount you’re about to pay
• Click “send” and wait for 10-15 minutes, after which you can start playing

Once you get familiar with the process, and once you have made your deposit in bitcoin, you can go directly to open your bitcoin wallet step and deposit bitcoins. Soon you’ll realize that this is the easiest way to make a deposit.

Request withdrawal in bitcoin

This is a very simple process. All you have to do is visit the cashier in the poker room, enter your recipient bitcoin wallet address, wait until the poker room verifies that your cash out is legitimate, and then the funds will be sent.

Generally, there are no fees charged on the deposits and withdrawals, the only fees are paid for the network, incurred on the blockchain for the transactions you make.

Once you requested bitcoin withdrawal it cannot be canceled, because there is no reversal mechanism when paying with cryptocurrency.

There are deposit and withdrawal limits that go from $5 to $20 in bitcoin equivalent. They are not the same for all the bitcoin sites.

Bitcoin has the reputation of extremely safe and secure technology. It does not require any personal info when making transactions, just your bitcoin wallet address.