The pros of playing online poker with bitcoin

Bitcoin has come a long way from its launch in January 2009, and has emerged to be unarguably the best alternate means of making and receiving online payments today. Being the most popular crypto currency, it can be exchanged anywhere in the world, even on gambling websites.

Year 2020 is expected to witness major growth in bitcoin poker industry, with many bitcoin portals cropping up throughout the year. Let’s understand why more and more people are switching to online poker websites that offer bitcoin deposits and withdrawals.

Anonymity

Laws related to online poker are evolving continuously all over the world. As these laws also cover online payments, they restrict access to poker rooms on the Internet. Using bitcoin one can easily bypass such regulations and gain seamless access to poker websites. In fact, Internet offers a good number of completely anonymous poker platforms where one can use bitcoins with ease. It’s common knowledge that bitcoin transactions are very difficult to trace and are completely anonymous in nature. Hence, this cryptocurrency works very well for poker players who’d not like to reveal their addresses and identities.

Bonuses and perks

Both bitcoin poker websites and reputed bitcoin betting sites offer plenty of perks and bonuses to new sign-ups. The basic idea is to attract more number of players to their respective platforms. In most cases, they offer 100% match bonus up to 1 bitcoin at the time of sign up to new players. Various types of reload bonuses are offered too. However, please make sure that you go through the terms and conditions associated with these bonuses, so you know the wagering requirements for making withdrawals.

Lower costs

Bitcoin being a cryptocurrency is essentially decentralised digital cash. As a result, BTC transactions cost a lot less compared to transactions involving fiat currencies. Since the amount gets directly transferred to the online poker website, the deposit fee is minimum too. Please note, with respect to bitcoin, only mining fees is deducted which is almost negligible. Another good way of lowering one’s costs while using bitcoin to play online poker is by using e-wallets. The only drawback they have is that one’s identity doesn’t stay anonymous.

Value appreciation

Bitcoin value has gone from strength to strength ever since its launch, despite multiple hiccups in between. At the time of writing this piece, it was trading in the vicinity of US$ 7000 per bitcoin. Therefore, if you maintain your bitcoin balance with an online poker site for some time, the chances are high that its value would have appreciated by the time you decide to withdraw. Looking at it another way, your pay outs from online poker games would have also automatically appreciated with the increased value of bitcoins.

Provably fair games

Majority of the online poker rooms that offer bitcoin deposits and withdrawals are known to be provably fair. This guarantees that the poker room hasn’t been rigged to steal your money and the odds are tilted in your favour. Well established poker websites will never do anything silly to tarnish their reputation. And the ones dealing in cryptocurrencies like bitcoin are known to be far more trustworthy. This trustworthiness is also ensured by the block chain technology and an integrated algorithm.