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Bitcoin Poker

Bitcoin Online Poker – Old Game in a New Style

Bitcoin and other cryptocurrencies have been successfully used in online poker for several years now. In 2012, the American Brian Micon launched the first cryptocurrency poker room called Seals With Clubs. Since 2012, many Bitcoin poker rooms have been created, but many of them have already closed. High competition in online poker and low interest in cryptocurrency at that time did their job. Only now, when the topic of cryptocurrencies has gained popularity, bitcoin poker Australia rooms have a good chance of surviving.

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Play Online Poker with Bitcoin

Cryptocurrency poker rooms are conventionally divided into two categories. The first group includes institutions that support free bitcoin poker and offer a game with the conversion. By making deposits in cryptocurrency, money is transferred into regular currency. When withdrawing funds, they are re-converted, allowing you to receive prize money in digital coins. Alternatively, winnings are paid in dollars or euros.

The poker room does not offer separate tables, tournaments for playing for bitcoins, allowing you to play with a common pool of players, finding rivals at any time. But a small commission is charged when converting.

The second category of rooms offers bitcoin games. The poker player is not charged a commission. When the cryptocurrency rate jumps, the player does not lose anything – there are digital coins on the game account and not the converted currency.

The second group of BTC POKER establishments are ordinary online poker rooms that have added a new payment method to their cashier, which allows you to replenish your account in cryptocurrency for playing poker on Bitcoin. They do not open separate tables, since bets are made only in real currency, for example, dollars or euros. The user, replenishing the account in crypto, receives money for the game on the balance at the exchange rate, and upon withdrawal, a reverse conversion is performed.

How Cryptocurrencies Work in Online Poker

  • You need to open an account on an exchange or in an exchanger.
  • Then, you are to choose a convenient method of buying poker bitcoin.
  • After this, you should sign up with a poker room that accepts cryptocurrency deposits.
  • And finally, you must make a deposit according to the instructions of the online poker bitcoin room and start playing.

Bitcoin is not the only cryptocurrency used for poker gambling, but it is the largest, most expensive, and reliable one. There are hundreds of cryptocurrencies in the world, some are issued by poker rooms and are used in them to play for money. But Bitcoin remains the main and most popular cryptocurrency, which is why in some poker rooms this is the only option for depositing digital money.

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What are the Benefits of Online Poker with Bitcoin?

The answer is very simple, bitcoins are perfect for online poker. Using bitcoins is safe, fast, cheap, and anonymous. In addition, at the moment a greater number of poker rooms pay attention to bitcoins, so they allure with special bonuses to make players deposit in bitcoins. It is also worth noting that the fees for deposits and cashouts in Bitcoin are significantly lower compared to other methods.

So, the main advantages of Bitcoins are:

  • Anonymity. The use of BTC for deposits and withdrawals is not tracked. It is possible to fund an account from a country where it is forbidden to play poker with bitcoin online.
  • Mining. Having a powerful computer, you can get cryptocurrency by participating in the emission of new blocks in your free time.
  • Fast payments. Despite the conversion and use of partner platforms, BTC deposits are instant. And the withdrawal of money is carried out faster than to a bank card.
  • Low commission. The commission for transfers is absent or lower than that of traditional payment systems. Poker rooms do not charge a commission for depositing and withdrawing money with cryptocurrency.
  • Low rake. Lower costs for checks, commissions, and transactions allow poker rooms to collect less commission from the tables than in regular poker rooms.
  • Special bonuses.

How to Use Bitcoin to Play Poker?

Here are the main tips to follow:

  • Choose your bitcoin online poker room responsibly. License, independent comments, reviews, reputation on the forums – any information helps to learn about the pros and cons.
  • Do not keep large amounts of bitcoins both in poker rooms and in your wallet. Due to the high volatility, their value changes every day. It is better to keep several buy-ins of your limit in the room.
  • If you want maximum anonymity, use a new address for each transaction. Some wallets do this automatically.
  • Be careful when making transfers as a Bitcoin transaction cannot be cancelled.

How to Claim Bitcoin Received from Online Poker?

To get your earnings in bitcoins, you will need a corresponding bitcoin wallet where you can save this cryptocurrency. Bitcoin poker machine casinos will demand providing them with your wallet address, but that is all the information they need. You can then exchange the earned cryptocurrency for your preferred fiat money. The top bitcoin poker websites usually present their own guides so that you can successfully withdraw your winnings.

How to Take Advantage of Bitcoin Prices when Withdrawing and Depositing to Poker Sites?

To succeed in poker with such cryptocurrencies as bitcoin, you need to choose the right time to deposit and withdraw funds, you stand a chance of winning more. When playing poker with bitcoin, you need to watch the industry and withdraw your winnings when their value peaks. Certainly, as in any market, you have to spend some time analyzing the volatility and guessing the correct time to exit the crisis.

The ability to replenish an account and withdraw money from rooms using bitcoins is useful to some players. Basically, those who need to remain anonymous. In addition, cryptocurrency allows you to play in closed markets with a large number of weak players.