Exploring and finding a good online poker casino is easy but finding one that approves bitcoin payment method is challenging. This can take some time and effort. Wondering how bitcoin is related to online casinos?
What is bitcoin?
Bitcoin is digital or crypto currency, designed for online payment. Its exposure is steadily increasing along with other crytpocurrencies. Bitcoin is the first cryptocurrency and very popular. It does not have a physical form like dollars or euros but is a digital token that can be transferred electronically from person A to person B residing in any part of the world.
Reasons to use bitcoin casino website
Playing at an online casino using bitcoins has its personal benefits and drawbacks.
Unlike traditional payment methods like banks or credit cards, bitcoin is operated by decentralized network of worldwide computers. Bitcoin transactions are monitored just like Wikipedia gets maintained by decentralized grid of editors and writers. Blockchain technology consistently updates all bitcoin transactions record.
Decentralized means government or banks or any third parties have no jurisdiction over transactions conducted using bitcoin. Fortunately, the details of the users don’t get revealed. You just need to offer credit or debit card or bank account details, while purchasing bitcoin from online vendor. Every action from there is totally secret.
Decentralized currency means no need of bank or government authorization to finish the transaction. Therefore, the speed of transaction is fast and even instant at times. Nevertheless, you need to bear in time that even though bitcoin transaction is rapid, withdrawal of earnings from online casino will depend on the platforms protocol of reviewing and approval process.
Many online casinos will not approve withdrawal requests until specific terms are full filled, therefore read their conditions carefully before registering on a gambling site. The moment you get approved, you will receive crytpocurrency in your e-wallet account within ten minutes.
Online and physical gambling business is illegal in the US and many other countries but there is no law stating that players cannot play betting games. Nevertheless, be cautious because using bitcoin may be illegal in your country.
Besides all the above advantages of gambling with bitcoins online, punters get awarded more using crypto currency to wager. For example, you may see a matching welcome bonus of up to 5BTC [$30,000+] on bitcoin deposit made.
How to start playing poker with bitcoin?
Bitcoin poker is no different than playing with fiat currency. Just follow the three steps –
- Open a wallet
To play at one of the best best BitCoin poker rooms open a cryptocurrency wallet. Every wallet has unique address that will be needed to gamble online with bitcoin.
- Purchase bitcoins
Use regular money to buy bitcoins from online exchanges that sell bitcoins. There are several exchanges but read their features to get familiar with their requirements and what they offer, before finalizing.
- Deposit bitcoin on your poker site
Choose a reliable bitcoin casino, get registered, and open an account. Deposit the preferred bitcoin amount into the account and you are ready to bet.
In the US, bitcoin use is legal. Traditional online poker game is approved in several jurisdiction only, so same law applies to bitcoin poker.