Bitcoin is undoubtedly a tempting option for the future of online poker. In this bitstarz review of Bitcoin Poker, you’ll be able to fully understand why and also get a few smart strategies that you can use while playing the game. In general, real money is considered to be imperative for playing online poker. However, it’s also the reason why poker cannot be regulated like other video games, accessible to nearly all people. In theory, Bitcoin is the best method of transferring cash to and from any online poker website. Bitcoins can be defined as mathematical codes at their root, and each of those codes is unique. Being a digital currency, it’s not overseen by either a government agency or any ruling body. Since there is a complete absence of bank involvement, it is always possible to transfer bitcoins in a matter of seconds, rather than it sometimes taking weeks, like in the case of processing cheques or wire transfers. The added bonus is that practically there are no transfer fees. Due to all of these factors, Bitcoin has the chance to bring about a fundamental change in the way online poker sites function at present, as well as in the future.
Using Bitcoin for Poker
You need not be an expert in Bitcoin for using it to play poker. Playing Bitcoin poker is quite simple. You simply acquire some Bitcoins and then transfer them to the online poker site of your choice, which accepts bitcoins as a deposit method. There are multiple poker sites where the only currency in use is Bitcoin. Many mainstream poker sites accept Bitcoin as a deposit method but alter your balance into standard currency if you wish to play. Arguably the most complex part of the whole process will be acquiring Bitcoins. You must go to an exchange, and you will need to have a Bitcoin wallet.
How safe is Bitcoin Poker?
There is considerable risk involved when it comes to Bitcoin Poker compared to regular cash. Bitcoin is volatile, despite leveling off a bit recently. There always remains a chance of its value being completely reduced sometime in the future. However, the advantage of Bitcoin is that it may be considered to be one of the safest currencies on the globe, owing to it not being tied to governments or even any commodity, like gold.
Tips for playing Bitcoin Poker
- Find out whether Crypto is legal in your country
Before you go and start playing on a bitcoin-friendly online poker site, just take some time and ensure that you perform a quick background check. It goes without saying that you should, of course, stick to playing only within the laws of your country. A few of the countries allow their residents to play online poker but have banned the use of bitcoin in its entirety. On the flip side, a few countries allow for Crypto but have not yet gone through the process of legalizing online poker games.
- Withdrawing your winnings
In case you start playing on any bitcoin-friendly poker site, you must make sure that you have the option of withdrawing your bitcoin and then later converting it in your nation into fiat money. The only exception to this should be if you are looking to assimilate bitcoin and keep it aside as an investment for the future.
- Search for a “Provably Fair” System
Owing to the new “Provably Fair” system, all of the sites’ games and offerings have to be completely fair to the players. This feature is present on some of the Bitcoin poker sites. As a result of you’re playing on such a site, you have the added assurance that you’re playing in a totally fair game. In case you want, you also have the option of verifying the results. It is the Blockchain technology that makes all of this possible. All central authorities are prevented from manipulating the outcomes of the games.
- Do the necessary verifications
One more necessary point for you to keep in mind is that when you play on bitcoin poker sites, you have to verify the addresses of both the recipients and the senders. Check thoroughly prior to completing any bitcoin transaction since if you send it to the wrong address, it is impossible to recover your bitcoin funds.
- Make a list of all the pros and cons
Playing poker online while using Bitcoin as the currency comes with its own pros and cons. One of the biggest advantages of this is that you get to enjoy very quick deposits and withdrawals. Players also have the option of enjoying complete anonymity, an extremely secure gaming experience, and getting much larger bonuses. On the other hand, you must also take into account that there are a number of risks that you have to be wary about when you handle bitcoin. Any bitcoin site can get hacked. Scammers will often dupe players who do not have much experience and are not yet familiarised with the workings of bitcoin. Along with that, poker operators often tend to cap all the bitcoin withdrawal amounts, which in turn can really hurt any high-stakes player. It is, however, possible for you to protect yourself from any of the risks mentioned above by simply understanding the ways in which Bitcoin Poker functions, and you can easily do that by going through this detailed bitstarz review and learning more about the subject.
Cryptocurrencies are enjoying a steady increase in their popularity in the present digital world. A lot of industries have already shifted to accepting crypto payments as a better method for managing their financial transactions. This rising popularity of cryptocurrencies saw a number of online poker operators quickly start accepting cryptocurrencies, especially Bitcoin, thus paving the way for cryptocurrencies to turn into an extremely popular payment method quickly. In the present day, there are multiple online poker sites allowing Bitcoin transactions. So use your knowledge of poker to full effect and enjoy on a website of your choice while sitting in the comfort of your own home.