The rise in the acceptance of cryptocurrencies has been a significant milestone in human history. One key area that is well represented is poker.
Crypto has now become an accepted means of doing poker betting. Therefore, more light will be shed here on how to use crypto to bet on poker with a particular focus on Bitcoin poker.
This is a welcome development for various reasons. It is very fast, safe, reliable and it ensures user anonymity. Its adaptive usability even extends to the gambling world where you can use it to fund an online gaming account and start to play straight up.
How to use Bitcoin and other cryptocurrencies for poker
To use Bitcoin SV or any other cryptocurrency for poker, you don’t need to have expertise or mastery in it. It is a simple process so long as you are genuinely dedicated to it. All you need to do is to acquire some cryptocurrencies and transfer them to an online poker site that accepts crypto as a deposit method. It should be noted that when it comes to crypto poker betting, Bitcoin has an edge over other cryptocurrencies. It is the most accepted and many poker sites accept it only among all the available cryptocurrencies. This is also why there’s a certain level of focus on it in this post.
While some poker sites only accept it as currency, some mainstream ones accept Bitcoin as a method of deposit and then change your balance into fiat currency for play on their poker site. In any case, when it comes to crypto poker betting, the complex part is acquiring cryptocurrencies as you will have to go to an exchange and you will also get a crypto wallet.
Registering an account on an exchange
If you do not have crypto in your wallet or an exchange account, the first and the most important thing for you is to get some. This means you will have to register an account on an exchange. You could also decide to top it up through any of the different methods of deposit that exist on the exchange. If you cannot do any of these, another option is to tell a friend to send you some crypto by giving them your crypto address.
Buying cryptocurrency
Once you have verified your exchange account, the next thing for you is to start buying crypto, especially Bitcoin and maybe ethereum and litecoin as well. If you want to top your account with euros or US dollars, you can easily do that in many cases by a wire transfer, debit card, or credit card deposit.
Opening a cryptocurrency wallet
To be able to bet crypto on poker, another thing that is required of you is a crypto wallet. Generally, there are different types of crypto wallets available. However, the one that suits online poker best is an online wallet. This is because online wallets are free to create. Moreover, they can be easily accessed from your desktop or with a mobile device.
Transferring crypto to a wallet
After creating a wallet, the next thing is to transfer some crypto into it. For instance, if it is Bitcoin, select the correct amount of Bitcoin that you want to send from the exchange, then copy-paste the address of your wallet to the exchange transfer form. Ensure that the transaction is confirmed by making use of the two-factor authentication.
Signing up to an online poker site and transferring crypto to your online poker account
To do this, just go to any online poker room that accepts crypto deposits and fill in your details. If you have already created a crypto poker account, you won’t need this.
After signing up to an online poker site, just go to the cashier of your account and select a crypto (usually Bitcoin) deposit. Put in your desired deposit amount, copy the Bitcoin address of the poker site, and paste it in the send form of your Bitcoin wallet. Write whatever amount you intend to send and click on the “send” link.
Poker sites that accept crypto (Bitcoin especially)
Below is a list of some notable poker sites that let you gamble with Bitcoin:
- Tiger Gaming
- Bovada
- Ignition
- GGPoker
- Americas Cardroom
- Juicy Stakes
- Intertops
- Seals with Clubs
- BetOnline
Is poker betting with crypto safe?
After all is said and done, one prime consideration that should never be overlooked are the safety concerns. It has continued to be a source of debate as to whether or not cryptocurrencies, especially Bitcoin, are as safe as they are reputed to be. One thing is that Bitcoin and other cryptocurrencies are quite volatile. This means there’s a possibility that the value gets altered.
Despite some of the associated risks, cryptocurrencies have their advantages too. We have briefly highlighted some of them earlier. Cryptocurrencies aren’t tied to a third party such as governments and financial institutions. It also ensured the anonymity of its users among other things. One thing that probably stands out the most in a positive light as far as Bitcoin is concerned is its continued global acceptance. In the near future, we might have a situation where Bitcoin and other cryptocurrencies are the norms when it comes to financial transactions. Whatever the case may be, all the pros and cons applicable to crypto apply to crypto betting as well since it is just another dimension in the way cryptocurrencies are used.
