Bitcoin is most successful virtual currency, providing card players with a secure, anonymous way to move money online. Bitcoin poker players prefer crypto deposits because they offer safety and anonymity when sending cash to their player account. Bitcoin deposits are a favorite with players where online poker is restricted, but it's a safe and fast option for crypto poker players around the world.
What is Crypto Poker?
Crypto poker is online poker played with cryptocurrency deposits and withdrawals. Bitcoin, Litecoin, Ethereum, Dash, Ripple, Bitcoin Cash, and Bitcoin SV are the most common crypto payments used. When you fund your account and accept payouts with crypto, it opens the door to the safest, fastest, most private, and most verifiable types of transactions.
Bitcoin Poker: Pros and Cons
Bitcoin isn't the easiest method for beginners, but it offers an instant payment method with world-class privacy and safety. Since exchange rates fluctuate constantly, it has the potential to increase in value relative to your local currency while in your poker account.
- Anonymous and secure, perfect for those who value their privacy when playing poker online.
- A good method for players who are otherwise restricted, or who live in jurisdictions where other payment methods are not available for online gambling.
- It's possible to profit from the highly volatile nature of Bitcoin.
- Fast transaction times at Bitcoin poker sites.
- Low fees when compared to other forms of transacting, on both the deposit and withdrawal sides. The best Bitcoin poker rooms online have no fees.
- Great for those who already conduct business in bitcoins online.
- More technical to use and understand than other payment methods. Requires a special wallet.
- The need to buy and sell the currency adds additional complexity and time to the setup process.
- Must move funds from your crypto wallet to your bank account or credit card if you wish to spend it offline.
- Bitcoin is volatile and there's potential for losing a serious amount of your bankroll by doing nothing.
Bonus Offers with Bitcoin Poker
Bitcoin and crypto bonuses are better than comparable offers for credit cards. Online cardrooms prefer to deal with crypto players, because the process is faster and requires less verification. For that reason, poker sites might offer a $1000 bonus for credit card and a $1250 Bitcoin bonus for the various crypto deposit methods. The numbers vary from one poker site to the next, but it's almost universal that Bitcoin players receive the best bonus offers and promotions on the site.
Terms to Know for New Cryptocurrency Poker Players
Players who are new to Bitcoin poker should take a look at our crypto poker glossary. This should familiarize you with terms that will be helpful to know when you play poker with Bitcoin.
| BITCOIN POKER TERM | DEFINITION |
| Bitcoin Address | The unique string of numbers and letters that identify your bitcoin wallet. Like an email address, it allows you to send and receive -- in this case, sending and receiving funds. These are essentialy for Bitcoin poker payments. |
| Bitcoin Exchange | Digital site where cryptocurrencies are bought and sold. Also called crypto exchanges. Coinbase, Kraken, and Gemini are examples. |
| Bitcoin Wallet | An online storage tool for virtual currency. It's what you use for Bitcoin deposits and where you collect your post-withdrawal poker winnings. The wallet's address is the code you input during a withdrawal request. |
| Blockchain | A public ledger of all payments made. Each cryptocurrency has its own blockchain. Here, you can prove your made a payment and verify that the casino sent a payout. Blockchain technology is the key to transparency. |
| Blockchain Poker | Online poker funded with Bitcoin deposits or altcoin deposits. Sometimes called "block chain poker". |
| Cryptocurrency | A decentralized virtual currency, meaning it is bought and sold digitally and isn't tied to a bank or government. Bitcoin, Litecoin, and Ethereum are cryptocurrencies. |
| Decentralized | Dencentralized has two meanings when it comes to crypto. One, the blockchain is a distributed ledger, meaning it's spead across multiple nodes or servers. Two, no central bank or government controls the ledger, so payments can't be blocked. |
| Private Key | Essentially a PIN number used to make Bitcoin transactions. Don't lose this identifier, as it's the key to your security. |
| Supply | The number of units that have been mined and are available for purchase at present. Each crypto has a different unit: Bitcoin has bitcoins, Ethereum has Ether, and so on. |
| Value | The market price for a crypto at that moment. A cryptocurrency's value is based on supply and demand, so the value fluctuates daily. This is why some invest in Bitcoin and the many altcoins. |
How to Start Playing on Legal Bitcoin Poker Sites
Playing at Bitcoin poker sites is a little different than using a credit card or e-wallet for online poker. It takes a couple of extra steps -- getting a Bitcoin wallet and buying Bitcoin at an exchange -- but is safer, more private, and more transparent than other methods. Once your wallet is set up, it's much faster than traditional poker payment methods.
How to Make Bitcoin Deposits
Deposits via Bitcoin are reasonably straightforward, once you've signed up for a Bitcoin wallet or mined your first coins. Still, we provide a guide to crypto poker deposits.
- Get a Bitcoin Wallet: Choose a Bitcoin wallet from among options like CoinBase, Exodus, Mycelium, or Trezor. Make certain it's accepted at your Bitcoin poker room.
- Buy Bitcoin Currency: Buy bitcoins at a crypto exchange like CoinBase, Kraken, or Binance. Buy enough to make a minimum deposit at a poker site.
- Make a Deposit: Sign in to your Bitcoin poker site account, then go to the Cashier page and choose Bitcoin as your payment method. Verify the amount.
- Collect Your Bitcoin Bonus: If required, use a bonus code to receive your crypto bonus.
- Fast and Free: Crypto poker deposit fees are generally non-existent and the processing times are usually ahead of other payment methods, given the lack of risk involved.
How to Make Withdrawals at Bitcoin Poker Sites
Withdrawal processes are similar. Bitcoin poker withdrawals are faster than most other methods, such as credit cards and bank wire transfers.
- Visit the Poker Site: When it's time to collect your winnings, make a withdrawal request. Choose Bitcoin as the payout method and verify.
- Wait for Bitcoin Payment: Wait a short time for the payment to arrive in your wallet. Check the blockchain if you have questions about the Bitcoin withdrawal.
- Payout Times Are Reduced: Withdrawal times are significantly shorter for Bitcoin and other crypto deposit methods. They can be as short as 15 minutes up to about 2 days. 1 to 2 hours is normal.
- No Withdrawal Fees: Most US Bitcoin payouts don't require a fee. Web wallets and bank transfers cost up to 3% of the transaction.
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Bitcoin Poker FAQs
Should I use Bitcoin for online poker?
Bitcoin is best used for those who are unable to transact via other methods or for those who generally hold a Bitcoin balance. While it is a little more technical than other forms of payment, it can be learned, and poker players choosing to go down this route gain a lot in terms of anonymity and overall privacy as they play. Be prepared to be in for a bit of learning if you decide to go down the Bitcoin route for poker.
Do all poker sites accept Bitcoin?
Not all sites accept Bitcoin, but an ever-increasing number do. There are even sites out there specifically targeting Bitcoin players, which can make the whole process of depositing and withdrawing funds significantly easier so long as you are familiar with Bitcoin.
Can I withdraw Bitcoins?
Yes, most casinos accepting payments in this way will also be comfortable in allowing bitcoin withdrawals. However, unless you regularly spend with bitcoins, you will need to then convert your balance to your local currency, which requires you to sell your bitcoins, like you would with any other foreign currency.
What is the best crypto poker site?
We review over a half-dozen crypto poker sites. Each of these online cardrooms feature lucrative welcome bonuses, a full list of tournaments and cash games, and access to large poker communities. It's up to you to decide which is best for your needs, but we recommend you read all of our poker site reviews to decide.
Is online poker with Bitcoin legal?
Yes, it is. Americans can enjoy Bitcoin online poker in all 50 states without legal consequences. 6 US states have regulated online poker, while 44 states have unregulated online poker. State officials prosecute those who host unregulated poker sites inside their states, but not individual players. Thus, US players in unregulated states play in offshore online poker rooms.
Where can I play poker with Bitcoins?
Bitcoin poker players can play online on most US poker sites. Sign up for a player account, make a deposit using Bitcoin, and you'll be playing poker online in a short time. If you already have a Bitcoin wallet purchased at a crypto exchange, then you can play poker with Bitcoins in a matter of minutes.
How do you buy crypto in poker?
You buy them the same way you would if you were trading crypto units. One, get a crypto wallet. Two, buy crypto in one of the popular exchanges.
Three, find a crypto poker site that accepts your favorite virtual currency and create a player account. Four, log in to your account and visit the Cashier page, where you make a deposit. Five, choose your preferred cryptocurrency and make a deposit. Follow the instructions on the poker site's cashier page.
Why should I choose Bitcoin for online poker?
Processing payments always has been one of the big obstacles for poker site operators and their players. Poker is played for real money. Playing cards for no stakes is like watching a movie when you don't care what happens to the characters. Even the smallest home game includes pennies, matchsticks, or some way to keep score.
Poker sites traditionally have a lack of anonymity, in which even the best sites hold players' funds in a segregated pool. The withdrawal times are long and frustrating. Bitcoin poker solves both of these problems.
Here are reasons why so many Bitcoin poker players see crypto as a godsend:
- Lightning fast withdrawals
- More anonymity compared to credit cards
- Bitcoin can also be seen as an investment
- Borderless, decentralized currency
- Cheap transactions
- Easily verifiable transactions
- Playable anywhere in the world regardless of gambling restrictions
