Thanks to the fast-paced world of technology, it’s now possible to fund your online poker account with Bitcoin. For many people, traditional payments, such as debit and credit cards, can be slow and aren’t as secure as they’d like. You might have been investing in this cryptocurrency for a while, or perhaps you’re a complete Bitcoin beginner, but we’re going to navigate you through the benefits of using this cryptocurrency to play online poker and why so many players are choosing this new method. We’ve also handpicked and reviewed some of the best Bitcoin poker sites on the market, so all you have to do is compare sites, select your favourite and start playing.
Just like any other payment method for online poker sites, Bitcoin has both benefits and drawbacks. Let’s take a look at some of the key advantages, as well as the limitations of using Bitcoin to fund your online poker account.
Pros
Anonymity
Bitcoin is entirely decentralized, which means your purchases can’t be tracked, much like cash purchases. Your Bitcoin address will change with each purchase you make, so there’s no way of associating transactions with your personal identity, unless you declare them yourself.
Low/No Transaction Fees
Since Bitcoin is decentralized, there’s no third-party to impose transaction fees or conversion rate costs, which makes Bitcoin the perfect option for international payments. This is ideal if you’re looking to play poker with an international operator. If the operator does impose fees for Bitcoin purchases, these tend to be very low.
Secure
Unlike traditional banking options, you won’t need to enter your personal information or billing address to make a Bitcoin deposit in your online poker account. While Compare.bet only recommends trustworthy operators, licensed to operate in Canada. This can ensure the complete protection of your personal information, and prevent it from falling into the wrong hands.
Faster Processing
The majority of online poker providers process Bitcoin withdrawals faster than other banking options. Long gone are the days of waiting 3-5 business days for your bank to process the payment, as some operators will be able to process Bitcoin withdrawals within 24 hours!
Cons
Fluctuating Value
Given that Bitcoin is completely independent, and relatively new, its much less stable than traditional currencies, so its value is subject to fluctuation. Bitcoin might be worth a huge amount one day, but its value could slump significantly the next and there’s no way of controlling these changes. Of course, this means the value of your poker winnings could also fluctuate in this way.
Requires Cryptocurrency Understanding
While the general concept of Bitcoin is simple— it’s a decentralized, digital currency— it’s important to understand the cryptocurrency on a slightly deeper level before you use it to play poker online, which means it won’t be suitable for everyone. We’d recommend doing plenty of research before choosing Bitcoin as your primary payment option for online poker.
How to play at Bitcoin poker sites
Use Bitcoin to deposit money into your online poker account in just a few steps.
- Compare poker sites
The Compare.bet expert review team has picked out the best Bitcoin poker sites. All you need to do is compare these operators, considering their bonuses and game variations, and pick your favourite to sign up and start playing! - Sign up
Found a poker site that offers the game variations and bonus rewards you’re looking for? Time to sign up! Follow our link to head straight to the registration page. You’ll need to provide some personal information, but this process should only take a few minutes. - Select your banking option and deposit
Before you can start playing real money online poker, you’ll need to deposit some money into your account. Simply select Bitcoin as your banking option, log in to your cryptocurrency wallet, and deposit your chosen amount. Some sites will require a minimum deposit, especially for welcome bonuses, so check the terms and conditions of this before you sign up. - Try demo games
Demo games are a great way of playing poker for free before you wager your own money. This is the perfect opportunity for beginners to get to grips with online poker and figure out which variation they like best. - Play real money poker
Ready to start playing poker for real money? Simply select the full version of your chosen game and try out your best poker face. Good luck!
Ready to play?
Now that we’ve covered everything you need to know about making bitcoin deposits and withdrawals at online poker sites, you probably want to give it a go for yourself. Use our list of the best poker sites with Bitcoin banking options to their players to compare, sign up and start playing online poker today!
