Bitcoin is the first cryptocurrency or digital currency, which enables cryptographical financial transactions. Cryptocurrencies offer transparency to users as it depends on blockchain technology, which makes them a decentralized form of digital currency. And, most importantly, cryptocurrencies can be exchanged between two or more parties using public or private keys, but with a minimal transaction fee, unlike FIAT currencies.
As Bitcoins are soon turning out to be the most preferred currency for online transactions, many online casinos have facilitated the provisions for using Bitcoins for online gambling and other casino games. Likewise, Bitcoin poker is gaining quite the popularity with poker players due to the ease of transaction, and faster payouts, when compared to fiat currency.
Introduction to Bitcoin Poker & How to play Bitcoin Poker?
Typically, Bitcoin poker sites are of two major types, the Bitcoin-only casinos and the casinos with Bitcoins as one of the payment options. The latter is also referred to as a hybrid casino or hybrid poker site.
Playing Bitcoin poker is quite easy. To begin with, you must have Bitcoins in your Bitcoin wallet. If you do not have Bitcoins, you can opt for Bitcoin casinos where you can buy Bitcoins using your credit/debit cards, money transfer, etc. Click here for more details.
Steps Involved in Playing Bitcoin Poker
- Sign up for a cryptocurrency exchange
A cryptocurrency exchange is a platform that enables you to buy, sell, and exchange different types of cryptocurrencies.
- Purchase Bitcoins
The next step is to buy Bitcoins using real money. The value of the Bitcoins varies as per the crypto market.
- Create a Bitcoin Wallet
A Bitcoin wallet is where you store your Bitcoin address and keys for Bitcoin transactions. Once you have purchased Bitcoins, transfer them to your cryptocurrency wallet.
- Sign up with a Bitcoin poker site
Choose either a Bitcoin-only or a hybrid online casino that enables you to play Bitcoin poker.
- Transfer the Bitcoins from your wallet to your online Bitcoin poker account
Once, you have established your gaming account, all you have to do is transfer your Bitcoin to your gaming account. You are now ready to play Bitcoin poker.
Why to play Bitcoin Poker?
Apart from transparency, enhanced security due to SSL encryption, and user anonymity, there are attributing to the popularity of Bitcoin poker; and, these reasons include:
- Low rake percentage
When compared to traditional online poker sites, most of the Bitcoin poker casino sites offer a very low rake percentage. However, this depends on the Bitcoin casino you choose.
- Lightning-fast transactions and faster payouts
Typically, traditional poker games take ages to process your payouts. Nevertheless, Bitcoin poker sites are famous for lightning-fast payouts, which range from a few minutes to a couple of hours, as opposed to days and months taken by traditional poker sites.
Tips for Bitcoin Poker
Gambling, in general, does not come with a standard guide for winning, however, certain strategies increase your chances of winning. The same strategies also apply to Bitcoin poker. Nevertheless, you must consider a few pointers before you start playing Bitcoin poker.
Make sure to refer to the Bitcoin poker site’s terms and conditions along with wagering requirements. Also, determine your bankroll and the type of Bitcoin poker you want to play, as there are a plethora of poker variants online.
Bitcoin poker tip: Choose a poker game with the lowest house edge.
Bitcoin video poker and table poker
Bitcoin-only online casinos and sometimes hybrid online casinos have a myriad of poker games including Bitcoin video poker and table poker. The rules are similar to traditional online video poker and table poker. However, the difference lies in the fact that you play Bitcoin poker for winning Bitcoins. Nevertheless, there are Bitcoin casinos that help you with cashing out your Bitcoins. Thus, the trick lies in not only gambling responsibly but also choosing the right Bitcoin poker site.