So you have been playing on online Poker casinos for some time now, or you have stumbled upon someone who told you they have been using Bitcoin for online gambling adventures. It’s about time to jump on the Bitcoin bandwagon as there are many good reasons and advantages of using it to gamble on the Internet.
When Bitcoin was invented in 2009; people didn’t know much about it and how safe it was to use Bitcoin for transactions. But with time, Bitcoin proved its value on the Internet gambling sector, too.
However, if you are still not convinced, here are nine reasons to use Bitcoin to play Poker online.
The first and probably one of the greatest attributes of Bitcoin is that when someone purchases bitcoins, they are stored in a digital wallet with a unique address accompanying it. That means that when you register to an online casino which accepts Bitcoin as a currency, you don’t have to provide them with your personal information. You just have to enter the address of the wallet so you can deposit and withdraw money using it.
In other cases, you would have to give your card information, and thus the site would know your name, address, country of residence and many more things you may want to keep private.
Considering some hackers could get access to your computer, it is logical to be afraid of them gaining access to your digital wallet as well. The answer is simply no. Hackers won’t be able to access our wallet. Let me tell you why.
When you create your digital wallet, of course, you have to create a password as well. But to access it, you wouldn’t need only the password but the physical device in which the wallet is stored, too. If you go with a good and trustworthy digital wallet provider chances are your “password” would be typed by an on-screen keyboard or a digital signature, so Bitcoin isn’t just safe but also safer among the already known transaction services like PayPal or any online banking system.
If you still have second thought just know that you can store your digital wallet on some particular USB-like devices or an external drive.
One of the best reasons to use Bitcoin to play Poker Online or any other casino game is the speed of transactions. Being a decentralised cryptocurrency, purchases made with Bitcoin don’t require a banking system to take action to process them. With no banks in the way that means there wouldn’t be long approval times.
When you deposit to and withdraw bitcoins from online gambling sites transactions would be very fast and many times even instant. In some rare cases, it would take between five and ten minutes but no more. That is great comparing to the hours or even days banks choose to carry the transactions out.
When it comes to Bitcoin, transactions aren’t just rapid but also cheap. It happens for the same reason mentioned before, and it is that there aren’t any banking systems involved to take a share of your winnings. The only transaction fee you would have to cover would be in the smaller unit of bitcoins, and it would depend on the “bytes” or amount of data (equal money) you would withdraw or deposit.
Still compared to the 2% platforms like PayPal keep and let’s not talk about banks, the bitcoin transaction fees would be equivalent to less than a US dollar in most cases. Pretty amazing.
Ability to Make Profit
Just like real currencies, Bitcoin is subject to the law of demand and supply, meaning that as long the need for it keeps rising so will its value. Two years after its launch one bitcoin was equivalent to $200 give or take. Fast forward that for five more years and the exchange value at the time of writing this article is over the four thousand USD mark.
So you could keep on playing with your earnings and win more, or you could withdraw them to your wallet, pay the small transaction fee and wait for its value to go up before you exchange it for real money. Nothing better than making money without doing work.
Bonuses and Promotions
Bitcoin casinos had to find a way to compete with the good old regular online websites so what did they do? When other sites give you a 100% of your deposit up to a hundred dollars or so, some Bitcoin-accepting online casinos will also double your initial deposit up to the crazy amount of 5BTC.
Of course, just like with standard online betting sites – you would be required to reach a specific amount of money gambled before you could withdraw the winnings (including the money left from the initial bonus).
Many Bitcoin casinos also have special promotions from time to time where you would be able to win some extra dollars if you showed a specific hand like a Royal Flush. Another kind of promotion would be something like a “crazy” weekend where all your winning would be doubled or something similar to that nature.
Significant Transaction Caps
Unlike real currencies, when you deposit with Bitcoin you don’t have to add 20 or 50 dollars to your account so you can start playing. Most sites require just 1mBTC which in the time of writing this article is equivalent to $4 and few cents.
The same applies to withdrawals. Unlike the $100 per day cap most ordinary online casinos offer when we talk about Bitcoin the rates go up to 1BTC per day or 5-10BTC per week. Some sites don’t even have a cap so you can withdraw as much as you want.
Specific sites also provide players with High Stakes tables where, as it is self-explanatory, the blinds can reach very high marks.
If you don’t have a large enough budget available to play on bigger tables or tournaments, Bitcoin casinos also offer freeroll tournaments from time to time with some of them featuring even daily ones. In case you didn’t know when you take part in a freeroll tournament, you don’t have to pay a buy-in fee, but you can win the prize money. In my opinion, this is one of the best reasons to use Bitcoin to play Poker online.
That gives you the ability to make money out of nothing else except your Poker playing talent so you can raise the amount of money in your account. That is a pretty good way online Bitcoin casinos help the low rollers if you ask me.
Bitcoin was developed, and thus optimised for online use, so that makes it very secure and reliable when it comes to the online gambling community. Exchanged by lots of online vendors Bitcoin provides the ability to be purchased and sold by everyone making it the most used and reliable cryptocurrency worldwide.
This makes it a very stable currency to use on online casinos instead of real money.
All of these make up the nine reason to use Bitcoin to play Poker online as well as other slots, miscellaneous and table games. Cryptocurrencies keep popping up, but Bitcoin was the pioneer that introduced to the world the many advantages of using cryptography to the money system.
Let’s all hope that because of those, and many other secondary reasons, cryptocurrencies and especially Bitcoin keep on existing and aren’t lead to destruction. A significant amount of people worldwide just like us gamblers would be disappointed if Bitcoin was to reach its end.
I don’t know about you but I like the bonuses and promotions that come with the usage of Bitcoin in online gambling sites, and I wouldn’t like that to be taken away from me.