Best Bitcoin Poker Sites: Deposits, Withdrawals and Bonuses
Bitcoin and similar cryptocurrencies like Ethereum, Dash, and Litecoin have revolutionized the world of online poker payments thanks to its decentralized nature, low fees, lightning-fast speed, and anonymity. It’s arguably the single-best way to make a deposit and withdrawal these days on online poker sites. Furthermore, Bitcoin poker options have improved the way users are playing their favorite cash games online.
Poker, unlike say sports betting, has always had a cash problem.
You need fiat currency aka paper money to play poker but actually dealing with the transaction aspect — whether live or online — can be a huge hassle.
Online poker sites have always been beholden to banks and credit card companies as those financial institutions could quickly put the brakes on any transfer from a traditional bank account.
Enter Bitcoin poker.
The best part is that you don’t have to know everything about Bitcoin to make a deposit using cryptocurrency. All you need is a bitcoin address.
Why is Bitcoin a Great Option for Online Poker Players?
There are a number of reasons why Bitcoin and cryptocurrency makes sense for online poker, but it really comes down to the needs of the players themselves. Most online crypto poker players are looking for some mixture of the following things when picking a payment processor:
Reliability and safety
Fast deposits and withdrawals
High limits (the number of Bitcoins you can bet at once)
Low fees
Easy to use
Impeccable customer service
Won’t get blocked
Tournaments
Deposit bonuses (some sites offer free chips when using BTC)
It’s a tall order but Bitcoin casinos fulfill most, if not all of the items on that list for poker online.
When you understand how to use it, Bitcoin is very reliable. Unlike banks, this is mostly on the individual as bitcoin is decentralized.
Perhaps, the biggest feature of bitcoin is just how fast it is for online poker. Once you have bitcoin you can be playing poker with it in a matter of minutes instead of days. Deposits are just that quick.
Withdrawals are also fast but it usually takes a day or two to receive your poker payout because online sites need to confirm the payout amount to block money laundering. It’s still far better than waiting weeks to get a withdrawal check from other online poker options.
When you sign up for a Bitcoin poker site, you’ll notice some of the lowest fees compared to credit cards.
Finally, users can spend their bitcoin poker winnings any way they choose. That freedom is a breath of fresh air for anyone who’s gotten their credit card or bank transfer blocked by a financial institution.
Playing Poker with Bitcoin
Here’s the interesting thing about playing bitcoin poker: You don’t actually use bitcoin at the poker table.
The vast majority of online poker sites immediately convert bitcoin to USD the moment it’s transferred into a player’s account. There are a few reasons that online sites do this but the main one is to give players a break from the volatility of cryptocurrency.
Imagine you bought $100 worth of bitcoin, deposited it at an crypto poker site, immediately ran it up to $200 and went to withdraw your $100 of profit only to find that bitcoin had plunged 50%? It’s like you didn’t win anything at all.
Bitcoin is notoriously volatile and it’s a distinct possibility that it could lose a huge portion of its value while you are playing online. USD is a much more reliable way to fund players accounts. Especially ones who don’t want to ride the cryptocurrency rollercoaster.
The only time you have to worry about the swings of bitcoin is after you make a withdrawal. You can cash that withdrawal out to USD through an online exchange or Bitcoin ATM but the online poker site isn’t responsible for getting you hard currency. If you’re worried about bitcoin volatility you should have a plan to immediately convert your winnings to USD.
What to Look for in Poker Sites that Accept Bitcoin
If you’re looking to deposit some money at on an online poker site that accepts bitcoin you should stick to sites that are vetted – like the ones in our above list.
Basically, you should consider everything that would normally affect your decision to play on a traditional online poker site. Usually, the most important factors for crypto poker players are some mixture of the following:
Reliable and safe to use
High-quality software
Lots of games with plenty of players
Bad players (sometimes you want to play against people with different skill levels)
Big sign-up bonuses (some sites even offer crypto-specific welcome bonuses)
As far as bitcoin goes you simply want to make sure the site accepts cryptocurrency as an option for deposits and withdrawals for poker. You also might want to make a deposit using alt-coins such as Ethereum, Litecoin or Dash. Do your research because some sites accept over 60 different cryptocurrencies.
Online poker sites are always trying to motivate players to make deposits using bitcoin so they’ll often offer incentives like major sign-up bonuses. For instance, if you make a deposit of $50 using bitcoin some sites will offer you a 100% deposit match, meaning you’ll get another $50 to use on the site. That money takes some time to unlock but free money is always a good thing!
If everything you’ve read sounds like it’s right up your alley then you should consider acquiring bitcoin for the purpose of creating an online poker account.
The first step is to learn a little about bitcoin, digital wallets and the blockchain. If you’re just planning on using bitcoin for an online poker game then you don’t have to be an expert but you should at least understand how it works.
From there you’ll want to actually acquire some bitcoin. Getting bitcoin is very different from region to region so you’ll have to do a little research in your jurisdiction. Buying bitcoin is very easy in progressive countries while more difficult in restrictive countries. If you’ve got an email address and access to the Internet then there’s a good chance you’ll be able to get some bitcoin.
Generally, people acquire bitcoin in the following ways:
Bitcoin exchange
From a friend
Bitcoin ATM
Bitcoin classifieds
Before you even acquire bitcoin, you should set up your own digital wallet. Bitcoin wallets come in many different forms including online, desktop, mobile or even a physical flash drive for extra security.
Bitcoin has many benefits beyond poker so it’s definitely worth picking up regardless of whether you end up using it for online poker.
Alternative Cryptocurrencies to Use
While bitcoin might be the most popular form of crypto gambling, there are plenty of other cryptocurrency options that enable users to play poker using payment options that are quick, decentralized, and transparent. Here are some of the most popular altcoins to play at online crypto poker rooms:
There are many sites accepting Bitcoin where you can play online poker. The ones listed above are our favorites, offering the best blockchain poker experience for users of digital currencies. Choose one (or all of them) and start playing BTC poker!
First, sign up for an account at a Bitcoin poker site. Next, initiate a deposit at the poker site and select Bitcoin as your payment method. The Bitcoin poker room will then give you an address to send funds. Send your BTC to this address, and after the confirmation process, you will have Bitcoin poker chips to play with.
That depends on your risk tolerance. If you want to cash out when Bitcoin is high so you can sell, we don’t blame you. However, when Bitcoin is low, you can leave your money on the site and play poker with Bitcoin so you can win more Bitcoin. That way, when it goes back up, you’ll have more to sell.
Americas Cardroom is considered to be the best Bitcoin poker room. Other poker sites that accept Bitcoin are BetOnline Poker and Ignition Poker. The best Bitcoin poker sites also accept Altcoin, so if your site allows you to play with Litecoin, BCH, Ethereum, or Dogecoin, it is probably one of the better poker sites that accept Bitcoin.
Bitcoin exchanges tend to block transactions to Bitcoin poker sites and other gambling sites. In some cases, laws are preventing financial institutions from sending funds to gambling sites. If you send money to a Bitcoin poker room directly from an exchange, you risk having your account shut down, and your poker Bitcoin seized. Instead, follow the instructions on the gambling site and send BTC from your crypto wallet to avoid any issues.
