The use of cryptocurrencies is fast becoming synonymous with the world of online poker. It offers users zero friction and fewer frustrations when compared to more traditional banking methods such as credit cards and bank transfers. As shown by the bigger and better promotions and bonuses, more online casinos are leaning towards using cryptocurrencies now.
Crypto poker is very similar to online poker and only differs in terms of the mode of payment used. Bets in crypto poker are placed using cryptocurrencies, facilitating more secure and anonymous transactions. The decentralized nature of cryptocurrencies is a bonus for gamblers, as there is no central agency monitoring these transactions. The nominal processing fees and instantaneous payouts also bonus potential gamblers.
Using cryptocurrencies for online poker is easy and can be completed by following the steps below.
There are plenty of exchanges in the market currently, so it’s imperative to do your research and choose the best exchange available in your locality. Once an exchange has been selected, sign up with the exchange and verify your details to start making transactions with them. The details required for the verification process include,
- copy of ID proof, such as a passport or driver’s license.
- Completing a set of verification questions
- Void checks
- Verification of phone number.
Once all the details mentioned have been verified.
Once signed up, choose an accepted cryptocurrency from the list of currencies in the market and purchase the currency directly from sellers on the exchange. To purchase any currency, choose your fiat currency and flip it to any cryptocurrency of your choice. Payments can be made to your account using credit cards, debit cards, wire transfers, or deposited directly from your bank. Once your account has fiat cash, use it to purchase cryptocurrencies on the exchange.
To deposit money into your casino account, you would need a wallet. Cryptocurrencies can only be deposited directly from the wallet and not from your exchange account. Choose any wallet of your choice from options like online, mobile, computer, hardware, or paper wallets. Most online wallets are free, and if you are using them to transfer cryptocurrencies directly into your casino account, then it is probably the best way to go.
Once a wallet is chosen, transfer the currency from the exchange to the wallet using a two-factor authentication system to keep the transactions secure. Most exchanges would guide you on how to make these transactions online.
Now choose from the best cryptocurrency poker sites that accepts cryptocurrencies of your choice after doing some thorough research on the same. Make sure the site is licensed and regulated before signing up to prevent the risk of fraud. Also, check which casino offers the best sign-up and first deposit bonuses before registering.
Use the following steps to add bitcoins to your online poker account.
- Navigate to the cashier and select bitcoins.
- Input the preferred amount and copy the dynamic bitcoin address of the poker site.
- Open your bitcoin wallet and select send.
- Paste the address and input the amount you want to deposit.
- Click “send” and wait 10-15 minutes for the complete transaction.
- Once completed, use it to start playing poker online.
Yes, crypto poker is licensed and regulated and hence completely legal. Check the legality of the online casino in your area of residence before you start playing. Not all online casinos are regulated, so do some thorough research before you start playing online crypto-poker to minimize the risk of losing money.
Crypto poker is a great alternative to traditional online poker as payouts are maximized, and processing fees are minimal. On top of that, lucrative bonuses and promotions are also an added benefit. Crypto jackpots are also a great way of maximizing your earnings as cryptocurrency prices soar. Fast transactions and instantaneous payouts help entice potential gamblers to choose online crypto poker over traditional. Make sure to do your research before you start to wager at any online casino. However, you can find the top cryptocurrency gambling sites at CryptoNewsZ’s gambgling section.