Bitcoin is the world’s most famous digital currency. It is also the first to have been created and was introduced to the public in 2009.
Bitcoin poker rooms have begun to surge in popularity and given some of the issues the industry has seen in recent years (mainly regarding payment processing, and operators ‘scamming’ players), it really comes as no surprise.
Bitcoin has revolutionized the way players are able to fund their poker games.
Bitcoin is a decentralized cryptocurrency, first created by Satoshi Nakamoto, and it allows players to make instant deposits and withdrawals. It’s perfect for players who value speed – and it also is relatively anonymous, so it’s ideal for players who like to keep their online gaming private.
In this post we’re going to look at some of the main aspects of playing poker online, with Bitcoin – and we’ll begin with a simple introduction on how to actually get started and why you should consider playing online poker with Bitcoin.
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Playing Online Poker with Bitcoin
When bitcoin first emerged as an online payment method at online poker sites, it didn’t catch on too quickly – largely due to the fact that bitcoin was a fairly new currency, and players were somewhat sceptical about using it.
That has however become largely a thing of the past, and bitcoin is now a major currency, with some of the world’s biggest banks even going as far as investing in it.
To use bitcoin at a poker site, you’ll need a couple of things; first, is a Bitcoin wallet. This is free, and can be created at an online Bitcoin Wallet service (like Coinbase, LocalBitcoins, or Block Wallet), or you can also download the Blockchain to your computer/thumb drive, and store your wallet there.
Once you have a wallet it’s time to buy some bitcoins, and this can be done by using your Credit Card, doing a Bank Wire, or buying them using good old cash. The bitcoins then go straight into your Bitcoin Wallet, and it’s then simply a case of finding the poker site you want to play at (we’ll share some of the best, below), and then depositing your bitcoins. They will then instantly appear in your poker account, and it’s then time to choose which poker game you want to play, and to begin playing!
Is Bitcoin Poker Legal?
As with any questions surrounding legalities of online gambling, the best advice is to search specifically for your country, as legal terms vary dependant on the jurisdiction you’re playing from.
Generally speaking however, Bitcoin poker sites are legal and the only real thing you need to worry about, is taxation.
For example, in some US States, you’re required by law to pay tax on gambling winnings – and while some players ‘chance it’ and don’t declare their Bitcoin winnings to the tax man, it’s very, very unwise to do this, as the penalties for getting caught can be steep.
Due to the fact that Bitcoin is still fairly new – and Bitcoin poker newer, still – it remains to be seen how gambling regulators and Governments are going to adapt – and will likely be some time before rules on playing with Bitcoin online are set in stone.
If you’re ever worried about whether it’s legal in your jurisdiction, consult a legal professional, as that’s really the only sure-fire way to get sound, solid legal advice.
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Nov 04, 2019
Top Rated Bitcoin Poker Rooms – Reviewed & Tested
Choosing the right Bitcoin poker site can seem arduous at first – which is why we’ve put together a list of some of our favourite sites. Below, you’ll see our top-rated Bitcoin poker rooms, all of which have undergone stringent testing, to ensure they’re safe, reliable, fair, and suitable to play at. Let’s take a look at some of the most trustworthy sites today.
BetOnline: BetOnline is one of the most popular Bitcoin poker sites, and it has arguably one of the biggest selections of games. Deposits are instant, and their generous welcome bonus ensures new players are taken care of… and you can join now, by clicking the link below.
Americas Cardroom: Americas Cardroom is an online poker site known for its wide and diverse range of games, and whether you want to sit back and relax at a cash table, or play higher-stakes tournaments you’ll find all your favourite games at Americas Cardroom.
Ignition Casino: While their name may not give away the fact that they’re primarily a poker-based site Ignition Casino is one of the world’s most revered Bitcoin poker sites, and their game-range is second to none. Signing up is quick, simple, and efficient – and 24/7 customer support ensures there’s always help on hand should you require it.