Bitcoin and the Future of Poker

With its constantly expanding value, we can’t deny the possibility of having Bitcoin or other cryptocurrencies in poker games in the future. As a matter of fact, today we can see the growing number of poker rooms that accept bitcoins and rewards their players with this cryptocurrency.

Despite the controversies, this new currency offers a lot of benefits from anonymity, expanding profit, efficiency, and many more.

Why Bitcoin?

There are 3 main reasons for using bitcoin:

  1. No payment processor needed
    With Bitcoin, transferring coins is easy. All you need is 2 Bitcoin wallet code. No need for a┬ápayment processor, banks, or their convoluted regulations. You don’t even have to pay the transfer fee.
  2. Fast transaction
    Unlike conventional currencies, it only takes a few seconds or even less to move Bitcoins between wallets. In most cases, you can even cash them out instantly. However, there are also some cases, even though they are extremely rare, when transferring or cashing them out takes 24 hours or so.
  3. Expanding profit
    Bitcoin is the most volatile currency we have today. It can quickly expand beyond your expectation. For example, the first Bitcoin transaction was dated back in 2003. Back then, a pizza purchase is made with 10,000 BTC. If we compare it to today’s valuation, that pizza was worth more than $9 million.
    Even though, please be careful. Having a currency as volatile as Bitcoin also means the value can suddenly drop.

Using Bitcoin in poker transaction

One interesting part about Bitcoin that I love so much is its efficiency. You don’t have to wait hours or days to receive your funds. Bitcoin is much simpler than our conventional banking method.

It only takes 3 steps before you can get your Bitcoins. How long will they take? A few minutes or even less.

  1. Download a bitcoin wallet
    A wallet is where you keep your BTC unit. It is similar to your bank account, but this time it comes without incompetent bank tellers or fee. If you are looking for more security, we recommend getting Bitcoin hard wallet.
  2. Choose an exchange
    Once you have your wallet, next you have to fill that wallet before you can use it to play poker. You can either use fresh cash to begin and receive the BTC prize in your wallet or you can fill your wallet with some coins. You can get the latter from various Bitcoin exchanges.
  3. Moving your coin
    If you choose to fill your wallet with bitcoins before playing poker, always remember to move the coins into your wallet. Once you have them, not only you can use them to fund your poker account, but also make online purchases.