The Malta Blockchain Summit taking place on 1-2 of November this year will launch a Blockchain Hackathon powered by CryptoFriends, which is expected to bring … Continued ⭢
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What types of Bitcoin Poker rooms are there?
Here are two types of rooms that allow players to use bitcoin currency for the transaction purposes:
- Bitcoin-only poker sites: The bitcoin only poker sites are the specific sites which let players use only bitcoins as the payment method. Hence, there is no need for currency converters and no conversion fees are levied on the players. On these sites, the players bet in bitcoins.
- Bitcoin-inclusive poker sites: They allow the players to deposit, and sometimes withdraw in BTC, all playing is done in Dollar, Euro, Pound etc. These sites provide currency converters, and bitcoin values may differ from currency to currency.
Bitcoin poker vs Regular money Poker
Usually, the gameplay is quite similar to both bitcoin and regular money poker. Since online bitcoin poker sites don’t have the higher cost associated with the processing, they can provide reduced rake and better deals. Bitcoin poker players are in general less experienced players. In bitcoin poker, lots of bad players mean a lot of natural flowing money on the tables. It means that player the standard is lower here than normal and the chances to find a “fish” to milk cash from is greater in a bitcoin poker room than at a regular poker room. A drawback is the number of players. The poker bitcoin sites are in general small.
In general, the standard of the bitcoin poker players are lower than at the established casinos. It means easier money and more fish to play against.
Benefits of bitcoin vs regular money
Bitcoin has some unique advantages over the regular currencies. Bitcoin cannot be restricted or manipulated by the central banks and offer complete anonymity to let players operate independently from payment systems and traditional banking.
Costs associated with the bitcoin are also low, and fund transfers are way faster than the traditional bank transfer. In case of bitcoin, the transfer can be done 24/7 and 365 days a year with no fees attached. Moreover, the withdrawals and deposits are simplified, and transactions are quick, easily manageable without letting any illegal organisation and government trace the withdrawal. Bitcoins are only accessible through the stored details and not by any authorisation method like regular money.
Downsides of bitcoin vs regular money
Even though there are many advantages of Bitcoin, the irony is that the most positive aspects of bitcoin’s turns out to be the possible drawback when applied practically. Since, the bitcoin needs to be stored in e-wallet which needs to be installed on a particular platform, if in case the software that saved all your bitcoins damage or breaks you will be left with almost nothing.
Another downside is the adoption of the bitcoin poker sites which government may end up interfering and end up targeting poker sites. The coming future of bitcoins is also another concern for the online bitcoin poker players creating a hazy situation, possible financial risk. These are few reasons that hold back poker rooms to accept bitcoins as they are highly capable of disrupting the transaction channels.
Bitcoin poker bonus and promotions
Most of the famous bitcoin poker sites offer a massive incentive to players for making the deposit and to sign up using the bitcoin. The players can easily find the plethora of bitcoin poker bonus which is highly valued Bitcoin deposit bonuses. The poker sites also have BTC giveaways for winning the tournaments. Besides that, there is no other way to get free Bitcoins from the online poker sites.
Some sites also offer the bitcoin poker bonus for the first deposit. A typical bonus can be 100% up to $1000. Most poker sites offer welcome bonuses. The increased competition in the poker market has led to more great welcome offers, loyalty programs and sometimes bitcoin poker no deposit bonuses. A standard bonus is Rakeback, where the players get back some of the rakes they have paid to the casino while playing.
How to use Bitcoin to deposit to the Poker room
To use Bitcoin to play poker games, the players would first require a Bitcoin wallet to move bitcoins around the web. There are a lot of different wallets but if you choose one of the big ones you can rest assure that your money is safe. After securing the wallet and Bitcoin amount, you can deposit into your account at any bitcoin poker website you are playing at. Every site gives you the complete overview of services and the associated charges for bitcoin deposit. The deposit is fast and easy. When you have made your deposit you can start playing bitcoin poker. Just like any other poker room you play as usual. The only real difference is that the currency you are playing with is bitcoin.
Bitcoin poker tournaments
While playing on these bitcoin poker sites, you will be able to get chance to participate in a vast number of bitcoin-based poker tournaments. You will find both the ‘main event’ and ‘sit n go’ tournaments. Every poker site features a tournament schedule allowing players to select the desired tournament that is ongoing or about to begin. Some site also offers bitcoin poker freerolls where we players can join for free. It’s a way to win free bitcoins!
There are plenty of bitcoin poker tournaments on Ignition casino, BetOnline, offering bitcoin freeroll. Most of the poker sites accepting cryptocurrency provide their set of bitcoin poker freeroll during the competitions. The tournaments are the perfect place to play bitcoin poker for free and get a chance of earning daily weekly and monthly freerolls.