9 Important Things To Know About Bitcoin Poker
Poker is one of the world’s most popular gambling games. If you are a poker fan, then you will likely already be familiar with the immersive world of online poker. You might not be familiar with Bitcoin poker, however. Bitcoin is a leading cryptocurrency and one of the most valuable. Bitcoin poker, therefore, is poker that uses Bitcoin as a token. You make deposits in it and withdrawals in it.
If gambling with Bitcoin is something that you are interested in, then you’re in the right place. Here are nine important things that you need to know about it:
Casinos
If you intend on taking Bitcoin poker up as a hobby, then the first thing that you should know is that there is a wide variety of sites and casinos for you to choose from. This broad selection of casinos makes it a lot easier for you to find one that’s reliable, secure, and worth spending money on. As can be seen at Mercury News, there are dozens of sites available to choose from, so consulting online ranking guides is the best way to arrive at a decision about which is the best option for you. Ranking guides give you an opportunity to see what the advantages are of using different casinos.
Legality
A lot of people wrongly believe that it’s illegal to gamble with Bitcoin, but it isn’t. This belief comes from the fact that Bitcoin is an unregulated cryptocurrency, meaning that there is no financial conduct authority monitoring and regulating its use. Just because Bitcoin’s unregulated, it doesn’t mean that it’s illegal to gamble online. What it does mean, however, is that you have no financial protection if you are scammed. Because of this, you need to make sure that you are very careful when transferring Bitcoin online, and that you only use reliable, respectable sites.
Profits
Something else that you should know is that Bitcoin has the potential to make you a lot of profit, whether you play poker or not. Bitcoin is by far one of the most valuable and desirable cryptocurrencies to own. If you are fortunate enough to hold a sizable amount of it, then gambling is a fantastic way of increasing your overall holdings. Because Bitcoin poker uses Bitcoin as a currency, all winnings (and losses) are held in Bitcoin. This means that you are able to make tons of Bitcoin. You do need to gamble responsibly though because it’s just as easy to lose your investment as it is to win more.
Security
Security is something that you need to take very seriously if you are gambling online, regardless of whether or not it’s with fiat currencies or Bitcoin. With that said, Bitcoin gambling is a little riskier, because hackers intentionally target casinos that they know process transactions in cryptocurrencies. The primary reason for this is that cryptocurrencies are, as aforementioned, unregulated. Because the industry is unregulated, thefts can go unchecked. While the blockchain does allow you to trace your crypto after it’s left your wallet, it can be hard to actually track down and prosecute hackers.
Efficiency
Traditional online casinos can be an absolute nightmare to work with because they are usually very inefficient. Casinos that specialize in Bitcoin tend to be run by people that have existing experience in the tech industry, so understand the importance of efficiency. In addition to being more efficient, Bitcoin casinos also tend to be a lot easier to use, in terms of the website interface. Customer support and tech support also tend to be a lot more reliable and a lot easier to deal with, which sadly isn’t always the case with traditional casinos.
Privacy
If you care about your privacy, then Bitcoin poker is something that’s worth considering. When you sign up for an online casino that only allows fiat transactions, you will have to submit your passport and identity documents to them so that they can verify your identity. When you are using a Bitcoin casino, this isn’t the case. You don’t have to submit anything in the way of identity verification, because crypto wallets don’t need to be verified and don’t have a name attached to them. You can simply register, even under a fake name, meaning that you don’t have to worry about data breaches.
Convenience
Bitcoin casinos are, for all of the previously mentioned reasons, much more convenient. Another reason that they are convenient is that they process transactions speedily. You don’t have to wait around for days or weeks for your winnings to be processed back to your account, nor do you have to spend hours waiting for deposits to show up. Bitcoin transactions are processed instantly, which means you can focus on gambling and don’t have to worry about waiting around.
Tournaments
Bitcoin poker tournaments are a lot of fun. More often than not, they draw out the world’s best poker players. This gives you an opportunity to play with and learn from the best of the best. If you are going to play online tournaments, then it’s crucial that you find a good quality casino. There are many casinos, but few offer engaging and enjoyable poker tournaments. A poker tournament should have a high-quality and fast host and should give you the opportunity to communicate with other players by either video chat or audio. Tournaments can be a fantastic way to make a profit, so it’s crucial that you find a tournament that’s right for you.
Development
Lastly, and unrelated to Bitcoin casinos, if you intend on playing poker online, then it’s very important that you study the game and try to develop as a player. You won’t be able to make a profit from online gambling if you don’t. Bitcoin poker tournaments attract very good players, so if you don’t learn how to play the game expertly, you won’t be able to beat them and will end up losing money. The best way to develop and become more advanced as a poker player is to read books, watch videos, and study online guides.
It’s not hard to see why poker is so popular. You can make an absolute fortune from it! If you are going to take up Bitcoin poker, then you need to study this guide’s advice and do as much research as you can.
