Ever since poker rooms went online, people have been talking about their regularity. They had to be legalized by the governments of each country and were obliged to prove that their games were fair and that their players’ payments were safe.

This final task worried online poker rooms the most, but the technological progress at that time helped them a lot. A new digital currency known as Bitcoin was invented and released back in 2008.

This currency was seen as approachable and flexible since its beginnings due to the fact that it has remained an open-source technology.

That is how this currency slowly managed to fit the needs of poker sites and online gambling in general.

There are many poker sites nowadays which offer bitcoins as a payment method. Their players have a lot of benefits when it comes to the most important depositing and withdrawing options. You can choose between bitcoin-dedicated poker sites which exclusively accept this currency or bitcoin-inclusive ones, which offer this cryptocurrency along with other payment options. The final online poker room type limits bitcoin as a payment method through Neteller accounts.

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Bitcoin poker sites are still unpopular in many countries all over the world even though they provide great advantages to their players. The legalization of online poker rooms and bitcoin as a cryptocurrency is a long process. This is mainly because of the governments’ opinion about them, which is why they tend to forbid them or simply ignore them. In spite of all these problematic situations, they still managed to become some of the most widespread phenomena of the last century.

Frequently Asked Questions

Poker players had some difficulties when they were introduced to bitcoins for the first time. Nevertheless, they managed to see that this new currency can offer many opportunities. In order to help them use all the potential benefits, we offer some guidance and useful tips about playing poker with bitcoins.

  1. What is a bitcoin and how does it function?

    Bitcoin is a digital currency which has introduced a whole new method of payment transfers. It functions as an open-source system since its first public appearance. What is interesting about it is the fact that this currency’s transfers are done on a peer-to-peer basis. This means that no banks or other financial institutions are included along the way, but there is another type of “side” regulation which resolves the technical issues. Namely, a team of developers are constantly keeping track of malfunctions and are trying to introduce potential improvements. Most importantly, you need to know that they cannot apply any changes to the system before consulting with majority of bitcoin users and owners worldwide.

  2. Do bitcoins have value?

    Bitcoins have a specific value attached to them because they are basically non-existent. By definition, they are just strings of code which carry the value. That is why it is impossible to compare them to the regular commodities of gold or oil like other real-life currencies can normally do.

    The volatility of bitcoins’ value is another crucial characteristic. It is the main reason why most merchandisers are still hesitating whether or not to accept bitcoins as a payment method. Governments are also worried about this because of the bitcoin’s shiftiness.

  3. Where am I supposed to buy and keep my bitcoins?

    There are specific e-wallets which are used to hold your bitcoins even though they are not real coins or bills. One type of e-wallets comes as downloadable software and looks like a typical hardware storage. In this regard, bitcoin owners are concerned about physical damages.

    The cloud version suffers from different type of risk from hacker attacks. These e-wallets don’t demand any private information which is why they are safer than most other payment methods. That is because their technology simply uses a different address for each e-wallet.

    Besides buying bitcoins, there are other ways to get them in your e-wallet. You could also try to exchange them like we do with any other currency, but this is just another way to pay for your bitcoins. The third option is known as ‘mining’ and it practically represents the creation of bitcoins. This is done using specific software which solves mathematical problems in order to get the bitcoins, i.e. the address keys.

  4. How can I deposit and withdraw bitcoins on poker sites?

    Depositing and withdrawing bitcoins on your chosen poker site is easy. All you need to have is an e-wallet full of bitcoins. Once you choose bitcoins as your preferred payment option for the poker room, you can deposit them to your poker account. Withdrawing bitcoins from the poker site is done similarly. All you need to do is enter your e-wallet address as the recipient.

    The speed of depositing and withdrawing bitcoins is practically momentary. This is very appealing for people who wish to live a modern lifestyle without any delays.

  5. How do I know if a bitcoin poker site is provably fair?

    The ‘provably fair’ factor determines whether the poker games and card shuffles on the poker site are completely random and unbiased. The best way to know whether the poker room is fair or not would be by simply checking it. Most sites offer this option as a button right next to their poker games in order to let you make regular check-ups.

  6. Will I be able to play bitcoin poker on my mobile device?

    This does not concern bitcoins and is completely up to the poker site. E-wallets for bitcoins can suit any platform if you choose them correctly. So, you should have no problem playing bitcoin poker on your mobile device as long as the poker room has a user-friendly mobile app or a mobile version of their website.

  7. Could I receive any poker bonuses while playing with bitcoins?

    Bitcoins are just a currency like USD, EUR or any other. This means that choosing bitcoins as your preferred method of payment doesn’t stop you from receiving any bonuses and promotions which are offered on the poker site.

  8. What is the greatest disadvantage for online bitcoin poker players?

    The lack of value stability and practical use are the greatest obstacles for universal acceptance of this cryptocurrency. This is due to the resistance of most governments which limits its uses. Once it isaccepted over a wider territory, this cryptocurrency is definitely going to improve its stability.

  9. Are there any fees for bitcoin transfers?

    Bitcoin transfers are performed on a peer-to-peer basis with no organization involved. This means that there is no institution that could charge the bitcoin sender and recipient. A small insignificant fee of 0.0001value of each bitcoin is present for withdrawals specifically. What is interesting about it is the fact that it changes according to the value of the transferred bitcoins.

  10. What are the greatest benefits for online bitcoin poker players?

    Online bitcoin poker provides its players with transparency and anonymity. The former is achieved by free bitcoin transfers and the blockchains that they construct. These blockchains are actually lines of code which provide information about the bitcoin’s previous locations and transactions.

    Anonymity also manages to survive despite knowing that you bitcoins belonged in a different e-wallet before they were in yours. This is so because bitcoin poker sites only need your e-wallet address during deposits and withdrawals.

The Best Legal Bitcoin Poker Sites

Even though there are not many bitcoin poker sites available, it is good to know how you can recognize the good ones from the bad. First of all, it is important to distinguish between regular poker sites and bitcoin poker rooms. The game selection mostly depends on the site, but there are no major changes. Plus, the payment transfer speed is much higher with bitcoins than it is with regular payment methods.

In any case, most of them are scared of legal and governmental involvement due to the fact that bitcoins have not been approved by most jurisdictions yet. That is why the best bitcoin poker sites are actually those which have been legalized by their jurisdiction.

Are Bitcoin Poker Sites Legal Or Not?

Your location can greatly determine the legality of the bitcoin poker sites. This is so because various countries have their own opinion on the matter.

The territory of Europe seems to be a more fertile ground for poker sites because gambling restrictions are quite rare and online poker sites are included in the standard regulations. Bitcoins as a cryptocurrency are still new for most people, but this doesn’t make them forbidden.

The situation with bitcoins is usually the same anywhere in the world, but online poker is a completely different matter. Canada is one state which has a different stance regarding online poker because the government has not really defined it as legal or illegal. The USA go to the negative extreme and have forbidden US citizens from playing online poker. They normally do this through the UIGEA law which forbids them to send any funds to gambling sites.