Bitcoin Cash Poker
This poker Bitcoin website doesn’t offer any rakeback to loyal players, which is a bit disappointing, but there is something of a replacement for it – the weekly cash race. If you’re in the top 100 players at the end of the week you get a taste of a $15,000 prize pool. The best Bitcoin Poker games and tournaments are happening right now on Blockchain Poker! Build your bankroll for FREE! Benefits and Risks of Bitcoin Cash for Users. The best Poker players constantly play each other to try and decide who the best poker player in the world is. The best Poker players constantly play each other to try and decide. Bitcoin cash will have to move back to $700 to guide against the downward pressure while the closest support expects the coin at $650, which is the daily low. What to Expect from Bitcoin Cash.
Over the past couple of years, blockchain technology and cryptocurrencies have crept up from the shadowy basements of computer geeks and nerds and is slowly finding its way into mainstream acceptance. Nowadays, it’s hard to engage in online financial transactions without the likes of Bitcoin, Ripple, Ehtereum, and Lite coin coming up. And Online Poker is no exception. Many poker and sports gambling sites are now, in fact, accepting cryptocurrency payments as deposits. According to Beastsofpoker.com, over $2 million worth of Bitcoin is wagered each our at online poker sites and casinos.
But despite this, most people still have no clue about what goes on behind the working of cryptocurrencies. Questions are often asked on what they are exactly. What makes Bitcoin and cryptocurrencies special? And most importantly, what kind of impact does Bitcoin have on online poker?
What are Cryptocurrencies?
To break it down, cryptocurrencies are digital currencies secured by cryptography that you can use to buy services and goods online. However, unlike other online transactions, these currencies use a more secure online ledger, thus limiting fraud and identity theft as much as possible. In fact, each transaction is recorded and globally recognized, which makes it almost impossible to hack or forge.
People also argue that because the decentralized computer networks built on blockchain are behind the transfers, governments can’t seize or freeze your deposits. On top of that, unlike the traditional banks, most of these cryptocurrency exchanges don’t charge transaction fees.
With all these benefits, you might be wondering why there isn’t a surge of more cryptocurrencies out there. Well, on the contrary, there are presently as many as 1,000 virtual currencies operating all over the world. However, being the industry leader, Bitcoin is the most popular. In the last two years alone, its value has grown by over 1,000%. It is also the most readily accepted in online poker among various websites. In fact, the majority of millionaires are already investing in crypto.
Play Poker For Bitcoin
Bitcoin and Poker
The acceptance of Bitcoin to the online poker community can be traced back to the Black Friday in Poker, an event that occurred in 2011 when the United States Department of Justice indicted the three major figureheads in online poker in the country. Big sites were closed up, and soon after, major payment processors like Netteler started leaving the online gambling realm. Likewise, banks started rejecting deposits, making it impossible for players to place deposits and receive payments.
It was then that a group of poker professionals came up with the idea to look for an alternative – a fluid financial tool that would allow direct connection between poker sites and players. Bitcoin was the most viable option. And so, the SealsWithClubs (SWC) poker site was formed – an Us-friendly Online Poker room that cut out the middlemen like banks and accepted Bitcoin only.
Up until then, Bitcoin was still largely a foreign concept and was notoriously difficult to acquire. People would either mine it or perform cash for Bitcoin swaps. Despite its relatively small size, SWC still made its mark in the online poker playfield, even emerging top ten best US-friendly poker sites at the time.
Its existence alone showcased the possibilities of Bitcoin peer to peer transactions and set the avenue for other online gambling sites. Eventually, other online poker sites, including sportsbooks and online casinos, jumped into the mix, taking advantage of Bitcoin’s smooth mode of payments.
So Why do Online Poker Casinos Love Bitcoin so Much?
As we’ve seen, Bitcoin is not the only cryptocurrency in the game out there. Others like Ethereum, Litecoin, and Bitcoin Cash are equally as legitimate and accepted in online gambling sites. However, Bitcoin still has a significant lead over the others in terms of popularity.
So why do online poker sites and casinos love Bitcoin so much? Well, other than the decentralization and security factor, there are a few other reasons.
- Nobody singularly controls Bitcoin
Perhaps the main reason why online gambling sites gravitate towards Bitcoin is that there are almost no restrictions made on transactions. You see, following the events of Black Friday, the government banned any gambling businesses from operating in states where online gambling was illegal. As a result, banks complied with this law, rejecting several transactions relating to offshore gambling. However, while the government might influence banks and other financial institutions, they cannot exert the same on Bitcoin. Overall, with Bitcoin, customers get to make their deposits and withdrawals without interference.
- Minimal fees
Bitcoin Cash Poker
The other good thing about Bitcoin is that it doesn’t come with any charges on deposits and withdrawals like banks. This saves money for both the players and the poker site, which was originally responsible for the withdrawal charges. With Bitcoin, gamblers instead only pay a significantly smaller fee to the miners when making withdrawals or deposits.
- Bitcoin is trending
There’s no denying now that cryptocurrencies are trending these days. They have sparked people worldwide, and now everybody wants to try this new currency in town. In a bid to attract these curious crowds, any newly developed online poker site or casino tries to capitalize on the trend, launching with a cryptocurrency provision.
Takeaway
Bitcoin Poker Freerolls
From the look of things, Bitcoin is clearly not going anywhere. For as long as the unregulated markets are present, there will be a place for decentralized currency in the online poker gambling realm. However, it is still less popular in the states where online gambling is legalized. There’s simply no need for it since most people in these countries can gamble already freely through other financial instruments.
It is also noteworthy that it is important to take care when gambling with unlicensed sites in states that have legalized gambling. Although Bitcoin and other cryptocurrencies may create an avenue for it, such states have regulations to protect their legal poker market and are quite vigilant in taking action against illegal gambling activities.
Follow our step-by-step video guide and in no time,
you’ll be depositing with Bitcoin!
Bitcoin 101: Get Into The Action!
Show more
What you need to know:
- Bitcoin is one of many digital currencies used to make purchases online, including making a deposit to your Ignition Casino account;
- This overview video will introduce you to everything you’ll need to start using Bitcoin.
What are the advantages of using Bitcoin at Ignition Casino?
- Every Bitcoin transaction is free at Ignition Casino – unlike credit cards, it won’t cost you more for deposits or withdrawals;
- Bitcoin (BTC) transactions are 100% guaranteed – never be discouraged by a credit card failure again;
- Cashing out your winnings has never been faster – from the approval of your request to your wallet in just minutes!
You get bigger and better deposit bonuses and offers.
What you’ll need:
- A Bitcoin wallet – allows you to store your Bitcoin and is where you’ll make transfers to and from Ignition Casino;
- An exchange account – you’ll use this to buy your Bitcoin and convert your winnings back to USD;
- A debit card – the most convenient and fastest method to purchase Bitcoin;
- Government issued ID –verification is required to set up and buy Bitcoin on your Exchange Account;
- Mobile phone number – wallets, exchanges and Ignition Casino may require this for secure SMS validation.
Important reminders:
- To open a wallet and exchange account; you’ll need to leave the Ignition Casino site; bookmark this guide so you can return easily;
- This guide specifically describes how to get started with Bitcoin (BTC) – if you’re using Bitcoin Cash (BCH), the same steps can be followed.
Step 1
Desktop Wallet: BlockchainMobile Wallet: Exodus
What you need to know:
- The anonymity of wallets ensures the security of your Bitcoin and allows you to spend privately;
- A Bitcoin wallet stores and allows you to transfer Bitcoin securely;
- Creating a Bitcoin wallet is free and takes less than 5 minutes.
How do I know which wallet is right for me?
- For your desktop or tablet, sign up for a Blockchain wallet;
- For your mobile device, download an Exodus wallet.
Your choice should be a Bitcoin wallet that suits you best, the options below are those that players have found are the quickest and easiest to set up:
Important reminder:
- You’ll need to open a separate page to create a Bitcoin wallet; bookmark this guide to easily return for next steps.
Step 2
Visit CryptoVantage to find an Exchange that's right for you.
What you need to know:
- Creating a Bitcoin Exchange is free and takes approximately 5 minutes;
- Verification times may vary, but usually only take a few minutes, depending on the information requested (ex. The last 4 digits of your SSN);
- A Bitcoin Exchange is used to purchase Bitcoin (BTC), it’s also where you’ll change your withdrawal back to USD;
- Exchanges charge small transaction fees – but these are much lower than current credit card fees;
- Creating an account with an exchange is like opening a bank account – verification is customary;
- Fees may vary depending on the exchange you choose.
How do I know which exchange is right for me?
- Visit CryptoVantage where you'll find some of the most trusted exchanges in the US for Desktop and Mobile users.
What you’ll need:
- Government issued photo ID – verification is a must upon sign-up;
- Proof of address may be required to validate if your ID does not indicate it.
Important reminder:
- You’ll need to open a separate page to open an exchange account; bookmark this guide to easily return for next steps.
Step 3
What you need to know:
- Steps to buy from an exchange can be found at the exchange you have chosen, likely in the FAQs section on the site;
- Purchase limits vary from exchange to exchange, up to $25,000 daily, for verified customers at some exchanges.
What you’ll need:
- A debit card you can use to purchase or transfer Bitcoin.
Important reminders:
- You must leave the Ignition Casino site to buy Bitcoin through your exchange account; bookmark this guide to easily return for next steps;
- For your privacy and security – do not refer to Ignition Casino or online gaming if asked to note the reason for purchase;
- Debit card purchases of Bitcoin are instant and suggested; a bank account purchase can take several days;
- Exchanges may offer many different crypto currencies; be sure you’re buying Bitcoin (BTC) or Bitcoin Cash (BCH) to deposit at Ignition Casino.
Step 4
What you need to know:
- Transfers normally take a couple of minutes to be confirmed;
- Your wallet may ask you to choose a transaction fee to complete the transfer; adjusting to a lower fee amount can result in a delayed transfer;
- For a visual example of how to send Bitcoin from your exchange to your wallet – watch the video above – the steps may vary a bit if you use a different exchange;
- Transfers between your exchange and your wallet are unlimited in both frequency and value.
Important reminders:
- Almost done – you must leave the Ignition Casino site to transfer Bitcoin from your exchange to your wallet; bookmark this guide to easily return for the FINAL STEP;
- Double check the currency before making your transfer to avoid any mistakes (Ex. Bitcoin (BTC) and Bitcoin Cash (BCH) are not the same currency).
Step 5
Making My Bitcoin Deposit At Ignition Casino
Show more
- Bitcoin 101:
The Basics - Opening my
Bitcoin Wallet - Opening my
Exchange Account - Buying Bitcoin With
My Exchange - Transferring Bitcoin
To My Wallet - Depositing Bitcoin
with Ignition
GO FOR MORE
Using Bitcoin For Online Poker
Score bigger and better bonuses when you deposit with Bitcoin.
- Bitcoin 101: