Due to the COVID-19 pandemic, more and more people are moving away from traditional live casinos and instead investing in online poker websites & casinos. This is because – with online casinos, you can start playing your game at the comfort of your home – without having to worry about slow payout times and high fees of live casinos. And with the introduction of Bitcoin, the process has become more seamless than before.
In case you’re unaware then you must know that BTC or Bitcoin is a cryptocurrency payment option that’s now accepted by most online card game websites and casinos. And as the payment option continues to gain traction over time, more players will start using it as well. Hence, if you’re a serious poker player, then you need to know how Bitcoin and Bitcoin casinos work so that you can start playing poker with BTCs.
What Do You Mean By Bitcoin And How Can You Obtain The Same?
Simply speaking, Bitcoin can be counted as a digital network that works on the cryptocurrency protocols and thereby records transactions happening on the ‘blockchain’. The blockchain is another name for a distributed ledger.
Bitcoin is usually obtained via mining, using powerful computers that compute complex mathematical problems. Hence, miners (who mine BTC using powerful computers) obtain BTC as a reward for completing a specific number of transactional blocks, which are then added to the blockchain.
It should be remembered that mining is indeed a very time-consuming & expensive procedure. Thus, most people who don’t have sufficient hardware to mine BTC will buy BTC in exchange for traditional currency like USD, INR or EUR from various Bitcoin exchanges. Such Bitcoin exchanges can also be used to purchase other types of cryptocurrencies such as Ethereum or DogeCoin.
The Benefits Of Using Bitcoin As A Payment Method To Play Poker
If you’re looking to play real money games like poker or 3 Patti play online, then using Bitcoin can be a good way to start your journey. The greatest benefit of using any cryptocurrency such as BTC instead of traditional currency is that – transactions will take place quicker. This is because cryptocurrencies use a P2P (Peer-2-Peer) system for transferring funds, which means you don’t have to wait for a third party to approve your financial transactions.
So, whether you want to play poker or test your skills at Teen Patti, you’ll have your funds ready to use whenever you like – within just a matter of mere minutes. Furthermore, withdrawals will also not take much time, meaning that you can enjoy your winnings faster. Besides, you must learn that Bitcoin tends to have low operational costs compared to traditional currencies.
Additionally, when you use cryptocurrency like BTC as the option, you won’t have to enter much personal information because cryptocurrency transactions remain anonymous. Hence, no third party can track any cryptocurrency transaction.
Another benefit you can enjoy with Bitcoin is that – since the value of Bitcoin rises over time – the value of your total winnings will also increase.
How Can You Start Playing Poker At A Bitcoin Casino?
Before you can start receiving or sending Bitcoin, you have to set up a Bitcoin wallet for the same. Your BTC wallet works in the same manner as your traditional bank account – except all transactions will happen online. There are various kinds of BTC wallets out there such as:
- Mobile wallets
- Hardware wallets
- Desktop wallets
The type of wallet you’ll be choosing will depend on multiple factors.
When you’ll be setting up your BTC wallet, you have to ensure that you first implement 2FA or Two-Factor Authentication. 2FA features add a layer of security from hackers because no person will be able to access your wallet without your permission.
Furthermore, you have to ensure that you keep your BTC wallet safe. There have been multiple instances in the past where people have lost all their stored Bitcoin after their wallets were either stolen or destroyed. Hence, to avoid destruction of your Bitcoin (particularly occurring with hardware wallets), you have to ensure that there’s a recovery plan as well.
Once you’ve finalised and set up your BTC wallet, you need to purchase some Bitcoin and deposit it into the same. After that, you’ll be ready to play poker with BTC online. But, before you decide to play poker with BTC on any online casino, make sure that you check the genuineness & reliability of the casino by reading user reviews & recommendations.
The Accessibility & Legality Of Bitcoins
Not every country across the globe has made cryptocurrencies legal. So, before you start using BTC as your preferred mode of payment & withdrawal, ensure that you’re completely within the rules & regulations of the country you’re currently residing in. We would certainly not advise using BTC illegally for playing poker in online casinos because illegally using a payment option can land you in major trouble later on.
However, if the use of cryptocurrencies like Bitcoin is allowed in your region or country, then it’s surely good news for your poker career.
There’s no denying that cryptocurrency is here to stay and in future, it can become a de-facto mode of payment for playing real money earning games in online casinos. Thus, it makes absolute sense if you can learn about the technology beforehand and become a forerunner in adopting the same as well. So, the next time you decide to play an online rummy game or any other real cash game, remember to utilise Bitcoin as your mode of payment.