What is Crypto Poker?
Crypto poker is online poker played with cryptocurrency deposits and withdrawals. Bitcoin, Litecoin, Ethereum, Dash, Ripple, Bitcoin Cash, and Bitcoin SV are the most common crypto payments used. When you fund your account and accept payouts with crypto, it opens the door to the safest, fastest, most private, and most verifiable types of transactions.
Bitcoin Poker: Pros and Cons
Bitcoin isn't the easiest method for beginners, but it offers an instant payment method with world-class privacy and safety. Since exchange rates fluctuate constantly, it has the potential to increase in value relative to your local currency while in your poker account.
- Anonymous and secure, perfect for those who value their privacy when playing poker online.
- A good method for players who are otherwise restricted, or who live in jurisdictions where other payment methods are not available for online gambling.
- It's possible to profit from the highly volatile nature of Bitcoin.
- Fast transaction times at Bitcoin poker sites.
- Low fees when compared to other forms of transacting, on both the deposit and withdrawal sides. The best Bitcoin poker rooms online have no fees.
- Great for those who already conduct business in bitcoins online.
- More technical to use and understand than other payment methods. Requires a special wallet.
- The need to buy and sell the currency adds additional complexity and time to the setup process.
- Must move funds from your crypto wallet to your bank account or credit card if you wish to spend it offline.
- Bitcoin is volatile and there's potential for losing a serious amount of your bankroll by doing nothing.
Bonus Offers with Bitcoin Poker
Bitcoin and crypto bonuses are better than comparable offers for credit cards. Online cardrooms prefer to deal with crypto players, because the process is faster and requires less verification. For that reason, poker sites might offer a $1000 bonus for credit card and a $1250 Bitcoin bonus for the various crypto deposit methods. The numbers vary from one poker site to the next, but it's almost universal that Bitcoin players receive the best bonus offers and promotions on the site.
Terms to Know for New Cryptocurrency Poker Players
Players who are new to Bitcoin poker should take a look at our crypto poker glossary. This should familiarize you with terms that will be helpful to know when you play poker with Bitcoin.
How to Start Playing on Legal Bitcoin Poker Sites
Playing at Bitcoin poker sites is a little different than using a credit card or e-wallet for online poker. It takes a couple of extra steps — getting a Bitcoin wallet and buying Bitcoin at an exchange — but is safer, more private, and more transparent than other methods. Once your wallet is set up, it's much faster than traditional poker payment methods.
How to Make Bitcoin Deposits
Deposits via Bitcoin are reasonably straightforward, once you've signed up for a Bitcoin wallet or mined your first coins. Still, we provide a guide to crypto poker deposits.
- Get a Bitcoin Wallet: Choose a Bitcoin wallet from among options like CoinBase, Exodus, Mycelium, or Trezor. Make certain it's accepted at your Bitcoin poker room.
- Buy Bitcoin Currency: Buy bitcoins at a crypto exchange like CoinBase, Kraken, or Binance. Buy enough to make a minimum deposit at a poker site.
- Make a Deposit: Sign in to your Bitcoin poker site account, then go to the Cashier page and choose Bitcoin as your payment method. Verify the amount.
- Collect Your Bitcoin Bonus: If required, use a bonus code to receive your crypto bonus.
- Fast and Free: Crypto poker deposit fees are generally non-existent and the processing times are usually ahead of other payment methods, given the lack of risk involved.
How to Make Withdrawals at Bitcoin Poker Sites
Withdrawal processes are similar. Bitcoin poker withdrawals are faster than most other methods, such as credit cards and bank wire transfers.
- Visit the Poker Site: When it's time to collect your winnings, make a withdrawal request. Choose Bitcoin as the payout method and verify.
- Wait for Bitcoin Payment: Wait a short time for the payment to arrive in your wallet. Check the blockchain if you have questions about the Bitcoin withdrawal.
- Payout Times Are Reduced: Withdrawal times are significantly shorter for Bitcoin and other crypto deposit methods. They can be as short as 15 minutes up to about 2 days. 1 to 2 hours is normal.
- No Withdrawal Fees: Most US Bitcoin payouts don't require a fee. Web wallets and bank transfers cost up to 3% of the transaction.