Just for a moment, imagine there was a secure way to fund your online poker account with close to 100% anonymity even at restrictive markets. At the beginning of the 2010s, people playing online poker might have said it’s just a fantasy. Yet, with Bitcoin going mainstream, it’s anything but a fantasy! As you will see, nowadays it’s almost an industry standard to offer BTC as a payment method for online poker.
List of online poker sites accepting Bitcoin payments
You can set up a Bitcoin wallet anywhere in the world to make deposits at online poker rooms accepting BTC. In fact, the poker industry has greatly benefited from the rise of Bitcoin, giving a chance to play online for many poker lovers who don’t have access to traditional payment methods. Here’s a list of popular poker sites where Bitcoin is accepted as a payment method for real money games:
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What is Bitcoin
Bitcoin is the most popular cryptocurrency in the world. First introduced in 2009, it’s a digital currency created by an anonymous inventor who goes by the name Satoshi Nakamoto. It’s the first digital object that cannot be duplicated or forged. Every Bitcoin is mined from blocks which are pieces of information that cover the transactions within a time period, roughly 10 minutes. The first block called the genesis block was generated in January 2009.
The amount of Bitcoin is capped, which means that Bitcoin is a scarce cryptocurrency. All of these attributes give Bitcoin its unique value, which has been recognized by the mainstream media and investors as well, resulting in astronomical growth in price.
If you’re interested in learning more about Bitcoin, here’s a helpful video on the topic:
What are the different types of Bitcoin poker sites
- Bitcoin-only poker rooms: These Bitcoin poker sites operate in BTC which is the only payment method and currency used at the real money tables for playing Bitcoin poker. There’s no currency conversion at any point when you play at bitcoin-only poker sites.
- Poker sites that accept Bitcoin: These operators allow you to deposit and withdraw in BTC, and the games occur in a currency like USD, GBP, or EUR. Whenever you make a deposit or a cashout, your amount is converted using a real-time currency conversion rate.
Compared to the number of rooms that accept Bitcoin payments, there are much fewer poker sites where you can play Bitcoin poker games without currency conversions. If you want to play poker tournaments with millions of dollars in guaranteed prize pools, your best bet is to choose a poker site accepting bitcoin payments, but offering the poker games in a fiat currency like dollars or euros.
Using Bitcoin in online poker
Although we could dive into great detail about the advanced technicalities of Bitcoin, the most important thing for a poker player to understand is how you can safely deposit and withdraw with Bitcoin. Here’s a quick video guiding you through a Bitcoin deposit at a poker room called Americas Cardroom:
How to download a Bitcoin wallet
Pros and cons of using Bitcoin in poker
Online vs offline BTC wallets
Many poker players have asked us what type of BTC wallet to use for online poker. Online wallets or hot wallets are the easiest ones to use: You just log in, make your transaction and log out. The downside is that online BTC wallets are not as safe as offline wallets, due to possible hacks. For this reason, we recommend using online wallets for those who need to move just tens or hundreds of dollars. Here’s a list of examples of online wallets:
For larger amounts, it makes sense to set up and use Bitcoin hardware wallets to store and move your BTC. Offline wallets or cold wallets are the best choice for maximum protection and security, although they need a bit more technical knowledge to operate. The best Bitcoin offline wallets are:
What are Bitcoin deposit and withdrawal limits at poker sites
When it comes to accepting deposit limits using Bitcoin, most of the poker sites have very low thresholds for players who want to try out poker. Here’s a list of deposits limits at popular poker sites that accept Bitcoin:
While withdrawal limits with Bitcoin are typically unlimited, some Bitcoin poker sites have restricted the maximum amount you can withdraw in one transaction. There’s an easy way to overcome this if you happen to win huge: Just make multiple withdrawals to move the Bitcoins to your wallet in several chunks.
Are there poker bonus offers for Bitcoin deposits
Plenty of real money poker sites offer their customers a welcome bonus when making their first deposit with Bitcoin. Some rooms give you the welcome bonus in fiat currency like USD, and others in Bitcoin. If you wish to receive a deposit bonus when you make your first deposit, just choose one of the poker rooms from our list of Bitcoin-friendly poker sites at the top of this page.
How to cash out from a poker room with Bitcoin
You can make a cashout with Bitcoin with these three steps:
- Go to the cashier of the poker site and click withdrawal
- Choose Bitcoin as the withdrawal method and enter the sum you wish to cash out
- Enter your BTC address and click confirm – your money should be on the way to your Bitcoin wallet in no time!
Johannes is the Editor in Chief at Beasts Of Poker and is an expert in both live & online poker. Johannes played online poker semi-professionally for 5 years while completing his Master’s Degree in Technology.