Bitcoin poker is a way of gambling that appeals to some people as a way to gamble with a lesser feeling of risk of losing one’s own cash money. It is fairly easy to start bitcoin poker and a lot of good sites are also available for playing crypto poker. Taking a look at the pros and cons before trying any new thing is a must, so let’s take a look at the pros of poker using cryptocurrency. For starters, setting up and starting to play is a lot easier and simple than normal ones.
Also, the efficient way of cashing out your winnings means that the fees are usually lower than the normal gambling using cash which can be fairly costly and take a long time owing to the fact that your bank needs to approve of the transactions and might charge a fee for that additionally. For example, any funds deposited or withdrawn using various widely used payment options such as credit and debit cards incur transactional fees which are borne by the players. The time-lapse between submitting a withdrawal request and receiving it can be as low as 5 minutes and up to 1 day which is great when seeing that normal withdrawal takes 2-3 days on an average. Bitcoin has made way for better bonuses and lower rakes when compared to those charged by poker sites using other payment solutions. This is possible due to lack of taxes and transaction fees charged by intermediaries. For example, first deposit bonuses in gambling platforms using bitcoin can range anywhere from 1 BTC to 5 BTC which is way more than a couple of hundred dollars offered by regular online gambling platforms.
The ease of use and leverage of blockchain technology which is inherent in bitcoin ensures that anonymity for players is another pro of crypto poker. Your transactions using bitcoin do not give away any details as there is no bank acting as an intermediary. You have to provide your details only when you are buying bitcoin to use on these platforms which ensures optimal safety and security. Sometimes, online gambling is illegal in some countries so if you don’t want to break any laws you should consult your local laws and may find that this ban only applies to gamble using your country’s currency. It means gambling using bitcoin might not be restricted and you can gamble freely without any regulations to make it problematic. Also, having a secure bitcoin wallet also makes it safer than traditional poker as it is less prone to hacking and identity theft using your details and personal information which has to be provided during any transactions. Bitcoin gamblers also have the additional benefit of potentially getting more out of a bet because the high demand for BTC has led to an increase in its value and you could wait and look for the favorable market value of bitcoin for cashing out which means you’ll get more money.