How Bitcoin is Changing the Face of Internet Poker

pokerplaya (25)in #poker • 6 years ago (edited)

Depositing and withdrawing money from your internet poker account used to be a tedious ordeal. In the days of Ultimate Bet Poker, Phil Helmuth’s old brand, I remember having to go down to the local King Soopers to send a money order to some obscure address in the Philippines. Then I would go home and wait half a day to receive a confirmation email that Sanjay Isouzaphone of Manila had accepted my money transfer, and I was funded for online play minus a substantial fee. The odd part was that the poker servers were based in Gibralter. A sketchy situation that made me feel like a felon every time I re-upped my account.

Depositing and withdrawing money from your internet poker account used to be a tedious ordeal. In the days of Ultimate Bet Poker, Phil Helmuth’s old brand, I remember having to go down to the local King Soopers to send a money order to some obscure address in the Philippines. Then I would go home and wait half a day to receive a confirmation email that Sanjay Isouzaphone of Manila had accepted my money transfer, and I was funded for online play minus a substantial fee. The odd part was that the poker servers were based in Gibraltar. A sketchy situation that made me feel like a felon every time I re-upped my account.

This is where the beauty of Bitcoin funding comes in. Some of my preferred Poker Sites are now accepting Bitcoin deposits and withdrawals. This form of commerce offers several advantages over other money transfer options.

Immediate deposit to your poker account. No waiting around, once you send Bitcoin from your wallet to the host’s wallet you are ready to play. This literally takes a matter of seconds and about two clicks to accomplish.
Complete anonymity. Bitcoin transactions are completely anonymous, it is one of the primary features of the currency. The only information that you render in a Bitcoin transaction is your encrypted wallet account number. A number that would take 10,000 years to crack using modern decryption software.
Immediate withdrawal directly to your Bitcoin account. Withdrawals are as easy and fast as desposits. Literally two clicks and the funds are back in your personal e-wallet . No waiting for funds to settle or your bank to open on Monday to receive your money.
Bitcoin is actually an investment. Bitcoin value has been going up since it’s inception in 2009 and is actually traded on the U.S. stock exchange. Bitcoin value has gone up from .01 cents to over $19000 and now sits at around $9340 per coin.
Poker sites now offer exceptional bonuses for using Bitcoin transfers. The costs associated with banking commerce do not apply, which saves the site money and allows them to offer up to 100% matching bonuses on deposits. America’s Cardroom and Ignition Casino (formerly Bovada) are two of the biggest poker rooms that offer Bitcoin transfers with generous bonuses.

Setting up and funding a Bitcoin wallet is easy. I use Coinbase at https://www.coinbase.com/join/57c517a4e7657f0149af7d1c.

While there are many other options online, I find that Coinbase offers the most user-friendly set-up and e-wallet interface, especially for new Bitcoin users who just want an easy and accessible online wallet in minutes. Coinbase takes care of the technical stuff and allows its clients immediate transaction ability.

It is important to pursue every advantage in poker, and this includes funding and managing your money online. Switch to Bitcoin and deposit to your preferred poker site and you will gain an immediate edge in your online poker experience.