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Bitcoin & Poker Sites: 4 Key Takeaways

Posted on March 5, 2021 | Comments Off on Bitcoin & Poker Sites: 4 Key Takeaways

Online poker has never been more popular than now. One of the reasons is the expansion of payment options that made online money transactions easier than ever. The game-changing element is Bitcoin, which is now accepted on a wide array of poker sites. If you’re new to the world of online poker and you already have some BTC that you’re willing to use as a deposit method, make sure to read our short guide, where we’ll cover the four most important things you need to know before joining a BTC online poker site.

Limits Are Better with Bitcoin

Every USA legal poker site has deposit and withdrawal limits. These are mainly determined by the method of your choice rather than the site itself. However, Bitcoin doesn’t have upper limits, meaning you can technically send all your BTC wealth in a single transaction. This isn’t really possible in online poker sites, but you’ll still have more freedom when it comes to how much money you can deposit.

For instance, if the upper limit for credit card deposits is $1,000, Bitcoin deposits can probably go up to $10,000.

This is individual for every poker platform, but the point is that using BTC is much better if you want to roll high.

Transactions May Not Be as Fast

Bitcoin is widely regarded as a fast payment method. However, it’s still a bit slower compared to some other options, such as credit cards or e-wallets. Depending on the current state of the network, you might have to wait up to 20 minutes before your funds arrive in your online poker balance. On the other hand, it’s much faster compared to traditional banking methods that take hours — if not days — before they are processed.

Fees Are Almost Non-Existent

Since there are no intermediaries making transactions available on the Bitcoin blockchain, it means the fees are much lower compared to traditional banking methods. The only thing you should take into account is that fees might change depending on the current price of BTC. Either way, no other banking option charges as little as BTC.

Bitcoin is Volatile

The value of BTC changes pretty often, and that’s another thing you should take into account when making deposits and withdrawals. Make sure to check out the current price of BTC before making any big transactions.

If you use Mac, make sure to check out the best website for Mac poker.

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