Bitcoins are considered tamper-proof due to the time-consuming and computationally expensive encryption technology. And eWallets for Bitcoins can be classified as more secure than Skrill or Paypal, depending on how you look at it.
A very big advantage is anonymity. Unlike a bank account, where detailed information about one's identity must be provided, Bitcoin accounts are anonymous. Transfers are also anonymous. On Bitcoin poker sites, it is usually sufficient to enter an email address to be able to play directly. Even for withdrawals, the usual identity check is not required. Those who play in a country where online poker or casino games fall into a grey area have additional protection here.
For poker players, there are a lot of good reasons to play poker with Bitcoins. The most important advantages of these are: Security, Anonymity, Costs and Speed.
There are no or only minimal transaction fees. With BTC poker rooms, deposits and withdrawals are usually free of charge. Only the purchase of bitcoins against euros incurs a fee. However, this is usually much lower than if you buy USD for EUR, and no comparison to the high costs if you use a Paysafecard or Paypal.
Transfers are very fast. Similar to eWallets like Skrill or Paypal, deposits can be made within seconds. Withdrawals are usually also very quick, within hours. The level of play at the tables is much lower than at the established poker sites.
Before you can make a deposit using bitcoin at online poker, you first need to purchase some bitcoins (or milli or micro bitcoins). The purchase is relatively simple and can be done in half an hour.
The Bitcoins are stored in virtual wallets (Bitcoin wallets). Once you have such a Bitcoin wallet in which you can store your cryptocurrency, you can buy Bitcoins. These are paid for with normal money, probably in euros. Once you have the digital currency, you can use it and deposit it at online poker sites that accept Bitcoins.
For example, many of the best bitcoin exclusive sites suggest promotion with getting one or two free bitcoins, which is equivalent to $250 or $500 bonus. There is Bitcasino in our list of the best bitcoin gambling sites. It offers 110% bonus on first deposit to all new customers. They also offer a 50% reload bonus which is equivalent to one bitcoin. Finally, the casino offers a 25% match on all the player's third deposit.
You will only need your sensitive bank details to purchase Bitcoins on marketplaces, but not in the online casino. Since there is no central bank behind Bitcoin, you therefore remain quite anonymous during transactions and also do not have to pay any fees to third parties. Deposits and withdrawals on poker sites are usually completely free of charge. At most, there are costs incurred by the poker site itself and, before that, by the exchange fee when buying the Bitcoins. However, these are quite small. However, it is always worth comparing the marketplaces for purchasing bitcoins in order to find the best offer.