Where Can I Get Bitcoin to Play Online Poker? (Part VI)

Written by:
Ace King
Published on:

In this article we look at ways of obtaining Bitcoin in order to play online poker.

Before reading any further we suggest checking out the first article in this series - How Do I Use Bitcoin to Play Poker Online

Watch the video below then we will explain why Bitcoin is great to use with Internet poker rooms like Americas Cardroom, which offers up to $1000 in FREE BONUS MONEY.

Also See:

How Fast Does It Take To Get Paid Using Bitcoin?

How Much Bitcoin Do I Need to Play Poker Online?

How Much Bitcoin Do I Need to Play Poker Online?

The Pros of Using Bitcoin to Play Online Poker (Part IV)

The Cons of Using Bitcoin to Play Online Poker (Part V)


Obtaining Bitcoin to Play Online Poker

There are investors and then there are those who wish to use Bitcoin as a simple means of transferring funds to and from an online poker site.

Investors can purchase Bitcoin at what are relatively low prices ($3500) compared to the $19000 we were seeing this time last year.  For players these prices mean little unless there are fluctuations during the transfer process.

For the poker player, you will obtain Bitcoin by simply connecting your bank account or PayPal to an exchange available in your country of residence. 

Once money is moved into the exchange, simply convert into Bitcoin. 

So let's say you wish to exchange USD$500 into Bitcoin via the exchange so that you can send to the online poker room.  At the current conversion you would be sending 0.13 Bitcoin to the site. 

Now let's say you win $1000 with the online poker room and want to cash out with Bitcoin.  At the current conversion rate, you would be receiving 0.25 Bitcoin.  This can be converted to USD via the exchange and it will become $1000 that can immediately be sent to your bank account.  It typically takes between 1 and 3 business days to hit your account depending on the bank.  Keep in mind that once you convert back to USD, your funds are no longer subject to any Bitcoin price fluctuations. 

Some folks get intimidated when they see that a single Bitcoin costs $3500.  Don't be!  Think of it this way: There was a time when 50 Cents could get you some nice goodies whether it be a cup of coffee, maybe even a soda.  In the case of Bitcoin, 0.13 can get you a nice pair of shoes and a custom suit.  Again, that 0.13 is equivalent to USD$500.  There is never a need to buy one single Bitcoin (i.e. costing $3500).  Think of Bitcoin like gold.  A chunk of gold may be worth USD$3500.  A piece of that gold is worth USD$500.  You are typically playing online poker with PIECES OF BITCOIN.

We suggest using a secure wallet as an intermediary between the exchange and online poker site.  Never send or receive funds directly between the Bitcoin exchange and online poker site.

Ready to Start Playing - Learn More About Americas Cardroom Here

- Ace King, Gambling911.com

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