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There are a number of advantages to playing at an online poker room using bitcoin and other cryptocurrencies, the most important of which perhaps are the low fees. Online poker rooms like Americas Cardroom now offer close to 60 options for funding a betting account and receiving payouts.
- First, it’s the cheapest way to fund your account. With the exception of the miniscule “miner’s fee,” there are no transaction fees whatsoever.
- Second, Bitcoin is faster than any other payment method. There’s no waiting for transactions to clear: as soon as your deposit is verified, your Bitcoins are converted to poker chips in your account.
Some credit card issuing banks do not allow their cards to be used for gambling transactions. As such, bitcoin offers an excellent alternative.
Simply sign up with a cryptocurrency exchange (Coinbase is among the most popular) that operates from your country. Submit the required identification. Typically the exchange will pull two micro-deposits of around 2 to 10 cents from your account. Once the account is verified it can be linked to the cryptocurrency exchange. You can then send and receive money through the exchange, converting to bitcoin (for betting) and back to your normal currency (when receiving a payout).
It is advised to utilize a secure cryptocurrency wallet as an intermediary. Our friends at Americas Cardroom provide all the information you need to know here.
- Ace King, Gambling911.com
