Best Cryptocurrency Poker Sites
In 2017 cryptocurrency has become a global phenomenon with enormous importance. There is a reasonable chance that cryptocurrencies will replace fiat money and become the money of the future.
The blockchain technology, which cryptocurrencies are based on, is a brilliant invention that has the potential to change everything, so it is better to inform yourself now instead of potentially missing out.
That’s why the purpose of this page is to educate and give a good understanding about cryptocurrencies as well as to introduce you to the best online cryptocurrency poker sites.
We will keep you up-to-date with the latest cryptocurrency poker news and rooms and inform you about current ICOs, upcoming Bitcoin or Ethereum Poker Sites as well as the best rakeback deals and poker bonuses for all available cryptocurrency poker sites.
What is Cryptocurrency?
Cryptocurrency is a form of digital money that uses cryptography, which is the process of converting information into an almost uncrackable code.
All Cryptocurrencies are based on the revolutionary blockchain technology, which is a decentralized and completely transparent system.
In other words, the blockchain is an incorruptible digital ledger that can be programmed to record not just financial transactions but virtually everything of value.
The first and most well-known cryptocurrency is Bitcoin. It was invented in 2009 by Satoshi Nakamoto.
There has been a massive increase in cryptocurrency in recent years. Currently 1373 different cryptocurrencies and coins are being publically traded on big cryptocurrency exchanges such as Binance, Bittrex or Bitfinex.
How to buy Cryptocurrency?
First of all you need to download a cryptocurrency wallet to be able to buy Bitcoin or altcoins such as Ethereum, Litecoin, Dash or Bitcoin Cash.
We highly recommend BitPanda/Coinimal, which is Europe’s best and leading service to buy and sell cryptocurrencies. To register at BitPanda and open up a cryptocurrency wallet is very easy and should not take longer than two minutes.
Ewallets are very popular among poker players and on top we offer the best cashback deals for NETTELLER and Skrill on the internet!
Once you have bought your preferred cryptocurrency, you simply choose your favorite poker site from above, select Bitcoin, Bitcoin Cash, Ethereum or Litecoin as deposit method and start playing.
Which Cryptocurrencies are accepted by Poker Sites?
The four biggest cryptocurrencies: Bitcoin (BTC) as well as its hard fork Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC) are accepted as payment option for deposits and withdrawals by several different online poker sites.
Bitcoin is still by far the most accepted cryptocurrency now by online poker sites. However, Ethereum is keeping up big time as all the upcoming projects and new Cryptocurrency Poker Sites such as Coin Poker and Virtue Poker are build on the Ethereum blockchain.
The third cryptocurrency, which is accepted as payment option by a couple of online poker rooms is Litecoin.
Litecoin is a so-called altcoin, which was created in 2011 by Charlie Lee. It is part of the Lightning network and much faster and cheaper than Bitcoin.
The Best Bitcoin Poker Sites
The question what is the best Bitcoin Poker Site is almost impossible to answer as it depends heavily on your personal taste and preferences.
It is however possible to narrow down the range to a handful online poker sites and the widget below will help you to quickly find the best Bitcoin Poker rooms currently available.
We highly recommend the following Bitcoin Poker Sites: Winning Poker Network (Americas Cardroom and Black Chip Poker), Tonybet, Red Star, Bovada as well as Bodog Poker.
All of the above have been tested intensively by our team consisting on professional online poker players. We have taken all important features such as traffic, software, security, rakeback and promotions into consideration and came up with this list.
The Best Ethereum Poker Sites
The Winning Poker Network (WPN) has added Ethereum Withdrawals on the 15th of November. That means, you are now able to cash out your poker profits from Americas Card Room and Black Chip Poker in Ethereum!
In addition to that, there are currently two massive Initial Coin Offerings (ICOs), which will launch as online poker sites soon namely CoinPoker and Virtue Poker. Both of them will run on the Ethereum blockchain.
While CoinPoker is backed big time by the founder of Pokernews and Member of European Parliament Antanas “Tony G” Guoga, Virtue Poker has already added poker legends Phil Ivey, Brian Rast and Dan Colman as poker pros and ambassadors.
Other Cryptocurrencies accepted by Online Poker Sites
Bitcoin Cash (BCH) is a relatively new cryptocurrency, which was created by a Bitcoin hard fork on the 1st of August 2017.
By setting the block size limit to eight megabytes the number of transactions its ledger can process was increased heavily. Bitcoin Cash is much faster and cheaper to use than Bitcoin, that’s why some people believe it could replace Bitcoin in the long-term.
Bitcoin Cash is also available as withdrawal option at Americas Cardroom and Black Chip Poker. The same goes for people’s favorite altcoin Litecoin.
In addition to that, the Winning Poker Network and their flagship skins Americas Cardroom and Black Chip Poker announced that they will soon accept nearly 70 different cryptocurrencies for deposits and withdrawals.
This will make Americas Cardroom and Black Chip Poker the most enthusiastic supporter of cryptocurrencies in the world.
Can I get Poker Bonuses when using Cryptocurrency?
Of course you can and much bigger ones than using normal cash and fiat money!
A lot of online poker rooms are already endorsing the use of cryptocurrencies by offering massive cryptocurrency poker bonuses when you use Bitcoin, Ethereum or Litecoin to make a deposit.
Some online poker sites are even offering special Bitcoin Poker Bonuses of 100% up to $1,000!
Are Cryptocurrency Poker Sites legal?
One question that is on most people’s minds is whether or not playing online poker using cryptocurrencies is legal in their country? The answer is quite frankly: YES!
This question is particularly valid for countries, with an unclear legislation such as the USA.
It is very important to note that neither the IRS, nor the Department of Justice has said and done anything against cryptocurrencies, although they are very aware that people are using Bitcoin to play online poker and that they convert their winnings into US Dollars
Please Note: Playing online poker using cryptocurrencies is as legal as using cash and much safer!
What are the advantages of Cryptocurrency Poker Sites?
First of all, cryptocurrencies are the perfect form of poker payment as they have no or very low fees and are almost instantaneous.
In fact, it is much safer to use cryptocurrencies as they are encrypted and decentralized, which means they have no central bank or other institution controlling them.
Cryptocurrency is anonymous and absolutely transparent making them a perfect fit for online poker.
Cryptocurrencies are the cheapest way to fund your poker account. Except for a miniscule “miner’s fee,” there are no transaction fees at all!
The time you have to wait for your withdrawal/cashout is finally over as cryptocurrencies are faster than any other payment method! The moment your cashout is verified, the money is already available at your bank account.
But that is not all, not by a far margin as there are several advantages of Cryptocurrency Poker Sites:
- Much Lower Fees: Except for the tiny Miner fee, you don’t pay any fees for your transactions!
- Cryptocurrency Poker Sites are safer and transactions can’t be manipulated.
- Decentralization: Cryptocurrencies are managed and controlled by a whole network and not only by one central authority such as a Central Bank.
- Identity Theft: Only send exactly what you want without further information
- Payments are settled immediately.
- Access and availability for everyone that has internet ensures social equality.
- Cryptocurrency operates at an universal level and makes transactions very easy.
What are the disadvantages of Cryptocurrency Poker Sites?
Although the advantages of Cryptocurrency Poker Sites clearly outweight the disadvantages, there are some smaller downsides of cryptocurrencies.
We have listed the disadvantages of Cryptocurrency Poker Sites below:
- The lack of widespread adoption causes thin markets and high volatility.
- The market is unregulated means the regulatory framework is incomplete.
- Capacity limits, which are currently being addressed by micro-payment channels,
- It is difficult to understand the issues that cryptocurrency miners are dealing with.
- Having to deal with naysayers, fear, uncertainty and doubt.