If you are interested in using bitcoin to play poker or any kind of online games then you will need to follow a few steps. Once you have gone through these steps you will see why bitcoin is becoming more and more popular.
- Get a bitcoin wallet – A “wallet” is a program where you can store bitcoin. You are going to need one and get familar with the basics. Here is a good list of wallets https://bitcoin.org/en/choose-your-wallet. We recommend Multibit or Electrum for new users.
- Buy some bitcoin – You are going to need to exchange dollars or another currency for bitcoin. You can buy bitcoin from an exchange, ATM, or P2P from someone in person. The easiest place for Americans to buy bitcoin is Coinbase. The only issue is that they will close your account if they find out you are sending bitcoin to an online casion and after some time they will start asking questions about the source of your income that you used to buy bitcoin. If you do buy bitcoin from Coinbase then do not send directly to an online casinon and instead send it to your own wallet, and then from there to the Casino. If you are comertable with bitcoin then try out localbitcoins and buy from someone in your area for cash. If you are buying bitcoin regularly then you might want to think of a international wire transfer to an offshore bitcoin exchange like bitfinex. Here is a list of exchanges http://explainbitcoin.com/where-to-buy-bitcoins/
- Send bitcoin to the sports book – You will get a bitcoin address in your account that you can send bitcoin to. Depending on the sportsbook it will take anywhere from 1-10min to an hour to have your deposit confirmed.
There are number of bitcoin poker sites offering bonuses to entice new players poker bitcoin deposit at their room.
First Deposit Bonuses
Many poker sites will offer first deposit bonuses (also referred to as a ‘Welcome Bonus’) as a reward for new players who choose to make their first deposit. Bonuses are always listed as a percentage, which indicates the amount of the deposit which is ‘matched’ and a limit, the most that a user can claim as a bitcoin bonus.
For example; a 50% deposit bonus up to 1BTC would mean that a deposit of 2BTC would receive a bonus of 1BTC (on top of the desposit). A deposit of 3BTC would also give a bonus of 1BTC as this is the limit provided.
Reload Bonuses
Reload bonuses follow the same rules as first deposit bonuses. They allow a player to match a percentage of their bitcoin deposit with a bonus up to a limited amount. The term ‘reload’ simply refers to a deposit after your first deposit. While a reload bonus often applies only to the deposit made after your first deposit, it could apply to every following deposit – please read the poker site’s terms and conditions for clarification on this.
No Deposit Bonuses
A no deposit bonus is music to the ears of any bitcoin poker player. This bonus is exactly what it says on the tin, simply sign up with an account and receive a bonus without needing to make a single deposit. Often these bonuses are small in size, but they do allow new players to become familiar with the poker site before making a real bitcoin deposit. Of course these bonuses are also a little tougher to ‘unlock’ and can require a very high ‘rollover’.
Giveaway Bonuses
Giveaways are not all that common in bitcoin poker land, but they do happen occasionally and when they’re live we will publish them here. A giveaway is typically a single prize that is given to a random player at any active bitcoin poker table at a set time or time range. Some poker sites offer much larger giveaways and schedule them on a weekly or monthly basis.
People are getting more and more acquainted with digital currencies that cannot be seen or held in hand per se but can easily and efficiently be used for transactions.
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