Online poker and cryptocurrencies are two rising trends that, when combined, can revolutionize your playing style. From faster transactions and lower fees to global accessibility and enhanced security, this combination offers practical benefits for poker players.
Doing Away with Boundaries
Finding a good poker game is a common challenge for players. Even in countries where online poker is legal, depositing or withdrawing funds can be difficult. There is another type of restriction–players who reside in countries where online poker isn’t allowed. They, too, can benefit from the decentralized nature of cryptocurrencies and enjoy poker games without worrying about restraints.
These gaming sites, often referred to as no verification casinos, provide protection by removing the need for lengthy verification, requiring just the minimum of your personal details, while not compromising safety by providing cutting-edge security features.
Better Security with Blockchain Technology
Playing poker for real money involves sharing sensitive financial information, which can be risky. Cryptocurrencies use blockchain technology, a decentralized system that records transactions across multiple computers. Each transaction is encrypted, time-stamped, and added to a digital ledger that cannot be altered or tampered with.
As 99bitcoins explains: “Despite its reputation, Bitcoin is not completely anonymous.” The same holds true for other cryptocurrencies. Still, when there isn’t a single entity controlling financial data—sensitive information isn’t at risk of being hacked. That is a key advantage of decentralization. However, blockchain doesn’t slow down the process—quite the contrary.
Never Miss a Poker Hand
Poker players can’t afford to miss opportunities. If you’re invested in a game, the last thing you want is to lose your spot, just as you’ve gotten a feel for the room. Online poker rooms wait for no one; they’ll sit you out on the bench when tapped out, and you could miss vital opportunities. Cryptocurrency deposits are instant, which means you can refill your account in real time and stay in action.
Regarding transaction speed, gaming sites can’t control the delays caused by a bank’s slow approval process. Even if you prefer keeping your assets in fiat currencies, having the option to join the perfect table without missing a beat is a valuable advantage.
Better Deals with Fewer Fees
For regular poker players, deposit and withdrawal fees can quickly eat into your bankroll. Even if the gaming site doesn’t charge fees, your bank will. Credit and debit cards often take a 3%-5% cut on deposits, while e-wallets are slightly better, charging 1%-3%. However, transferring funds from your e-wallet to your bank can add extra costs, reducing your overall winnings.
Conversely, cryptocurrencies are designed to make life easier for players. Unlike credit and debit cards, which have added charges to discourage online gaming, transactions on crypto-gambling sites are straightforward and cost-effective. There are occasional exceptions, such as network congestion fees for Bitcoin and Ethereum, but many crypto alternatives, like Litecoin or Solana, offer faster and cheaper options.
3
