The Real Benefits Of Playing Poker With Crypto
Poker is a game loved by millions all over the world, and with the rise of cryptocurrencies, especially in the past few years, there is an opportunity for the two to be combined. Many online poker casinos now offer cryptocurrencies as a form of payment, and many have taken advantage of this. In this article, we’ll explore what that means for gamblers and what the benefits are.
How Does Poker Work With Cryptocurrencies?
Cryptocurrency poker allows players to play poker as usual but with their stakes placed using a virtual currency instead of a fiat one, such as dollars, pounds, or euros. While this was once something that was never really offered by online poker houses and casinos, this has become more common as the uses of cryptocurrencies have become increasingly mainstream overall.
There is a growing acceptance of using cryptocurrencies in the real world. Whether it’s using virtual currencies to gamble, pay for services and goods online, or as a way to invest, the uses are expanding and are expected to grow further moving forward. Gamblers can now make the most of their online wallets and use their various cryptocurrencies to pay for online gaming.
There are also clear advantages, with cryptocurrencies and poker being a match made in heaven. Although not always the case, using cryptocurrencies when playing poker removes many of the barriers many experience, including geographic location, deposit and withdrawal limits, and privacy for those who do not want their online gaming activity to become common knowledge.
What Are The Main Advantages Of Using Cryptocurrencies?
While the use of a cryptocurrency won’t have a significant impact on playing poker online, and gamblers can still play the game they love without experiencing much difference, there are clear benefits to doing so. Below we’ve listed just a handful of benefits that are most popular with poker players and give us a better understanding of why more online casinos are accepting cryptocurrencies now.
Privacy When Gambling
For whatever reason, many poker players don’t like their hobby to be common knowledge, and this is understandable. There is an added layer of privacy by using cryptocurrencies instead of fiat cash. Many banking institutions often take a negative view of gambling and this can have a negative impact on credit scores, which can be harmful to loan and credit applications.
A Clear Paper Trail
Because all transactions are stored on the infamous blockchain, using secure and verifiable technology, poker players can be sure that their transactions are safe and accessible. In the event that a transaction is brought into dispute, the poker player can use the blockchain ledger to make their point beyond a reasonable doubt. This helps all parties feel assured and much more relaxed.
Lower Average Costs
As you might be aware, online transactions that make use of the existing fiat currency infrastructure can incur high costs that, although paid for by the vendor, are often passed onto the end user. This can make online poker playing significantly more expensive and reduce the amount of money they can bring home; if they are successful and win their games, of course.
Because cryptocurrencies use blockchain technology, the cost to access this infrastructure is much more affordable. There are no middlemen or intermediaries who will benefit from adding costs at various points in the payment process. Whether it’s making the buy-in more expensive or charging you to withdraw your potential winnings, traditional banking often costs the player more.
Play Wherever You Are
Sometimes it’s not always possible to access your favorite gambling app or website. Depositing money into your account can sometimes be blocked by your bank, even if you use a VPN to access the sites themselves. By using a cryptocurrency to deposit funds, you can bypass this blockage altogether and play no matter where you are, free from the usual time delays that are sometimes annoying to poker players.
Although this can be convenient for some players in certain areas who face patchy access to online poker sites, for others, this can be the difference between playing and not playing altogether. The anonymity of the cryptocurrency method also means that you are much less identifiable. This adds a sense of security and privacy that can provide peace of mind.
So, Are You Convinced?
Although it may seem alien at first, playing poker online using cryptocurrencies instead of traditional fiat banking can open many more doors and provide security and discretion that would otherwise not exist. What’s more, your winnings can drastically increase in value should your chosen currency experience a sudden rise in price, though this can’t ever be guaranteed.