Bitcoinpoker.org is the largest resource for playing online poker with bitcoin currency. This website reviews and compares the World’s most popular bitcoin poker rooms and lists any available bonuses, offers and rakeback. If you’re unfamiliar with bitcoin as a virtual currency then read our FAQ; if you know what you’re doing then begin comparing rooms by visiting our list of bitcoin poker sites.
Why Play Poker with Bitcoin?
Bitcoin is a virtual currency; it has no intrinsic worth but its global adoption has made the currency very valuable. Bitcoin transactions are made outside of the traditional banking system and so there is no regulation and no centralized authority. This decentralization of the currency means that players who once had difficulty depositing and withdrawing from online poker rooms are now able to.
Bitcoin is not considered to be a legal currency by law. It is the same as playing poker with match sticks, except these matchsticks can be sold on an exchange for real money. This ability to make anonymous deposits and withdrawals with bitcoin is what makes playing poker with the currency so appealing to so many.
The lack of a central governing body for bitcoin means that transactions are not only made easily, but cheaply as well. The low transaction costs are passed onto the players in the form of extremely low rake charges. Seals With Clubs rake as little as 2.5% of the total pot size and cap at 0.05BTC.
Bitcoin Poker Explained
For the most part, playing poker with bitcoin is identical to playing poker with real money; however there are two major differences.
To make bitcoin transactions more flexible, one bitcoin can be broken down into much smaller amounts. For example, it is possible to send and receive 0.00000001 of a bitcoin, but this does also make the thought of a poker table 0.00000001/0.00000002 blinds very confusing. EU poker rooms will often allow bitcoin deposits to play with € chips; however US poker rooms will often simplify bitcoin chips. For example, Seals With Clubs have chips, where 1000 chips is equal to one bitcoin. This means that blinds listed at 1000/2000 is just 1BTC/2BTC.
Deposits & Withdrawals
Making transactions with bitcoin is fast. You will often find that deposits and withdrawals are made instantly and without trouble. However, to be able to deposit and withdraw in bitcoin, you will need to have a bitcoin wallet on your harddrive and be familiar with your chosen bitcoin exchange.