Bitcoin

Bitcoin is the most well-known cryptocurrency in the world. Over the past few years, the currency has exploded in popularity, with more and more people investing in it and using it to play bitcoin poker. As a result, many online poker rooms now accept bitcoin and other cryptocurrencies as deposit and withdrawal options. We’ve looked at various blockchain poker sites and made a list of what you need to know. 

Bitcoin logo on a computer chip background

bitcoin logo

What is Bitcoin?

Bitcoin is a digital currency created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. It relies on cryptography and a decentralized peer-to-peer network called a blockchain, meaning that no one authority controls the transactions. Instead, the blockchain acts as a public ledger where all transactions are permanently recorded and can be viewed at any time.

When a transaction takes place, it is broadcast to the network and shared across the nodes; every 10 minutes, the transactions are grouped into a block by the miners and permanently added to the blockchain. The agreement on the ownership of each bitcoin or bitcoin fragment is reached cryptographically, with bitcoin miners having to solve a hashing problem that verifies the validity of the previous blocks.

The Top Bitcoin Poker Sites

Operators are applicable only for United States and Canada users.

Bodog

Bodog

Bodog gears its poker site towards recreational players, with anonymous tables to limit bum hunting and a lack of a rakeback program to discourage high-volume players. This creates a poker room with a lot of soft games, which is great for players looking for an alternative to some of the more grind-y sites. With a variety of games to play, as well as fast cashouts, Bodog is definitely a recreational fan favorite.

Key Info

Cryptocurrency options: Bitcoin/Bitcoin Cash/Bitcoin SV/Litecoin/Ethereum

Crypto Deposit Min/Max: BTC/BCH/BSV/LTC: $10/$5000 | ETH: $60/$5000

Welcome Bonus: 100% matched deposit up to $1000

Highlight: The softness of its games.

Pros

  • Good selection of games.
  • Easy to use site design.
  • Plenty of traffic.

Cons

  • Limited promotions for existing customers.
GG poker340x16

GG Poker

As the biggest poker site on the market, GG Poker has started to incorporate cryptocurrency payments. While they currently only accept Bitcoin, we can see them adding more currencies in the future. What more can we say about GG that hasn’t been said? They have everything from huge tournament guarantees and soft games to a large player base and innovative game features. If you’ve been waiting for crypto banking options before joining, now’s the time.

Key Info

Cryptocurrency options: Bitcoin

Crypto Deposit Min/Max: $10/$50,000

Welcome Bonus: 100% matched deposit up to $600

Highlight: High poker traffic

Pros

  • Highest poker traffic in the industry.
  • Huge tournament guarantees.
  • Generous welcome bonus.

Cons

  • Limited mixed game options.
BetOnline

BetOnline

Considered by many to be the best poker site in the US, the BetOnline brand launched in 1991 and has offered poker since 2011. After relaunching its poker software in 2016, BetOnline has been one of the best-looking sites on the market. As a top 3 site in terms of US traffic, there is a wide range of games to play, including freerolls, tournaments, and cash games.

Key Info

Cryptocurrency options: Bitcoin/Ethereum/Litecoin/Bitcoin Cash/Ripple

Crypto Deposit Min/Max: $20/$3500

Welcome Bonus: 100% matched deposit up to $1000

Highlight: Its stunning software design

Pros

  • High traffic.
  • Lots of low-limit cash games.
  • Great welcome bonus.

Cons

  • No iOS mobile app.
sportsbetting

Sports Betting

If you’re a cryptocurrency enthusiast with several different coins you’d like to use daily, look no further than SportsBetting poker! They offer deposits and withdrawals for over a dozen alt-coins on top of classic currencies such as Bitcoin and Ethereum. Once you’re on the site, you can play in tournaments with huge prizes and a range of Texas Hold’em cash games.

Key Info

Cryptocurrency options: BTC, APE, AVAX, BNB, BCH, ADA, LINK, DOGE, ETH, LTC, MATIC, XRP, SHIB, SOL, XLM, USDT, TRX, USDC.

Crypto Deposit Min/Max: $20/$100,000

Welcome Bonus: 100% matched deposit up to a $1000 bonus

Highlight: Great tournament guarantees

Pros

  • Large number of crypto options.
  • Great customer support.
  • Big jackpot tournaments.

Cons

  • No mobile app.

Why Should You Play On Online Poker Sites That Support Cryptocurrencies?

But what makes a site that accepts cryptocurrency different from any other poker site? After all, it’s all the same game; how much of an impact can a couple different deposit methods really have? Well, a number of positives come with depositing with crypto that you just don’t get from other deposit methods. So let’s take a closer look at all the positives you get from playing on an online poker site that supports crypto.

  • Availability – Cryptocurrency is a purely peer-to-peer payment system; no central authority manages and authorizes transactions. This means your deposit cannot be blocked or limited, as can happen when using a bank or an e-wallet. Some banking institutions will stop payments to gambling-affiliated websites, making them useless as a deposit method. Crypto doesn’t have that problem and will always be available for you to deposit or withdraw from an online poker site.
  • Anonymity – While centralized crypto exchanges require KYC, there are many ways to buy crypto anonymously. You can buy Bitcoin on peer-to-peer exchanges or at a Bitcoin ATM, and neither requires you to disclose your identity. This means that cryptocurrency is your best option if you want to protect your identity while playing.
  • Lower Fees – While some payment methods require you to pay a fee of up to 3% of your total transaction, crypto fees are notoriously low, even for large transactions. You can move thousands of dollars back and forth and only pay a few cents in transaction fees each time. Nothing beats crypto on its fees if you’re looking to gamble with large amounts of money.
  • Provably Fair – One of the great things about blockchain technology is that it’s immutable, meaning that once something has been written to the blockchain, no one can go back and change it. This means that when you deposit to your chosen poker room, there will be a record of that transaction, so there’s no danger of them disputing it. Also, many crypto poker sites have been using smart contracts with their games which publish the results to the blockchain. This makes these games completely transparent and provably fair, as players can check the results themselves to see if they match the stated probabilities. Don’t be surprised to see decentralized poker sites implement the same process in the future.
  • Security – The aim of cryptocurrency is to provide a safe and secure payment method, and it succeeds; crypto is one of the safest and most secure payment methods you can use online. It uses 128-bit encryption technology to verify transactions, which means they’re nearly impossible to hack into. The blockchain is also an immutable ledger, which means that no one can retroactively change transactions that have occurred as a way to steal your cryptocurrency. The only way someone can steal your cryptocurrency is to hack into your wallet, so as long as you use a secure enough password, no one will be able to guess your private key.
  • Transaction Speed – Another positive of using crypto is the transaction speeds they offer. Almost all deposit methods offer instant deposits, but most take days to process a withdrawal. However, with cryptocurrency, you can get your money within a couple of hours, as the processing times are much shorter for crypto transactions once the withdrawal has been approved.

 

What is a Bitcoin Wallet?

A bitcoin wallet is a way for people to manage and access their bitcoin. While most think of a wallet as storing the bitcoin, it actually keeps the cryptographic information needed to access the blockchain, view bitcoin addresses, and send transactions.

Some wallets are physical devices, like a hardware wallet, and some are digital, like desktop and mobile wallets. Each bitcoin wallet has a public address that people can use to send you bitcoin and a private key that is used to cryptographically sign transactions. It’s essential that you keep your private key safe, as anyone with access to it can access your bitcoin.

bitcoin wallet with access key

If you’re looking to set up a bitcoin wallet for the first time, here are the steps you need to do so:

  • Navigate to a site that offers digital bitcoin wallets – for example, https://metamask.io/.
  • Click “Download,” then choose the installer that corresponds with your operating system.
  • Run the executable file once the file has been downloaded.
  • Follow the installation wizard to install the software for the digital wallet on your machine.
  • Once installed, open the software, click “Create New Wallet,” and then name your wallet file.
  • Choose the kind of wallet you’d like to create (for most users creating a wallet for the first time, a Standard Wallet will be the best choice).
  • As you’re creating a brand new wallet, choose “Create a New Seed.”
  • Next, you will be asked to write down a list of 12 randomly generated words called a wallet generation seed. This is your backup if you ever lose access to your bitcoin wallet and need to restore it. The order of these words is essential. Make sure you do not store them anywhere that could be compromised – anyone with access to this seed can access your bitcoin.
  • Finally, you will be asked to create a password. You’ll use this password to access your wallet for day-to-day transactions.

 

Offline Bitcoin Wallets

While bitcoin is a digital currency, securing access to your bitcoin offline is possible. This is referred to as “cold storage” and should only be used when you are looking to hold onto your bitcoin for the long term and do not need to access it regularly. The main benefit of doing this is to reduce the risk of your bitcoin being compromised by hackers. If this is important to you, there are two options for keeping your bitcoin offline:

Crypto Wallet

Paper Wallet

The ultimate cold storage and one of the most secure ways to keep your bitcoin. Using a bitcoin wallet generator, you can create a public address and private key for your bitcoin wallet, send your bitcoin to the wallet address, then print out the public/private key pair to be able to reaccess it in the future. As long as your computer was not connected to the internet when generating your wallet, there will be no way for your bitcoin to be compromised.

Crypto Wallet

Hardware wallet

Another way to keep your bitcoin offline and secure is with a hardware wallet. A hardware wallet runs on a USB device that securely stores a user’s private keys. As long as you don’t use them on a computer connected to the network, these hardware wallets are unaffected by any malware your computer may be infected with. In addition, the most popular hardware wallets run on open-source software, so the community can determine whether or not it is secure before buying it.

How to Buy Bitcoin

If you’ve never bought bitcoin before, don’t worry! It may sound like a complicated process, but it’s actually very straightforward. We’ll lay out a couple of ways to buy bitcoin for you now:

Buying from an Exchange

The most common way to buy bitcoin is from a crypto exchange. You first need to create an account on a crypto exchange, such as Coinbase. Once you have an account, you can deposit fiat currency using a bank transfer or debit/credit card to fund your account. When your account has been funded, you can exchange your fiat currency for the cryptocurrency of your choice. Once you’ve bought your bitcoin, you’ll need to transfer it off the exchange to your private wallet to ensure it’s secure.

Buying from a bitcoin ATM

You can use a bitcoin ATM if you’d prefer to use cash to buy your bitcoin rather than a debit card/bank transfer. However, if you’d like to do this, you’ll need a digital wallet to send your bitcoin to. To start, select your price range – for example if you’d like to buy $100 worth of bitcoin, choose $0-$500. Next, scan the QR code of your digital wallet so the ATM knows where to send the bitcoin once the transfer has been completed. Next, insert your cash into the ATM, then click on “confirm purchase.” Once the transaction has been confirmed, click “Done” to complete the transaction and print a receipt. On average, it should take between 3-5 for the bitcoin to reach your wallet.

Pros and Cons of Bitcoin Poker

While playing on a bitcoin poker site has many advantages, it’s not all sunshine and roses. There are some drawbacks to consider when deciding whether or not to play in a bitcoin poker room.

Pros

  • Instant Transactions – Bitcoin and other cryptocurrencies are one of the fastest ways to move real money between your account and an online poker room. With most deposits and withdrawals being completed in less than half an hour, these sites are perfect for people who need to move their money around quickly.
  • Anonymity – One of the major advantages of bitcoin over fiat currency is the ability to stay completely anonymous when using it. If you’re in a jurisdiction for which online gambling is illegal or if you don’t want to be associated with the moral implications of gambling, you can use bitcoin to hide your identity, as it’s not managed by any central authority.
  • Global Availability – Sites that offer bitcoin poker are available to you no matter where you are in the world. This includes jurisdictions where operating a poker site is illegal, such as the United States.

Cons

  • Bitcoin Volatility – While we may one day live in a world where bitcoin is the standard currency, at present, it is still a volatile investment, with huge swings occurring daily. Imagine the scenario where you’ve won bitcoin in your poker session but have lost money because the price of bitcoin relative to your native currency has dropped so much. Not fun!
  • Security – Bitcoin is a decentralized platform, meaning that no central authority has the power to refund any money that has been sent in error or has been stolen. As a result, you need to be extremely careful when depositing money to ensure that you’re sending it to the correct bitcoin address and that the site can be trusted to return your bitcoin when you withdraw it.

Bitcoin Deposit and Withdrawal Limits

Different online poker sites have different crypto options available to their players. For example, some offer over 60 cryptocurrencies as a payment method, while others only provide Bitcoin. As well as different crypto poker options, sites will have different deposit limits. Below is a breakdown of each bitcoin poker room and their deposit/withdrawal limits (*Paid in increments of $9500*):

 

Poker RoomCrypto OptionsMin/Max $ DepositMin/Max $ Withdrawal
IgnitionBTC, BCH, BSV, LTC ETH$10/$5000
$50/$5000
$10/$9500
$50/$9500
BovadaBTC, BCH, BSV, LTC ETH$10/$5000
$50/$5000
$10/No Limit*
$50/No Limit*
BetOnlineBTC, ETH, LTC, BCH, XRP$20/$100,000$20/$100,000
EveryGameBTC, BCH, BSV, LTC$25/$2500$100/$2500
ACRBTC, 60+ Alt Coins$10/$25,000$50/$10,000
BodogBTC, BCH, BSV, LTC ETH$10/$5000
$60/$5000
$10/No Limit*
$50/No Limit*
Black Chip PokerBTC, 60+ Alt Coins$10/$25,000$50/$10,000

How to Cashout from a Poker Site with Bitcoin

Once you’ve taken down your opposition and raked in some massive pots, you’ll want to withdraw your money. Playing on a bitcoin poker site, this may seem daunting to some people. However, the steps for withdrawing bitcoin from a poker site and having the money in your bank account are simpler than you might think.

  1. Click Withdraw Options

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    There will be a “cashier” button on your poker site. From there, choose the withdrawal option and input your bitcoin wallet’s public address. Finally, click “withdraw,” and the bitcoin will be sent to your wallet.

  2. Send to an Exchange

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    Once your bitcoin has been sent to your wallet, you need to send it to an exchange where you can exchange it for fiat currency. There are many exchanges to choose from, with Binance and Coinbase being two of the most popular.

  3. Send Withdrawal Request

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    Once you have your fiat currency, request a withdrawal from your exchange to your bank account. Once this has been processed, your money will be in your account!

Bonus offers with Bitcoin Poker

One reservation that people have about using cryptocurrency as a deposit option is that they may not be eligible for bonuses and promotions. However, while this may have been true in the early days of cryptocurrency, all the top poker sites allow their players to take full advantage of the bonuses they offer, no matter how they deposit. Let’s look at some of the bonus offers available for players depositing with Bitcoin.

Matched Deposit Bonuses

Players who deposit with Bitcoin have access to the matched deposit bonuses available at the top poker sites. These bonuses will match a certain percentage of your deposit up to a certain amount. The most common matched deposit bonus you’ll see is a 100% matched deposit bonus, which means that your Bitcoin deposit will be doubled! However, players often need to unlock this bonus by paying rake, so always read the terms and conditions before playing.

Free Poker Chips/Buy-ins

Arguably the best bonus a poker player can have, these bonuses give you a chance to play Bitcoin poker for free. Most sites that offer this promotion will have a certain amount you need to deposit to unlock this reward. You’ll often need to play through the bonus several times before it becomes eligible for withdrawal, but this will be at the discretion of the poker site. Unfortunately, we’re finding it increasingly hard to find sites that offer this type of bonus, so be on the lookout for the ones that do!

Free Bets

Most online poker sites have branched out into the world of online casinos and online sportsbooks. As a result, some of the bonuses they offer will relate to those aspects of their site, whether it’s free sports bets or free casino bets. These offers allow you to try games for free, but most come with wagering requirements that you must meet before the bonus becomes eligible for withdrawal.

Crypto & Bitcoin Poker FAQs