Crypto Payments in Online Poker – What Are the Options and How Popular Are They
3 minutes
Posted by: Ivan
The online poker industry is constantly evolving and introducing new trends. One of the biggest trends to hit the online poker scene in recent years was the introduction of crypto payments.
Although a relatively new invention, cryptocurrencies have swept the market and garnered the attention of many online gamblers, not just those who love playing poker.
The main subject we’ll focus on is why crypto payment options are so interesting for poker players and what options are there for privacy-oriented poker enthusiasts? Equally as important, what’s to expect from these payment solutions in the future? Read this page and find out the answers to all of these questions.
How Popular Are Crypto Payments in Online Poker?
Crypto online poker sites have come a long way since the crypto boom in 2017. Today, crypto payments are very popular in the world of online poker, and these sites don’t differ in any way from regular poker sites that accept traditional payment methods.
This popularity comes as no surprise, as crypto payments offer many advantages compared to traditional solutions. Some of the biggest pros of crypto payments are:
- Convenience – Online casinos are already highly convenient, but crypto payments help bring this to an entirely different level. With crypto poker sites, you can deposit or withdraw your money instantly without having to deal with any banks or lengthy verification checks.
- More Affordable – With crypto poker sites, you can often escape the transaction fees and extra costs that come with making deposits and withdrawals. As these sites aren’t regulated by any payment operator, the transactions are often much cheaper compared to credit cards and especially bank transfers.
- Safe and Private – Most traditional online casinos require you to share a long list of personal and financial information that could end up hurting you if they fall into the wrong hands. With crypto online poker sites, in most cases, you only need to share an email when depositing and withdrawing, allowing for maximum privacy and security.
Most Popular Cryptocurrencies in Online Poker
Like traditional payment methods such as credit cards and bank wire transfers, crypto payments come in a wide variety of different options. Of course, not all payment options are equally popular, as some stand out as favorites for online poker players. With that in mind, here are some of the most popular crypto options in online poker:
Bitcoin
There’s no going about it. Bitcoin is by far the most popular cryptocurrency out there and is almost synonymous with the entire trend. As such, bitcoin is also the best-represented cryptocurrency in the online poker scene.
You won't need to search for long, and you can start playing bitcoin poker here right away. So far, this is the best payment option for every online poker player who wants to perform financial transactions in cryptocurrencies.
Ethereum
Ethereum is arguably the second most popular cryptocurrency in the world. What makes ethereum so suitable for online poker is that it’s more than just a crypto payment solution. It’s an entire computing platform.
In other words, ethereum provides a development surface for making blockchain-based applications. This makes it a very future-proof option and a potential platform for developing solely crypto-oriented online poker sites in the future.
Bitcoin Cash
As you could guess from the name, bitcoin cash does share a connection with the most popular crypto payment option, bitcoin. This payment option is built on an identical blockchain, so it shares many of its properties. Bitcoin cash came about in 2017 due to a disagreement in the bitcoin community and quickly became the go-to option for many players looking to play some poker hands online.
What to Expect from Crypto Trend in Online Poker?
With each passing year, cryptocurrencies become more and more widespread on online poker sites. They’ve taken online poker in an entirely new direction, delivering not only the advantages we’ve discussed above but also allowing players from every corner of the world to enjoy their favorite game without worrying about their country’s regulation.
Plus, as more people begin to invest in cryptocurrencies, a bigger part of the general poker audience will consider switching to crypto payments when playing online.
Blockchain technology is undoubtedly one of the greatest innovations in this century, and industries like online poker already enjoy great benefits. With all of this in mind, it’s safe to say that crypto payments are here to stay.
They will only become better and more accessible with time, as we’re just witnessing the early rise of an industry-transforming trend. If you like playing online poker with friends or against strangers and want to do it with maximum privacy and great convenience, you might want to give these sites a chance.
