Tips and Tricks for Using Cryptocurrency in Poker Games

min read
Two crypto coins next to dice on a poker table
BetMGM Dec 05, 2023, 10:11 PM

Crypto poker is a variety of poker played with cryptocurrency instead of cash and has been growing in popularity. By leveraging blockchain technology and the decentralized nature of cryptocurrencies, poker platforms have embraced this new payment system in the gaming world.

This technology has several advantages for online poker, including faster transactions, increased security, anonymous gaming environments, and no third-party involvement from banks or payment processors.

Discover the best tips and strategies for playing crypto poker, from choosing the right poker room to bankroll management and bonuses. 

What Is Crypto Poker?

Cryptocurrencies are decentralized digital currencies that deliver anonymity, greater safety, and lightning-fast transactions. Crypto poker allows players to deposit, withdraw, and play for digital money instead of cash. 

Additionally, the best cryptocurrency poker sites offer bonuses like rakeback rewards and rake races that incentivize players to continue playing on their chosen platforms.

Choosing the right poker strategy and a trustworthy platform is vital to winning at poker, both for crypto and when you play poker online for money.

Choosing the Right Platform

In the worst-case scenario, online scammers could cart away your financial information or funds. The first tip for an enjoyable experience when playing poker with crypto is to select a secure and trusted site that guarantees security and anonymity. 

The best platforms offer a wide variety of games, quick deposits and withdrawals using cryptocurrencies, and enhanced security measures like two-factor authentication. Always look for the platform’s licenses and certificates and ensure they are from trusted gambling authorities. 

For further transparency, focus on platforms that offer provably fair gaming and find essential information in the terms and conditions that cover bonuses, clearance procedures, and game limitations.

Bankroll Management

The concept of bankroll management refers to the practice of controlling your bankroll so that you don’t end up risking more money than you can afford to lose. A bankroll strategy should always include a stop loss — an amount after which a player stops betting and closes their gambling session. 

It can also include a stop win — an amount after which a player withdraws the winnings and reverts to the initial bet size. It’s important that the stake matches your poker skill level and that you don’t blow everything on a single hand.

Fortunately, Bitcoin poker casinos allow players to automate the bankroll management process. This means the players will automatically get locked out of their accounts as they reach their limits. The funds are also transferred in this way.

Bonus Offers and Promotions

Crypto poker platforms offer an array of bonuses to attract new users and retain existing ones. Deposit match deals are the most common welcome bonuses, followed by no-deposit bonuses. Regular depositors can also expect rakeback bonuses, reload bonuses, and access to freeroll poker tournaments.

Before starting their crypto adventure, players are encouraged to check the terms and conditions of the bonus. You’ll want to commit to a bonus that you can use to generate real cash that you can withdraw. Also, look for wagering requirements and game contributions. 

Video poker games, for example, typically only contribute 10% toward meeting wagering requirements. Clearing a bonus may require a significant time investment, particularly when the playthrough requirements exceed 35x.

Other Advantages of Playing With Crypto

Playing poker with crypto has many benefits. For starters, there’s the potential for return-on-investment (ROI) increases due to the value fluctuations of crypto coins. You could win a coin at a lower value, hold it for a while, and sell it when the value increases. Other advantages of playing with crypto are:

  • Crypto poker platforms outpace traditional online poker rooms in transaction speed, ensuring swift deposits, withdrawals, and uninterrupted gameplay. 
  • Like the crypto space in general, playing poker with crypto is often done in an anonymous gaming environment where players don’t have to divulge personal information. This makes it a safer option for those who value their online anonymity.
  • With crypto poker, players don’t have to worry about interference from third parties like banks and payment processors. This minimizes transaction fees and eliminates currency conversion fees.
  • There is a high level of transparency and fair play for both the players and the house, as the blockchain technology on which the game is based records all transactions and results for both parties to view.

Safe Payments and Fair Odds at BetMGM

Crypto poker is gaining traction at top online poker sites. Like traditional poker, crypto poker is a game of skill where players can beat the house. Simultaneously, it harnesses all the advantages of blockchain technology, ensuring fair odds and secure transactions. Register with BetMGM and use your crypto on a wide selection of games and the best online poker tournaments

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Our BetMGM editors and authors are sports experts with a wealth of knowledge of the sports industry at all levels. Their coverage includes sports news, previews and predictions, fun facts, and betting.

Our BetMGM editors and authors are sports experts with a wealth of knowledge of the sports industry at all levels. Their coverage includes sports news, previews and predictions, fun facts, and betting.