Bitcoin poker is a service in which you play poker with the help of cryptocurrencies and bitcoins as suggested by the title and is much better than the regular poker. Let’s discuss some facts regarding the same.
Bitcoin Poker – What it is?
There are two types of bitcoin poker services available today and let’s check both of these –
- Only bitcoin website in which the only currency which can be used is only bitcoin and other cryptocurrencies. These website only support this content.
- The second website also consist other currencies with bitcoin which means you can pay in U.S. dollars, pounds and euros and these websites convert the cryptocurrency earned in real money too.
Now the question is how is bitcoin poker different than playing poker regularly?
As the people playing bitcoin are much less experienced, so a lot of cash flows and that are a great deal for you. The major thing is in bitcoin poker, the rate of commission which is taken by the companies is much less, and so you get much better and bigger rewards. So it becomes pretty easy for people who are experienced to take advantage of less experience players and earn.
But there is a drawback for the same; players in bitcoin poker are much less than regular poker games, so size is much small for the rooms.
But what are the advantages of bitcoin poker against the regular poker game?
When you earn money in bitcoins, first of all you have a lot of security and safety in the transaction. Second thing is the charges of transaction are really less giving you a lot of reward. The most important thing is that there is no central authority keeping eye on the bitcoin transactions. Your bank and financial institutions will never know where you earned it so no problem in your country and you can easily liquefy your bitcoins to money and transfer them without any fees attached. That is the beauty of these coins.
But every good thing has its own disadvantages which we will witness now.
As you know bitcoins are kept in an e-wallet which is downloaded in your laptops or phones but what if something happens to your account, all your bitcoins earned are lost. This is the biggest disadvantage of using bitcoins.
The second biggest disadvantage is that Government will take action against such websites and then if you have earned some bitcoins, they will be lost.