Poker sites and bitcoin crypto currency

PackinPat

PackinPat

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I recently left a poker site I was on for over four years. I withdrew money many times and deposited less with a credit card. Not bad for being in the USA. A couple of months back they notified players they would only accept cryptocurrency for deposits. About a month later they stopped all payouts to just crypto. Fortunately, I got my money out prior. The site is not in any cardchats list. I do not think that this would be a good move for poker sites. What do you think.:confused:
 
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redmast

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Maybe this site was not created for a long time. Only to collect money that would then be closed and to appropriate the players' money. I doubt that big poker sites will switch to crypto currency.
 
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PokerWahoo

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Crypto actually works way better for players and site. Way faster deposits/withdrawals. That being said, I do see the concern with removing all other options
 
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Fastone2

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Bitcoin and other substitute ways to play, should not be allowed. Lets use our banks and not be subject to fraud....
 
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B707398

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I don't trust cryptocurrency I feel that is a way to be tracked somehow
 
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B707398

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I had a poker site that told me I can only deposit with bit coin I'm pretty skeptical
 
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B707398

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PokerWahoo said:
Crypto actually works way better for players and site. Way faster deposits/withdrawals. That being said, I do see the concern with removing all other options
Click to expand...
not sure if I feel comfortable or trust any of that type of deposit withdraw
 
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Aknight3

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Imo crypto is the future of online poker...its way easier. Harder to track and generally just better. No credit card companies or bajks telling you what u can or cant do with your money..jmo
 
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ccres

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PackinPat said:
I recently left a poker site I was on for over four years. I withdrew money many times and deposited less with a credit card. Not bad for being in the USA. A couple of months back they notified players they would only accept cryptocurrency for deposits. About a month later they stopped all payouts to just crypto. Fortunately, I got my money out prior. The site is not in any cardchats list. I do not think that this would be a good move for poker sites. What do you think.:confused:
Click to expand...


Hi. For the USA I think it's the best way to go by far. Unless you happen to be in one of the fully regulated states playing on a fully regulated site there is still enough uncertainty to stay away from standard deposit methods. There have been plenty of examples of people getting their bank accounts or credit card transactions flagged or cancelled. Bitcoin or other cryptocurrency to a private wallet is a cleaner way to go imo.
 
Beardownman

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I had trouble withdrawing from BOL, they let me deposit with a credit card but would only let me withdraw via Bitcoin! At the time I was really p'd off.
So I opened a wallet and deposited from BOL to it. Now I must admit I quite like dabbling in a bit of crypto, and have even deposited on more crypto poker rooms using Bitcoin, Ethereum or even the poker rooms own crypto token currency..Its only about $50 in total but I think its a bit of fun and if it really gets going at least I'll know a bit about it.
 
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vic75

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Why do we need cryptocurrency?? When everyone is used too there own currencies. I highly doubt the big three poker sites will change to bitcoin anytime soon.
 
PackinPat

PackinPat

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Bitcoin may work, but in my case I tried to open a crypto wallet, Coinbase. Okay, I got one now I have to fund it. It will not accept any of my credit cards. Coinbase wants me to do a money transfer from my bank NOT. So I now have an empty wallet. At least if I win I can get paid in bitcoin and then deposit somewhere else easily. It's just not easy!:confused:
 
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