Cryptocurrencies have become one of the most popular digital assets in recent times. It is estimated that in Spain alone there are more than 12% of users who make use of them, many of whom use them to play poker.
Spain is a country that has joined the list of those who make use of cryptocurrencies. According to data obtained through a global study based on 42,000 surveys conducted by Finder, 12% of Spanish adults have cryptocurrencies. Although the percentage, compared to the rest of the countries in the study, reflects slower growth in the use of this type of currency, it is progressive and is gradually gaining ground in other regions.
The study also indicates that of all the cryptocurrencies Bitcoin is the most used (5%), followed by Ethereum (2%) and Bitcoin Cash (2%). The possibilities of using these currencies have also intensified with the supply of products and services, such as the sale of travel, leisure or free time, video games, digital stores, gift cards, computers, electronics and, above all, poker games.
In the latter case, there is a wide range of options to play online from the computer, as well as from applications for smartphones or tablets. There are several poker apps that allow the use of cryptocurrencies as a deposit and withdrawal method. One of them is PPPoker, an app whose origin took place in China, but which has had a significant expansion in recent years to Europe and the United States.
Its PPPoker clubs accept cryptocurrencies, such as Bitcoin, Etherum, Ripple and many others, as well as other payment processors through personal P2P transfers. These are managed through the different club owners responsibles for them, such as EasyPPPoker. Thanks to this, players from more than 100 countries around the world can participate through electronic cryptocurrency wallets.
Other applications can also be found around the world, as well as online poker rooms and portals that are linked to cryptocurrencies. The options have increased in recent times and more and more players are opting for this payment method to play both at home and abroad, especially in the United States.
Players are aware that playing with cryptocurrencies can have its drawbacks, especially due to volatility and exposure to potential scams, however, they highlight a number of advantages that derive from the decentralization and independence from governments.
For poker players, the use of cryptocurrencies encourages speculation, which translates into earning more in the investment of cryptocurrencies to play poker or any other gambling game; they also stress that there are a large number of security mechanisms based on the blockchain system and highlight that they are anonymous and easy to transfer.
As for the modalities and other options to play poker with bitcoins, the houses and applications that offer this payment and withdrawal method have all kinds of tournaments, such as weekly freerolls, Sit & Go and Cash tables, clarify the specialized players.
A decentralized and unmediated currency with great value
One of the main qualities of cryptocurrencies is that they have no intermediaries, so they are not under the control of any institution or central bank, although they are subject to the legislation of each country for tax purposes. This means that their quantity is limited and, therefore, their value increases.
The value of cryptocurrencies is defined according to supply and demand, as well as the commitment of users in the use they make of it. As they are limited, the price of existing cryptocurrencies increases and this translates into a greater amount of cash to be able to invest in games such as poker, professional players explain.
Cryptocurrency encourages speculation
Another reason why the value of cryptocurrencies increases is due to the speculation that exists around them. Professional players explain that most people buy them for this reason, this makes that in parallel increases the value of the currency of those who use them to play poker, but also to withdraw the asset.
Moreover, they are currently booming, which is making them more profitable. Currently, the countries that carry out the most transactions with cryptocurrencies are Kenya, Nigeria, Vietnam and Venezuela. Also Argentina, the United States and other countries in Latin America and Europe.
A secure method that is impossible to replicate
Cryptocurrencies use a cryptographic encryption method based on guaranteeing ownership and ensuring the integrity of transactions. This method is known as Blockchain, which is based on a shared accounting record. This implies a high security system to avoid, for example, that the same asset is shared twice, or that copies of it are created.
Experts explain that this system works like a large ledger where huge amounts of information are recorded that cannot be altered or deleted. This information is shared on the network and protected with strong encryption mechanisms, they point out. This guarantees its acquisition and use in poker, although it does not exempt players from the volatility of cryptocurrencies, something they should always bear in mind.
They maintain anonymity and are easy to transfer
Bitcoins, as well as any other type of cryptocurrencies, stand out because they maintain anonymity and are easy to transfer at a very low price, explain to professional poker players who make use of them. They clarify that in poker it is of vital importance to maintain anonymity, especially when it comes to professional players who want to go unnoticed in their online games.
However, this does not imply that transactions are transparent. The information is public, but under pseudonyms in the form of a Bitcoin address that is recorded in the blockchain records.