Bitcoin might have been the first cryptocurrency to make it into online poker venues, but it is certainly not the last. Over the years, gambling venues adopted different crypto technologies, transforming the industry completely.
Every year, new blockchain poker trends are introduced to online venues, allowing players to place real money bets in a more modern and efficient way. Find out what kind of crypto tech is now trending in online poker venues, and who knows? Maybe the next time you play, you will use digital currencies to place your bets!
What is Blockchain Technology?
Before we delve into the pros of cryptocurrencies and how the latest trends can help improve your poker experience, it is important to have the terminology down pat.
Per definition, a blockchain is a shared database that records information in blocks linked together in an endless chain. While you can store different types of information while using blockchain, it is usually utilized as a ledger for transactions.
The key characteristics of blockchain are irreversibility and shared knowledge. All transactions made with the use of Bitcoin or similar cryptocurrencies are permanently recorded, and they can be viewed by anyone. The high transparency makes this payment method one of the safest options out there.
At the same time, you can remain anonymous when completing crypto transactions with the ability to use smart contracts to automatically perform efficient exchanges of currency.
Changes and Advances in Poker Crypto Tech
Bitcoin, Bitcoin Cash, and Lite Coin are only a few examples of the cryptocurrencies you might encounter at online poker venues nowadays. And since the industry is constantly evolving, different crypto poker trends pop up on a regular basis. Let's take a look at what that might mean for the online poker community:
- More crypto gambling venues – The rising number of available cryptocurrencies serves to show how popular this payment method is about to become. To keep up with the times, more online gambling venues are bound to provide players with the option to place bets via blockchain technology.
- Less bureaucracy – Some people avoid joining online gambling venues because they fear the grueling identification process they must go through to place real money bets. In addition to that, the process of depositing and withdrawing money is always a long one, and it can be rather tiring. Luckily, cryptocurrencies allow for quicker transactions without the need to wait for a third party to approve the transaction. Ultimately, that makes online gambling that much easier.
- Increase trust in the gambling system – Sometimes, players might be hesitant about placing bets online since there are untrustworthy venues out there, and there is a legitimate fear that they might lose the money they deposit. However, the unique blockchain technology which records every single transaction can allow players to track their money and make sure that everything is in order when playing online poker.
- Making the game more relevant than ever – For poker to remain relevant, especially among the younger generation that grew up surrounded by technology, the industry must adopt any technological trend that can improve the player's gambling experience. If poker venues utilize cryptocurrencies, they can ensure the future of the industry without fearing it will sometimes become irrelevant.
Any online poker venue - like Everygame Poker - that accepts cryptocurrencies as a payment method makes placing bets quicker, easier, and basically more efficient. Now is your chance to set out on a wild adventure with minimum hassle, thanks to the latest crypto trends!