BigcoinPoker Acquires BitcoinPoker.com
London, April 3rd 2017 BigcoinPoker.com launched in 2013 as a comparison engine for the Bitcoin poker market. Having secured itself as one of the most popular sites for finding and reviewing Bitcoin poker rooms, BigcoinPoker made the decision to purchase BigcoinPoker.com, one of just a handful of premium domain names in this market. The decision, which website manager James Fuller described as a “watershed moment” for the brand, occurred after he spotted the domain coming up for auction on GoDaddy.
After battling it out with several other bidders, Fuller was able to win the domain for an undisclosed amount. The sale of the domain name was particularly important for the brand; as Fuller describes, “Bitcoin poker is still in its infancy, yet registrations on our site have increased 80% year on year since 2013, and as the protocol develops we expect that trend to continue”. The poker industry has been taken off guard by the rapid growth of Bitcoin and other cryptocurrencies like Ethereum, with very few of the industry big hitters taking notice. BlackChip Poker, and a handful of other mainstream poker sites have decided to adopt the new technology, however big name Bitcoin players such as Betcoin have started to take business from these slow moving poker giants.
Bitcoin Poker Explained
Bitcoin gambling works in much the same way as fiat currency gambling. The key difference is that deposits and withdrawals are replaced by Bitcoin transactions, allowing players to access poker sites without going through a bank. Some sites will convert Bitcoin to fiat currency within the platform itself, allowing it to then be converted back into Bitcoin for withdrawal once it’s needed. This approach simplifies the betting process, as Bitcoin denominations and fluctuations in the price can become extremely confusing for players.
To get started at a Bitcoin poker site, simply download a Bitcoin wallet and purchase some Bitcoins from a site like Coinbase.com or Bitstamp.net. Transactions can then be sent directly to the poker room in question, and funds will be added to your account within the hour. For a full explanation of how to use Bitcoin for poker, see our Bitcoin gambling guide.