What is a cryptocurrency?
As this is not a tech
-article, we will say that a cryptocurrency is like digital money which doesn't depend on a central bank and it can be used anywhere in the world; it's very similar to a P2P file transfer, but BTC can be exchanged to real money. Bitcoin is the most popular cryptocurrency (or crypto), but hundreds of others (Ethereum, USDT, etc.) are available on the market.
How can I buy cryptocurrencies from India?
There are plenty of ways to get cryptocurrencies, including credit cards, bank transfers, other cryptos, Skrill, Neteller, local exchange, etc. From India, exchanges like Exmo allow buying BTC through a wide range of methods including credit cards. You can also visit Localbitcoins, a global exchange where you can buy cryptos via a hand-to-hand transfer of bank transference.
How to exchange cryptocurrencies to INR?
The best way to exchange cryptos to Indian Rupees is Localbitcoins. Local payment methods such as PayTM, Western Union, bank transfer (ICICI, HDFC, AXIS, IDBI, SBI). Localbitcoins uses escrow protection (Localbitcoins withhold the funds until both parts confirm the transaction) and you can create your BTC wallet on the website.
Is it expensive to use cryptocurrencies to play online poker?
One of the good things about cryptos is that they don't rely on a central bank and this reduces the fees that need to be paid; for example, a common fee to P2P BTC transfer is BTC 0.001 (246INR≈), no matter if you are processing a 10,000INR or a 1,000,000INR withdrawal. If you’d like to buy BTC on Exmo for example, the fee is about 2%≈. Please note that the BTC price at Localbitcoins, for instance, is lower than the current value, and that is because the transactions are processed by real people (not banks).
Which online poker rooms accept cryptocurrencies to play?
As cryptos continue gaining market, every day, more poker rooms will start accepting those as payment methods. Indian poker players are welcome to join the following poker rooms using BTC:
|Rakeback||up to 70%|
|Rakeback||up to 30%|
If you live in India, using cryptocurrencies, it's an EV+ decision as it allows you to deposit and withdrawal to underground poker rooms which in short, are a brave new world.
Please don't hesitate to contact our support team in order to know more about cryptocurrencies and start playing poker using them.
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