If your looking for the best Bitcoin wallet for online poker in 2021 you’ve landed in the right place. Using crypto payments is something most poker sites have embraced over the last couple of years. The main reason for this is extremely low transaction costs. This applies to both making deposits and withdrawals. It also makes sense to get involved in crypto since it is the future of digital money. As we cover the ins and outs of this topic we also recommend checking out Ignition Poker. They are an amazing poker site which I have been playing on for the last few years.
Using a BTC Wallet for the First Time
One of the first things you will want to do when getting started with your Bitcoin wallet for the first time is to make sure that the security and recovery keys are set up properly. The mnemonic seed is a backup function that will allow you to recover your wallet if needed.
Once you have your Bitcoin wallet set up you can begin the process of transferring your coins to your new wallet from your exchange or digital wallet.
Having your Bitcoin transferred to a physical wallet is far more secure than a digital or web-based wallet app. As it is far more resilient to potential hacking or theft attempts. We don’t want you to lose those online poker Bitcoin winnings!
Coinbase – Reasons It’s the Best
If your looking for the best Bitcoin wallet for online poker in 2021 Coinbase is our top selection. Many consider Coinbase to be the number one Cryptocurrency brokerage platform. It is incredibly easy to use, has over 30 million users, and also possesses a strong level of security and authentication.
Coinbase does a great job of having a high level of security while also balancing its level of accessibility for new users. Your trading amount is limited initially until your account is verified. Deposits, purchases, and withdrawals all occur fairly seamlessly and conclude rather quickly. It’s also worth mentioning that the degree of information regarding cryptocurrency present on Coinbase is genuinely useful.
How To Get Started On Coinbase
Utilizing Coinbase as a platform for your online poker cryptocurrency begins with setting up your account to get the process moving.
Here are a few steps to get started on Coinbase
1. Create your account on Coinbase
2. Go through and complete the verification process
There are several steps to complete in the Coinbase verification process such as providing an image of your id, confirming your phone number, and setting up your 2-factor authentication.
3. Add and verify your payment method
You can then connect your bank account with your Coinbase account to begin buying and selling your Bitcoin and other cryptocurrencies for investing purposes or just to ready up for another session of online poker.
Is Coinbase Safe?
Coinbase is known as one of the more reliable cryptocurrency brokers and has been handling thousands upon thousands of crypto transactions each day. They also provide one of the highest quality web-based Bitcoin wallets available today. Coinbase also utilizes an effective level of 2-factor authentication, stringent security levels, and ensure to verify the identity of users effectively before allowing anyone to proceed with crypto purchases and these factors help to make sure that Coinbase remains one of the leading platforms for cryptocurrency trading.
How To Send BTC On Coinbase
Now that we’ve covered why this is the best Bitcoin wallet for online poker in 2021 let’s go over how to use it.
Here are the directions to send BTC from your Coinbase Account:
- Hit “Withdraw” and confirm the currency type to be sent
- Select “Bitcoin”
- Input the wallet address you are sending BTC to in the box marked “Recipient”
- Double-check the send order details before confirming the order
It is worth noting that you may want to confirm that your recipient or wallet is compatible and able to receive Bitcoin.
How To Receive BTC On Coinbase
On the other end of the spectrum, let’s take a look at how we can receive Bitcoin on Coinbase after getting your account properly set up and verified.
Here are the directions to receive BTC on your Coinbase account:
- You will want to begin by generating an address for the Bitcoin to be sent to. It is not recommended to re-use the same address over and over for security purposes.
- Share the address with the sender so they can initiate the transfer of the Bitcoin. ● Confirm completion of the transfer.
Again, it is important to ensure that you are generating unique address codes to protect the security of your cryptocurrency portfolio.
If you were looking for the best Bitcoin wallet for online poker in 2021 we hope this helped you out. Coinbase is very user friendly, and used by millions of people around the world. They make sending and receiving Bitcoin as simple and straight forward as possible. You can create your wallet today by clicking here.