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At the end of February and the beginning of March 2022, many poker players from Russia, Belarus and Ukraine faced difficulties — they could not make a deposit or withdraw money from the account. An alternative way to replenish accounts in poker rooms is not even electronic payment systems, where dollars, euros or money in another currency are on the accounts, but cryptocurrency. Works in all rooms. This is a fairly convenient way to make deposits in poker rooms. However, until recently, poker players from Russia were wary of crypto. Perhaps now is the best time to change your attitude towards her. Also, this instruction is presented on the university.poker website in video format for your convenience.
1. Choosing a cryptocurrency exchange for poker players
The choice of a crypto exchange is somewhat similar to the choice of a poker room — there are quite a large number of them, but the conditions for interaction are different. One of the best and most common exchanges is Bybit.
It has long established itself in the crypto market and has already collected many positive reviews. Here, every day there is a big turnover, and transactions occur every minute. Important: The exchange is not suitable for storing money. This is not the same as a payment system like Skrill or a pot. Use it only to buy and deposit in the poker room. Or let's say the tuition fee is transferred from your exchange account to the coach's exchange account.
Advantages of the Bybit exchange
I summarize the advantages of registering on the Bybit exchange:
- Age.
This is one of the most popular exchanges that works with crypto, which allowed the administration to accumulate tremendous experience, which is reflected in every element: from the design of the profile to the convenience of participating in trading. - Convenience.
According to users, Bybit is one of the most convenient platforms for working with cryptocurrency, which has a Russian-speaking technical support service. - Opportunities.
On the exchange, you will have access to various currencies and trading methods. - Savings.
The commission of the exchange for transactions is lower than that of competitors. - Withdrawal:
You don't have to reinvent the wheel and figure out how to withdraw your money. Cashout is available directly to bank cards (restrictions may apply to cards issued in the Russian Federation).
Registering on the Bybit exchange
The procedure is quite standard and will not cause difficulties for people who actively use the Internet and have already created accounts in poker rooms.
Registration consists of several actions:
- Visit the official website of the exchange, where you need to click on the "Register" button.
- Fill out a simple form consisting of two fields: an email and a password.
- Verify your email address by clicking the link in the email from Bybit
- Verify. The procedure is similar to that in poker rooms.
The security service of the exchange needs to provide: a photo of the passport or license taken directly from the computer or phone via a webcam; confirmation that it is you on the webcam after the photo.
2. Exchange money for crypto
Once you've created your account, you'll need to top it up. Since you do not have a cryptocurrency yet, you will make a deposit in the classic currency: dollars, euros or Russian rubles. And now they need to be exchanged.
There are two ways to do this:
- Buy on the stock exchange;
- Exchange on the P2P Bybit service.
The second method is the most profitable and does not require specific knowledge from you. In addition, there will be a more favorable exchange rate.
3. Making a crypto deposit in a poker room
When the cryptocurrency appeared on the exchange, it remains to make a deposit in the poker room. Here you need to be careful, since there are several types of crypto — and I recommend to clarify in advance whether the selected site supports a particular currency.
The four most popular cryptocurrencies that are accepted in many poker rooms are:
- Bitcoin (BTC) - the most famous;
- Litecoin (LTC) - we use this currency as the minimum commission for the operation.
- Ezereum (ETH);
- Tezerus (USDT) - equated to the dollar, very convenient 1 USDT = $1 (the rate is always the same);
To make a deposit using crypto to poker rooms, you just need to go to the cashier and click on the deposit from the cryptocurrency.
4. Choose a cryptocurrency storage location
If you do not want to immediately withdraw cryptocurrency from the exchange after buying it, you need to think about where to store it. As I wrote above, the exchange is not a wallet and you do not need to store it here. In the crypto world, there are concepts such as hot and cold wallets. These are kind of pots that offer the service of storing your savings. Here is one of the suitable ones - metamask. Here you can create an account and store cryptocurrency. According to insider data, a downtrend (crisis) is outlined in the crypto world, so it is not recommended to buy cryptocurrency for a long period in the near future. I recommend using the service only for deposits and withdrawals.
