Switch Poker – the mobile poker site which introduced poker for the iPhone last year – has now introduced a banking facility for players who want to deposit into their Switch Poker account using Bitcoins.
The innovative virtual currency, which facilitates anonymous movement of funds between Bitcoin account holders without a third party payment processor being involved, falls outside government control and enables players who would otherwise be unable to make online poker deposits to play online poker.
More about Bitcoins
Bitcoin operates in much the same way as an eWallet. Once you have opened your Bitcoin account, you can buy and sell goods with Bitcoin, trade currencies with it and even withdraw funds from your Bitcoin account into other eWallets via a Bitcoin trading facility. The major advantage of using Bitcoin is that it is open source software which everybody has access to and therefore there are no transaction charges as there would be if you were paying and receiving funds through one of the more established portals.
The Value of Bitcoins
Bitcoins change in value in the same way as the dollar might fluctuate against the pound, and in this respect you could gain or lose on the currency markets during the period that Switch Poker is holding your online poker deposit. However, this could equally happen on PokerStars if you make a deposit from a sterling account into an online poker account maintained in US dollars. More information on Bitcoin can be found on bitcoin.org and for the current value of Bitcoins against a selection of major international currencies, please click here.
More about Switch Poker
Switch Poker is an innovative mobile poker site at which players can play on their Apple mobile devices or through a standard web browser. Real money and play poker games are available at Switch Poker for enthusiasts of NL Hold´em, with development in process for PL Omaha and Sit and Go poker tournaments. Rather than offer colossal deposit bonuses, Switch Poker offers new players to its site a free iPad or iPod Touch subject to a minimum deposit and collecting the qualifying number of Switch Poker Points within a six month period.
The Final Word
Announcing the new facility on Switch Poker, lead developer Conor McCarthy said, “The advantage of the Bitcoin currency is that it has the ability to remove all payment processing related barriers of entry for poker and gambling sites around the world. It would allow any person to play for real money completely anonymously. Players will be able to now send us funds directly without a 3rd party being privy to the transactions, and we will be able to send funds directly back to the user. It also means that people without a Skrill or Neteller account will be able to play”.
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