Bitcoin is a virtual currency option that is used in a number of ways online, including online gaming. In the online gambling industry, Bitcoin is a relatively new option and not readily available. The Winning Poker Network has just announced they are now offering Bitcoin as a method for both deposit and withdrawal for online gamers.
According to PokerNewsDaily, Bitcoin will be accepted at the Winning Poker Network sites which are available to players around the globe including in the US. It is not surprising that the option is now available at the site as it will give US payers the opportunity to take part without the constraints found when dealing with the traditional financial options for making deposits and withdrawals.
A Winning Poker Network representative made the announcement last week at TwoPlusTwo and first stated that only deposits would be made via the currency option. Transactions were limited to a maximum of $25,000 and withdrawals were expected to be added this week.
A common issues with Bitcoin is the fluctuation of value of the currency. The currency can lose value quickly and increase or decrease within a day or two time frame. Thankfully, Winning Poker Network will be implementing the currency option by converting Bitcoin into US Dollars. With this feature in place, players will not have to worry about losing value at the site as their funds will be secure. When a withdrawal is made, the funds will be converted to Bitcoin and then placed in the Bitcoin wallet of each player.
To use Bitcoin in the cashier of WPN, look under the Deposit tab and click on the popular e-wallet option. You will then choose the amount in US dollars you wish to deposit and the system of WPN will show you how much Bitcoin will need to be transferred. Players will need to pay a small exchange fee but the fee is apparently low in value based on player reports.
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