Playing at Ignition Poker works even better when you use Bitcoin (or Bitcoin Cash) or any other cryptocurrency to make deposits and withdrawals. It’s easy to do; our comprehensive Ignition Bitcoin guide has all the details, but in this chapter, we’ll focus on that one very important app you’ll need at the start: the Bitcoin wallet. These wallets are simple to use for crypto, and you can download reliable ones for free off the internet. Even better, it only takes a few minutes to get your wallet up and running.


Setting Up a Bitcoin Wallet

There are several kinds of Bitcoin or BTC wallets, including hardware wallets that are actual physical devices you can use to store your cryptocurrency offline. These are very useful if you’re dealing with depositing or withdrawing a large amount of money, but they’re not free, and it takes a little while longer to learn how to use them. Digital wallets are the more common way to make Bitcoin transactions (aka mBTC transactions), so we’ll be focusing on those in this guide.

Digital wallets (or “wet” wallets) break down into three simple categories: mobile, desktop, and web-based. At Ignition Poker, we recommend avoiding the online versions, since they allow additional third parties to access your information. Download a wallet instead, preferably onto your mobile device so you can use the QR code functionality – which we’ll explain in a moment. We suggest BreadWallet for iOS devices, or Mycelium for Android. Just download and follow their set-up instructions to get your wallet ready for business.


Buying Bitcoin from Exchanges

You’ll be using your Bitcoin wallet to transfer funds from your bank account to your Ignition Poker account, but there’s one more account you’ll need to open: a Bitcoin exchange account. Again, for security purposes, we recommend a regulated exchange instead of a peer-to-peer exchange, where you trade directly with other Bitcoin users. The fewer third parties involved, the better. Here’s a list of recommended Bitcoin exchanges for you to consider.

Anytime you make a Bitcoin deposit at Ignition Poker, you’ll first use your digital wallet to send funds from your bank account to the Bitcoin exchange. The wallet will generate two pieces of code: a public key and a private key. The public key lets you receive funds from other people, which is why it’s public. The private key, which you definitely want to keep private, allows you to send Bitcoin to other people.

When it’s time to make that transfer from the bank to the Bitcoin exchange, you’ll be asked to cut and paste the appropriate key into the appropriate field when you make your transaction – or, if you have the technology, you can scan the aforementioned QR code to make things even easier. After you’ve converted your funds to crypto, the same process will take place when you move those funds from the exchange to your Ignition Poker account. Withdrawals also happen the same way, only in reverse, sending funds from your Ignition account to the Bitcoin exchange.


Are There Any Bitcoin Fees?

Aside from ease of use, one of the best things about crypto is how small Bitcoin fees are compared to using credit cards or other deposit/withdrawal methods. Unless you’re trying to move a very large amount of money, Ignition Poker doesn’t charge any additional fees for making deposits or withdrawals with Bitcoin. However, your Bitcoin exchange and your digital wallet provider may charge a small transaction fee. Make sure you know what fees you’re paying before moving any Bitcoin around.


Playing Online Poker with Bitcoin

Once your Bitcoin transaction with Ignition Poker has been completed, it’s time to hit the felt. Your funds will be automatically converted to US dollars and placed in your account, so you can play the same great poker games as everyone else. When you withdraw money from Ignition using Bitcoin, we’ll make the conversion back to crypto for you.

To find out more about Bitcoin transactions at Ignition, check out our FAQ and Help guides, as well as the other chapters in our ongoing Bitcoin guide. See you at the tables.