Crypto has been buzzing for the last couple of years. What started as a project that only interested the most serious and speculative investors has turned into a worldwide craze.
Bitcoin was the cryptocurrency that started it all. Kicking off in 2009 with next to no value, the trailblazing currency rose at a snail's pace until 2017, starting off the new year valued at slightly less than $1,000.
Then the insanity started.
By the middle of the year, Bitcoin had more than doubled in value and investors were cracking open the champagne and congratulating each other. But it didn’t stop there.
The publicity of what was happening caught the imagination of the public, inciting those who previously had no interest into buying some cryptocurrency of their own. The bull rush finally peaked with Bitcoin hitting its all-time high of $19,783.06 on 17 December 2017.
Just imagine if you had got in early when they were still going for $13 a piece.
Many high-profile poker players have been known to spend a fair bit of time investigating which cryptocurrencies offer the best risk-reward. Matt Kirk was rumoured to have made close to half a billion US dollars with his savvy bitcoin investment.
How Can Poker Players Make Money With Crypto in 2020?
There are still numerous ways to get involved with crypto investing in 2020. Bitcoin might have lost more than half of its peak value, but that’s not the end of the story.
The most obvious way to start is to make a small purchase and hold until the value rises. The length of time you hold can vary wildly. A cryptocurrency that is known for volatile price swings is ideal - Bitcoin and Ethereum fit the bill here perfectly.
Staking a cryptocurrency is another great way to make money that is little known to outsiders. By holding a cryptocurrency in a wallet 24/7 you not only take advantage of positive price swings but you also get paid a dividend for staking the coins.
Tezos (XTZ) is a prime example of a cryptocurrency that rewards investors with this method, paying out as much as 6% per year.
Another way coin stakers earn with this method is when more people adopt the use of Tezos.
Where Can I use Cryptocurrency
You might not be a hardcore investor and just interested in trying out something that is seen as the future.
With this in mind you will be asking where can you spend cryptocurrencies. The answer is all over the place.
Many online poker rooms and casinos are now offering all of their transactions in many popular currencies. You can seek out generous deposit bonuses and take comfort in the fact that these transactions are generally cost free.
You will find many mainstream online stores will now accept payment in Bitcoin and the like. Shopify and other e-commerce websites are well ahead of the curve in this respect.
Bitpunter - How Can Transmining Help Players?
Bitpunter is a new and exciting online poker room and casino, unlike any other. Looking from the front they offer pretty much the same services as many others in the industry, but there’s a couple of innovative wrinkles in their approach.
Firstly, they are the world’s first full licensed crypto poker room and casino. Just think how long many of their rivals have been around and still not managed to reach that stage.
Secondly, how they pay out to their customers is revolutionary, and threatens to change the industry from the inside out.
Players are awarded Bitpunter tokens in accordance with the amount of gameplay registered and at what stakes. These tokens then have the potential to earn additional income.
Bitpunter reserves a net 80% of their daily gaming revenue, to be distributed to all the holders of Bitpunter tokens. Playing in their poker room or casino actually mines new coins, and they see it only fair to share the spoils.
This two-pronged approach to satisfying their customer’s needs and handing out extra value is unprecedented. 2020 will be an interesting year observing just how many rival companies try to copy what Bitpunter has started.