The most popular brands on the Pai Wang Luo Network, including Bodog, Bovada and Ignition, have begun accepting Bitcoin Cash as a deposit option.
Cryptocurrency is hitting the iGaming scene in full force in recent months, with popular poker networks and sites now beginning to accept not just Bitcoin as a deposit method, but also the many other types of “alt-coins” that are being mined and are currently in circulation.
Bitcoin Cash is one such alternative crypto option that saw its popularity and value skyrocket when the first-ever “bitcoin fork” happened earlier this summer. Along with standard bitcoin deposits, big-time poker sites like Bodog, Bovada and Ignition Poker have now begun accepting Bitcoin Cash as a deposit and withdrawal option.
Bitcoin Cash, which is the secondary version of its predecessor (aka Bitcoin itself) has the 4th highest market cap at over $5.5 billion and is looking to get even bigger in the coming months. It is also one of the hottest types of crypto on the scene right now, as it recently passed the very-popular Litecoin in terms of market cap and overall value.
How Can I Start Using Bitcoin Cash at Bodog, Bovada and Ignition?
This is rather simple, as the Bitcoin Cash option should now be automatically available in your Cashier screen once you’ve loaded up the poker software on your computer or mobile device. Similar to a BTC transaction, your deposit should be processed within 15 minutes.
You’ll notice that once you access this area your player admin, a dropdown box will appear with the usual list of deposit methods showing up IE credit card, Bitcoin and so forth. The last option will show the Bitcoin Cash icon and you should be able to select it and proceed with your standard deposit.
If for whatever reason it doesn’t show up for you, it is recommended that you email or call support right away and they will make sure that this particular option is available ASAP. There have been reported instances of the Bitcoin Cash method not showing up for some players.
Once again, just CALL support to get “BCH” opened up and ready for use on your account. Also, the use of this option is ONLY available Monday through Friday between 9 am and 5:30 pm EST.
How Will Bitcoin Cash Work in Terms of Conversion?
The conversion of Bitcoin Cash to USD (or whatever currency you’re using) will be no different than the regular Bitcoin method that’s been available for months already on Bodog, Bovada and Ignition.
Usually, the minimum deposit is $25 when you’re using Bitcoin, so in turn this is also the same threshold that is used for Bitcoin Cash. From there, all the brands on PWL will use real-time exchange rates to convert your Bitcoin Cash into standard currency.
From there, you can then use your newly-deposited BCH for real money play at cash games, sit and go’s and tournaments on any of your favorite Bodog websites, including Bodog and Bovada themselves. USA players will be able to use BCH at Ignition Poker and Casino only.
At the time of this publication withdrawals are NOT available, but that should change soon enough. It is assumed that you will be able to convert your funds back into standard Bitcoin and transfer them to your wallet of choice for the time being. You can also withdrawal via check or bank wire.
Can I Get a Quick Breakdown of What Bitcoin Cash is?
Simply put, Bitcoin Cash (“BCH”) was the brainchild of a rogue group of miners within the crypto community that broke away from the original BTC blockchain to form their very own form of cryptocurrency.
It has a larger block size compared to Bitcoin, making it capable of handling a lot more transactions per block than that of BTC. This has enabled BCH to ramp up a huge market cap since the August 1st “fork,” with no signs of slowdown heading into 2018.
The value per coin is nowhere near that of Bitcoin, but it has held its own in the volatile months since the initial breakaway from the BTC blockchain ledger. It had peaked to over $700 at one point, but has been holding firm at around the $300 to $350 per coin range.