Neteller to Accept Bitcoin Deposits

According to PokerStrategy and other media reports, the e-wallet Neteller will soon begin accepting Bitcoin deposits. If you're an avid reader of PokerSoftware, then you know Hold'em Manager began accepting the virtual currency in January and rumors have been flying that PokerStars will soon follow suit. It seems like there's a Bitcoin tidal wave in the software world.

According to PokerStrategy, "This would be the first time poker players would have an indirect opportunity to use Bitcoin currency to deposit onto major poker sites. While they would still not be able to make a direct deposit, now they can do so via a Neteller account, which would then convert the money into cash to deposit onto poker sites." This is pretty historic in general, which is why we're covering it on PokerSoftware.

PokerStrategy explained that there's no fee for depositing with Bitcoin, which makes it even more attractive. Bitcoins have been long embattled as the currency seeks to establish legitimacy. However, there are brick-and-mortar ATMs in Las Vegas for Bitcoin and many mainstream retailers accept it.

When we wrote about Hold'em Manager accepting Bitcoin in late January, there were reports that the software's sister company, PokerTracker, would begin doing so as well. PokerTracker and Hold'em Manager both accepting Bitcoin could prompt plenty of other software companies to follow suit.

The price of Bitcoin has fluctuated wildly, if you haven't been following it. As one poster on PokerStrategy put it, "I remember reading an article about Chris Koch, who bought 5,000 Bitcoins at the beginning for $27, forgot about it, then went to check the account and they were worth $1,010,000."

In related news, Neteller's parent company, Optimal Payments, has agreed to buy rival Skrill for €1.1 billion. As one analyst put it, "We believe the combination of the two wallets will remove the friction created by competition for merchants and customers."