This article was paid for*
Crypto-based poker platform CoinPoker, has made an announcement this week that aligns with the industry’s growing trend towards player-friendly policies.Â
The platform has revealed that all cashout fees have been eliminated, meaning players will only be responsible for the standard network transaction fees when withdrawing their funds.
This decision puts CoinPoker in the same category as Rollbit, one of the largest crypto casinos, which also does not charge any cashout fees.
By eliminating these fees, CoinPoker aims to provide a more favorable experience for its players, allowing them to withdraw their winnings without incurring additional costs beyond the necessary network fees. It’s simple – any platform user likes to see that there are no withdrawal fees.
Moreover, the 20% pump this week in the native token of Rollbit, RLB, which is often referred to as the “Bitcoin of crypto casinos,” might have a positive impact on the entire sector.
Just as a Bitcoin pump is generally viewed as a positive sign for the broader crypto market, Rollbit’s token performance could potentially benefit other crypto-based platforms like CoinPoker.
Summary
What is CoinPoker?
CoinPoker is a crypto-based poker room developed by players for players. Its primary objective is to build a poker platform that caters to players of all skill levels, providing a welcoming environment for everyone.
At the core of CoinPoker’s operations is its decentralized Random Number Generator (RNG) software, which is open for testing and improvement by cryptography and poker experts.
This ensures fairness and reliability in the card dealing process. Additionally, the platform offers a Hand Hindsight feature, allowing players to review undealt cards from previous hands, enhancing their gaming experience.
CoinPoker’s community plays a crucial role in shaping its strategic decisions, and the platform operates solely with USDT, a cryptocurrency pegged to the US dollar. Players have the flexibility to withdraw their balances in BTC, ETH, and USDT, with instant withdrawal times for ETH and USDT, and a few hours for BTC.
CoinPoker offers a variety of poker games for players to enjoy, including Texas Hold’em, Pot Limit Omaha, and 5-Card Pot Limit Omaha.
These games are available at different buy-in levels to fit various budgets, and new players can easily learn the rules by clicking on the game of their choice.
The increased visibility of CoinPoker across prominent crypto and technology publications such as Business Insider, Decrypt, Invezz, ReadWrite, and Benzinga this week is a testament to the platform’s increased marketing efforts.
Such campaigns are crucial for CoinPoker to establish a strong brand presence and differentiate itself in the competitive crypto betting market.
Tournament Details
The CSOP tournament series, hosted by CoinPoker, promises to be an exciting event, featuring 41 events over the course of 10 days, from April 19th to April 29th.
With a total prize pool of $1,000,000 and an additional $10,000 in added value, the series offers buy-ins ranging from $20 to $5,000 and guaranteed prize pools ranging from $1,000 to $200,000.
Catering to a diverse range of poker enthusiasts, the CSOP will feature No-Limit Hold’em (NLHE), Pot-Limit Omaha (PLO), and Pot-Limit Omaha 5 (PLO5) events, ensuring a varied and engaging experience for participants.
This week Tony G’s High Roller Tournaments saw huge prizepools, with the $25K PLO event prizepool reaching $921,500 (24 players) and the $25K NLHE prize pool amounting to $824,500 (25 players). The #Falcon tournament ($1K NLHE) attracted 206 entrants, sharing a $260,160 prize pool.
Cash game action at CoinPoker has also heated up, with some 300k pots as the CSOP main event on Sunday draws closer.
The CoinPoker Twitter is now running a $500 ticket giveaway to the main event, with one lucky player receiving that for retweeting the above post, following and commenting with their CoinPoker username.
CHP Coin and Its Utility on CoinPoker
CHP (a play on poker ‘chips’) is the ERC-20 token utilized on the CoinPoker platform, enabling players to deposit and withdraw funds using ETH tokens or CHP.
Transactions to and from CoinPoker are publicly visible on the Ethereum blockchain, ensuring transparency without compromising security.
Holders of CHP can store the tokens in various Ethereum wallets, including MyEtherWallet, Metamask, Jaxx, Exodus, and hardware wallets by Ledger and Trezor.
Within the CoinPoker ecosystem, CHP tokens serve various purposes. Players can earn 33% rakeback, receive a 50% bonus on leaderboard points, and facilitate peer-to-peer transfers using CHP. Recently, the platform underwent a token swap to improve transaction costs, speeds, and deposit / withdrawal options.
During this process, the old CHP token became obsolete, and a new ERC-20 CHP token was deployed on the Ethereum network. Existing CHP holders received a 1:1 airdrop of the new token, maintaining the same supply.
The current market cap of CHP stands around $10 million, as per DEXScreener. The 99Bitcoins channel has also recently highlighted CHP token in a video.
Conclusion
CoinPoker’s decision to eliminate cashout fees aligns with the broader industry trend towards player-centric policies.
By removing these fees, the platform demonstrates its commitment to providing a fair and transparent gaming experience for its users.
Initiatives like these are likely to gain traction, fostering a more favorable environment for players who use this platform.
The recent positive performance of Rollbit casino’s native token, RLB, may have a ripple effect on the sector and tokens like CoinPoker’s CHP.
*Cryptonomist did not write the article or test the platform.
