Online poker site CoinPoker recently made a significant move towards transparency by releasing a proof of reserves (PoR) report, demonstrating that user deposits are fully covered in cold wallets on the blockchain. This report also shows additional reserves in hot wallets for instant withdrawals. Former Austrian footballer and poker pro Mario Mosböck has joined the site as an official ambassador, along with British pro Patrick Leonard, with the goal of building the best online poker site in the world.
CoinPoker, founded in 2017, stands out among online poker sites by using Tether (USDT) for bets and leveraging blockchain technology to ensure the safety and segregation of user funds. This approach contrasts with the Full Tilt Poker scandal in 2011, which shook the online poker world when user funds were mixed with operating funds, leading to insolvency.
In addition to USDT, CoinPoker accepts various cryptocurrencies like Bitcoin, Ethereum, Solana, and Binance Coin, as well as its native token CHP. The site also incorporates security measures such as Fireblocks vaults and a decentralized RNG software for fair gameplay, utilizing Ethereum’s Keccak-256 algorithm.
Mario Mosböck, known for his success in live and online poker tournaments, has accumulated over $11.7 million in live earnings and recently partnered with CoinPoker under the screenname ‘livinmydream.’ Patrick Leonard, a seasoned poker pro and coach, has also joined the team to help create a safe and top-tier online poker room.
CoinPoker’s PoR report emphasizes its commitment to customer security, with reserves covering 105% of customer deposits totaling $16 million. The company’s Curaçao eGaming License ensures regulatory compliance, while funds are stored in cold storage for security and instant withdrawals are processed via hot wallets.
To celebrate the release of the PoR report, CoinPoker is offering players free entry into a $40k GTD Sunday Special tournament. New players can benefit from a 150% up to 2000 USDT matching bonus on their first deposit, and CHP holders receive 33% rakeback on their gameplay.
Overall, CoinPoker’s dedication to transparency, security, and player satisfaction sets it apart as a leading online poker site in the cryptocurrency space. With ambassadors like Mario Mosböck and Patrick Leonard on board, the platform aims to provide an exceptional gaming experience for poker enthusiasts worldwide.