CoinPoker: Leading the Way in Online Poker With Unmatched Transparency

Proof of Reserves: Building Trust in Crypto

On July 27, CoinPoker made a significant announcement on X (formerly known as Twitter): the platform now offers “proof of reserves.” This means CoinPoker is openly showing that it holds more than enough assets to cover all customer deposits. Specifically, CoinPoker has $17.44 million in assets, while customer deposits total $15.84 million. This shows a reserve ratio of over 100%, which is a rare and impressive feat in the online gaming industry.

In the world of cryptocurrency, “proof of reserves” is a big deal. It’s a way for crypto companies to show that they have enough assets to meet all their obligations. This practice gained attention after the collapse of FTX in 2022, when the exchange failed to meet withdrawal demands due to a lack of liquidity. Since then, many crypto platforms have started to publicly disclose their reserves to build customer confidence. CoinPoker, now goes public with this!

CoinPoker: Setting a New Standard in Online Poker

CoinPoker is leading the online poker industry by fully disclosing its reserves through transparent wallet addresses. This is possible thanks to blockchain technology, which allows real-time verification of holdings. By storing customer assets in both hot and cold wallets, CoinPoker ensures complete transparency. Users can easily check if the platform’s holdings match their deposits, which are visible on CoinPoker’s website.

Currently, CoinPoker holds over $17.44 million in reserves, which is 10% more than the total customer deposits. This means that CoinPoker has not only met but exceeded its goal of maintaining a 1:1 reserve ratio at all times.

Notably, 60% of CoinPoker’s assets are stored in cold wallets, which are more secure than hot wallets. This approach significantly reduces the risk of hacking and ensures the safety of customers’ funds.

Boosting Trust in Online Betting

The online gambling market is growing rapidly, with the US market alone valued at $9.5 billion in 2021. However, a KPMG survey found that only about half of American bettors trust online operators to act fairly and protect their information. This highlights a significant need for greater transparency and trust in the industry, and CoinPoker is stepping up to meet this challenge.

To further ensure the security of its funds, CoinPoker has partnered with Fireblocks, a leading digital asset security firm. This partnership ensures that CoinPoker’s funds are stored in highly secure vaults that require multiple levels of authorization for any transaction. Additionally, CoinPoker holds a Curaçao eGaming License, demonstrating its commitment to legal and regulatory standards.

With these measures, CoinPoker is positioning itself as the most trusted online crypto poker platform.

Join CoinPoker Today

If you’re looking for a secure and transparent online poker experience, CoinPoker is the platform for you. Join now and receive a $2,000 USDT welcome bonus to get started! When thinking about cryptocurrencies and CoinPoker, you immediately start to think it’s only applicable for high roller players, but the opposite is true. CoinPoker offers a diverse range of tournaments to suit every budget and playing style.

Their daily Signature Tournaments include popular Big Bangs and Big Stacks, with Sundays bringing even higher stakes. They provide Freebuys and Freerolls for free entry, while their Satellites allow you to enter larger tournaments at a fraction of the cost. For those who enjoy fast-paced action, their Turbo and Hyper Tournaments are perfect, and Progressive Knockouts (PKO) are heavily present.

Overall, CoinPoker is a strong competitor in the market of online poker operators, ensuring full transparency in terms their status in the market.