[PRESS RELEASE – Willemstad, Curacao, August 10th, 2024]
Online poker site CoinPoker has published a Proof of Reserves (PoR) report showing that user deposits are covered 1:1 in cold wallets, visible on the blockchain, along with additional reserves in hot wallets to process instant withdrawals.
The former Austrian footballer and poker pro praised the cryptocurrency-based poker site’s move to increase transparency. Mario Mosböck has partnered with the site as a new official ambassador, alongside British professionals Patricio Leonard.
In a Publication XMario Mosböck said the pair’s “mission is to guide the new leadership group to build the best online poker site in the world.”
Users can read the CoinPoker site Booking test report here.
How to Create a Top-Notch Online Poker Site with Cryptocurrency
Founded in 2017, CoinPoker is a relatively new cryptocurrency poker room and casino, but it is increasingly ranking among the best online poker sites according to sites like Card Player Magazine, Poker Explorer and Techopedia.
Unlike conventional online poker sites that use fiat currency, at CoinPoker players wager with Tether (USDT) and the site can leverage the blockchain to show that user funds are secure and segregated.
Online poker was rocked by the Full Tilt Poker scandal in 2011, in which user funds were mixed with operating funds and the company declared insolvency during the industry’s “Black Friday.”
Many of the top poker sites are increasingly accepting cryptocurrencies as a deposit method, but CoinPoker is among a small and growing contingent that is embracing them for all action at the poker table. Players can deposit USDT, Bitcoin, Ethereum, Solana, Polygon, Binance Coin, or their own native token CHP, which unlocks 33% of their deposits. rakeback For the headlines.
For added security, CoinPoker also utilizes Fireblocks vaults and a decentralized RNG (random number generator) software whose randomness can be verified by players after each hand, using Ethereum’s Keccak-256 algorithm.
CoinPoker signs Mario Mosböck and Patrick ‘Pads’ Leonard
28-year-old Mario Mosböck, who played as a striker for Austrian football club Wiener Neustädter SC, has recently made a name for himself in the live and online poker scene.
He now has more than $11.7 million in recorded live tournament earnings, including a first-place finish at the Triton Super High Roller Series in Jeju for $1.1 million and a second-place finish at the 2023 WPT Big One for One Drop for $4.6 million.
Fountain – triton-series.com
Mario players under the handle ‘livinmydream’ on CoinPoker are often seen in high-stakes battles in cash games of $25/$50 PLO and above.
Patrick Leonard is a former PartyPoker ambassador and currently sits at number 38 on England’s all-time money list according to poker database Hendon Mob. His total live earnings exceed $3.1 million (including a WSOP bracelet) and his online winnings of over $19.2 million have seen the 35-year-old often ranked among the world’s top online MTT players.
https://x.com/padspoker/status/1821575144504172892
Patrick, who is also a highly respected poker coach, mentors mid-stakes players on how to improve their games, with some of the players under his wing going on to win EPT, WCOOP and SCOOP events.
He describes his goal at CoinPoker as helping to “create the safest and best online poker room in the world” and worked alongside the site to produce its proof of reserves report.
Proof of Reserves on the Blockchain
In its PoR report, CoinPoker writes:
‘CoinPoker prioritizes customer security and peace of mind. Our operations are protected by a Curacao eGaming License, ensuring compliance with strict regulatory standards. We prove our financial integrity through Proof of Reserves, maintaining sufficient funds to cover all user assets. Proof of Reserves refers to the assets we hold in custody for users when they fund their accounts.
Here we provide proof that CoinPoker has funds held in reserve to cover all of our users’ assets on a 1:1 basis, as well as some additional reserves. It is important to note that this sum of funds refers to user funds only. CoinPoker’s corporate holdings, which are stored in completely separate wallets, are not taken into account in the proof of reserves calculations.
At this time, CoinPoker customer deposits total approximately $16 million, and the total assets held in reserve to cover them are just under $16.75 million, which is equivalent to 105% of deposits.
The exact amount of player deposits is dynamically updated every few minutes on the coinpoker.com website.
Links are provided to view those funds on the blockchain via etherscan.io, blockchain.com, bscscan.com, and other cryptocurrency tracking sites depending on the token.
Most funds are kept in cold storage for security purposes, and some in hot wallets to process instant withdrawals – players can deposit and withdraw funds within minutes via a MetaMask wallet or cryptocurrency exchange account.
To celebrate the release of the report, CoinPoker also announced an exclusive promotion for players to get free entry to the upcoming special Sunday tournament with $40,000 GTD, on the company’s website. Instagram and others social.
About CoinPoker
Licensed in Curacao, CoinPoker is available for free download on Windows and Android devices and hosts No Limit Hold’em, Pot Limit Omaha and other game types in both tournament and real money game formats.
New players get a 150% match bonus up to 2000 USDT on their first deposit, and holders of the site’s native cryptocurrency, CHP, get 33% rakeback on their gameplay.
Users can open a Coinpoker account here.
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