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CoinPoker switches to USDT

Author: Vargoso Published: 28.09.20

From October 1, 2020, CoinPoker will migrate all its tables to USDT — a stablecoin linked to the USD exchange rate. The site will keep using its own coin, CHP, but only for rake purposes.

CoinPoker switches to USDT

CoinPoker: new features of the room and CHP

Since its launch in 2017, CoinPoker has operated with the CHP crypto coin. Also, the poker room has made many efforts to attract new players to its tables:

  • Added 6+ Hold'em, PLO5, and Spins;
  • Launched a decentralized RNG;
  • Held the Crypto Series of Poker twice;
  • Doubled the prizes of the Galactic Grinders regular rake race and added a Bad Beat Jackpot.

But none of these steps has contributed to the popularity of CoinPoker. The site has only 20-25 cash tables, mostly at micro-stakes, even during peak hours.

CHP Graph

CHP rate since the end of the ICO (early 2018)

One of the main reasons for this situation was the currency.

CHP showed low liquidity, and increased volatility even compared to other cryptos. Its current rate: 1CHP = $0,0033.

Therefore, the room was losing its marketing appeal, and players complained that even after finishing a game session with profits, they saw a smaller amount on their balance due to exchange rate fluctuation in dollar terms.

USDT: new in-game currency

The CoinPoker management has found the only possible way to bring their players the much-needed stability:

From October 1, 2020, all tables in the room will switch to USDT.

This new feature will bring two advantages:

  1. The stakes and stacks at the tables will look familiar to poker players;
  2. Higher stakes would be possible as pros like Tony G, Isabelle Mercier, and Robert Campbell were "fans" in the room.

USDT itself will also bring:

  • High transaction speed;
  • Liquidity from the Tether token;
  • Reliability proven by time.

CHP and USDT: two currencies, different purposes

The current currency, CHP, will not disappear even after the games switch to a new coin. The two currencies will have different purposes:

  • If there are CHP on the players' balance, those will be used only for paying rake. Also, every Monday, players will get 20% rakeback in CHP;

If the player has only USDT on his account, then the rake is paid with this coin, but there will be no rakeback;

  • At the cashier, it will be possible to convert to one coin or another;
  • You will be able to withdraw CHP and USDT to wallets in the same coin, for via BTC/ETH;
  • The balance in both coins will be displayed in the lobby.

Two promotions will be announced to celebrate the update: a tournament series and a rake race, with an overall prize pool of 100,000 USDT.

Reach our team to get a deal at CoinPoker:

Telegram: @kapitonoff

Skype: Contact


Email[email protected]

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Rakeback 15%

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