Online poker site CoinPoker has released a proof of reserves (PoR) report showing that user deposits are covered 1:1 in cold wallets, visible on the blockchain, alongside additional reserves in hot wallets to process instant withdrawals.
Praising the move by the crypto-based poker site to increase transparency, former Austrian footballer and poker professional Mario Mosböck has partnered with the site as a new official ambassador, alongside British pro Patrick Leonard.
In an X post, Mario Mosböck stated the pair’s ‘mission is to guide the new leadership group to build the world’s best online poker site.’
Users can read CoinPoker’s proof of reserves report here.
Building A Top Online Poker Site With Cryptocurrency
Founded in 2017, CoinPoker is a relatively new crypto poker room and casino, but increasingly ranked among the top online poker sites by the likes of Card Player Magazine, PokerScout and Techopedia.
Unlike conventional internet poker sites that use fiat currency, on CoinPoker players bet with Tether (USDT) and the site is able to take advantage of the blockchain to show user funds are safe and segregated.
Online poker was rocked by the Full Tilt Poker scandal in 2011, in which user funds were co-mingled with operating funds, and the company went insolvent in the industry’s ‘Black Friday’.
Many top poker sites increasingly accept cryptocurrencies as a deposit method, but CoinPoker is among a small and growing contingent to go ‘all in’ and embrace it for all actions at the poker table. Players can deposit USDT, Bitcoin, Ethereum, Solana, Polygon, Binance Coin or its own native token CHP which unlocks 33% rakeback for holders.
