This is because all games at the Chico Network are denominated in dollars, and so this is the currency you'll use to play. Then when you request a payout later on via Ethereum, your dollars will be converted back into virtual coins and sent to your Ethereum wallet. After evaluating its popularity, the network decided to permit Litcoin transactions as well in April Both of these moves gave it a competitive edge over other internet poker sites, but the Winning Poker Network fought back by expanding its crypto-currency offerings just a few weeks ago to include more than 70 digital coins.
We can thus view Chico's rollout of ETH funding mechanisms as the latest attempt to secure for itself the adulation and rake of crypto coin enthusiasts. Why Ethereum? With Bitcoin still making the transition from plaything for tech geeks to mainstream fintech instrument, you may be wondering whether there's enough demand for Ethereum in the world of poker.
Well, although Bitcoin is clearly still the leading decentralized currency, Ethereum is solidly in the 2 spot. Ethereum therefore makes sense as the next crypto coin for the Chico Poker Network purely from the perspective of how much it's worth. There are other advantages to Ethereum that might allow it to make gains at the expense of its big brother Bitcoin. While BTC blocks take about 10 minutes, more or less, to be written to the blockchain ledger, blocks for ETH are almost always completed in less than a minute.
Money movements are thus much quicker on Ethereum. Furthermore, ETH miners fees are typically much lower than those associated with Bitcoin. These fees are paid to miners who use their computers to verify the details of transactions and thus keep the crypto-currency networks operating smoothly and honestly. Ethereum also contains a framework for smart contracts and user-created tokens that expand the role of what blockchain technologies can bring to the table.
Another poker site, called Virtue Poker, is preparing to launch a card room that will supposedly leverage these capabilities to enhance game security and eliminate the possibility of insider cheating. It's too early to tell if this effort will ultimately pan out the way its founders hope, but it does highlight the possibilities inherent in using Ethereum for real money online gaming. The Chico Network hasn't indicated that it will implement anything this newfangled into its product offering.
Unless you have spent the last twelve months on a different planet, you should know that this has been the year of cryptocurrencies. It is a blockchain-based platform with many aspects. Launched in , ETH made many early investors extremely happy in , as the currency value grew by 7, With publications like Fortune and Forbes advising investors to get into the ETH bandwagon before it's too late, it would be crazy not to try to get some of the ETH available at the events on CoinPoker's schedule.
How to play at CoinPoker Unlike the traditional poker sites, CoinPoker is a poker room built on blockchain technology that offers great value to poker players and investors interested in cryptocurrencies. The poker room launched in November , and is backed by Antanas "Tony G" Guoga , the visionary entrepreneur, politician, and cryptocurrency enthusiast legendary poker bad boy.
If you did not buy CHPs during the Pre-ICO, you can still get some for free by joining the site's 5,, freeroll promotion more info here.
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What you have above is a hand-picked selection of the best ethereum-friendly online poker rooms. Game Fairness A bunch of online poker rooms are notorious for cases of RNG software breaches that give undue advantage to some players, rogue poker site employees, and hackers. So the impregnability of an Ether poker site is a top priority if every player is to get a fair chance of winning. Reliability and Reputation It is only reliable if its system is secure, providing the necessary level ground for fair play.
You want to be assured your funds are tamper-proof, your identity is uncompromised, and your earnings can cash out reliably and fast too. You do not want to shell out your hard-earned Ether tokens to an online poker room that cannot be trusted, now do you? We thought so, too. Online Traffic and Running Tables The best online poker rooms are like so because they attract enough quality online poker players to compete with each other.
A major advantage of online poker is the ability to join a table whenever and from wherever. So, how well-visited an online Ether poker room is matters. Currency Conversion and Rates Also, you likely already know using the same currency in a poker room helps smooth out the game in the first place. While some sites accept Ether deposits and then convert the balance into another popular currency such as US dollars or Euros, others are native Ethereum poker sites built on the Ethereum blockchain platform.
Like the best Bitcoin online poker sites, Ether poker rooms relieve players of the risk of loss due to fluctuating cryptocurrency prices. So, basically, the best cryptocurrency poker sites ensure a fair conversion process that is also fast and stable to ensure players neither makes stupendous gains when the value of a cryptocurrency rises or dimming losses when its value tanks. It takes 10 minutes to get your Bitcoin transaction through, for comparison sake.
Likewise, a decent Ether poker room should ensure fast transaction speeds whether you are just making a deposit into your Ether poker wallet, or withdrawing from it. From here on out, we will refer to Ethereum as a currency by way of the moniker ETH, which is how you will see it represented on any exchange and, by extension, any poker site. Before you can begin playing poker with ETH, you must acquire it. For new users, the easiest way to acquire ETH is by way of an exchange.
Once you have ETH in your possession, you can then deposit at any real money poker site where Ethereum is offered as a banking option. If you fancy yourself a casino player as well, it would behoove you to know that most Ethereum poker sites also offer a variety of casino games, including live dealer casino games. In most cases, you are able to transfer Ethereum and then play poker games with your cryptocurrency represented in terms of US Dollars as most people are not able to quickly decipher how much USD a given amount of ETH is worth.
There are a few sites that do not convert your ETH as such, but most do.
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