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CoinPoker Announces the Elimination of All Cashout Fees Amid its Annual CSOP Tournament

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CoinPoker is a well-known crypto betting app and the largest crypto poker platform in the world. 

Its team announced yesterday in a post on X that it has eliminated all cashout fees on the platform. Only standard network transaction fees will apply to customers’ cash withdrawals from this point on.

The move came in the middle of the platform’s annual Crypto Series of Online Poker (CSOP) tournament, which started on April 19 and will last until April 28.

The tournament series will feature 41 events, with $1 million in combined prize pools.

The project attracted much attention recently and was featured on Decrypt, Invezz, and Benzinga today.

CoinPoker Eliminates Withdrawal Fees

CoinPoker announced that it has eliminated all withdrawal fees apart from the ones that users will have to pay to the blockchain network itself. 

The popular casino is not the first one to eliminate withdrawal fees, as rivals such as Rollbit have done so already, establishing a trend that CoinPoker has now joined. 

Previously, the platform charged nominal fees which were needed to ensure security and stability. However, the platform can now eliminate the fees without compromising stability or security.

The move could result in multiple benefits, such as bringing new users to CoinPoker and enabling existing users to wager more money that was previously spent on fees. Furthermore, the platform could also see an improved ranking on SimilarWeb’s list of top platforms in the poker category.

Currently, CoinPoker ranks 90th in the category, up by 14 places in the last month.

CoinPoker’s CSOP Tournament Series is in Full Swing

The decision to eliminate the fees came in the middle of the platform’s yearly event — Crypto Series of Online Poker. 

The event is inspired by the World Series of Poker (WSOP), and over the years, it has grown to become one of the biggest online crypto poker tournaments.

The tournament started on April 19 and it will last until April 28, featuring 41 events with a wide range of buy-in levels, which go from $20 openers to the Grand Finale main event.

The tournament is open to players globally, who can make anonymous deposits using cryptocurrency. It is also well known for having high-stakes pots, with the largest one also holding a record of the largest online poker pot in history, sitting at $7.75 million.

Further, a big part of the tournament is the participation of Antanas Guoga, better known under the name of Tony G. 

This world-renowned poker player has taken on the mantle of CoinPoker’s ambassador and representative, and his involvement grants additional credibility to the tournament and the project itself.

About CoinPoker and CHP

CoinPoker is a crypto poker site that launched in 2017. It features a native cryptocurrency called CHP — an ERC-20 token that provides rewards and incentives for token holders, the ICO for which was completed in January 2018.

The wagers on the platform are handled in USDT; however, holders of CHP earn 33% rakeback while they play.

The CHP token price has seen a slight increase of 0.67% in the last 24 hours, which places its value at $0.058. 

DEXTools: CHP/USD 4-Hour Chart

While the token is down by 43% annually, the removal of the fees could help its price recover, allowing it to follow in the footsteps of Rollbit’s native crypto, RLB, which has seen a 672% increase in the last year.

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