We at CoinPoker always strive to bring you the best product possible. That also includes the tools needed to access and use our platform. Up til now we have been offering BTC, ETH, and CHP deposit and withdrawal options and now we are adding USDT, also known as Tether.
What is USDT
Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S. dollar. The idea was to create a stable cryptocurrency that can be used like digital dollars. Coins that serve this purpose of being a stable dollar substitute are called “stable coins.” According to their site, Tether converts cash into digital currency, to anchor or “tether” the value of the coin to the price of national currencies like the US dollar.
Below you can see how the USDT has traded over the past year, in relation to the US Dollar.
Benefits with USDT
The main upside is that it’s less volatile and it won’t fluctuate nearly as much as other cryptocurrencies.
A CoinPoker player can use USDT to deposit which is then converted to CHP and he is then ready to hit the tables. After the session, if the player chooses, he can withdraw back to his verified wallet in USDT rather than CHP or ETH. The next time he returns, the balance in his USDT wallet will, in relation to USD, remain the same thus giving him a stable option to hold his winnings until the next session. This makes USDT very different compared to the other options that we offer in CHP, BTC or ETH, coins that are not pegged to FIAT currencies and can drop or skyrocket in price at any time.
Tether is an ERC20 token, meaning players will be able to hold it on the same wallet they use for CHP or ETH. Transaction fees applied are also the same as with all ETH transactions.
For more information on the deposit and withdrawal process, please read our:
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