Here at CoinPoker we love our players and we want them to be able to have full control of their funds.
Free deposits and unlimited withdrawals of all currencies have been our objective since day one.
However, it was made impossible due to a bunch of people who started using our in app exchange for investing purposes only and having no intention of playing.
We were faced with a tough decision to either put a fee on deposits or a limit on withdrawals and we chose the latter.
The decision was met with a wave of complaints from our players and as a result we will be trying something new to ensure players can withdraw whenever they want, as much as they want.
Starting on the 8th of June, the 1 Million CHP withdrawal limit for all currencies will be changed in the following manner:
- ETH/BTC/USDT withdrawals will have no more limits making sure players feel safer and are able to withdraw their funds anytime.
- CHP withdrawals and P2P transfers will have a new limit which will be counted according to the formula: Balance on the 8th of June + (CC * 20).
Note, that the weekly 1 Million withdrawal limit for CHP withdrawals and P2P transfers will also stay active, but we will be looking to remove it if we find the solution to be effective.
Example: On the 8th of June player has a balance of 100,000 CHP. He then generates 1,000 CHP in form of CC and tries to withdraw.
Should the player choose ETH/BTC/USDT withdrawal options, there will be no limits. However, if he wants to withdraw CHP in particular, he will be able to withdraw his starting balance plus 20 times the raked amount for a total max withdrawal of 120,000 CHP.
As the player keeps on playing and generating Community Contributions his withdrawal limit will keep on increasing.
Based on player statistics we have found that even the most winning players have a CC to win ratio of 1:10, which means that this withdrawal limit should not cause any inconveniences for people who actually play at CoinPoker tables.
Investors who are not looking to play, however, will have to buy on 3rd party exchanges thus driving the price up.
Here are the benefits to the change:
- ETH/BTC/USDT withdrawals are no longer limited. Players can withdraw as much as they want when they want it. The 1,000,000/week limit is lifted. You are now in full control of your funds again.
- This formula will prevent any future abuse, where CoinPoker is used as an exchange, instead of a poker platform.
- If this method proves to be successful in preventing abuse, the 1,000,000/week limit for CHP withdrawals will be removed as well.
- CoinPoker will be able to hold larger amounts of funds on the withdrawal wallets and make sure they are refilled more frequently.
Please have in mind that with these changes we aim to have free and limitless CHP withdrawals as well as deposits for all crypto currencies.
This is the first big step towards the goal.
Have a question? Feel free to ask us anything in the comment section below or join our growing community on Telegram.