2018 is going to be one of the most important years for Poker fans all around the world. Not just due to the real-life tournament but because of the various online Poker platforms that will emerge.
With the help of cryptocurrency and the Blockchain technology the game of Poker as most people know it will drastically change.
Today we are going to talk about one of those brand new platforms which is called CoinPoker.
It is still early though so we are going to emphasize on the CoinPoker ICO and how to invest in it.
First of all let’s start by the beginning.
What Is an ICO?
9 years ago almost nobody knew what a cryptocurrency was but soon after Bitcoin took off people started becoming accustomed to this new type of “cash”.
Nowadays new terms keep on popping up one after another. An ICO is an example.
So what exactly is an ICO? Have you heard of an IPO?
It is sort of Initial Public Offering and it is the process some new companies go through in order to raise money by selling a big part of their shares.
The Initial Coin Offering (ICO) is pretty much the same thing but about a “form” of cryptocurrency rather than shares and instead of money you can purchase some with the use of Ethereum or Bitcoin, which are two of the most popular cryptocurrencies available at this moment in time.
Why Should You Invest In ICOs?
The more suitable question would probably be “Why wouldn’t you” but let’s not be negative here. All in all, you are just starting your journey to learning how this type of things works.
Let us give you an example. Let’s say that Apple, one of the most successful technology companies worldwide, was about to launch its very first product. If you knew for sure that this particular product was going to be sold like crazy then you would be the crazy one if you didn’t invest in it.
Now think of CoinPoker. It is a new technology (we will elaborate on that later) that is guaranteed to do well, if not great.
So its ICO gives you the chance of not only investing in it by purchasing some but you are almost guaranteed to have a very large profit in return.
From the moment a new coin hits the market and an ICO is available then chances are that you can make a lot of money should you invest in it.
How To Invest In It
The CoinPoker ICO is planned to be carried out in three stages, the Pre-ICO, the ICO Stage I, and last the ICO Stage II. Now, if you wanted to make it to the very first then we are sorry to tell you that the Pre-ICO stage started on mid-November 2017 and was quickly over.
ICO Stage I has already started (January 19th) and judging by the fact that the Pre-ICO was over in only 6 days, you don’t have very much time left to make your move.
The second stage, however, will be available soon. Just so you know, this particular ICO works with Ethereum so you can purchase CHP (CoinPoker coins) by using Ether.
Here is what 1 ETH can buy on each of the 3 stages.
- Pre-ICO (Sold Out) 1 ETH = 6,600 CHP (100,000,000 CHP Hard Cap)
- ICO Stage I 1 ETH = 4,200 CHP (137,500,000 CHP Hard Cap)
- ICO Stage II 1 ETH = 3,500 CHP (137,500,000 CHP Hard Cap)
The ICO’s CHP (375,000,000) consists 75% of the total coins that will be distributed (500,000,000).
How can you get some of these tokens?
Well, first of all, you would have to get an Ether Wallet. You can do that in various ways but the one advised by the CoinPoker official site is to use MyEtherWallet and the process of creating one is mentioned there as is very simple. After you do that you would have to purchase and fill up your Ether Wallet with some Ethereum.
After visiting the site of CoinPoker you would have to click on the “Get Tokens” button. Copy the smart contract (row of characters) that pops up and paste it on the “To Address” box located in the “Send Ether & Tokens” page of your eWallet. In the “Gas Limit” box input the number 200000 and hit the “Generate Transaction” button. You have now purchased CHP.
Now you will have to add some to your ETH wallet. In the “Token Balances” section select the “Add Custom Token” option. Then enter the smart contract address, the symbol “CHP”, and the amount in their respective fields and then click “Save”. That’s it.
Finally, you have to deposit CHP to your account on CoinPoker. Log in, click on the wallet icon and then copy the specific amount and the wallet address mentioned. This is a procedure to verify that you really own the wallet you have provided before.
Go to your eWallet and fill in the fields with the specific details you copied before. For this transaction, is advised by the site to use 60,000 gas. After some minutes the wallet will appear in the deposit window.
Now that your wallet is verified you are good to go. Just fill in the amount you want to deposit and you are done. For more details, you can always visit this page. Just know that the ICO will end on January 26th.
Now, according to the official CoinPoker site, the CHP token will be available in exchanges in February and some days after that it will be available on CoinPoker as well. Players will be able to start playing in late February or beginning of March and as soon as April kicks in Android and iOS devices’ portability will be also available.
How Is CoinPoker Different From Traditional Online Poker?
What do you really know about traditional online Poker?
You create an account on a site like Poker Stars, download a launcher, deposit some money and start playing. With cryptocurrencies as well as the help of CoinPoker and smart contracts this is all about to change.
The launcher remains put but the system running behind it is a totally different story. Smart contracts are a way to verify and authorize all transactions made through a Blockchain and make sure that the whole system operates smoothly without any problems.
Based on that protocol, everytime a player joins a Poker table, calls, raises, folds, or performs any other action that would require the use of money then the system kicks in and ensures the safety of his funds as at the same time they are locked to make sure that both him and the other players on the table will not lose money in the case something goes off, like an internet connection failing, for example.
If something like that were to happen, the funds of the player would be returned provided that there truly was a problem and that the player didn’t disconnect/leave the table on purpose. Determining which of the two happened will be very easy thanks to the smart contracts system.
Depositing and withdrawing money will be simple as pie. As mentioned before, the deposit transactions can be carried out hassle-free as soon as your wallet gets verified. When you want to withdraw your winnings then the system will automatically convert the CHP to Ethereum and store it in your eWallet.
Make sure that you get some coins in the ICO because you will be able to win even more if you get to win the upcoming tournaments. The prize pool is about 16 million and 9.5 million CHP for the first and second tournament respectively.
Things To Know
The first thing you need to know is whether there are any geological restrictions. Indeed there are some.
If you live in the United States or reside in any other country like Puerto Rico, the Virgin Islands, or any other territory which is operated under the control of the US then, unfortunately, you will not be able to play on CoinPoker.
According to the site though, the CoinPoker team is working on getting the US government to allow the entry of American citizens to the site and thus the platform.
So now that you know all about CoinPoker ICO and how to invest in it you can and absolutely should join the CoinPoker ICO train now that a big part of CHP is still up for the taking.
Do not let other people beat you in the race for big money. Be smart and get some while there is still some time left to do so.
Be sure to follow both CoinPoker’s official site and our own so that you can keep up with all the latest updates on the online cryptocurrency gambling world.
Get more information on The Best ICOs For Online Poker.