Winning Poker Network is one of the most popular Poker networks on the market. Players flock to the different sites that are under the WPN umbrella. Formed in 2001 it has been forward thinking for 20 years now. An example of this is how willing to use Bitcoin as a payment method it was.
With many other sites still offering antiquated methods, it was a little bit of a shock when WPN took the step. At the time Bitcoin was still under $1,000, so it shows how WPIN was an early adopter. Accepting it for payments in 2014 was seen as an extremely risky move at the time. Since then there have been a large number of players choosing to use Bitcoin as both a deposit and withdrawal method.
Bitcoin Payouts Above 90%
The Winning Poker Network has been extremely open about how it handles Bitcoin. It’s done a number of interviews where it explains the reasoning behind Bitcoin being used as a payment method. It was initially to give players more choice. However, this has changed as BTC became a much more prominent force.
WPN has made it clear that it has to do a lot of crypto trading when players use BTC for payments. This is in terms of both buying and selling. Firstly, when the price increases players at WPN tend to make withdrawals using BTC. This is because it’s an easy way to accumulate an asset that’s increasing in price.
When the price is falling though, players make deposits using BTC. This is a quick way for players to liquidate their holdings. It means that players at WPN are almost using the network as a cheap crypto broker. There are obviously risks involved by carrying out this method, but there are rewards too.
Bitcoin Players Bluffing at the Poker Table
The price of Bitcoin has been increasing for quite a while now. In fact, it’s more than doubled in value from what many thought would be its upper limit. With BTC showing a lot of volatility at the moment, it is a risky way for players to make payments. Especially as playing Poker has the potential for players to lose their stake. But, with BTC being more difficult to accumulate, even when using DCA, it does offer the chance to get a large chunk of it in one go.
With Bitcoin predicted to potentially reach $500,000 over the next few years, this method could be very lucrative for some lucky players. An example of how players can accumulate without losing any BTC has been explained by some employees of WPN. They have said that there is the ability to make a deposit with fiat and then a withdrawal with crypto.
So if players only made deposits with fiat and withdrawals with crypto, it does mean that the potential for larger accumulation is possible.
WPN Expects Fluctuations in Usage
What WPN has said is that the percentage of players using crypto payment methods does change. They commented that it has risen as high as 95% while the price of BTC is rising. However, they’ve also said that it can fall as low as 60% when the price is falling. What this does say is that even when BTC isn’t setting new ATHs, the majority of players at WPN are still using it to make payments.