The Poker Industry Needs To Transition From Traditional Financial Transactions To Crypto: PokerFi is the Token and Platform To Do That

The Poker Industry Needs To Transition From Traditional Financial Transactions To Crypto: PokerFi is the Token and Platform To Do That

Today, there are industries that move billions of dollars a year such as video games, computers, food, medicines, and more. In the constantly moving market, many transactions are now made in cryptocurrencies. But one of the important industries that has not moved to the crypto world is poker.

The poker industry still uses traditional financial transactions, which translate into many deficiencies within the poker market due to the complexity of large transaction values. But a new actor in the poker industry that can respond to these inconveniences: the PokerFi token.

“The PokerFi token aims to revolutionize transactions in online and live poker. It is a token connected to the BEP20 network, Binance’s Smart Chain. PokerFi has the objective to provide innovation in financial transactions in the online and live poker industry.” As it says on their website.

Some countries restrict access to poker, and there are platforms where after the person makes a deposit of $100,000 and wants to withdraw without playing, the platform charges a tax. This would not be the case using PokerFi tokens.

PokerFi comes to bring knowledge of the cryptocurrency universe to poker players. It also has a smart passive income system, which gives the poker community an even greater incentive to use it as a means of payment for tournament entries.” They explain.

For the poker industry, it would be a mistake not to adapt to new trends and continue to use old fashioned financial transactions. This could cause stagnation or run the danger of being trapped for many years.

PokerFi has come to show the poker industry that there are other options to be explored. With PokerFi those people who were restricted in different countries can now connect with people from around the world to play poker through the PokerFi Blockchain.

Poker is a community that moves billions of dollars a year, and we will work to make some of these transactions through the PokerFi token.” 

PokerFi was developed thinking of three major pillars:

  1. Enhanced Defi: PokerFi Holder is not required to place their coins in play to earn returns because it is done automatically through the smart contract By having the coins in the decentralized wallet paid in dollars and the more transactions occur in the currency, the higher the passive income paid by the contract.
  1. Enhanced Deflation: PokerFi holders who wish to live on dividends alone do not need to sell their coins to make any profit as they receive their income in dollars. 

Poker Games: Being a utility coin, PokerFi will be used on its own poker platform to pay for among other things tournament registration, cash entries and buy-ins within MarketPlace, and NFTs websites, all linked to the blockchain.

PokerFi is different from other platforms because they will have the best Rakeback offer because the concentration of profits of the company is through monetary transactions that will be used as a means of payment.

“PokerFi will be able to offer the best freerolls giving utility to investors’ money through cryptocurrencies. You can take your balance in cryptocurrency, buy PokerFi to have fun playing on our poker platform and the whole platform will be linked to blockchain.”

At PokerFi, they are currently working on their online poker gaming platform which will be launching in Spring. They are also finalizing the details of the PokerFi wallet where there will also be a PokerFi P2P transaction exchange, which will be fully linked with PancakeSwap.

The PokerFi team announced that registration fees for tournaments and cash games will be paid on PokerFi, while prize distribution will be in BUSD (Binance Dollar StableCoin). 

“Holders who have more than 35,000 coins will receive a percentage of the platform’s profits, where 10% of the profits from NFT’s and MarketPlace and 5% of all rake profits will be paid. You buy PokerFi, store it in your wallet, and once a week on random days will be distributed BUSD referring to the profits of the Platform.”

Learn more about PokerFi and how to play poker through this community here.