The drive for Bitcoin acceptance continues even with its already impressive usage records. Bitcoin is still in a niche in the world economy and that is far away from what its advocates have wanted for it. They want parity with fiat currencies and increased usage it the pathway to that. This is why Winning Poker Network’s shift to Bitcoin for payment to its affiliate is such a big boost.
Background and how it works
Winning Poker Network announced its policy of going Bitcoin for its commission payments to its affiliates last month and implemented it beginning this month. The membership of the Network includes some of the best online poker sites out there like Americas Cardroom, so affiliates are assured of high conversion rates.
It also helps that the Winning Poker Network organizes cross-network events that help attract players like the Punta Cana Poker Classic, which has a guaranteed prize pool of around half a million, and the High Five Tournament Series, a run of over 25 tournaments spread over five days. These tournaments encourage people to join while affiliates, if they play their cards right, can increase their potential earnings.
For those who are curious about how it works, the system should be pretty easy to understand. The payments are made to an affiliate’s account and they can immediately withdraw it following a simple procedure.
First, they need to go to the poker client and click on “Cashier” and then click on the “Withdraw” button. Next, they need to click on “Popular eWallet” and then click on “Bitcoin.” They will be asked to enter the amount in US dollars that the affiliate wishes to withdraw. Affiliates may want to check the conversion rate first to be sure of the exact amount.
Once the account has been confirmed, the client will ask for a Bitcoin wallet address to send the money to. After that, the affiliate just needs to confirm the transaction. The affiliates will be required to have a valid email address so that they can confirm their withdrawal, though.
Good for everyone
With the Winning Poker Network’s affiliate program paying Bitcoin, it is great news for Bitcoin. People would be exposed to the cryptocurrency and its use. Familiarization with Bitcoin through this method can raise its profile and the affiliates may end up becoming new converts to the Bitcoin cause.
This switch is also good for the Bitcoin casino affiliates. Fiat currency payments are often slow to be processed and require intrusive data checks. This results in affiliates leaving the money in their accounts, thinking it would be too much of a trouble to withdraw. With Bitcoin, payments can be done quickly and anonymously. Affiliates can then spend their money elsewhere or even wager on Bitcoin games online.
Overall, this is a win-win situation for all of those involved. The Winning Poker Network’s Bitcoin switch is a good move and should benefit both the Bitcoin economy and the network’s affiliates.