GGPoker is not just the world’s biggest online poker platform, but also one of the greatest innovators in the online poker arena. Most recently, the operator launched Escrow Trade, a brand-new way for players to complete P2P trades within GGPoker in a secure and transparent way.
P2P trading is not new, as online poker players have been trading various in-game currencies for years. However, the trades were always completed through unofficial channels, which has resulted in hundreds of cases of complete or partial fraud.
With GGPoker’s Escrow Trade option, players can now trade tournament dollars, tournament tickets, and other promotional currencies without any risk. The integrated marketplace gives players new options and finally creates a secure environment for players looking to make such trades.
- Or get up to $100 worth of rewards
- Available in many regulated markets
- Great MTT schedule including WSOP events
The New GGPoker Service Is Free for All
Over the years, we have seen online poker operators introduce many features that help resolve common player problems, with the “all-in cashout” being one such feature. Yet, in most cases, operators have charged a fee to all users looking to take advantage of the new feature.
The most recently added Escrow Trade does not fit into this pattern, as GGPoker won’t be charging any fees in this marketplace. Instead, transactions will be free of any charge, meaning GGPoker will take all the costs of operating it.
The new marketplace will give players the opportunity to sell their currencies on the official platform with full transparency. No longer will such transactions be shrouded in a veil of mystery and cause anxiety to the unsuspecting sellers.
P2P Trading Away from the Forums
Ever since the early days of online poker, forums like 2+2 have brought poker players together, with many of them using such sites to trade currencies, move money between sites and payment methods, and take care of other bankroll issues.
While the majority of all P2P transfers facilitated through such forums were always completed in a timely fashion and with no major issues, there were always individuals in this space who were looking to take advantage of unsuspecting victims.
Thanks to GGPoker’s new Escrow Trade platform, players will now have a chance to complete the entire trade within the platform, from the moment they set up their ad to the moment a buyer sends them cash.
The process will help keep players away from unofficial channels and ensure that all trades are completed in a timely fashion and paid for in full.
GGPoker’s blog wrote: “For years, players have been finding each other through forums, Discord servers, and social media to arrange trades. And while the poker community is largely built on trust, informal P2P trading carries real risk. There is no protection if the other party disappears, no recourse if a trade goes wrong, and no way to verify the person on the other side is who they claim to be.”
How Exactly Does Escrow Trade Work?
By now, you are probably wondering how exactly Escrow Trade works and how you can use it to sell your GGPoker currencies or buy yourself some tournament tickets.
Fortunately, the entire process is very smooth, and GGPoker has fully integrated it into its platform, allowing players to sell and buy currencies with absolute ease.
Here is how it works:
- Create a Listing: The seller sets up a listing, citing the currencies they are trading on Escrow Trade.
- Communicate: A potential buyer can contact the seller through a dedicated chat room within the app. The two parties can discuss the details of the trade and arrange it.
- Initiate the Transaction: The seller sets up the transaction on their part, transferring the agreed currencies to GGPoker.
- Complete the Payment: The buyer is given 30 minutes to 24 hours to complete the payment in full.
- Verify: The seller must verify they received payment or file a dispute. If a dispute is filed by either side, GGPoker’s agents will work on resolving it. If the transaction is verified, the escrowed currencies are released to the buyer.
If you are serious about selling or buying virtual currencies at GGPoker, the entire process is very smooth and takes no more than a few minutes.
Any GGPoker player can access the platform, create a new listing, or browse through the existing listings to find an order they may be interested in buying.
It’s worth noting that only users in jurisdictions where P2P transfers are legally allowed have access to this feature, with UK players being a major example of a group that won’t have access to Escrow Trade.
Yet, the vast majority of all GGPoker users will be able to sell their tournament dollars and other GGPoker currencies or make purchases from other users via the new marketplace.
Thanks to GGPoker’s great dedication to this project, players will now be fully protected from any potential scams, with every transaction guaranteed ahead of time by the operator.
