CoinsPaid and SoftSwiss both have recently shared their exclusive insights into the currently fast-growing market of cryptogambling.
The brands noted a rapid expansion, with SoftSwiss Game Aggregator Q1 report mentioning it as well, as the crypto turnover increased to 26% at the end of March. Current crypto turnover has grown to 31%, surpassing the earlier figure in only two months' time.
The data further proves that there is a strong trend in the fast-paced growth of crypto gambling. The share was rated at 6% at the end of Q1 2020 when it continued to step on fiat's heels.
CoinsPaid CEO Max Kruphyshev said, "The number of transactions processed via our services has been steadily increasing since 2019, but in 2020 we experienced a five-time growth in volumes. Since the beginning of the pandemic, the demand for crypto payment solutions has been rising, and we do not see this backing down now. Some obstacles still exist for crypto to be accepted everywhere, but we are already seeing a tremendous global change towards the subject reflected in new legal initiatives, CBDC development, and, what is more, important for us, large financial institutions starting to accept crypto and acquire crypto infrastructure projects. This all means that the crypto processing market is becoming more and more competitive and the race for first place in the sector is on. We are happy to state that today CoinsPaid is the number 1 payment provider in iGaming, and we are targeting other niches too. Going forward, we can expect that crypto processing will become widely spread across different economic sectors globally in a few years."
SoftSwiss COO Andrey Starovoitov commented, "BTC keeps going strong as it remains the most popular currency to date with 78.5% of iGaming market penetration. Its closest runner-up is ETH with 9%. Ethereum is yet another cryptocurrency players tend to go for in iGaming, which went through its ups and downs since its launch yet we don't see it bypassing bitcoin by popularity at this stage."
CoinsPaid provides cryptocurrency payment services and personal wallets, enabling customers to operate worldwide, reduce costs and reach new markets.
SoftSwiss is a pioneer in the cryptogambling market, as the brand was the first in the world to launch a crypto online casino, powered by its own Online Casino Platform and using the CoinsPaid crypto processing solution.
The cryptocurrency industry has grown a lot in the last 10 years and I think Bitcoin has made that thing to be possible. I don't know if they were the first, but many competitors copied from them and now other names appear very often. I think bankers invested a lot to be competitive with their new rivals.
for me this way of deposits and cashouts isnt something that I will use in near future,even probably limits are bigger,but at time that you want to make cashouts,you never know what value your crypto will have and how much you will get on end!ofcourse it can be bigger or lower and probably you will pay fees for this cashouts as we had news for party poker!
People still think that banks will let them use Bitcoin, but these banks are causing disaster in the cryptocurrency market. This thing proves that they are very scared of competition. Bitcoin Romania is struggling and building a network of crypto ATMs, that will reach at 300 units by the end of the year.
It is a good option to use cryptocurrency in many cases , gamblers use this option especially the last years . Ofcourse cryptocurrency is now very well accepted worldwide , by more and more markets , it has some disadvantages , but ofcourse online casinos andpoker rooms should provide payment optuons with cryptocurrency , as now it's very popular , or else they lose potential customers . I think in the future moreand more will use this payment option , the cryptocurrency .
The Internet makes a lot of money and this idea of inventing valuable virtual currencies was something very interesting and a financial generator of value in case of success. This thing has happened and now we will see how good it will be, for those who have many of coins. Depreciation can be a disaster for them.
There is no room for doubt. Investing in cryptocurrencies like Bitcoin or Ethereum is all the rage. There are many savers who already allocate a part of their assets to this new class of assets whose value has not stopped growing since its creation. Without a doubt, investing in assets whose price will not rise is very tempting. Therefore, it is important to assess whether cryptocurrencies such as Bitcoin or Ethereum have a place in a long-term investment portfolio.
Wow didn't expect that number. Transfering crypto currencies is some kind of gamble too, and it looks they like to gamble casinos too. Good for casinos haha, probably allot more of bigger sites will offer crpyto deposit's too. I hope those player will go and look into poker tables too, on my right of course if i can choose lol.
This Bitcoin , lol In 5 years from $600 in 7/16 to $19.000 in 12/17 , then to $3.200 in 12/18 , to $11.111 in 7/19 , to $5.000 in 5/20 , then $26.000 in 12/20 , $61.000 in 3/21 and finally today 7/21 it's $31.000 .LoL man , if you do not know whento buy and when to sell this currency , you'll lose money probably , so big ups and down , so soon . In 4 months it lost half it's price , $30.000 lol
thats problem with this crypto currencies,because you never know how they will change,up or down or they will be on same level! for example,we all know what happend when elon musk made tweet about bitcoin and how he will invest lot of money in it and how people will have option to buy his cars with bitcoin!it was huge jump of value just because of one man!same was when he told that he dont want bitcoin anymore!
Antonis, someone works very well with Bitcoin on the world market and this thing it looks very good. Such power could not be obtained so quickly, in just a few years, and some rumors say that the inventors of this virtual currency are actually the Americans, not the Japanese. However, many work with this currency and have given up normal money, because they have different opportunities...
Yeah you must know when and how to trade, that goes for bitcoin and other cryptos too. I don't have too much idea about it so i just stay out. But the ones who gets the most are those who are there at the beggining like every other thing. I even read somewhere that i tink in 2010 or something you register on faucet site and get 5 free btc reward lol.
I'm curious in the coming years how long this currency will last because the new US treasurer is talking about using virtual currency in "illicit financing". Investor fears about Bitcoin's performance have pulled down the value of the cryptocurrency, forming a support threshold of around $ 34,000. Be careful , guys.
For me, the Bitcoin gambling is risky. The rate fluctuates too much to accept this. In example, we organise tournament with 100B prizepool. It's around $3M. But after tournaments end (like PCA which takes 10 days!) this pool may be worth $2M or $4M. It's pretty difficult to organisators, and contestants too.
mysik86 but its not exactly like that,because this big sites dont have tournaments in bitcoins,you can make deposit with bitcoin,but they will change it to dollars,which you will use to pay buy in for some tournament,its not like that prize pool is in bitcoin! so this change will affect later,when you want to make cashout from for example party poker,you will need to luck how much it worth! prize pool i same for every tournament,have nothing with bitcoin!
Bitcoin is very risky for everyone, but there are smart people on this planet who do illegal business and make a lot of money. They can always use this virtual currency, but for us it is something terrible, because we can lose enormously with its depreciation.
@Dule-vu: Yeah you're right. But Bitcoin is still risky like Calicul said. First, you may launder money easy. If you make deposit or cashout with bitcoin, you may launder them fast. Now, sites offer credit cards or bank deposits, which is pretty trackable. But with Bitcoin is very hard to do that. So if I were a gangster or mafia (hey, we are on BRM ), the casinos with bitcoin would be the great place for me, to make my money clean
When states of the world have a meeting to make a deal, then Bitcoin could be better coordinated, and mobsters could miss the opportunity to do illegal business with people around the world. The price of this virtual currency would fall and it is good to keep an eye on politicians, so that they do not make decisions about it and to permanently verify activity and Bitcoin operations.
When you pay with a cryptocurrency, you don't have the same legal protections. If something goes wrong, credit cards and debit cards have legal protections. For example, if you have to dispute a purchase, your credit card company has a process to help you get your money back. Cryptocurrency payments are generally irreversible. Once you pay with a cryptocurrency, you can only get your money back if the seller sends it back to you.
Before buying something with a cryptocurrency, find out the reputation and address of the seller and how to contact him if a problem arises. You have to be very careful when making a payment, but crypto is the best
for now, it is good to be careful and not to invest all your money in virtual currencies. This may be an advantage or a disadvantage, but this is the situation, because we cannot predict the future. The chances of losing are always higher and it is good to be smart.
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