Industry Insight

Industry Insight

Crypto Is The Future

Alexey Sidorowich addresses the emerging trends in the online gaming industry and the role of cryptocurrencies

Online gambling is growing at an incredible rate with the sector expected to be worth $94.4bn by 2024. This comes at a cost, though, with tighter regulation and even restrictions in some regions expected to occur.

Competition in the igaming industry will continue to be fierce, meaning both B2C operators and B2B software solutions will need to offer higher quality products. Gambling platforms will have to find new ways to satisfy the sophisticated needs of punters and customers.

The market changes rapidly and to stay competitive, businesses need to analyse, study and constantly search for new marketing tools to elevate their offerings. Free spins or more entertaining games will factor into this, but in the end fast and secure deposits will impact customers’ choice in line with tightening regulation and AML procedures. Cryptocurrency and its high-quality processing of transactions will define the rules of the game.

THE ADVANTAGES OF CRYPTOCURRENCIES

Transparency makes cryptocurrencies a perfect choice for both operators and players. The technology is instant, involves no steep transaction fees, saves a lot of effort and decreases risk and costs for the operator, all while eliminating a row of middlemen. Players’ account balances are instantly credited and an irreversible transaction history adds security.

WHAT SHOULD CRYPTOCURRENCY OFFER?

CoinsPaid commissioned market research to determine what requirements a leading igaming cryptocurrency payment gateway should satisfy.

Among the findings were:

  • Highest levels of security;
  • Instant transaction confirmation;
  • Elimination of crypto volatility risk;
  • Crypto-to-fiat autoconversition for fiat currency games;
  • Supporting of all popular cryptocurrencies;
  • 24/7 professional support.

CRYPTOCURRENCIES FOR IGAMING

CoinsPaid conforms to the highest industry standards and works with more than 150 companies from various industries, including the gambling, ecommerce and exchanges fields. Security is ensured by, among other things, a hot and cold wallet system, 2FA, and protection from DDoS and SQL injections, as well as external audits by the world leaders in cyber security practices.

CoinsPaid provides partners with outstanding tech and business support. Our support team is available 24/7 and we provide training materials to enable our customers to become fully acquainted with the product. On top of that, being a partner you can request a new feature to ensure a perfect fit with your existing business.

CoinsPaid’s handy multi-cryptocurrency B2C wallet allows regular users to make direct transactions to any wallets as well as execute prompt currency exchanges. Corporate invoicing enables companies to set up a payment link to trigger a cryptocurrency payment in a Fiat currency of their client’s choosing.

It’s clear that the online gambling industry and cryptocurrencies are tightly connected. To ensure a rapid cryptocurrency penetration into the igaming market, all that’s needed is a toplevel processing service. There are a few great companies out there – and we’re confident that CoinsPaid is one of them.

NAME: CoinsPaid
FOUNDED: 2015
SECTOR: iGaming, Affiliate Network, Exchanges,
eCommerce
WEBSITE: CoinsPaid.com
TWITTER: @CoinsPaid

Alexey Sidorowich

ALEXEY SIDOROWICH has more than seven years’ experience developing and launching gaming and financial apps, including online casino, crypto exchanges, eAuctions and eMarketplaces. Alexey provides unique market expertise and innovative technical background for CoinsPaid as its head of business development.