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SOFTSWISS – Crypto Integration in iGaming

SOFTSWISS - Crypto Integration in iGaming
by
December 14, 2023
in Companies & People, iGaming News
249

In the world of online gambling, digital currencies have emerged as a transformative force. Celebrating the 10th anniversary of its Crypto Casino Solution, SOFTSWISS, a leading tech company in the iGaming industry, reveals that more than 70% of projects on its Casino Platform now support digital currencies. Furthermore, a notable 15% of monthly payments are executed in cryptocurrencies, highlighting the growing prominence of crypto in the iGaming landscape.

The Evolution of Cryptocurrency Integration

In 2013, SOFTSWISS made history as the first tech company to embrace the potential of digital currencies. Beginning with Bitcoin, the company has since expanded its cryptocurrency offerings to include nearly 20 different digital coins. This evolution reflects a strategic move to stay ahead of industry trends and cater to the preferences of an increasingly tech-savvy user base.

Advantages of Crypto Payments in iGaming

High Transaction Capacity

The Cryptoprocessing by CoinsPaid, utilized in the SOFTSWISS Crypto Casino Solution, ensures an exceptionally high throughput of payments, nearing 100%. This capability contributes to a seamless and efficient payment process for both operators and players.

Swift Transaction Speed

Cryptocurrency payments provide an expeditious and efficient process, allowing for the swift receipt of funds after transactions. This speed is a significant advantage in the dynamic world of online gambling where quick transactions are crucial.

Cost-Effectiveness

Operators leveraging crypto payments gain a cost-effective advantage through reduced fees. This not only benefits the operators but can also translate into better incentives and promotions for players.

Simplified KYC Procedure

The streamlined Know Your Customer (KYC) procedure alleviates operational burdens for operator support teams during withdrawal processes. This efficiency enhances the overall user experience and reduces friction in financial transactions.

Maximum Anonymity

Players can maintain maximum anonymity when making deposits, thanks to minimized disclosure of personal information or identifiable data. This feature aligns with the growing demand for privacy in online transactions.

Industry Insights and Responsibility

Max Trafimovich, Chief Commercial Officer at SOFTSWISS, emphasizes the strategic imperative of integrating digital coins in the iGaming industry. He states, “In the iGaming industry, integrating digital coins is not only a trend but a strategic imperative. The significance of cryptocurrency lies in its ability to transcend traditional payment barriers, offering players a secure and efficient financial experience.”

SOFTSWISS, committed to elevating player experience, introduced the In-Game Currency Conversion feature in 2022. This innovation enables players with crypto holdings to seamlessly engage in games initially designed for fiat currency transactions. One year post-launch, a staggering 85% of all bets in crypto casinos powered by the SOFTSWISS Casino Platform were made via this feature, underscoring its success and acceptance among players.

Industry Leadership and Knowledge Sharing

As a pioneer in crypto-friendly solutions, SOFTSWISS acknowledges its responsibility as an industry trendsetter. The company actively shares its extensive expertise through quarterly analytical reports detailing the state of crypto within the iGaming sector. These reports serve as a valuable resource for industry stakeholders, fostering awareness and facilitating a deeper understanding of prevailing trends.

In addition to reports, SOFTSWISS is gearing up to launch a series of in-depth podcasts focused on cryptocurrency topics. Led by the company’s top experts, including C-level management, these podcasts will provide audiences with insights and discussions on various crypto-related subjects. The official launch of the crypto podcasts is imminent, offering a unique opportunity for industry professionals and enthusiasts to delve into the intricacies of the crypto landscape.

Conclusion

The journey of SOFTSWISS over the past decade reflects a commitment to innovation and a proactive approach to industry trends. The integration of cryptocurrencies in the iGaming sector is not just a trend for SOFTSWISS but a strategic imperative, and the company continues to lead the way in shaping the future of online gambling.

Frequently Asked Questions (FAQ)

How did SOFTSWISS contribute to the integration of cryptocurrencies in iGaming?
SOFTSWISS became the first tech company in 2013 to embrace digital currencies, starting with Bitcoin, and has since expanded its offerings to include nearly 20 different cryptocurrencies.

What advantages do crypto payments offer in iGaming?
Crypto payments in iGaming provide high transaction capacity, swift transaction speed, cost-effectiveness, a simplified KYC procedure, and maximum anonymity for players.

Why is the In-Game Currency Conversion feature significant in crypto casinos?
The In-Game Currency Conversion feature introduced by SOFTSWISS allows players with crypto holdings to seamlessly engage in games designed for fiat currency transactions, contributing to 85% of all bets in crypto casinos.

How does SOFTSWISS share its industry expertise with stakeholders?
SOFTSWISS actively shares its expertise through quarterly analytical reports detailing the state of crypto within the iGaming sector.

What role does cryptocurrency play in redefining financial norms in iGaming?
Cryptocurrency transcends traditional payment barriers, offering players a secure and efficient financial experience, positioning iGaming operators at the forefront of digital innovation.

How has the adoption of crypto payments evolved since SOFTSWISS’s inception in 2013?
Since 2013, more than 70% of projects on the SOFTSWISS Casino Platform support digital currencies, with 15% of monthly payments made in crypto.

What is the significance of maximum anonymity for players in crypto transactions?
Players can maintain maximum anonymity in crypto transactions due to minimized disclosure of personal information or identifiable data.

How does SOFTSWISS contribute to the awareness of prevailing trends in the iGaming sector?
SOFTSWISS contributes to industry awareness by providing quarterly analytical reports on the state of crypto within the iGaming sector.

What inspired SOFTSWISS to launch a series of crypto-focused podcasts?
The company aims to deepen industry understanding by launching podcasts featuring insights and discussions on various crypto-related subjects led by its top experts.

When is the official launch of SOFTSWISS’s crypto podcasts?
The official launch of SOFTSWISS’s crypto podcasts is imminent, offering industry professionals and enthusiasts an opportunity to delve into the intricacies of the crypto landscape.

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I am an avid Blogger and Writer with more than 6 years of experience with Content Writing. An Online Marketing expert specializing in Blog writing, Article writing, Website content, SEO specific Keyword content and much more. Education B.A. - business management, York University, Canada, Graduated 2016.

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