Crypto gambling turnover grows to 31%, SoftSwiss and CoinsPaid report

SoftSwiss and CoinsPaid, have recently shared their exclusive insights into the currently fast-growing market of cryptogambling. The brands marked a rapid expansion, which was previously also seen in the SOFTSWISS Game Aggregator Q1 report, as crypto turnover increased to 26% at the end of March. Current crypto turnover has grown to 31%, bypassing the earlier figure just in two months' time.

The data further supports a strong trend in the fast-paced growth of crypto gambling. The share was rated at as little as 6% at the end of Q1 2020 when it continued to step on fiat's heels.

CoinsPaid CEO Max Krupyshev, 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."

The COO at SOFTSWISS 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".

SOFTSWISS is a pioneer in the cryptogambling market, as the innovative tech brand was the first in the world to launch a crypto online casino, powered by its own Online Casino Platform and the CoinsPaid crypto processing solution.

CoinsPaid provides a range of services aimed at delivering easy, convenient, and secure access to operations in crypto and fiat currencies, both for business and individual needs.