## Softswiss: Is Digital Currency Gaming the Future of Wagering?
The worldwide digital currency market is valued at a staggering £954 billion, presenting a massive chance for the wagering industry to seize.
Andrey Starovoitov, the chief executive at Softswiss, discussed with us why they’ve been at the forefront of digital currency casino software for the past decade.
**Softswiss: Is Digital Currency Gaming the Future of Wagering?**
**iGB:** Everyone is discussing the potential of digital currency in wagering, and Softswiss has observed a significant increase in transactions. What trends are you noticing with players? What kind of individual is the typical digital currency gambler?
**AS:** Digital currency users are generally younger than those who utilize traditional currency. They primarily hail from Canada, Germany, and Asia. Depending on their location and age, you encounter different types of digital currency brands. There are the early adopters like Bitstarz and MBit, and then there are the newer brands like Stake, Roobet, Rollbit, Duelbits, and BC.Game. These newer brands are striving to build a robust community around their brand, utilizing chat rooms and forums to attract and retain players.
These are merely a handful of the impactful factors, in addition to transaction velocity, demonstrably fair gaming accessibility, and other elements.
iGB: How does the ever-growing and demanding cryptocurrency marketplace impact early cryptocurrency adopters like Softswiss?
AS: I wouldn’t say the cryptocurrency gambling market is especially intense – rivalry is steadily increasing, but it’s far from its peak. We observe market behemoths taking an interest in cryptocurrency gambling, with many considering incorporating payment methods like Coinspaid to enable cryptocurrency deposits. Some are opting to launch separate cryptocurrency brands to bolster their portfolio with similar design and features to Stake.com, Bitstarz, MBit, Rollbit, Duelbits, Roobet, and BC.Game, providing new cryptocurrency-focused offerings.
Numerous market participants are displaying cautious interest rather than being eager to enter this specialized market. We can discern the logical reasons behind their behavior, such as a lack of cryptocurrency expertise or a robust team of specialists, difficulty in finding traffic to attract cryptocurrency audiences, cryptocurrency gambling regulations, and the stance of regulators towards cryptocurrencies, believing they don’t exist. Nevertheless, this specialized market is actively evolving, and the market leaders I mentioned previously are now being followed by new high-potential entrants who are capable of making significant progress, such as Stake.com in 2021.
iGB: How do you differentiate your crypto gaming offerings from the competition? What sets SoftSwiss apart from other players in the industry?
AS: We specialize in utilizing and incorporating digital currencies for gambling. We were among the pioneers in bringing cryptocurrencies to the B2B sector, and it’s a core aspect of our operations. We’ve assembled a team of specialists, developed products compatible with cryptocurrencies, and we’re constantly at the forefront of the latest developments in the crypto space.
All our products, including our casino platform, game aggregator, sports betting platform, jackpot aggregator, and Affilka, are designed to work with digital currencies. Our partner product, the Coinspaid crypto payment gateway, is the optimal solution for accepting crypto payments. For instance, our game aggregator supports over 50 game providers and 20 different cryptocurrencies. We can also integrate new cryptocurrencies based on the requirements of our clients and partners.
Our casino platform boasts a distinctive feature that enables players to convert their cryptocurrency balances to play games that don’t utilize cryptocurrency. Our sports betting and jackpot aggregator also function seamlessly with cryptocurrencies.”
The realm of cryptocurrencies in the gambling sector requires further understanding. Should the focus be on the operators of gambling ventures, the developers of gambling software, or the overseeing authorities?
Concerning government entities, it’s crucial for the gambling sector to collaborate more closely with regulators to determine how to effectively utilize cryptocurrencies. This area holds significant potential for expansion and is anticipated to become a substantial component of the gambling market in the future. Therefore, regulators should initiate consideration of how to incorporate cryptocurrencies into their existing gambling regulations. This approach would benefit all stakeholders by enhancing transparency and establishing guidelines for the utilization of cryptocurrencies in prominent gambling markets.
Regrettably, in most jurisdictions, government attention to this matter is limited. The rationale for this is understandable, as clear legal frameworks for the use and legalization of cryptocurrencies are often lacking. Furthermore, formulating regulations for their application in gambling presents an even greater challenge. However, it’s undeniably a worthwhile endeavor, and our organization is prepared to facilitate a bridge between businesses and government entities.
We provide comprehensive support, including information and technical assistance, to assist gambling businesses and game developers in adopting cryptocurrencies. Our products are designed to seamlessly accept all forms of digital currencies from the outset, and our specialists are readily available to address any challenges and guide our clients through the entire process of cryptocurrency integration.
We are convinced that instructing and directing operational groups on the utilization of digital currencies is a further area of expansion where we can enhance and fortify our product offerings.
iGB: Recently, Softswiss was recognized as the Cryptocurrency Company of the Year at the 2023 International Gaming Awards. What distinguishes you from your rivals in terms of cryptocurrency operations? What novelties have you introduced to the market in this domain?
AS: We are delighted to receive this honor, and more significantly, industry acknowledgment as a pioneer in the crypto gambling domain. The award genuinely reflects our strategy and enthusiasm – to make digital currencies readily available and user-friendly. Years ago, Softswiss bravely challenged the most advanced innovations and integrated cryptocurrency into gambling, propelling the industry to new levels.
I would venture to say, the nomination and award were not unexpected for us, as the company has made significant progress, refining its expertise, developing numerous functionalities, and adapting standard operations for a cryptocurrency audience. Nine out of ten crypto gambling leaders utilize our products. All of this demonstrates that Softswiss is the acknowledged leader in the crypto gambling space.
iGB: What are your forecasts for digital currencies in 2023? What could impede their widespread acceptance?
Although the cryptocurrency gambling landscape has experienced fluctuations, its user base and the sector itself are poised for continued expansion. Gamblers appreciate the swiftness, ease of use, and degree of privacy that digital currencies provide. We’re witnessing a notable surge in interest within this specialized market, with an increasing number of operators, including those at the forefront of the industry, integrating cryptocurrencies into their payment methods.
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