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Cryptocurrencies are continuing to be accepted to be used for financial transactions at online casinos. The SOFTSWISS Online Casino Platform have introduced an in-game currency exchange. Not all games support cryptocurrencies, however this new feature will allow those who are using, for example, Bitcoin, to play them.
This is a problem that needs solving. Those players who have opted to use a cryptocurrency for their financial transactions were only able to play games that accepted them. If the game provider didn’t allow the use of cryptocurrencies, then this would present problems.
Playing at online casinos has become increasingly popular in the UK, especially when gamblign sites offer new customers great incentives, including payments via crypto and e-wallets like Paypal. If you are interested in trying licensed slot games, then finding out more about the current casino deals and existing promotions that are available can prove very helpful indeed.
Players at internet casinos wanting to play certain games having to create a flat balance so that they could do so. Why would this be a problem you may ask? It’s to do with the desire not to reveal too much personal information. There is the fear by some users that using for example, debit or credit cards may lead to serious problems if there is a security breach.
There is more personal information that is available to potential fraudsters when using those payment methods at online gambling sites. That’s not the case with cryptocurrencies. With the flat balance, due diligence procedures must be carried out and this includes having to give details such as their full name, address, and date of birth.
With this new feature, those players using a crypto balance will not need to go through that process. A flat currency can be selected and the balance that the player has in cryptocurrencies will then be converted. The rate at which this is calculated will be that used at CoinMarketCap.
This means that the betting history of in-game bets made by the player will be registered In the flat currency. However, when it comes to any winnings or bonuses and change in their account balance will still be in the cryptocurrency that is being used at the online gambling site.
Everything will be transparent because the exchange rate that is being used will be visible to the player. Any recalculations that are required for their base balance will also be available.
This will all mean that it will not be necessary to register a flat balance. Nor will it be necessary to make a deposit when wanting to play games such as baccarat, slots games or take part in the live casino section.
This means that players will now have access to more games. There are over 170 game providers on the SOFTSWISS Casino Platform. There will be additional flat currency pairs introduced in the future, but initially crypto bets will be registered as US Dollars.
In the past a currency exchange feature has been used with crypto dice brands. That has had the result of producing large numbers of players trying their luck on casino games.
The Chief Operating Officer of SOFTSWISS is Andrey Starovoitov. He’s delighted at the fact that because of this new feature, more games will be available to play. Their entire game portfolio will now ben available to play by those using cryptocurrencies. Mr Starovoitov said that they are also “simplifying the entire player journey and gameplay experience.”
The move is good news for crypto-casinos that use the SOFTSWISS Online Casino Platform. The current limitations on game providers will be removed leading to more casino games to play. The currency exchange feature will also be available on those casinos that hold a Curacao licence.
The SOFTSWISS Online Casino Platform has shown great support to cryptocurrencies. This year has seen them add NEO to the list of cryptocurrencies that they support. Last year saw them make deposits, withdrawals, and gameplay available on their platform when using cryptocurrencies Binance Coin, TRON and Cardano. They already allowed the use of over 20 cryptocurrencies including Bitcoin, Litecoin, Dogecoin and Ethereum.
Vaadim Drozd is the Head of Payments for SOFTSWISS and is a strong believer in the use of cryptocurrencies. He said that they have continually shown that people are interested in using them because of the “opportunities they offer.” This has seen a big increase in the numbers who use cryptocurrencies for online gambling. This has led to more online casinos offering them as payment methods.
SOFTSWISS were the first company in the world to come up with a cryptocurrency solution for iGaming. The number of cryptocurrency-optimised games has gone through the 3000 mark. They also have over 300 iGaming brands on their platform.
It appears that the future will see them continuing to embrace cryptocurrencies. This will see more of them available to be used on their platforms. More solutions to the problems that still exist will be worked on making it easier for players to use cryptocurrencies.
