SOFTSWISS: Crypto iGaming Trends 2022
GZIRA, Malta, 9 May 2022 / PRNewswire / – Over the last few years, cryptocurrency revenue in the iGaming industry has grown significantly. that SOFTSWISS company report recently published confirms the growing adoption of cryptocurrencies.
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As the leading company in cryptocurrency gambling, SOFTSWISS shares the comparative data for the 1st quarter 2021 and 2022 based on results from gaming aggregator SOFTSWISS and casino platform SOFTSWISS.
Cryptocurrency betting: doubled growth
Along with the global trend showing the growing popularity of cryptocurrencies, the SOFTSWISS corporate report also demonstrates the continued development of cryptocurrency gambling. According to statistics, the sum of bets in digital coins in Q1 2022 has more than double compared to the same period last year. More specifically, it rose with 116.7%.
“Crypto gambling has become an independent, full-fledged and hugely promising industry. Brands that are suitable for these conditions have an advantage such as wider exploitation possibilities and therefore a wider audience,” he noted. Andrey StarovoitovChief Operating Officer at SOFTSWISS.
Division between fiat currencies and cryptocurrencies: a fading difference
Fiat currencies still hold the top spot, with 64% of the total volume. However, the share of cryptocurrencies is constantly growing. Compared to the same period last year, the crypto share increased in the first quarter of 2022 by almost 10 percentage points: from 26.3% to 35.9%.. Compared to the first quarter of 2020, the share of cryptocurrencies increased 29 percentage points. If this momentum continues, the share of fiat and cryptocurrencies could become equal over the next year.
Leading cryptocurrencies: Bitcoin sees its share fall
Though bitcoin is the preferred cryptocurrency since the introduction of SOFTSWISS, its share fell by 10 percentage points in the first quarter of 2022. This is due to the growing interest inEthereum and Litecoin, the main altcoins. Their share increased by 3.45% and 2.95% respectively. The exact share of the three most important cryptocurrencies in the first quarter of 2022:
1.Bitcoin (BTC) – 72.80%
2. Ethereum (ETC) – 13.45%
Litecoin (LTH) – 6.45%
Andrey StarovoitovCOO in SOFTSWISS, noted “Bitcoin will still be the most important cryptocurrency for deposits in the near future. However, the strong growth of other altcoins is showing interest in more technologically advanced currencies, such as Ethereum. More players will prefer to diversify their funds with other cryptocurrencies. This is a positive trend. related to market developments. “
The complete list of the most commonly used parts can be found in SOFTSWISS report.
Cryptocurrency Gambling 2022: What Can You Expect?
According to SOFTSWISS ‘results for the first quarter, cryptocurrencies will continue to grow and evolve in terms of currency holdings. The diversification of cryptocurrencies used for betting will be one of the important trends that will affect the sector.
“Strengthening the regulation of traditional casinos will also attract new operators to the cryptocurrency niche. We will see active growth in this segment as most of the current executives will join this niche. We can highlight what you need to start a successful crypto project based on our experience: managing crypto like Coinspaid, crypto exchange services and converting in-game currency for greater variety of game content, but new needs are already emerging, for example the use of NFTs to gamify the gaming experience and create a community of like-minded people around online casinos. ” summarized Andrey StarovoitovChief Operating Officer at SOFTSWISS.
SOFT SWITZERLAND is an international brand that provides certified and widely recognized software solutions for managing iGaming operations. SOFTSWISS has multiple gaming licenses, providing one-stop iGaming solutions. In 2013, SOFTSWISS was the first in the world to introduce an online casino solution optimized for bitcoins.