Bitcoin and iGaming seem to go hand in hand these days, as the ever popular digital currency offers iGaming merchants an extra revenue opportunity. During the ICE Totally Gaming conference, which is currently ongoing, one of the days was completely dedicated to Bitcoin. It was during that day we were presented with a new breed of Bitcoin ATM, developed by SoftSwiss and Cubits.
SoftSwiss & Cubits – Bringing Bitcoin to iGaming
SoftSwiss is a company well known for their casino software, or to be more precise, their Bitcoin casino software. SoftSwiss recognized the potential of Bitcoin as a rapidly emerging alternative to both electronic money and traditional currencies. Online gamblers highly value their anonymity, and Bitcoin is offering exactly that option.
One of the more attractive advantages of running an online Bitcoin casino is the fact that you as a website operator do not require a gambling license. That is not to say it isn’t a good idea to obtain that license sooner or later, especially considering the fact you will receive significant savings on your license application and monthly fees.
For the players, their total anonymity is guaranteed thanks to the Bitcoin protocol, and they have full control over their finances at all times. Bitcoin payments are processed quickly and do not require users to verify their identity compared to when they want to pay with a credit or debit card. Plus, Bitcoin can be exchanged into any fiat currency the player desires, which is an added bonus.
Cubits – on the other hand – is one of the few Europe-based Bitcoin companies and is best known for their Cubits Wallet and Cubits Pay solutions. Cubits Wallet is a Bitcoin wallet for everyday users, whereas Cubits Pay is a custom designed Bitcoin solution for merchants all across the globe. Both services support 17 different currencies at this point in time.
The reason for the partnership between Cubits and Softswiss is to explain the ease of Bitcoin integration into existing gaming platforms and operators. Furthermore, Cubits will be handling Bitcoin payments for BitStarz, which is one of SoftSwiss’ biggest and most successful online casinos to date. On top of that, Cubits will also handle Bitcoin payments for Betchain and Princess Star.
For these online casinos, Cubits has added 2-Way deposit functionality. This helps customers simplify the way they deposit Bitcoin into their accounts, regardless of whether they have a Bitcoin wallet or not. Cubits handles the deposit of regular currency, instantly buys Bitcoin on behalf of the customer and transfers the Bitcoin amount to their gaming account. In doing so, Cubits helps online casinos move quicker into the Bitcoin arena while at the same time slowly integrating everyday players into using Bitcoin.
“With Cubits, we have found a strong partner for fiat-bitcoin payments, connected not only by language, but also a common ideology of bringing customers the highest degree of quality and innovation,” SoftSwiss CEO Ivan Montik told CryptoArticles.
Top Up Your iGaming Account With a Bitcoin ATM
The fruits of labour from the partnership between SoftSwiss and Cubits are also displayed in their latest announcement, which comes in the form a Bitcoin ATM. This Bitcoin ATM lets users to up their iGaming account with fiat currency instantly, and can also serve as a way to cash out your earnings.
Unlike most other Bitcoin ATM devices, the machine presented at ICE Totally Gaming looks more like it belongs in a casino or some other fancy place. Accessing the ATM’s interface can be done with a separate touch screen panel, which seems to be displaying broad letters and is far less subject to reflections compared to other Bitcoin ATM screens.
Not too many details are known about this new breed of Bitcoin ATM’s, but we will be in touch with both Softsiwss and Cubits in order to bring our readers some exclusive information over the next few days.
Source : Various twitter feeds & emails
Websites : http://softswiss.com