Last updated: 03 March 2022
Cryptocurrencies have taken the online gambling industry by storm, with many traditional online casinos adding more payment options suitable for crypto enthusiasts to their banking department. While most crypto-friendly casinos support Bitcoin and other popular virtual currencies, there are also gambling sites where players can use innovative solutions to make payments in various cryptocurrencies and convert them into fiat currencies.
One of these solutions is CoinsPaid, a Bitcoin payment processing gateway and business crypto wallet, as stated on the official website. So, what on earth is it and how can I use it to play my favorite casino games, you may ask yourself. Well, we have spent some time testing CoinsPaid products and are ready to share what we have found about them so far. Stay with us as we bring you a detailed review of this relatively new payment method, along with a list of CoinsPaid casinos.
Founded in 2014, CoinsPaid is a “crypto-financial ecosystem” operating under Dream Finance OU, a company registered in Tallin, Estonia. The services it provides include a crypto wallet, payment processing gateway, an exchange with an over-the-counter (OTC) desk and a hot wallet system for businesses. Thus, CoinsPaid allows its customers to make and accept payments in cryptocurrencies and store and exchange Bitcoin and other virtual currencies.
According to CoinsPaid’s Linkedin page, its goal is to provide cryptocurrency payment solutions that are smooth and in synergy with the traditional economy. To satisfy the needs of the online gambling industry and crypto gambling, in particular, CoinsPaid has partnered with SoftSwiss, one of the leading iGaming solutions providers in Europe, to develop a crypto payment gateway processing system.
The team behind CoinsPaid helped SoftSwiss implement the Bitcoin processing module back in 2013, which resulted in the launch of the first crypto-friendly online casino ever. With CoinsPaid, online casino operators have full control over crypto wallets, which makes this solution trustworthy.
In August 2019, CoinsPaid announced the launch of a personal crypto wallet. It was envisioned to enable users to make transactions among themselves with no fees. The product is marketed as a multi-currency online crypto wallet for everyone. Those who install it can instantly send payments to multiple crypto wallets, make crypto payments and send, receive or exchange more than 50 cryptocurrencies via the built-in exchange. The PSP is also developing a CoinsPaid card that should allow users to pay online and offline using funds on their crypto wallet.
In 2021, CoinsPaid processed transactions worth €5.5 billion, with more than 1 million transactions processed per month. The total number of transactions in 2021 increased by 170% compared to 2020. In addition, the CoinsPaid team grew by 140% to 125 employees.
- September 2021: CoinsPaid launches the CPD token to bridge the e-commerce market with DeFi (decentralized finance) tools.
- July 2021: CoinsPaid sponsors the SBC CasinoBeats Summit in Malta and Gaming & Affiliate Marketing Expo 2021 held in Athens, Greece.
- July 2021: The CoinsPaid portfolio of paying B2B clients increases to 700+.
- June 2021: The platform processes over 700,000 Bitcoin transactions worth $400 million.
- June 2021: CoinsPaid processes around 5% of global on-chain Bitcoin transactions.
- May 2021: At the AIBC Summit held in Dubai, CoinsPaid receives the Payment Provider of the Year Award.
On the official website, CoinsPaid says that its mission is to “bring joy and simplicity in the world of crypto payments”. And as we know, for crypto payments, there are no boundaries. Since its launch, CoinsPaid has established itself in Europe, becoming an EU-licensed crypto processing provider. Today, it is globally recognized and handles 7% of all Bitcoin transactions that occur on the blockchain. In 2021 alone, CoinsPaid more than 800 merchants worldwide.
In late 2021, CoinsPaid announced its expansion to Latin America. In its press release, the payment service provider said that LATAM was a region where less than half of the population used bank cards. CoinsPaid expects that its products will provide relief for both businesses and consumers. Besides LATAM, the PSP works on the research of the MENA region. Therefore, we can expect its expansion to the Middle East and North Africa market in the following years.
At this moment, CoinsPaid supports 30+ cryptocurrencies, such as BTC, ETH, USDT, LTC, ADA, BCH and DOGE. Besides, it supports more than 20 fiat currencies.
Set up a personal CoinsPaid account
Visit the CoinsPaid website and start the registration procedure by clicking on the Sign Up button. You will be welcomed to the CoinsPaid ecosystem, where you need to opt for a personal account. Download the wallet app from the App Store or Google Play. Create a personal account you will use to manage your CoinsPaid personal wallet.
Complete the security check
Check the I am human box and pick the required options to complete the security check.
Provide your details
Complete 2-step verification
Once you have confirmed your identity, you will have to complete 2-step authentication using the Google Authenticator and scanning the QR code.
Add personal details
Enter your details and verify your identity by providing proof like your ID card and your photo. Also, you have to verify your address with a utility bill or similar document not older than three months.
Top up your account
Add money to your wallet or buy and sell cryptocurrencies to start playing at casinos accepting CoinsPaid deposits.
You must be impatient to find out how to make a casino deposit CoinsPaid, so stay with us as we will let you know immediately.
- Choose one of the casinos that accept CoinsPaid, create an account with it and log into it.
- Go to the Banking section and choose CoinsPaid or cryptocurrency of choice supported by CoinsPaid (Bitcoin by CoinsPaid, for instance) as the preferred payment option.
- Copy the crypto address or scan the QR code and enter the amount you want to deposit.
- Confirm the transaction to complete the payment and start playing your favorite casino games.
When it comes to withdrawals, the procedure is almost the same. Just pick CoinsPaid as the preferred payout method and complete your transaction following the instructions.
First and foremost, best CoinsPaid casinos won’t charge fees on deposits or withdrawals made via this payment method. Furthermore, transactions CoinsPaid users make among themselves are non-existent. Therefore, if you have a CoinsPaid account and the casino offers this crypto gateway, you won’t be charged a fee on your payments or cashouts.
On the other hand, CoinsPaid does not charge consumers any transaction or monthly fees. On the other hand, businesses pay flat processing fees of less than 1% on transactions. What you should bear in mind is that processing crypto payments still can incur certain fees, like Bitcoin transaction fees charged by the network.
CoinsPaid payments are processed instantly. The same goes for withdrawals unless the online casino you have signed up with imposes a pending period. Typically, it is between 24 and 48 hours when it applies. Another scenario where you can wait for your funds longer is when your casino account is not verified. So, you will have to be ready to wait for your winnings until the casino verifies your casino account.
Deposit and withdrawal limits vary from one CoinsPaid online casino to another. For instance, at King Billy Casino, the minimum amount you can deposit via CoinsPaid is 0.0001 BTC, 0.001 BCH, 0.01 ETH, 0.01 LTC, USDT 0.0001 and 1 DOGE. The maximum deposit amount is not limited. At PlayAmo, deposits start at 0.0002 BTC, 0.01 ETH, 0.01 BCH, 1,500 DOGE and 0.1 LTC.
As for withdrawals, CoinsPaid users at King Billy Casino can cash out from 0.0006 BTC to 2 BTC, from 0.05 BCH to 2 BCH and from 0.02 ETH to 2 ETH. Litecoin users can cash out from 0.2 to 2 LTC, Tether withdrawal limits range from 0.001 to 400 USDT, while the minimum and maximum withdrawal in Dogecoin is 86 and 100,000 DOGE. At PlayAmo, CoinsPaid users can withdraw between 0.0002 and 2 BTC, 0.01 and 5 ETH, 0.01 and 5 BCH, 1,500 and 700,000 DOGE and 0.1 and 30 LTC per transaction.
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CoinsPaid works in two ways, as a payment gateway and as a crypto wallet. As a payment gateway, it links an online casino to the player and allows the player to make deposits securely. At the same time, the crypto wallet they use is secured by 2-factor authentication. It uses QR codes players can use to complete transactions without sharing their personal or financial details with the operator.
In a post on the Medium platform published in March 2020, CoinsPaid said that their security system was ahead of the industry. Its crypto gateway and wallet passed an advanced audit by Kaspersky Labs, which is considered the highest industry recognition. The Kaspersky Labs audit team did not detect any vulnerability in CoinsPaid’s system, which is proof that it is one of the safest crypto platforms.
CoinsPaid offers 24/7 customer support to its users. While its comprehensive FAQ section is oriented towards business clients, CoinsPaid wallet users can get a free consultation via live chat on the official website or send a query using the contact form. However, the live chat feature is not available 24/7. You can reach CoinsPaid representatives via live chat from 7 AM, or use send your email to [email protected] anytime, day or night.
CoinsPaid was originally created as a crypto payment gateway for the online gambling industry. Over the years, it has evolved into a financial ecosystem that offers solutions for businesses and personal use. While its wallet is still a new product, it has established itself in the market because it makes crypto payments simple and provides users with various options, including a possibility to buy and sell crypto with debit cards.
We could not find reviews of the wallet or user experiences on the internet. However, the volume of transactions and constant development of new products tell a lot about the quality of the services CoinsPaid provides.
When it comes to online gambling, the main products within the CoinsPaid ecosystems are the crypto payment gateway online casinos can implement and personal wallets players can use to manage transactions and store cryptocurrencies. Besides these products, CoinsPaid also offers CPD, the utility token of its crypto payment ecosystem. Those who want to own CPD can buy or farm it.
By launching a native coin, CoinsPaid enables consumers and businesses to pay for services with it while benefiting from extra bonuses and discounts. Some of the advantages of using CPD include the discount on operational fees of up to 50%, DeFi staking rewards, discount on marketing services and more.
CoinsPaid is compatible with smartphones and tablets. You can install the wallet on your iOS or Android device and buy, sell or exchange crypto wherever you are. If you want to make payments to CoinsPaid online casinos while on the move, you can do it seamlessly by scanning a QR code.
- CoinsPaid community members are called CoinsPaiders.
- CoinsPaid Academy is a platform where visitors can learn all things crypto in English, Russian and Spanish.
- CoinsPaid has been audited and verified as secure by 10Guards, the first-class ethical hacking team.
- CoinsPaid launches monthly $CBD challenges where participants can make Medium/TikTok reviews of its products for a chance to win rewards in $USDT worth up to $1,000.
- On its Twitter and LinkedIn accounts, CoinsPaid publishes news and analyses on Bitcoin and other cryptocurrencies.
- CoinsPaid’s WhiteLabel solution enables merchants to start their crypto payment business by launching a branded crypto payment gateway within a month.
CoinsPaid is a crypto payment gateway and crypto wallet created to fit the needs of the online gambling industry.
To make online casino deposits and withdrawals, you should create a CoinsPaid wallet account and top it up with the currency of choice.
CoinsPaid supports 30+ cryptocurrencies and 20+ fiat currencies.
Transactions between CoinsPaid users are fee-free, so you won’t be charged extra fees on transactions made at online casinos that offer this banking method.
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Content editor with journalistic background and 6+ years of experience in the online gambling industry. Marija's motto is "Keep it short and simple", so she shows no mercy while cutting the fluff. Double-checking and digging deeper to unearth the needed information are her favourite activities. Passionate about grammar and delivering engaging content to help our readers make informed decisions.