CoinsPaid: CoinsPaid is a group of brands, where CryptoProcessing is our payment processing flagship, currently the biggest crypto solution provider for the iGaming industry. CryptoProcessing by CoinsPaid is a leader in crypto payment services for the iGaming industry. With 7 + years in the crypto space they now process 7 % of all the bitcoin transactions in the world and have processed more than 5.5 billion euro in crypto only for 2021.
Crypto Snack: Crypto SNACK is a DeFi token specialized in the iGaming industry. Officially launching on the Binance Smart Chain in January 2022 makes it perfect for players to enjoy the fastest and cheapest transactions in the industry. On top of that 10 % of all tokens are locked in Green Treasury projects giving both players and operators a chance to contribute to a greener future!
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I would start with the same question for both of you, what does this collaboration/listing mean for you both?
Stuart: The listing is really the beginning of our project, we want to give Snack full utility in the whole crypto space. From here, we will bring in more operators who will use our Snack Token in their gaming platforms thanks to CoinsPaid. Our main focus is to help and partner with as many operators as we can to allow them to use and understand the value of cryptocurrency. Listing with CryptoProcessing by CoinsPaid gives us the best possible start as it’s the best crypto payment gateway in the iGaming Industry.
Max: Adding support for a brand-new token is a new experience for us – CoinsPaid mostly supports large-caps like BTC, USDT, DOGE, etc., making 30+ cryptos in all. But, we made an exception for SNACK, because we serve over 300 iGaming sites, and for them, having a crypto token dedicated to iGaming will be a big boost. Deposit and withdrawal speed is key to user retention in this business, and SNACK is faster and cheaper than almost any large-cap. Plus, it can create a greater feeling of belonging among the players – a feeling that they now have their own crypto that’s just for them. I’m sure SNACK will become one of our most successful payment options by volume in the near future.
Max, how is the process both from a player and operator point of view?
Operators that use CoinsPaid can offer their customers several ways to pay, which we call Channels, Invoices and Plug-and-Pay. So, for example, they can generate a payment link for a specific amount in fiat, like $50, but in crypto equivalent, and that link is valid for 15 minutes, after which point the amount of crypto has to be recalculated. Or, you can allow users to deposit as much as they want in crypto when they want, so the link doesn’t expire. Finally, Plug-and-Pay is an industry-first recurring payment solution, allowing users to top up their iGaming balance with crypto automatically. I should also say that though we support 30+ digital assets, an operator also has the option of choosing just some of them, like BTC, SNACK and DOGE, for example.
From the player’s point of view, the payment process is very smooth and flexible. You get a deposit address that you can copy and paste into a wallet; and a payment link that you click, and your wallet opens automatically, with all the payment data already pre-filled. Then, all you need to do is confirm. You can also receive a QR code to scan with a phone and open a mobile wallet that’s all set for payment. We’ve made crypto deposits as intuitive as possible.
Stuart, Max. Where are your present strong now and what GEOs are your focus for the future?
Stuart: We are really looking at developing markets like the CIS countries, Africa and Latin America. In addition, we have strong connections in those regions. These strategic partnerships give us the perfect gateway to develop the Crypto Snack brand for a new audience of crypto holders and iGaming players.
Max: CoinsPaid is registered and regulated in the EU, and we’re very strong there, as well as in CIS countries. Recently we’ve become partners with SWIFT, so now we can enable operators to receive payments outside of the SEPA area, across most of the globe. That being said, our main target for expansion in 2022 is Latin America. We’ve already registered a company in El Salvador – which, as you know, is a very crypto-friendly jurisdiction – and we’ll use it as a base for regional growth.
What’s the difference between casino gaming and crypto gaming and how does the future look?
Stuart: Crypto gaming and casino gaming are basically the same. The only difference is the currency. Instead of fiat (euro, dollar, etc.) players deposit and play both in the casino and have the possibility to bet on sports events with crypto. Players can deposit and withdraw their SNACK tokens with minimum transaction fees and instant handling time because of the BEP20 network. For the future we see all the major gaming operators offer SNACKs and other cryptos in all parts of the world.
Max: As Stuart said, the games and the gaming process are the same for fiat-based and crypto-based online casinos. One difference I would point out is that crypto casinos usually use the provably fair algorithm: users can verify that the outcome of any game was indeed random and fair. Crypto iGaming sites set new standards of transparency for the industry, in line with the transparency of the blockchain itself.
I expect that more and more iGaming companies will enable crypto – perhaps we’ll see several hundred more in 2022. This business opportunity is still largely untapped.
Max. What are the main benefits for players and operators to use CryptoProcessing by CoinsPaid?
Max: We are the no.1 crypto payment provider for iGaming, and we have enormous expertise in this market. Our merchants can rely on that expertise; we can always advise how to better introduce crypto, optimize the payment flow, etc. Security is another benefit – we’re the only provider to have passed two security audits, both by Kaspersky Labs and 10Guards.
Fiat settlements are also important: the operator can withdraw revenue directly to a bank account in six different fiat currencies. Also, don’t forget our 100% transparent fees – a rarity in crypto processing – and the new CPD ecosystem token. Operators can stake CPD and pay fees in CPD to earn discounts of up to 50% on our fees.
Stuart: What’s the main benefits for players and operators to use and offer SNACKs?
Stuart: As mentioned before, we are the first BEP20 iGaming token listed on CoinsPaid, which makes us the fastest and cheapest token to use for the players. We will also offer operators bonus rewards to offer both new and existing players to either play or hold.
Max, are we going to see CoinsPaid into the highly anticipated Web 3.0 markets, more specifically, the metaverse, NFTs, VR (Virtual Reality) and AR (Augmented Reality)?
Max: We are actively looking into the opportunities in Web 3.0, though I’d say we should be careful distinguishing between the real trend and the hype here. Crypto adoption and paying in crypto for everything is part of the Web 3.0 revolution, and merchants will have to accept this – meaning that they will need crypto processing.
As for the metaverse, shopping for real digital and even physical products in the virtual environment can become huge. Companies like Gucci and Nike are buying land in the metaverse to open stores, and many others will follow. Such virtual stores will accept crypto – and it’s a huge opportunity for CoinsPaid. We’re not rushing in, but we are ready.
So, Stuart, what are the new avenues for Crypto SNACK to look at after it has partnered with CoinsPaid? To put this more simply, what are the future Projects that Crypto SNACK intends to work upon?
Stuart: Crypto Snack, although not a technology company, strives to innovate the iGaming experience either through NFTs or even looking at applications in the metaverse. A big commitment we have at Crypto Snack is to achieve mass adoption of cryptocurrencies. To achieve this Crypto Snack is using its website and social media channels to promote and educate new users on how easy it is to enter and enjoy the crypto world. Project wise we are looking to launch our own range of NFTs that will be available on our website. But again, our main focus is the iGaming industry and we are looking to partner with as many operators as possible to grow the Snack brand.
Both of you, what does this partnership bring to the community? How would the iGaming community benefit from the partnership?
Stuart: “We have a very diverse and aspirational community and we are connected through social media which allows Crypto Snack to follow new trends and meet the needs emerging from the very innovative crypto market.
It should be noted that, although the majority of the target audience is young, the crypto market is reaching more people from different environments. With access to all the information and more technology, it is being naturalized to something that years ago seemed to be only for a few, and that is what we like, to be able to reach everyone in a simple, clear, fun and educational way.”
Max: On a more practical level, I think it’s awesome to be able to top up your iGaming account in a BEP20 token. We do offer instant BTC and ETH transactions, but the blockchain fees are still a problem. $2-4 per transaction is a lot for many iGamers with small deposits. On BSC, it’s 10 times less, meaning SNACK can bring in a lot of new users, maybe even motivate them to try crypto for the first time. Don’t forget SNACK token rewards, too.
There have been a lot of cyberattacks in the crypto world, this year alone. CoinsPaid could also be a potential target for that. So, Max, how ready is CoinsPaid to tackle that?
Max: We tackle attack attempts every single day – and none has ever succeeded. Our in-house security team is working hard 24/7 to identify risks and suspicious transactions. When you handle billions of dollars in payment volume a year, it’s normal.
But don’t forget that we are the only crypto payment provider that successfully passed two security audits, including one by Kaspersky Labs, a world-famous firm. They didn’t find any vulnerabilities in our code. This makes CoinsPaid very different from most blockchain projects, which are launched without proper audit or stress-testing.
Stuart, would you please take some time to explain to us about Green Snack.
Stuart: Crypto Snack is a green token! This is why we developed the brand ‘Green Snack’ to focus on environmental issues. Snack cares for the environment and wants to help fight climate change. We have identified carbon offsetting as an area we can really make a difference. We are setting up a green treasury with tokens locked for green projects. Green Snack will look to work on 3 components for CO2 tracker: carbon tax, implied floor price per ton, and limits on emissions. All carbon offsets will be registered on the blockchain. The Green Snack Treasury will officially launch in Q1 of 2022.
CoinsPaid has been in the game for 7 years now, you must have experienced first hand the growth of the crypto payment world. What growth can we expect in the next 7 years in the crypto payment world and when do you think crypto currencies will be the dominant payment method?
Max: I think 7 years is too long of a horizon to make predictions in crypto. But I think crypto will become as popular a payment option as e-wallets are now. In China, India, Latin America and Subsaharan Africa people use digital wallets for daily payments. We all know apps like WePay, PayTM, and AliPay, but each country has their own. I expect crypto to flip those apps, though it won’t flip credit cards worldwide – and it doesn’t have to.
I also think that crypto payments with near-zero fees will become the norm. It has to happen for crypto to compete with payment apps, which charge tiny commissions.
12. Conclusion
So, Max and Stuart, thanks for your time and effort. Any final notes for the readers that you would like them to know and what more are we gonna see about this partnership in future?
Stuart: I would like to thank you and Max for getting together to do this interview and I look forward to continuing our relationship in the future. For the readers, Crypto Snack will be the number 1 token in the iGaming industry so make sure you follow our progress on social media and don’t miss out on the chance to own the newest and most exciting token to launch in 2022.
Max: I’d also like to thank the Coin Republic team and Stuart for this interview. If you pay with crypto online, if you use iGaming sites and you see SNACK as a supported token – definitely give it a try. As for CoinsPaid, 2022 will be a big year for us, with new DeFi tools and new benefits for CPD token holders, expansion into Latin America, and a re-haul of our crypto wallets – for example, you’ll be able to buy crypto (including SNACK) with a bank card with the CoinsPaid wallet. Follow the CoinsPaid updates!
For More information check out the links below:
Coinspaid:
https://coinspaid.com/
https://www.instagram.com/coinspaid/?hl=en
Crypto SNACK:
https://www.instagram.com/cryptosnackproject/?hl=en
https://www.cryptosnacks.org/crypto-casino/
https://www.cryptosnacks.org/pre-sale/
Source: https://www.thecoinrepublic.com/2022/02/11/big-news-coming-from-the-crypto-world/