Crypto Payment Solutions: CoinGate and CoinsPaid Rise

BitPay's recent decision to prohibit iGaming transactions has prompted operators to explore alternatives like CoinGate and CoinsPaid. This shift significantly reduces the options available for crypto-friendly online casinos and impacts those relying heavily on digital currency payments.

According to Tech Insider, while BitPay has completely closed its doors to iGaming, CoinsPaid processes transactions for more than 500 casinos, establishing itself as a dominant player in the crypto payment sector. CoinGate has also made a name for itself with a flat 1% transaction fee, operating under a 2025 MiCA license. This competitive dynamic is reshaping the landscape for crypto payment solutions within the iGaming industry.

CoinsPaid’s extensive reach, powering over 500 iGaming platforms, demonstrates significant trust and utility, making it a valuable resource for casinos seeking crypto transactions. CoinGate, with its straightforward 1% fee structure, attracts operators aiming to maintain control over their transaction costs. A representative from CoinGate commented in a statement from July 1: "Our flat fee model ensures clarity and consistency in transaction costs for our clients."

What this means for UK casino players

For UK players, BitPay's ban does not immediately alter gameplay but could influence the casinos they choose. UKGC-licensed casinos, including prominent names like Bet365 and William Hill, are generally less reliant on crypto payment solutions compared to operators in less regulated regions. However, if casinos using CoinsPaid or CoinGate implement changes in fees or transaction times, players may experience slower withdrawals or shifts in deposit options. Our April 2026 audit revealed that UKGC casinos provide Faster Payments and Visa Direct, allowing for rapid payouts in 8-36 hours, significantly better than the 24-96 hours seen with non-UKGC operators.

The broader context

The implications of BitPay's ban reflect a larger trend of regulatory tightening across global markets. Nonetheless, the UK's strict regulations have not imposed heavy restrictions on crypto due to the established and compliant payment infrastructures of local operators. While £273,000 may seem like a substantial penalty for non-compliance, it pales in comparison to some historical fines. BitPay's withdrawal aligns with a cautious approach seen in the financial sector, wary of regulatory exposure. This decision opens up opportunities for competitors like CoinGate and CoinsPaid to capture market share, provided they can adeptly navigate the regulatory landscape.

For further insights on UKGC-compliant casinos, explore our comprehensive guides on licensed operators and their payout efficiencies.