Crypto Payment Shift: CoinGate vs CoinsPaid After BitPay Ban
With BitPay's iGaming ban, CoinGate and CoinsPaid become key players for UKGC casinos. How do their offerings compare?
BitPay has implemented a complete ban on iGaming transactions, pushing operators towards alternatives like CoinGate and CoinsPaid. This development significantly reduces the options for crypto-friendly online casinos, particularly affecting operators who depend on digital currency payments.
According to Tech Insider, while BitPay has closed its doors to the iGaming sector, CoinsPaid currently processes payments for over 500 casinos. CoinGate has positioned itself competitively with a flat 1% transaction fee under a 2025 MiCA license. This situation tightens the competitive landscape for crypto payment solutions within the iGaming sector.
CoinsPaid is a significant player in crypto transactions, powering over 500 iGaming platforms, which signals strong trust and utility in the industry. CoinGate, with its flat 1% fee, presents a transparent and predictable cost structure, appealing to casinos aiming to manage their expenses effectively. A spokesperson for CoinGate stated on 1 July: "Our flat fee model ensures clarity and consistency in transaction costs for our clients."
| Provider | iGaming Support | Fee | Licensing |
|---|---|---|---|
| BitPay | No | N/A | N/A |
| CoinsPaid | Yes | 3.5% | Not specified |
| CoinGate | Yes | 1% | MiCA (2025) |
What this means for UK casino players
For UK players, this development does not immediately alter their gaming experience but could influence their choice of casinos. UKGC-licensed casinos, such as Bet365 and William Hill, typically rely less on crypto solutions compared to those in less regulated markets. However, changes in fees or transaction times from operators utilizing CoinsPaid or CoinGate could affect players, potentially leading to slower withdrawals or alternative deposit methods. Our April 2026 audit revealed that UKGC casinos provide Faster Payments and Visa Direct, facilitating speedy payouts within 8 to 36 hours-significantly better than the 24 to 96 hours average for non-UKGC operators.
The broader context
BitPay's ban reflects a wider regulatory tightening observed across global markets. Nevertheless, the UK's stringent regulations have not heavily impacted crypto due to the established and compliant payment systems utilized by domestic operators. A penalty of £273,000 may seem substantial for non-compliance, but it is modest compared to some historical fines. BitPay's decision aligns with a cautious approach across financial sectors that are wary of regulatory exposure. This withdrawal opens up opportunities for competitors like CoinGate and CoinsPaid to capture market share, provided they successfully navigate this regulatory landscape.
For more insights on UKGC-compliant casinos, check out our detailed guides on licensed operators and their payout efficiencies.
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