GoCoin to Announce Next Round of Supported Coins, Lists Selection Criteria

Steve Beauregard, co-founder and CEO of GoCoin, discussed his company’s future altcoin plans at the ICE Totally Gaming Conference in

Steve Beauregard, co-founder and CEO of GoCoin, discussed his company’s future altcoin plans at the ICE Totally Gaming Conference in London last week.

The trade event covers a diverse range of areas in the gaming industry. It plays host to exhibitors showcasing their latest products and serves as a discussion venue for players, operators and regulators.

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In October, Cozy Games reportedly became the first regulated iGaming firm to accept bitcoin, following a partnership with GoCoin.

GoCoin, launched just over one year ago, differentiates itself from larger crypto payment processors like Coinbase and BitPay by offering altcoin support. It has exceeded growth projections during its first year, signing up 5,500 merchants and facilitating over 125,000 transactions.

During his talk, Beauregard said that his company will be announcing its next round of supported coins later this quarter.

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In addition, the company is offering visibility into its decision process for selecting supported altcoins, which to date include Litecoin and Dogecoin. Said Beauregard:

“Until now, GoCoin has been proprietary with our internal criteria for adding coins. We just crossed our first year of operations, and are ready to give the altcoin community some helpful insight about the factors that guide our decision-making.”

He went on to outline the five selection criteria for altcoin support:

1. Market cap ranked in top ten among cryptocurrencies
2. Traded on at least two reputable exchanges
3. Has been in existence long enough to establish its value relative to other coins
4. Active community and developer support
5. Network stability and sufficient hashrate distribution (resistance to a 51% attack)

In December, GoCoin said it plans on supporting GAW Miner’s Paycoin which was ostensibly launched to improve upon Bitcoin. The coin has thus far failed to live up to its promised $20 price floor or widespread merchant adoption.

Beauregard told DC Magnates that any coin it supports would have to meet GoCoin’s liquidity, technical and community support requirements, and Paycoin is no exception.

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