Case Studies, Crypto Payments
Case Study: Eldorado.gg Levels Up with Crypto Payments
Last updated: October 10, 2023 6 min read
When we’re talking about the massive world of online gaming, Eldorado.gg stands as a beacon for gamers looking to buy and sell in-game digital assets hassle-free.
Founded in 2018, the platform has quickly established itself as the go-to marketplace for gaming enthusiasts around the world. “We provide a platform for everyone to seamlessly make trades,” says Rimvydas Vaičiūnas, Marketing Manager at Eldorado.gg. Think of it as eBay, but specifically tailored for the gaming community.
Players invest hundreds of hours into accumulating rare items and reaching high levels in their favorite games. Eldorado.gg understands this dedication and offers a secure trade protection system that guarantees safe and easy transactions for both buyers and sellers.
Whether you’re looking to save time by purchasing in-game gold or planning to turn your high-level account into real money, Eldorado.gg has got you covered.
Headquartered in Vilnius, Lithuania, the company maintains a lively work environment filled with memes and video games, far removed from corporate politics and mundane meetings. Their goal? To become the number one in-game item marketplace, and they are rapidly expanding their team to make that vision a reality.
But what gives Eldorado.gg its competitive edge in payment options? That’s where we step in as their trusted partner for all their crypto payment processing needs.
Why Crypto and Why CoinGate?
“We know that some avid gamers are keen on cryptocurrencies,” explains Martynas Iščiukas, Head of Finance at Eldorado.gg. The decision to offer crypto payments was all about staying close to their customers.
CoinGate was the perfect fit for Eldorado.gg, providing both a local presence and a convenient way to accept crypto and get paid in fiat. “CoinGate allowed us to mitigate FX rate fluctuations of cryptocurrencies,” Martynas notes.
The way CoinGate payments work is the system locks in the crypto price at the moment of purchase. This ensures that the value of the cryptocurrency is converted to fiat currency at that locked-in rate if the merchant chooses so. This feature effectively eliminates the risk associated with the often volatile cryptocurrency market.
“Instead of having to collect crypto ourselves and be exposed to FX risks, CoinGate saves time for us, which we could use to focus on growth. Additionally, we do not have to hold cryptocurrencies and get paid in fiat money instead,” adds Martynas.
For context, CoinGate offers real-time settlements to popular fiat currencies like EUR, USD, and GBP, with payouts going directly to the merchant’s bank account. This is a feature many businesses find invaluable, and it certainly sweetened the deal for Eldorado.gg.
Feel like it’s time to accept crypto payments? Sign up for a CoinGate business account.
A Smooth Integration Experience
When it comes to implementing new technology, ease of integration is often a make-or-break factor for businesses.
Luckily for Eldorado.gg, setting up CoinGate’s crypto payment processing was far from a daunting task. “The CoinGate integration process wasn’t hard at all,” shares Artūras Dulka, Software Developer at Eldorado.gg.
Here’s the intriguing part: the individual responsible for the integration was a new colleague, who, at that time, had little to no experience working on payment integrations and was still getting familiar with the Eldorado platform.
Despite these factors that might have slowed down or complicated the process in a less user-friendly environment, the integration went off without a hitch.
To quote the new team member’s feedback, “10/10 experience would do it again.” Within just a week, the crypto payment option was up and running, ready to accept transactions from eager gamers.
This success story not only underscores the intuitive design of the CoinGate system but also serves as a testimonial to its seamless adaptability to diverse business operations.
The ease of integration allowed Eldorado.gg to quickly offer new payment options to their customers, thereby enriching the user experience without any hiccups or delays. It’s a win-win for everyone involved, from the tech team at Eldorado.gg to the end-users ready to make their next purchase.
The Impact of Crypto Payments on Eldorado.gg
Crypto payments contribute to 3% of Eldorado.gg’s total sales. While the number may seem modest, the strategic benefits are substantial. “We have managed to capture additional revenue,” says Martynas . “We feel like there is a growing demand in this segment, and we’re happy to be one of the leading marketplaces.”
However, for Eldorado.gg, partnering with CoinGate isn’t just about offering another payment option; it’s about simplifying business operations that allows focusing on growth, as Martynas pointed out before, while our team at CoinGate takes care of the crypto aspects, letting Eldorado.gg focus on enriching the gaming experience for their users.
Martynas also acknowledges that the crypto world is still evolving but is optimistic about its growth in the gaming sector. “We are happy to be one of the leading marketplaces in the industry, allowing our customers to pursue their gaming dreams while paying in digital currencies,” he remarks.
Crypto Payments by the Numbers
Curious about which cryptocurrencies are making waves at Eldorado.gg? BTC leads the pack, accounting for 33.01% of all crypto orders. Following closely are BUSD at 18.99%, LTC at 16.5%, and ETH at 15.29%, while other cryptos account for the remaining orders.
What’s even more intriguing is the growing popularity of our recently introduced Binance Pay payment option. This feature, which is now part of the CoinGate payment gateway, allows users to pay directly from their Binance account balance. A solid 8.6% of all crypto payments at Eldorado.gg come through this convenient option.
More Success Stories: The Versatility of Crypto Payments
Eldorado.gg isn’t alone in recognizing the benefits of accepting crypto payments. Our team at CoinGate has had the pleasure of collaborating with a variety of companies that have found immense value in integrating cryptocurrency into their payment options.
In another intriguing case study, we explore how different businesses like Surfshark, NordVPN, Cherry Servers, and Hostinger have leveraged crypto payments to their advantage. From enhancing customer privacy to cutting down transaction fees, the use cases are as varied as the businesses themselves.
Interested in learning more? Dive into our multi-company case study to discover the many ways crypto can benefit businesses across industries.
Ready to Level Up Your Business Too?
Eldorado.gg’s journey with CoinGate showcases the tangible benefits of embracing crypto payments in today’s digital age. The numbers speak for themselves, contributing to 3% of the total sales, capturing additional revenue with little to no downside.
Crypto payments not only diversify your revenue stream but also build stronger customer relationships. Add to that the ease of integration and time saved on transaction processing, and you’ve got very compelling reasons to consider it for your business as well.
So, what’s stopping you from taking your payment options to the next level? Sign up for CoinGate’s crypto payment processing services today and be at the forefront of the financial revolution!