CoinsPaid AMA Recap
CoinsPaid is an organisation providing cryptocurrency payment services and personal wallets. CoinsPaid enables customers to operate worldwide, decrease costs and reach new markets whilst using our reliable cryptocurrency processing services and the wallet app
Today we have Dmitry Ivanov as Head of Marketing of CoinsPaid joining us to answer our questions for the next hour.
Dmitry Ivanov, CoinsPaid Head of Marketing
I have been working at CoinsPaid since 2018.
I was involved in business development and marketing from the beginning, and I am entirely focused on marketing only now.
Question from the CryptoRank team
#1. Can you please introduce yourself and your background, also introduce the team working on CoinsPaid?
Dmitry Ivanov: – I became interested in the crypto market in 2017. I enjoy the fact that the service CoinsPaid delivers allows companies and individuals to manage operations with crypto easily and securely. The ongoing growth of CoinsPaid market share and continuously rising demand for our products is the best market estimation towards the value of the products we are creating.
At this moment the CoinsPaid team is presented by 100+ employees located in different countries.
Max Krupyshev is the CEO of the company since 2019, prior to working for CoinsPaid, Max was involved professionally into mining, cryptoprocessing and other related crypto solutions, so he possesses great expertise in crypto and is the flagman for the project.
All our colleagues are presented in Linkedin, so you can find more information on them there.
#2. Can you please introduce CoinsPaid in general to our Community? Which problems is CoinsPaid solving, and what solutions are currently being provided for them?
Dmitry Ivanov: – CoinsPaid is one of the biggest crypto payment ecosystems in the world.
We work with over 700 merchants, and so far in 2021 we’ve processed 2.3 billion euro’s worth of crypto.
Apart from our main business, which is processing cryptocurrency payments, we have business and personal wallets, a SaaS crypto gateway solution, and an OTC desk, and now we’re building a DeFi ecosystem as well. You have to understand that our clients are classic businesses, so we are actually bridging existing business models with crypto.
The key problem we solve for merchants is high payment costs, primarily because of acquiring fees and chargebacks. With the CoinsPaid gateway, clients save 70-90% on payment fees, and there is zero risk of chargebacks and credit card fraud, because these are impossible with crypto. For end users, crypto payments also solve an important problem: often you cannot pay with a card issued in a certain country, or your card is refused by the processing bank. But you can always transfer your favourite crypto, and it will cost the same no matter where you are.
As for our DeFi tools, we’ll be among the first to target businesses (primarily our merchants). For them, DeFi protocols are a very interesting alternative to the investment opportunities in the traditional markets: for instance, a merchant can stake part of their crypto funds and extract additional income of up to 20% API – then withdraw the funds in fiat to a bank account when needed. The same goes for lending: it’s much faster and cheaper to borrow through the CoinsPaid crypto lending feature than through a bank.
#3. Can you please explain your company’s go-to-market strategy and the primary target markets?
Dmitry Ivanov: – In our coin processing business, we’ve had a very successful go-to-market strategy from the beginning: offer safe and cheap crypto payment processing with a 100% acceptance rate in the industries that need it most, like iGaming, and at the same time offer comprehensive support for fiat, such as direct withdrawals to a bank account, so that merchants don’t have to deal with crypto directly unless they want to. So most of our clients don’t have a deep knowledge in crypto, as our solution makes it really easy for them to deal with crypto payments, while even not understanding how it all works. We were also the first to offer recurring crypto payments in crypto. This approach helped us build an ecosystem with over 700 B2B clients.
With the launch of the DeFi ecosystem, the strategy is to bring together CeFi and DeFi in one much larger ecosystem, where payment processing, crypto wallets, DeFI staking, liquidity mining, OTC exchange, media services etc. will all exist together, connected by one token, $CPD.
On the one hand, our merchants have been asking for DeFi tools like staking, and on the other hand, with our huge experience in this market, we can offer safer, better-quality DeFi services to retail users. The key element of the strategy here is that we are building upon the foundation of a big and successful working business.
#4. Who have you partnered with until now, who is backing you?
Dmitry Ivanov: – We are lucky to have a stellar roster of strategic partners. One of the best-known is Master Ventures, a billion-dollar blockchain incubator and venture fund based in Asia that supports Tier-1 projects. Then there’s DAO Maker, a platform that redefines venture funding networks for startups; one of our IDO rounds will take place on their launchpad, DAO Pad.
Then we have Finery Tech, a company that develops financial and trading software, as well as supports innovative fintech startups.
One more venture capital firm we’ve partnered with is AU21, which invests in projects built on Polygon. As I mentioned, Polygon is one of the blockchains that our cross-chain protocol will eventually support.
As for our advisors, we are happy to work with Antanas Guoga, also known as Tony G in Poker world, CEO of Cypherpunk Holdings Inc. and a former member of the European Parliament.
We are announcing few supporters every day now. Don’t want to spoil it 🙂
Questions from Telegram
#1. How will CoinsPaid ensure the security of users’ crypto assets? How do you ensure a secure infrastructure and how is the CoinsPaid infrastructure designed against cyber risks?
Dmitry Ivanov: – We have an internal security team that monitors the system 24/7 and prevent any vulnerability. Also, we have a multilevel storage system where most funds are stored on cold wallets and only a small part on hot ones. Finally, we do external audits from famous cyber security firms every year.
#2. How did you prepare the whitelisting process for users who will participate in the IDO Offer on August 24 and want to purchase CPD tokens?
What privileges will those who buy CPD tokens get?
Will CPD holders be able to stake? How will you set CPD APY rates for users who want to stake and earn passive income?
Dmitry Ivanov: – We have 2 launchpads for our IDO: DaoMaker (Aug 24) and SpacePort (Aug 31).
DaoMaker is responsible for whitelisting for the IDO on their platform, and you can join the whitelist on our landing page or research page on SpacePort if you decide to participate on the SpacePort
All public participants will be able to buy CPD at $0,02 when our listing price on DEXs is $0,03… it means 50% cheaper.
#3. As “SOFTSWISS” is Top gaming sofware, & this is Coinspaid’s Partner, How will it help Coinspaid platform?
Dmitry Ivanov: – Being a partner, SoftSwiss provides us an infrastructure for our token to be integrated into games and other stuff related to iGaming.
Just imagine: 300 crypto gaming brands and 150 games…
