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 Max Krupyshev as Co-Founder and CEO of CoinsPaid joining us to answer our questions for the next hour.
Max Krupyshev, CoinsPaid Co-Founder and CEO
In my professional career, I have been fortunate enough to work on some of the most significant BTC mining projects, including Cex.io and Ghash.io. In addition, I was a reasonably active blockchain pioneer and founded organizations such as the Bitcoin Foundation Ukraine and Satoshi Square Kiev. Since 2019, I have been the CEO of CoinsPaid and am completely immersed in the specifics of crypto processing. At the same time, I continue to observe the market in general and its trends in particular.
Question from the CryptoRank team
#1. Can you tell us about CoinsPaid? What problems do you solve, both in the space and for the community?
Max: – Our mission is to create a convenient, secure service that allows you to work with crypto and fiat funds and at the same time receive income, allowing you to save on the cost of bank fees that are not in our system.
When developing a product, we try to create the maximum value of these elements: customer comfort, safety, profitability.
1. We create client comfort by thinking over all the details of the service at the development level and providing the client with ready-made solutions, such as an instant transfer from crypto to fiat currency. The most convenient payment options are already embedded in our service.
2. Our second pillar is safety. To ensure it, we use a system of cold and hot wallets, a 2-factor authentication system, securing all this with the certificates Kaspersky Lab and 10 Guards.
3. The third one is Profitability and Benefit. The transition to crypto processing allows you to reduce your expenses (personal or business). Here we mean saving on high bank fees for transfers and payments.
Today CoinsPaid is one of the world’s largest crypto payment ecosystems, and we have been operating on the market since 2014.
By now, It has established itself as one of the most reliable platforms with crypto processing, OTC, Enterprise and Personal Wallets and more.
We are mostly known for our B2B solutions on the market, however we do have Personal Wallet, and by launching CPD and DeFi services we will have more B2C products for the crypto community in our range.
#2. Could you shortly describe the milestones CoinsPaid has achieved, and tell us about your upcoming plans?
Max: – The numbers that we are proud of today are more than 6.7 million transactions carried out in the last two years of the company’s operation (2019 – 2021).
The total value of all transactions in 2020 of 1.25 million EURO.
Currently estimated market share at 5% of all Bitcoin transactions on the network (yes bitcoin is still big as a payment method). We are award-winning Payment Provider 2021 by AIBC, and short-listed for nomination “Innovation in payment solution” by the EGR B2B Awards.
As for the plans this year, our B2C goal is to attract about 300-400K users to the wallet through marketing and collaborations with our partners. In the long term, of course, we set an optimistic goal – to convert at least half of the end-user base of our merchants, which is 2.5M.
For B2B, a crypto payment gateway, the goal is to grow 8 times in revenue by the end of 2021, and we are confidently already ahead of the established growth rates. After 3-5 years, we see ourselves as one of the leading crypto banks in the world.
Questions from Twitter
#1. Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same.
and In your opinion, which is more important for the #COINSPAID and why ? Community, Investors, Market or Exchange
Max: – Nice question.
we are 120ppl company with millions of EUR revenues. We dont need IDO if we were to run away 🙂
With IDO we get more visibility on teh market.
Second part is not very clear. Which is more important for us?
As a B2B brand we didnt pay much attention to community and willing to change it. Investors will invest into CPD which is the fuel of an already working business, “trust” in crypto market – this is what important.
#2. Coinspaid is global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
Max: – Employees located in 15 countries.
We have clients from around 40 countries. Majority are Europe based, we have some big clients from Asia and LatAm. We are interested in Latam a lot right now.
Speaking about industries – ecommerce is the focus.
#3. “SAFETY” is a concept that worries every user. So, have you done a security audit for CoinsPaid’s Wallets, can you say your wallet is completely safe?
Max: – “You can never invest too much in security.”
We have 3 security audits. Kaspersky, 10guards and freelance hacker and we do an audit every 3 months.
We have security team inhouse (prev experience of our head of security was nuclear plant IT security).
We treat security on teh highest level and continue to introduce safeguarding measures to our perimeter.
Questions from Telegram
#1. COINSPAID develops many products, which is an advantage when it can meet almost the needs of users. However, does developing many products make management difficult? How do you ensure the quality of all COINSPAID products?
Max: – This is always a challenge. we grow 20% in volumes every month on average.
Everybody works hard to deliver good product and service. Always a challenge, but we are making it happen.
#2. What are the problems does $COINSPAID tries to solve in Crypto world for Developers? How Developer are incentivised from using $COINSPAID platform?
Max: – We are financial company today. So every client needs to pass onboarding and sign documents, so one cant just use our system without the process
Development studios introduce clients to us as our API is easy and powerful.
#3. For Every Project in Market needs Adoption and awareness ! So, Whats the Future main plans CoinsPaid planned for the Adoption/ Awareness ?
Max: – Our clients have 5M users.
We plan to shift them to using CPD as this will be cheaper for our clients.
We will make CPD great as this solves the need of our business clients “pay less”.
It will be multichain, so users can choose cheap blockchains for quick transactions everywhere.
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