Max Krupyshev: “CoinsPaid Makes Something Complicated Simple”
CoinsPaid CEO talked to journalists and shared a lot of interesting stuff about the cryptocurrency industry and specifics of Cryptoprocessing by CoinsPaid.
Max Krupyshev, CEO of CoinsPaid, gave an interview for Dukascopy TV where he talked about his experience in the cryptocurrency industry in general and the current state of the market. Specifically, he mentioned:
- the first projects and specifics of crypto adoption in Kyiv in 2013;
- peculiarities of crypto adoption in 2022 when the number of cryptocurrency users exceeds 300 million;
- the role of BTC, which still accounts for more than 50% of all crypto payments;
- the nature of how crypto-assets are perceived, with most people seeing them as tools for investing and trading, but not for payments;
- the use of cryptocurrencies as a tool to attract new users;
- the general motivation of big businesses to integrate cryptocurrency payments, etc.
“In 2019, [CoinsPaid aimed to] give a powerful solution with a low entry challenge, hide the complexity of cryptocurrencies, and present the product as a regular payment solution,” Max describes the company’s main strategy, which allowed it to take the leading position in the cryptoprocessing services niche.
“It was necessary to work through the whole chain of misconceptions surrounding cryptocurrency: slowness, anonymity, volatility, and others,” he continues. “Our clients can accept BTC transactions and convert them to euros in less than three seconds after a customer on the other side of the world clicks the “Send” button.” According to Max, in doing so, the customer is insured against the fact that the particular transaction is linked to the darknet or carries other risks.
Max states that CoinsPaid cannot be compared to Visa or MasterCard in payment processing speed today. Nevertheless, more than 1.5 million transactions were processed in July 2022, which is one transaction per 2-3 seconds. So the user probably will hardly feel any difference. The exception is separate blockchains, like Ethereum, where the waiting time can be 1-2 minutes.
CoinsPaid’s key plan, voiced by Max Krupyshev, is to refine its own cryptocurrency wallet, which was released at the end of January 2022. The wallet will “lock” the ecosystem and greatly simplify all processes for more than 5 million CoinsPaid users, both for senders and recipients. The company also intends to expand its global presence, particularly in Latin America. This was mentioned, among other things, by Irina Valentovich, CoinsPaid CCO, in an interview for the Brazilian Valor Econômico.
Among the goals, Max mentioned plans for “improving the product and the processes — basically making clients happier.” He gave more details about the plans for 2022 during an informative AMA session in April.