Discussions about the main barriers to mass crypto adoption, the current need for crypto platforms, and interesting insights about the CoinsPaid team and its products — all this and more in Max Krupyshev’s AMA session.
Max Krupyshev, the co-founder and CEO of CoinsPaid, answered several questions from users during the AMA session on the Cointelegraph platform. The full discussion can be found via the link, but we’ll briefly summarize its main points.
More specifically, the issues of mass crypto adoption, the main barriers in its way, and the possibilities to accelerate this process were touched upon. According to Max, the main barriers to global adoption are:
- a lack of understanding of how blockchain works, what cryptocurrencies are, and why they should be used;
- lack of mass implementation of infrastructure for accepting crypto payments on behalf of sellers.
However, merchants are getting more interested in accepting cryptocurrency payments as the number of crypto users increases. That being said, merchants face the same obstacles of a lack of understanding of the technology, as well as legal issues and difficulties of compatibility with traditional payment systems like Visa and Mastercard.
So, the possibility of using cryptocurrencies as a payment instrument and an investment tool will contribute to the sustainable acceptance of cryptocurrencies. To recap, cryptocurrencies are projected to be used by over 1 billion people by 2030.
Max stressed that in this context, CoinsPaid works to improve user awareness and provides businesses with technical solutions for working with crypto payments. This is especially relevant for global companies that trade or accept payments around the world. Using CoinsPaid saves them from a large part of the “headache” associated with financial operations, as it offers a way to automatically convert all transactions into a business-friendly currency.
The cryptocurrency market has gone from complete rejection to interest from government regulators and the management of major banks and financial institutions. Within this context, there is a growing need for providers of relevant services and software. The flagship product in the CoinsPaid ecosystem is the CryptoProcessing service, which allows users to accept payments and pay their customers in cryptocurrency.
Max Krupyshev described CoinsPaid’s main mission as “satisfying the daily needs using cryptocurrency, not only for businesses but also for common users.” Therefore, CoinsPaid has grown into a cryptocurrency ecosystem and today includes the following products:
- B2C cryptocurrency wallet;
- OTC desk for large traders;
- an educational platform and a news site;
- SaaS solutions for businesses;
- CPD token, which integrates the entire ecosystem.
The company pays close attention to its human resources. “People are the core value of the company. If we grow as a team, as professionals, we grow as a business,” Max says. Today, CoinsPaid is a multinational team, with more than 200 people from 15 countries. The company has opened several offices around the world, but there is no requirement to work in an office, so employees can work remotely and travel freely. Due to objective reasons, the company does not recommend team members stay in Russia and Ukraine. Nevertheless, in Ukraine, for example, a number of CoinsPaid employees continue to work. At the same time, the company is increasingly interested in Latin America, expanding local offices in Brazil, Argentina, and Peru.
Max was especially proud of the fact that in conditions of a bear market the company “only doubled the volume of processed payments”, although the plan was for threefold growth. This comes amid bankruptcies and mass layoffs at major crypto companies. CoinsPaid’s staff has doubled in the meantime and there are still more than 50 open positions on the site.
For more details, check out the video version of Max Krupyshev’s AMA session. By the way, the CEO of CoinsPaid is often involved in all sorts of public speeches and interviews. In one of his recent interviews, he formulated the company’s role in the cryptocurrency market in the following way: “CoinsPaid Makes Something Complicated Simple”.
