CoinsPaid becomes the crypto payment market leader with more than €12 billion processed in total
CoinsPaid’s processing volumes increased 3.6x in Q1 2022 compared to the same period in 2021 and reached €2.7 billion. The number of transactions processed by the service grew by a factor of 2.3 to 4.5 million.
As can be seen on the chart, CoinsPaid’s volume and transaction metrics are constantly growing. From 2018 to the end of 2021, the volume grew 27x in the euro equivalent, while the number of transactions surged 16x.
Overall, CoinsPaid has processed 21 million transactions for a total of €12 billion. We process about 8% of all on-chain transactions in Bitcoin. Taking into account the Q1 2022 results, the company could break its own record by the end of this year.
Transaction volume dynamics in Q1
The highest volume of transactions was registered in March, approaching the €1 billion mark, while in January and February the volume reached €890 million and €837 million, respectively. In January, the number of transactions was 1.43 million; in February 1.47 million, and in March 1.59 million.
$CPD plans
CoinsPaid has its own utility token, $CPD. It was created to ensure a smooth transfer of value across our ecosystem. In Q2 2022, the team started deploying full-fledged functionality for integrating the $CPD token into the discount system.
The $CPD token will be integrated into the entire product ecosystem of the company, be it B2B (800+ large customers already) or B2C products (15000 wallet users already). It will let CoinsPaid’s B2B and B2C customers get up to 50% discount on the company’s solutions. To receive discounts and additional benefits, customers will have to replenish their $CPD balance monthly (to pay the fees) and stake the token. Given the current transaction volumes approaching the €1 billion per month, this will create a stable monthly demand that could potentially exceed the entire current capitalization of the token.
In Q1, the team received two legal opinions on $CPD from top law firms and is now fully (legally and technically) ready to connect clients to the loyalty program. So far in Q2-Q3, the company expects a large demand for the token from its customers. Also, the $CPD token is planned to be listed on several large CEXs in Q2-Q3.
In Q1 2022, CoinsPaid launched several $CPD-centered promo activities, including yield farming, listing on the Savl social network for digital asset owners, regular airdrops for the $CPD community, and a token co-marketing offer for merchants. $CPD is now supported by several popular wallets, including Lumi Wallet, BC Vault, Guarda, and Coins.ph.
Visit CoinsPaid website to learn more about the $CPD token.
A wide range of services
CoinsPaid is working with over 800 large and small companies around the world, which, in turn, provide services to more than 7 million end users. Growing demand for crypto payments will push these numbers up in the near future.
The company currently processes transactions in 30+ most popular cryptocurrencies, including BTC, ETH, LTC, USDT, BUSD, and many others. It also allows the conversion from crypto to more than 20 fiat currencies, such as USD, EUR, and all the majors.
Future plans
CoinsPaid plans to continue its active development. The company is setting ambitious goals to enlarge its audience, expand the portfolio of supported cryptocurrencies, and increase the number of transactions as well as the volume of operations. In Q3, the token’s functionality will be incorporated into CoinsPaid’s personal cryptocurrency wallet, and payments in $CPD will be enabled across the affiliate network.
You can follow all CoinsPaid news in the Telegram channel and on the CoinsPaid website.
And feel free to download CoinsPaid personal crypto wallet from AppStore or Google Play.
