Roadmap and CoinsPaid Results: Key Accomplishments for Q2 2022
The second quarter of 2022 has been a period of active building for CoinsPaid, with significant improvements in B2C (both web and app), B2B, and marketing. Let’s look at our recent accomplishments and the exciting things we’ve been adding to enhance customer experience.
- CryptoProcessing by CoinsPaid became the leading market services solution with over €13B in total processed volume since launch and over €1B in monthly volume.
- We successfully rebranded and launched the CryptoProcessing.com website, breathing new energy into it.
- Our team actively participated in several events and exhibitions globally. In April, we organized our first IT event in Georgia.
- CPD support was added to several wallets: BC Vault, Lumi, Guarda, and Coins.ph.
- We’ve started negotiations with the ChangeNow payment service to list and co-market CPD.
The Road Ahead: Marketing Plans for Q3 2022
- Launch the CPD Foundation. The Foundations will be registered in Zug, Switzerland, and will promote the adoption of $CPD across the blockchain industry.
- Continue communications with Tier-1 CEXs regarding CPD listing on their platforms.
- Start work on the CoinsPaid rebranding, scheduled for Q3.
We made significant changes to the website and app, but as perfection knows no limits, we’ll keep improving and adding more features.
The key achievements focused on the Turkish Keopex project, where we improved the wallet’s manageability through back-office adjustments:
- System currency setup mechanism
Clients can now select a base currency, unlike before when the euro was the default currency.
2. Wallet localization mechanism
When entering new markets, wallets can be multilingual to suit the target audience’s language.
3. Plug & pay
We made improvements to ensure recurring payments are seamless and user-friendly.
4. Change KYC via back office
Previously, the compliance team needed to contact support to change a user’s KYC level. Now, changes can be made via the wallet’s back office.
The Road Ahead: B2C Web Q3 Plans
- A measurable and manageable wallet.
- A competitive wallet that is attractive to new users.
- A wallet ready for marketing campaigns and an increase in active users.
- Service updates
We introduced a service info screen that contains a list of transactions for selected services. Users can set limits and connect & disconnect from the mobile wallet and the web app.
2. Bug fixes
iOS users reported that the app would restart when trying to select their country from the drop-down menu during registration. We fixed the issue, and now country selection can be done seamlessly.
3. New API version and base currency functionality
Users will now be able to see the amounts in their selected base currency in various areas from wallet balance to the equivalents in exchange.
4. Only crypto shown when fiat currencies are unavailable
If a user doesn’t have any fiat currencies available, their balance will be displayed in crypto only.
5. KYC Events Added
We implemented two events for convenience and clarity, KYC_Shown and KYC_Level_Pressed, with the latter’s parameters based on the selected level.
The Road Ahead: B2C App Plans for Q3
- Amplitude mobile analytics
- Add bank accounts for SEPA
- Top up & withdraw fiat via SEPA
- Buy crypto by card
- Improve registration flow
- Improve login UX: biometry, PIN, & save login credentials
- QR codes and payment links for receiving crypto
On the B2B end, the team put in a lot of work and can be proud of the results:
- Listing BRZ
The Brazilian Digital Token is now listed on CoinsPaid, and merchants can use it for transactions. We intend to enable conversions at a later date.
2. Explorer links for new currencies
The appropriate explorers for recently enabled currencies (BNB-BSC, BUSD & CSC) are now available.
3. New transactions page by default
All users can now enjoy the new simplified transactions page that is faster than the old one.
4. New trading pairs with native Binance assets
We added several new crypto pairs to CoinsPaid:
- BUSD to BTC, USDTE, USDTT, ETH, BNB-BSC, BNB;
- BNB-BCS to BTC, ETH;
- BNB to ETH.
5. Repeat deposit in case of errors
We made changes to the scenario where transactions could not be completed due to various issues; now automatic callbacks will be repeated or error messages will be displayed instead.
6. Optimized payments page
The payments page is now simplified and optimized to ensure a faster response and better navigation.
We expanded the invoice details section to add new information, such as date filters, refund fees, and expiry dates.
8. Resend activation email
Users can now access a ‘Resend activation email’ option if the original email is not delivered or lost.
9. Additional Features
We added additional features to enhance the user experience, including displaying real amounts, a navigation rail, a customized UI theme, a focus on the first cell during 2FA login, and separate address generation for different currencies.
The Road Ahead: B2B Plans for Q3
- PrestaShop and OpenCart CMS completion
- Bit2Me SaaS
- Process Automation
- Back-office optimization and report uploads
In the first half of 2022, we registered a 182.4% volume increase and a 140.7% increase in the number of transactions compared to the first half of 2021. Despite the current crypto winter, we remained resilient and registered growth during Q2 2022. The amounts processed grew by 7.8% compared to Q1 of 2022, with the number of transactions dropping by 0.99%.
CoinsPaid recorded over 23 million transactions valued at over €13 billion. May saw us achieve record monthly figures with over €1 billion worth of crypto processed.
USDT, BTC, and ETH continue to command the lion’s share of the turnover with 43.6%, 22.99% & 16.27%, respectively. Altcoin transaction volume has gone down due to the current market conditions, with USDT and ETH accounting for a bigger share of the turnover compared to Q2 2021 (+5.74% for USDT and +8.3% for ETH). BTC’s share, however, shrank by 10.59% in the same period.
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All financial, statistical and other data regarding the clients/merchants, conducted transactions, etc., has been provided as aggregate from activities of all legal entities operating under brand of Coinspaid, specifically: (I) Dream Finance OÜ, Harju maakond, Kesklinna linnaosa, Rotermanni tn 6, 10111, Tallinn, Estoni; (II) Dream Finance UAB, Gynejq St. 14–65, Vilnius, Lithuania and (III) Dream Finance S.A. DE C.V., 3A Calle Poniente Y, 71 Avenida Norte, Col. Escalon, edif. Lexincorp, office No 3698, San Salvador, El Salvador.