Original article in Russian: https://link.medium.com/vDUbdFVNxnb
About project
Useful links: Website, twitter, telegram, medium
CoinsPaid — is an organization that provides payment services, both for businesses and for the average user in cryptocurrency. They allow their clients to operate globally, reduce various costs and enter new markets using their reliable cryptocurrency processing services.
CoinsPaid is operated by Dream Finance OU, registered and licensed in Estonia.
CoinsPaid, in turn, has 2 products:
- CoinsPaid — is a multi-currency wallet for
personal use. It allows you to simply exchange any of the 31 cryptocurrencies that are supported by the wallet for 6 fiat pairs. You can pay with cryptocurrencies in any store online or offline, and, in the future, withdraw cash in any currency directly from your crypto account using a CoinsPaid card. - Cryptoprocessing — is a complete crypto payment solution for online businesses. They enable businesses to operate globally, reduce costs, and expand into new markets using reliable cryptocurrency processing methods. You can accept any cryptocurrency and fiat for
payment, deposit and withdrawal from anywhere in the world.
Cryptoprocessing and CoinsPaid is part of the SoftSwiss group, represented by 5 brands: SoftSwiss, Merkeleon, 5 gaming, Cryptoprocessing and CoinsPaid.
The CoinsPaid project already has its own $CPD token, which will be used in their DeFi protocols, but so far the CoinsPaid services are partly centralized, but they strive to do all crypto processing under DeFi, the company already has a technology bridge and DEX, for this, but they are still raw.
They should be trusted because they have a license for crypto processing in Estonia, which operates throughout Europe (license number FVT000166), and they have also been awarded such awards as: “Payment Provider of the Year”, “Innovation in Payment Solutions” , Rising Star, and many more.
More than 800 online businesses are already working with them, with the help of which they have processed transactions worth more than $4 billion in 2021.
Cryptoprocessing
Cryptoprocessing is the main thing that CoinsPaid creates to empower crypto payments in the business.
Cryptoprocessing provides a range of cryptocurrency payment services for businesses and individuals. Their goal is to create the perfect cryptocurrency payment solution to give the world limitless blockchain payment options in synergy with traditional payment systems. It should be noted that this project is aimed at those who know almost nothing about payments in cryptocurrency, all the subtle nuances (for example, to pay for gas on the ether, you need to have the ether itself) are hidden under the hood of this program.
This brand is perfect for: eCommerce, iGaming, PSP, eSports, Streaming. It allows you to deposit bitcoins and other coins and get paid directly to your bank account in euros, US dollars, pounds sterling, yen, Canadian dollars or Australian dollars, which is very convenient!
Cryptoprocessing functions
- Making automatic payouts to multiple addresses is an important feature for affiliate systems.
- Full integration support through a dedicated manager so you and your clients can enjoy Cryptoprocessing features in no time!
- The ability to accept cryptocurrency payments and immediately exchange them for euros and 22 other fiat currencies.
- Protect your business from suspicious funds and fraud with their advanced security system.
Key solutions for business
- Invoices
Invoices — a method of bill generation where a given cryptocurrency is tied to a specific fiat amount, which the customer has to pay within a short period of time (15 minutes), after which the invoice has to be regenerated with the new exchange rate. This is a flexible tool that allows customers of a business to pay in cryptocurrencies and credits the required amount in euros or other fiat currency to the account of this business.
2. Exchange
Instant exchange between 31 cryptocurrencies and 23 fiat currencies. Automatic conversion of payments in any cryptocurrency or fiat currency to the currency of your choice. The over-the-counter Cryptoprocessing department will help you exchange large amounts at the most favorable rates.
3. Turnkey solutions for any business
Cryptoprocessing offers a turnkey SaaS solution for businesses who wish to provide crypto payment services to their merchants using our infrastructure. Our partners get access to the same functionality that we use. These services include: out-of-the-box technical infrastructure, round-the-clock support and maintenance, timely upgrades of the system.
SaaS solution — This is a cost-effective opportunity for businesses to start their own digital currency payment business and become coin payment gateway or cryptocurrency merchant service. Our customers receive a crypto payment processor under their own brand out of the box within a month. We handle all environment support, and customers can concentrate on their business development.
Advantages
Since the cryptocurrency market is growing every year, it would be much more convenient for users who work in the field of cryptocurrencies to immediately pay for everything in these assets, because they do not have to think about withdrawing funds and the legal obligations that follow. Moreover, the commissions in the current PSP services are very high, and transactions are slow. Therefore, CoinsPaid has a huge advantage in this area.
Cryptoprocessing allows:
- Save up to 80% on fees compared to traditional PSP.
- Increase conversions by 35%
- Achieve maximum user reach
More details about how and where crypto processing from Cryptoprocessing will be used can be found here.
Volume on Cryptoprocessing
They process 5% of all BTC transactions on the network. In total, they processed more than 9.5 million transactions. And their volume is growing by 18.8% every month.
$CPD Token
CPD — is a utility token in the CoinsPaid ecosystem that runs on different blockchains.
At the moment, this token provides little benefit to its owner. However, as this campaign moves towards DeFi, users of these tokens will benefit.
For B2B businesses, the benefits will be:
- Up to 10% commission reduction if you are a CoinsPaid marketing partner (coming soon)
- Commission reduction up to 20% if you stake CPD, or if you pay for gas in CPD (already available)
- Commission reduction up to 50% if you pay for the service in CPD (already available)
For B2C businesses, the benefits will be:
- Rewards pool, for the Ambassador (coming soon)
- Incentive pool for promoting CPD (coming soon)
- Marketing pool, for marketing partners (coming soon)
- Reducing the cost of all operations up to 50% if you pay for gas in CPD (coming soon)
You can also farm this token on BSC (first and second tutorial) and on Ethereum (tutorial), you can stake on UNICRYPT, and also add it to the liquidity pool on UNISWAP and PLASMASWAP
Tokenomics
The team hosted their IDO in the summer of 2021 at DAO Maker and SpacePort.
Market cap: $2M, 98.8M tokens in circulation, $20M FDV.
Ecosystem
CoinsPaid has a different ecosystem from other businesses in this area, if other projects come from trading, for example, the same crypto exchanges, since there are more users, more trading volume, respectively, more earnings, then CoinsPaid starts with B2B, that is, it strives even more, at the expense of the ecosystem, to please customers, thus providing their retail customers with convenient tools to enter the crypt, and then tie the interaction of the so-called merchants and their users within one ecosystem, which will give them instant transfers without commissions as well as recurrent payments, no one has done this yet in the crypto world, since no one had a large number of merchants, or a large corporate wallet.
Here are the things that are already implemented in the CoinsPaid ecosystem:
- Cryptoprocessing.com gateway, already used by over 600 merchants with 5 million users
- Exchange and OTC desk
- Hosted hot wallet provider
- CoinsPaid corporate and personal wallets
- SaaS provider white label, already 3 successful launches
Things that will be introduced into the ecosystem:
- Loyalty system for CPD users (should have been in Q3 2021)
- DeFi Dashboard(Q1 2022)
- Dapps internal registry (so far only at an early stage of development, it is not clear when it will be)
Roadmap
In 2021, they: created and released their own crypto wallet, which is supported on IOS and Android devices; they also launched their own token, which can be staked and pools added to their ecosystem; redesigned their wallet for the DeFi system; made support for bank cards; added CoinsPaid Academy to their platform; and also launched an ambassador program, which you can now join (more details)
Planned for 2022: to create a payment card; integrate the wallet into traditional ePayments; and create an opportunity to farm the CPD token.
Partners and investors
The project does not have many partners, but some of them are needed in order for the project to have investment money for promotion. Of the special partners, we can single out: AU21 capital and master ventures, as the main investors in crypto projects and everything related to the blockchain; BDC consulting, as a marketing investor who will help in promotion.
However, in addition to the usual investment partners, the project has businesses that already use their technology, including the well-known FavBet, mbitcasino and many others.
Team
The team includes more than 120 people, also representatives from marketing, media, blockchain development and education. Several team members have been working together since 2019.
Ceo Max Krupyshev — entered the crypt at the end of 2014, before that he worked as a product manager-programmer, after getting into the crypto world, he began to study industries in detail: iGaming, exchanges (he was the founder of cex.io in 2014–2015), and in general crypto-businesses (worked as the chief crypto-expert in cubits), after which he climbed the career ladder and became the CEO of CoinsPaid.
Chief Advisor Ilia Maksimenka, has vast experience in marketing, finance and blockchain technologies, he founded Plasma.Finance, Plasma Bank and Plasma DLT, which inspires confidence.
CTO Andrei Koposov worked for 13 years at Merkeleon Crypto Commerce Software, which gave him extensive development experience.
Conclusions
CoinsPaid — is a project that has been in development for a couple of years now. It is created and updated, with the help of experienced professionals in the crypto business. The main task of CoinsPaid is to implement the most convenient crypto-processing in the world, which can be used even by those who do not understand cryptocurrency at all. Also, it is not unimportant that they have a license that allows you to use cryptocurrency at the international level as a payment system through their project.
The cryptocurrency market is growing every year, and this industry has just begun to gain momentum, as people who want to buy, for example, a phone, first need to withdraw money, then have a legal document: buying and selling assets, and only then go to the store for purchase. In this regard, CoinsPaid will be the best service in this area, because in addition to the wallet from which you can send the crypt, an ordinary plastic card will also be made, which will further simplify the use of this service.
The CoinsPaid ecosystem is very well done, because if there is a demand for their services, which we have no doubt, the token will have to grow. The benefits of using the CPD token as a payment are huge, because the commission is reduced to 50%, which will allow B2B or B2C businesses to save 2 times.
Now the project is aimed at expanding its community, it is for this that they opened their ambassador program. I really hope that the moment is not far off when buying and selling things for a crypt will become much easier and more legal, and I think I’m not the only one, therefore, this is one of the few projects that, in the near future, will be able to do it.
