In Europe, bitcoin and other cryptocurrencies are recognized as crypto assets and so it’s not illegal to use them. However, individuals and businesses have been warned of the volatile nature of cryptocurrencies. In the US and Canada, bitcoin is considered a monetary service asset.
For other regions of the world, the situation is almost the same with some countries like Bahrain, Burundi, and Cameroon placing an implicit ban on crypto while Algeria, Bangladesh, and China have an absolute ban on crypto. The world appears to be divided in this share. However, the adoption of cryptocurrencies has continually increased. And one major lookout for users is payment gateways for carrying out transactions in cryptocurrencies.
While this may be risky due to policies enacted in nations, the volatile nature of the asset, and cyber theft, a lot of platforms have been developed to drive this market need. CoinsPaid is a direct example of such a system that is pioneering crypto payments across the world.
What is CoinsPaid?
CoinsPaid is a cryptocurrency payment gateway system with financial services that can be used for crypto transactions. The platform was created to aid personal as well as business-related processes in the fiat-crypto world.
In 2021, it had more than 800 merchants, with €5.6b processed in over 9 million crypto-related transactions. In CoinsPaid, users will find B2C and B2B services that match the basic needs of day-to-day activities.
Features of CoinsPaid
First, users must open a personal or business account to access the utilities in the CoinsPaid platform. Once done, they can have these features to use:
- Send and Receive Crypto Payments
In the CoinsPaid platform, users can make payments and receive payments in more than 20 cryptocurrencies including BTC, ETH, USDT, and XRP. These processes include a very minimal fee to process the transactions. So with CoinsPaid, businesses worry less about doing business around the world
- Exchange and OTC services
Once users receive payments in crypto on CoinsPaid, they have the permission to instantly convert to stablecoins or fiat currency to avoid risk. This is done seamlessly and when exchange needs to be done for a value over €500K, dedicated brokers are available to make that happen.
CoinsPaid uses a system to provide customized payment products for business owners who want to start their own digital currency payment business. A processor is dedicated to each business involved while the company handles all the back-end procedures and issues.
Users as individuals and businesses can pay (for goods and services in cryptocurrency with a 0% fee), receive, keep and send 30+ cryptocurrencies in the CoinsPaid wallet. This gives a secured location for the storage of cryptos, and grants access to discounts for users.
- Free Business Growth Consultation
To help businesses grow, CoinsPaid offers free business growth consultation for businesses on the platform. It’s an added advantage for organizations to increase profitability by learning from industry experts.
The $CPD token is the native currency that drives the ecosystem of CoinsPaid. Users have the unique advantage of staking or farming the token and earning from it. It’s been minted already and can be accessed on several DEXes.
$CPS token has a total supply of 800,000,000 and 3% is for partners and liquidity pools each; public sale, 2%; advisory, 5%; while private sale 1, private sale 2, incentive program, marketing, and the team will get 12%, 7%, 31%, 25%, and 12% respectively.
Under the CoinsPaid community is the referral system that anyone can use to earn from CoinsPaid by introducing someone else to the platform.
All of these tools and more are accessible using the Explorer with which users can track all their progress and transactions carried out on CoinsPaid platform.
Challenges and Road Map of CoinsPaid
BitPay, Coinbase, Coinpayment, and Coinbank are some of the top competitors in the crypto payment market that CoinsPaid will contend with for market share. And others like Bitlocus and DTTCoins with huge exchange and trading composition are also part of the market contenders for providing easy crypto payment solutions.
On the development of CoinsPaid, 2021 was focused on the first launch of the platform; beta launch of the wallet, and $CPD token with staking and borrowing; and the integration of affiliate program, eCommerce system, bank card support, and DeFi platforms into CoinsPaid.
Q1 of 2022 was planned for the integration of traditional payment systems, further licensing, yield farming, and the launch of marketing services. The Q2 will see the launch of the crypto bank card and upgrade of the white label.
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Team and Partners Behind CoinsPaid
Max Krupyshev is the Founder of CoinsPaid. Before now, he has worked on Crypto-related projects like Bitcoin Foundation, Ukraine (as Co-Founder until date); Bitcoin Expert with Bitcoin Inc.; Product Manager, Head of Gaming and Head of Crypto Business at Cubits; Product Owner at CEX.io and founder of Satoshi Square, Kyiv. Max has been into Bitcoin since 2013.
The CTO of CoinsPaid is Andrei Koposov. As a web developer, he has worked for Merkeleon Crypto Commerce Software as CTO, Engineering Team Lead, and Web Software Developer. Andrei also serves as CTO at Unique Exchange Inc.
Ilia Maksimenka is a builds Money Legos, and is interested in Web 3.0, metaverse, NFTs, and other crypto-related topics. He is an advisor with CoinsPaid.
Some of its partners are SoftSwiss, Binance, Kraken, FTX, Finery Markets, OKEX, Crystal and Gap600.
Conclusion
CoinsPaid is proving to the world that crypto and its underlying technology can be made available for everyday users. Both for individuals as well as businesses. As an Estonian registered company under Dream Finance OU, the team has shown a good response to regulations surrounding the crypto market. And lastly, its products show good promises for the future. Remember to DYOR before you engage.
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