Total October 2021 revenue: €1,869,207
October 2021 Revenue share: €186,921
Share per 100 CPAY: €0.207
Distribution date: November 10th, 2021
October 2021 Revenue share in ETH: 44.4912 ETH

€1,869,207, and this is the best result for Cryptopay ever. Yet.

The cherry on top? All this became possible thanks to B2C, which had a massive growth spurt in every area possible. Wallet exchange operations? Doubled. Bank transfers? 1,5x times higher. The card programme? Up 30%. Card deposits? Ditto. B2B stayed pretty much in the same place, but considering that where it was was the Brilliant street — oh well, we’ll take it.

Can we guarantee a better (or, at least, the same) result for November 2021? Obviously, not. Cryptopay humble, and first of all, the market is the first one to blame for our success. But then again, we did do a good job, too: product development cleans up nicely, and we’ll soon begin planning for Q1 2022, but this is another story for another time.

Oh yeah, almost forgot. BTC has surged above $67,5k and broken a new record. Have you noticed?

Claim revenue. Find out how.

October 2021 Report & Analysis was originally published in The CPAY Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Numbers
Total September 2021 revenue: €1,619,586
September 2021 Revenue share: €161,959
Share per 100 CPAY: €0.179
Distribution date: October 11th, 2021
September 2021 Revenue share in ETH: 52.3552 ETH

Analysis
Another month went by, and Bitcoin is up $10k, now trading just below $55k. Meanwhile, most altcoins are still treading water or even seeing red. JPMorgan named 3 potential reasons for the BTC’s recent success (+35% since the beginning of October). The first of them is the newly awakened interest from institutional investors — apparently, they’re regarding Bitcoin as a better solution in hedging against inflation than gold. The second is the Lightning Network (layer 2 payment method) or rather Twitter boosting the former: wholeheartedly embracing the progress, the inhabitants of Twitterland can now leave tips in Bitcoin via Strike — a payments application built on the Bitcoin Lightning Network. For what it’s worth the third reason seems to be the US politicians and their heartfelt reassurances that they’re not planning to go too hard on crypto (not like China does, anyway). Stablecoins, on the other hand, are another matter entirely. As always, can’t wait to see where it takes us.

Report
What did September 2021 bring us? B2B is up 5%: the old merchants are feeling strong, and the new ones likewise are ready to give them a ride for their money. Our sales managers have had a nice productive time at conferences in Barcelona and Amsterdam — and there we permit ourselves to hope that as we’re getting back to how things were, the new events will bring us many new clients (staying cautious as always, of course, better safe than sorry). Sustainable growth requires resources, and so we’re adding new blood to our team.

As for B2C, both card deposits and the card programme are pretty much the same as we left them the last time. Wallet exchange operations feel a tad under the weather, so B2B has to work double (which our colleagues impressively do). We’re finishing the new onboarding process, continuing to redesign web and app, and are making plans for 4Q 2021- 1Q 2022. All of this should lead to systematic growth and become a basis for new developments. And here’s to that.

Have you noticed the new coins? Add to your portfolio or hit us up in the chat if you want to, uhm, have a nice little chat about them with our Support team (they’ve got things to say!). In either case, don’t miss out! See you soon🙌.

If you came for the revenue share — you can withdraw it here. This guide will remind you how to do it.

September 2021 Report & Analysis was originally published in The CPAY Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Numbers

Total August 2021 revenue: €1,626,261
August 2021 Revenue share: €162,626
Share per 100 CPAY: €0.180
Distribution date: September 10th, 2021
August 2021 Revenue share in ETH: 58.4292 ETH

Analysis

What a crazy month it has been for Bitcoin and the followers! Rising and falling and rising even stronger and stronger to break above $50k and finally return to where it began one month ago (just above $45k). Phew! Equally turbulent it’s been and for the rest of the digital assets (minus the stablecoins, hah!). Do you ever get tired of your favourite altcoins dancing to the BTC’s tune, or are you taking it stoically? Let us know your take on this — we’re dying to know🤓

Report

And what about Cryptopay? Well, we continue to grow. B2B is up 3% compared to the last month, and B2C is up 4% (net of one-off effects). Easy does it!💪

Regarding card deposits, we see a new spark of interest there. Sales of the Cryptopay card continues to grow organically, and the card will sport a new design soon (not to sound our own trumpet or anything, but it is gorgeous :). Don’t be surprised when you log in on the web or via app shortly either — we’re preparing some fancy refurbishments there as well. We’re also working on optimising onboarding and GBP bank transfers — both will soon become even faster, more convenient and will work 24/7. Yes, 24/7. Finally!

Our B2B heroes are getting ready to take part in new conferences. Are we back to the pre-COVID world at last? Hopefully, Autumn and Winter won’t bring us any surprises.

Have you noticed that we’ve added 7(!) new coins? That’s right, sir, you can now buy DASH, USDC, 0X, MATIC, BAT, OXT and OMG on Cryptopay. Follow the link to add to your portfolio👍

Stay radiant!

If you came for the revenue share — you can withdraw it here. This guide will remind you how to do it.

August 2021 Report & Analysis was originally published in The CPAY Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Numbers

Total July 2021 revenue: €1,500,573
July 2021 Revenue share: €150,057
Share per 100 CPAY: €0.166
Distribution date: August 6th, 2021
July 2021 Revenue share in ETH: 62.6554 ETH

Analysis

In July 2021, Bitcoin made many a heart flutter when it began its ascension to the once controlled territories. Having fallen to $29,8K, it managed to conquer $42k and is now trading just below $41k.

But to some, it still lost its spot in the limelight to Ethereum. On 5 August, we witnessed the implementation of the Ethereum London hard fork upgrade. The upgrade is meant to make the blockchain more efficient by helping the network to process many more transactions per second. People also hope that it will help fight high gas fees.

Imitating BTC in its upward movement, ETH now trades at just above $2,8K.

Report

As expected, after the return to the pre-hype levels, our revenue stabilised: steadily and systematically it grew in comparison with the previous month, this time — thanks to the Wallet and, to a lesser degree, B2B. Card deposits are still feeling a bit under the weather (17% fall compared to June 2021), and the card programme has performed a bit worse in comparison with the previous month (6% fall). On the other hand, B2B had risen 3%, and the Wallet won back the ‘lost’ 17%.

We’re actively adding new coins and a few days ago welcomed our very first stablecoin. Now you can buy USDT on Cryptopay! We’re expecting new coins should attract new customers and spark interest in the old users, as well as serve as a basis for new products (for example, staking).

We’re also making iterative changes to our web platform and the apps. Hopefully, this will have a positive outcome on our customers and revenue, although our primary goal is to make Cryptopay easier and more user-friendly for our already existing community. And a bit more dapper, too!

Google is lifting its ban on advertising crypto, and our marketing team can’t be happier. They’ve got a lot in store for you.

Unless something unpredictable happens, the next couple of months promise to be steady. Explosive growth sounds sweet, but realistically, we understand that there’s a lot to do still.

Ah, almost forgot, our B2B team is getting ready for their fancy events — that’s an interesting story for the following issues.

Stay amazing!

If you came for the revenue share — you can withdraw it here. This guide will remind you how to do it.

July 2021 Report & Analysis was originally published in The CPAY Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Numbers

Total June 2021 revenue: €1,420,315
June 2021 Revenue share: €142,031
Share per 100 CPAY: €0.157
Distribution date: July 9th, 2021
June 2021 Revenue share in ETH: 78.1204 ETH

Analysis

After a monthful of continuous struggle, Bitcoin is down 12% and trades just above $34k. Along with it, down goes Ether (down 18.9%) and most other cryptocurrency assets. The cause seems to be the usual ‘Rebound in Covid-19 cases -> economy is feeling drowsy and cannot shake it off -> investors move to safer havens or try to, at least.’ Some hope that BTC will reach new heights ($65k and higher), some forebode a fall to $20k and lower, but at the moment consolidation between $30k-$35k is where we at. And where we go from here and how soon, only time will tell.

Report

June 2021 was the first month in a long while that hasn’t beaten its predecessor — the revenue it brought us was a bit humbler.

B2B performed at the same stellar level (2% growth) and repeated April’s success (the best in history yet). At the same time, B2C reverted to pre-hype January 2021 level when the posse of cool cryptocoins haven’t shown just how volatile they can get yet, and our ‘standard’ revenue was purely organic. Both the EEA card programme and bank transfers are feeling lively, and the only thing that brings the numbers down is the Wallet exchange transfers, which is only to be expected given that they were the main culprit behind the anomalous revenue growth spurred by violent shakes of the exchange rates. This wasn’t the case in June, so the numbers must surely reflect the normal expected organic revenue of Cryptopay (fingers crossed).

Talking about the future, seeing that our brand-new marketing team is just getting started, the following few months should probably match June. Unless, of course, the market has its say and do something — good or bad — in its highly unpredictable fashion. If not, natural organic growth it is.

Apart from that, we’ve been quite busy lately revamping and redesigning the website. You should be able to witness the new look soon. We’ve also launched 4 new coins — please give your warmest welcome to LINK, SNX, UNI and AAVE. B2B will return to its glamorous life of events and conferences presently, and we shall shed some light on it as soon as they do.

Have we already tempted you to try new coins? Because, you know, you can quite easily buy them in your Cryptopay account. It’s fast, it’s simple, and it must feel good to try new things once in a while ;)

However, if it’s the revenue share you’re after — you can withdraw it here. This guide will remind you how to do it.

See you soon!

June 2021 Report & Analysis was originally published in The CPAY Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Every crypto investor appreciates one thing above all. Being able to choose.

That’s why we’ll be adding new coins so you can support the best and earn on it.

Today, we’d like to introduce you to these 2 new assets. While new to Cryptopay, our newcomers have been there for a while and have proven to be both resilient and promising.

Synthetix (SNX) — Shows us how it’s done since 2018. Having risen from $1USD to $27USD in less than a year, the asset is now comfortably trading above $10, biding its time to reach new heights, undoubtedly.

Chainlink (LINK) — Launched in 2017, LINK grew by more than 10 times in the past year. Today, it’s among the most popular cryptocurrencies on the market, trading between $20–30.

If you’d like to make your crypto portfolio richer, these 2 are a great choice.

Add to your portfolio today!

Cryptopay adds SNX and LINK was originally published in The CPAY Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Numbers

Total May 2021 revenue: €1,635,016
May 2021 Revenue share: €163,502
Share per 100 CPAY: €0.181
Distribution date: June 10th, 2021
May 2021 Revenue share in ETH: 78.7845 ETH

Analysis

The last month has been… interesting.

First of all, Bitcoin is down 41% in comparison with early May, which might not have entirely escaped you, even if you don’t have any stake in the business whatsoever (who knows, maybe you’re more of a Doge person). The coin currently trades at just above $34k.

The fall from grace can finally be attributed to 2 very specific reasons. One of them being the Chinese government cracking down on crypto, and the other, unexpectedly, Elon Musk — the very catalyst behind the newfound crypto boom. Well, at least up until recently.

At the moment, some 75% of the world’s bitcoin mining happens in China due to its cheap electricity, which, of course, can’t be good for the environment. Purely political aspects aside, this goes against the ambition of the government to make China carbon-neutral by 2060, and so it’s “clamping down on bitcoin mining and trading activity”.

As regards Mr Musk, he seems to be flip-flopping all over the place as Tesla will no longer accept Bitcoin as payment for its cars, citing, again, climate change concerns as the reason. Fair enough, but still, a nasty shock for a casual investor engaging in some cheeky momentum trading. So much so that some investors actually plead with Mr Musk to stop tweeting.

Amidst the kerfuffle, Ethereum is getting ready for a transition to a Proof-Of-Stake consensus mechanism, which promises a more scalable, secure and sustainable future. According to some estimates, a PoS Ethereum will consume at least 99.5% less energy.

A complex process that consists of several essential steps (introduction of the Beacon Chain, the Merge and Sharding) is expected to culminate sometime in 2022.

‘At the beginning, I thought we might do a blockchain in three months… but we found out that it takes 18 months to finish,’ shares Ethereum’s creator and co-founder Vitalik Buterin. ‘We thought it would take one year to do the Proof-of-Stake, but it actually takes six years.’ Boy, can we relate.

Revenue

Despite a significant increase in revenue in May 2021, most products showed similar results comparing with April. However, both Exchange operations (Wallet) and the EEA card programme managed to outperform themselves. The Wallet owes its success to an increased volume of transactions made by several large retail customers, while the card programme is continuing with its organic growth.

The B2B, card deposits and bank transfers remained practically at the same level, with the latter showing moderate organic growth as well, which can also be said about B2C as a whole: at this stage, it’s still largely organic and spontaneous.

We’ve just started applying major changes to the product and our marketing approach and thus should reap what we sow towards the end of the summer. Have a lovely end of the week!

Claim revenue. Find out how.

May 2021 Report & Analysis was originally published in The CPAY Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Numbers

Total April 2021 revenue: €1,499,544
April 2021 Revenue share: €149,954
Share per 100 CPAY: €0.166
Distribution date: May 7th, 2021
April 2021 Revenue share in ETH: 51.2232 ETH

Analysis

April 2021 was a relatively calm month for Bitcoin enthusiasts. What does losing $14k in less than 2 weeks even mean anymore if the price is just going to return to the same level ($56k)? It hasn’t been terribly active since February.

But is the recent stagnation a good thing for Bitcoin? Strategists at JPMorgan would argue that it is.

High volatility, quote, acts as a headwind towards further institutional adoption, unquote. Once stabilised, it would help reinvigorate the interest of professional investors.

The latter has been swayed a bit since the October boom. Gold is falling out of favour, and now allegiances lie elsewhere. Compare $20 billion in gold fund outflows to $7 billion in bitcoin fund inflows for the past six months (according to the bank).

“Considering how big the financial investment into gold is, any such crowding out of gold as an ‘alternative’ currency implies big upside for Bitcoin over the long term,” JPMorgan said. How big? About $130k big.

Now, JPMorgan’s long-term price target for Bitcoin exists on the idea that Bitcoin’s volatility will match gold’s. And it’s not going to happen anytime soon.

“A convergence in volatilities between Bitcoin and gold is unlikely to happen quickly and is likely a multi-year process. This implies that the above $130,000 theoretical Bitcoin price target should be considered as a long-term target,” JPMorgan said. Still, something to look forward to.

Talking about volatility, it now seems apparent that Bitcoin walked so Dogecoin could run. As Kraken April report states: “The month ended with DOGE up a jaw-dropping +500% and volatility hitting a record monthly reading of 422%.”

In comparison, BTC’s volatility is just 67%, which, coincidentally, is the exact number of cents you’d need today to buy 1 DOGE.

“The overarching narrative behind the coin’s run this year,” continues the report, “is a protest against systemic inequities in the traditional financial industry — Dogecoin is, after all, the original ‘meme asset.’”

What a noble cause. Care to invest?

Revenue

While we cannot compete with Dogecoin (yet), we’ve got our own volatility — but we’re only going up. In April 2021, B2B grew by 3%, and B2C by an impressive 24%(!).

B2C growth mainly owes to wallet exchange operations while bank transfers performed similarly to last month. Card deposits volume continues to grow as does the card programme revenue — the progress here is slower but just as consistent.

Overall, B2C almost repeated its recent success of January 2021. But what was then largely a result of the rally and a series of separate large operations, now looks more like organic growth. We’ll cross that bridge when we come to it, of course, but it’s not at all implausible that May 2021 might at the very least reach the same heights as did this April.

See you on the other side!

Claim revenue. Find out how.

April 2021 Report & Analysis was originally published in The CPAY Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

When talking about fraud risks, cryptocurrency has some advantages and disadvantages compared to traditional fiat transactions.

With fiat transactions, fraudsters only need some key information about you to gain access to your funds, whereas with cryptocurrency transactions, they need to break through the actual defence of your wallet.

Hacking

To access your Cryptopay account, the first thing the hacker would need is your email and password. Do not use the same password for your email account and the account where you keep your money.

We highly recommend enabling Two-factor authentication. This way, access to your account will be protected by one-time passwords generated in a special app on your smartphone or another device. Be sure to keep it well protected.

Apart from Two-factor authentication, Cryptopay also utilises fingerprint and face authentication (Android, iOS) and device confirmation to protect access to your account. We want to make sure this is indeed you who logs in from the old or a new device.

Social engineering

However, there are many cases when hacking skills are not necessary to gain access to your account, and fraudsters go for persuasion tactics instead.

They often pose as financial advisers, traders or employees of fintech companies to try to scam you for your personal data and gain access to your devices and accounts.

Remember, Cryptopay never asks:

• To provide remote access to your devices
• To share your password, Two-factor authentication code or full bank card number.

If someone requests this information or access to your devices, it is a sign of fraudulent activity. You should cease communication with this person and inform us immediately.

Important! If someone (e.g. a trading platform) asks you to create a Cryptopay account to work with their company, this might be a serious safety concern. Please note that Cryptopay is not a trading platform, nor do we partner with any such companies.

Why fraudsters favour crypto platforms? The answer might lie in the nature of cryptocurrency transactions. They are irreversible. Once you press the Confirm button to send your money to another platform (e.g. ‘for trade’), we won’t be able to revert the transaction, nor refund it.

Always properly research the trading platform in question before you provide third parties with any documents or send them any money. A good rule of thumb is: if something sounds too good to be true, it probably is.

If we believe you might have fallen victim to fraud, we will immediately take actions to protect your account and contact you to offer assistance.

Remember: What makes any fraud prevention system effective is the joint effort of both the company and the customer. Stay vigilant!

Contact us

If you suspect that third parties might have access to your funds or personal information, be sure to contact us immediately using our official channels:

Email: support@cryptopay.me

Online chat (accessible from our website https://www.cryptopay.me/ or our apps iOS, Android)

Telegram channel: https://t.me/cryptopayofficial

Please note that we don’t offer phone support and don’t use other messengers apart from Telegram. If in doubt, it’s best to double-check via official channels.

Be safe out there!

Cryptopay Security and Client Protection was originally published in The CPAY Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Numbers

Total March 2021 revenue: € 1,389,052
March 2021 Revenue share: € 138,905
Share per 100 CPAY: € 0.154
Distribution date: April 9th, 2021
March 2021 Revenue share in ETH: 79.2720 ETH

Analysis

Things have never looked so good for Bitcoin as we’re entering the 7th month of euphoric growth that began at the end of the last year. Having jumped and touched the $61k mark a month ago, the coin is now confidently trading just below. An important milestone for ETH as well, as for the first time in history it reached 2K ETH/USD. It begins to look a lot like a marathon, and we hope that our runners won’t be out of breath anytime soon.

Of course, the more powerful cryptocoins get, the more power they require: the technology’s growing energy consumption and its impact on our climate are disheartening. Luckily, there seems to be an emerging solution to this problem headed by Crypto Climate Accord that pledges to decarbonise the industry and make crypto green. The Accord, inspired by the Paris Climate Agreement, is a private sector-led initiative for the entire crypto community focused on decarbonizing the cryptocurrency industry in record time. You can read about their objectives and principles here and share with us what you think about this initiative and its viability.

Revenue

We’re continuing with the steady growth: overall, in March 2021, the revenue was 5% better than the last month. B2B was up 25%, while B2C, without the additional revenue we wrote about last month, reverted to ‘normal’ volumes and was down 28% compared to February 2021. However, the card programme is continuing to grow and prosper (up 30%).

In B2B, we’re planning to implement a comprehensive and detailed approach to this part of the product by the end of 2Q 2021 and will be happy to share the news in the upcoming months. This will include team expansion, product development and much more. In the meantime, we’re concentrating on the current merchants and working towards partnerships with new ones.

Meanwhile, B2C has been much more active lately. First and foremost, we’ve implemented electronic verification for new users from the UK.

Electronic verification (EKYC) means that users won’t need to provide documents, only enter the essential information such as their name, date of birth and ID number. The process that previously could take a few hours now takes a few minutes, which means that our users can now interact with their new account almost immediately. Veni, vidi, vici!

You might have also noticed our new Savings page — a little sneak peek at the product we’re planning to introduce later this year. You can check it out now and leave your email if you’d like us to share the updates with you.

Stay tuned — there’s plenty more where that came from!

Claim revenue. Find out how.

March 2021 Report & Analysis was originally published in The CPAY Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.