NewsBTC: What is coinpayments.net?
Alex Alexandrov: Coinpayments is an open and adaptive payment system where you can easily make payments using any crypto currency and sellers will receive what they need. We are combining leading edge technology to bridge cryptocurrencies with legacy payment systems into a universal value processing platform that is based on open and democratic values.
How long have you been around?
We began as the 1st multi coin payment processor in the world in August 2013 after direct response and demand from the community to support Litecoin, Peercoin and other higher market cap coins. We built, managed, and grew the entire system, turning it into who we are today with just a tight core of 5 people with little to no funding.
What are the most common services you offer?
Crypto payment processing for 55 different currencies and trust-less conversion for 17. We built easy to install plugins for 25 of the most popular e-commerce platforms such as Worpress Woocommerce, Shopify, Droopal, Open Cart, etc. You can find the entire list here: https://www.coinpayments.net/merchant-tools-plugins
Coinpayments is poised to ride the Altcoin wave that CEO Alex Alexandrov predicts is the future and is, in fact, already happening given the sudden rise of 2.0 & 3.0 crypto currencies such as Ethereum, Ripple & Maidsafe who have evolved coins to be an integral part of the new generation of decentralized services that have the potential to reinvent the internet.
How many Companies do currently use your services?
Our store directory has over 500 store listings; this directory is updated by user submissions only and does not include everyone. Most of the users sign up for our service to accept payment on their e-commerce sites or to receive donations and use our api as our system is geared primarily towards vendors. That stated, as of today there are 18,217 vendors across 159 different countries.
What are the new services you have acquired?
Historically, evolutionary success has come down to a bigger brain, or in the case of crypto currency, a bigger wallet. Coinpayments has created the world’s largest coin wallet, currently holding 55 coins but capable of 100’s, to accommodate the huge number of crypto currencies that are already in circulation – and those yet to come. We are prepared for a non mono-coin centric future, with an open and democratic payment platform that embraces all coins that the market will support.
Through a growing list of exchange partnerships and API integrations we now offer settlements in CAD and USD currencies via Cointrader, Bluzelle, Coinbase and Cryptsy.
What are the most common misconceptions about your services?
Users often assume that coins with high market cap and daily exchange trade volume are actually being utilized for making payments on goods and services. However, we at Coinpayments are often able to distinguish if whether or not a coin is being embraced by the community or simply
being pushed by exchange speculators. This is the dispute we run into for delisting coins from our service after months of inactivity.
Coinpayments is highly considering making these statistics available to traders in the future.
What are your plans for the future?
Coinpayments is currently raising capital on BnkToTheFuture.com – the online investment platform which attracts some of the most promising FinTech, Alternative Finance and Innovation business from around the world.
We are hoping to raise capital to develop our coin payment platform further and expand the team as the company has now secured over 18,200 merchants and processed $5.5 Million USD in transaction for our clients.
Since launching, CoinPayments passed the $100k invested mark within just a few hours. I’ve always known money does not have to be so complicated. Coinpayments mission is to create an open and seamless world of payments, that works wherever you are.
You can watch how the campaign gets on live here:
What would you like to see implemented?
Many Charities, Foundations & Investment Platforms limit their acceptance of donations as they are faced with limits imposed by un-evolved payment processors. Now investment platforms can accept more forms of payments than ever before as this opens the platform of payment methods accepted. Convenience, efficiency, and helping out humanity? That’s something Coinpayments loves to be a part of.
Is there anything else you would like to elaborate on this article?
We’re proud to have on board with us, BnkToTheFuture, the global online investment platform, who are now using Coinpayments. This has helped them to accept a cryptocurrency called StartCoin. They are now positioned for the future to use other crypto coins making them the first online investment platform to allow investors to make investments using cryptocurrencies.
What do you think about cryptocurrency?
We think crypto currency is the logical next step in the evolution of internet, money and world connectivity.