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CoinsPaid Continues To Scale Up, Handling Transactions Worth €23 Billion Amid Market Turmoil
CoinsPaid is one of the largest crypto payment ecosystems that provides solutions for individual clients and enterprises to smoothly integrate cryptocurrencies into business and daily life. The company has been showing solid growth, handling a total of 41 million transactions worth €23 billion since the beginning of 2023. CoinsPaid’s payment gateway processes about 8% of global on-chain Bitcoin transactions.
In Q1 2023, CoinsPaid completed 6.4 million transactions worth €3.7 billion. Hence, the number of transactions and their volume have shown a 41% and 38% growth year-over-year, respectively.
Transaction data also shows that despite the ongoing dominance of Bitcoin, USDT stands as the second most popular currency to be used in Q1 2023. CoinsPaid observed that 62,5% of transactions were done in BTC, followed by 10,4% in USDT, overtaking ETH and claiming the second place. Additionally, the share of USDT transactions has grown by 1,7% since the autumn of 2022, indicating an ongoing growth of interest towards stablecoins.
While the crypto market continues to experience turmoil – layoffs, bankruptcies, and a revenue fall, CoinsPaid does not cease to scale up, improve and implement new product features. The comparison between Q4 2022 and Q1 2023 shows an increase in total transaction amount by 9% and an increase in the volume of transactions by 14%. The number of daily transactions has also grown from around 60,000 in Q4 2022 to over 210,000 in Q1 2023.
This is a considerable uptick that indicates the increasing amount of trust that people place in CoinsPaid. These numbers demonstrate the company’s dedication to providing excellent services and customer experience, enabling clients to operate worldwide using reliable cryptocurrency processing services.
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