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In an exclusive interview with cryptonews.com, Max Krupyshev, CEO of CoinsPaid, talks about crypto payment ecosystems, 2022 year in review, and trends to expect in 2023.
About Max Krupyshev
Max Krupyshev is the Co-Founder & CEO of the crypto payment ecosystem CoinsPaid, which is a market leader in terms of transaction volume. He is a serial entrepreneur with long-standing experience in developing fintech and crypto projects. Having entered the world of crypto in 2013, Max stood at the origins of this market in Ukraine, launching a Bitcoin Foundation to promote crypto adoption in the country. As the CEO of CoinsPaid, he sets the goal for the company to become the connecting link between crypto and traditional businesses.
Max Krupyshev gave a wide-ranging exclusive interview which you can see below, and we are happy for you to use it for publication provided there is a credit to www.cryptonews.com.
Highlights Of The Interview
- A year in review: what lessons did we learn from the failures of Terra, FTX, Celsius, BlockFi
- The trends to expect in 2023 in the field of crypto adoption and crypto payments
- Which countries can become the leaders in terms of crypto adoption in 2023
- Will the acceptance of crypto payments continue in the luxury industry in 2023
- Regulation and transparency – the crypto narrative of 2023
Full Transcript Of The Interview
Matt Zahab
Ladies and gentlemen, welcome back to the Cryptonews Podcast. We’re buzzing as always, it’s 2023, hope everyone has an incredible start to the New Year. And today we got Max Krupyshev, the co-founder and CEO of the crypto payment ecosystem CoinsPaid, which is a market leader in terms of transaction volume. Max is a serial entrepreneur with longstanding experience in developing FinTech and crypto projects. Max entered the world of crypto in 2013. And stood at the origins of this market in Ukraine launching a Bitcoin Foundation to promote crypto adoption in the country. As the CEO of CoinsPaid, Max sets the goal for the company to become the connecting link between crypto and traditional businesses. Super pumped to have this dude on Max, welcome to the show my friend.
Max Krupyshev
Thank you very much, Matt. Great intro. I appreciate it.
Matt Zahab
Hey, your team put it on a platter for me a nice little right handed layup with no. With no one in the way on the way to the hoop. So all good there. Max pumped to have you on man, you’re chilling in Berlin right now, that’s one city have never been to, always want it to go, what’s Berlin like?
Max Krupyshev
You should, I should say it’s a nice place. It’s very into international one, right? It’s not really like in like any other German places, right? It’s not like Munich, and so on. It’s very young, right? A lot of the people from all over the world, they’re coming here for the techno space for the startup space for the art space. Right. So sort of, like, completely different. If you ask people around what they like about Berlin, you will hear absolutely different things. But you should come. You should come for some conference or events just find a good reason I will show you around the city is amazing. Most of the people don’t like it from the first try. Alright, so potentially you have to stay at least for a week to sort of get into the details of the city. But in general, it’s big, but it’s it doesn’t really have the problems of the big city, it’s still spacious, it still no traffic jam, so you can move around and so on. In general, I would recommend a place to live in.
Matt Zahab
I mean, that’s a pretty good sales pitch for Berlin, I could align it. So what’s the crypto scene like in Berlin? Is it bumping at all?
Max Krupyshev
This is where I’m sort of course, everyone who is in Berlin doing some crypto crazy, nice, rocket science stuff will fade. But they sort of missing a beat, you know, of the scene here. There are of course, some bigger projects like the Polkadot are here. The guys from the Parity were here. The guys who were behind the Cerium launch, many of them were here, and I think still are right. So the amount of the projects here is quite a lot. But they just don’t see sort of the community which is meeting which is sort of chit chatting about crypto and so on. Right? I’m just asking and looking at it in the wrong places. Right. But I sort of hear that is amazing. Many people say oh, the best scene is for crypto is in Berlin. But when I’m for example, in Portugal, even in Portugal, I feel this is like much more things happening than in Berlin. But there are some cool projects here. Definitely. I just sort of don’t see them often around.
Matt Zahab
Interesting. Oh, Max may be able to grab the bull by the horns and fire off. You know, a crypto event series couldn’t hurt, right?
Max Krupyshev
Exactly. No, I think I think at some point, I probably would.
Matt Zahab
Yeah you could call it you know, FinTech Berlin.
Max Krupyshev
Oh, we have a chat live just like Bitcoin Berlin was around 100 plus people and basically everyone who is somehow involved in the crypto projects, and there are some cool guys there from the Fireblocks from Solarisbank. You know, they are sort of having quite a strong cryptocurrency department, right? And then basically offering the services. So we have a team, but they are not so much the party guys looks like but it’s a matter of inviting everyone. I agree with you.
Matt Zahab
When you guys pop it off, I will be there. So we’ll put that on the docket. Let’s by the time this episode airs, this will be very early 2023 Crazy to think it’s always tricky when end of December rolls around. And I always remember being a kid like the first couple of weeks in school, when I was actually writing, you know, the date on a piece of homework or a notepad or whatever. And I remember, you know, writing the new year, it was always trippy. So let’s, let’s take this opportunity. Let’s go back into 2020 to talk about really what happened. We entered 2022 with a bunch of steam, shit ton of momentum. And it stayed for what first couple months across the whole I would say in regards to crypto, you know, building companies B2B, NFTs. And then everything went to shit. We had Terra Luna, we had FTX, we had Celsius, we had BlockFi. Absolute bananas. How do you summarize 2022 If you could.
Max Krupyshev
It we all could defeat think that 2020 start at the bad then 2021 was a bit weird. And 2022 sort of shown us that 2020 and 2021 are not that bad. Yeah, I mean, it’s sort of I feel that crypto in the beginning of the year was already an inertia, right? I don’t think there were already like a push. But I think when people started speaking about crypto winter and sort of like Q1, Q2, honestly, I started sending in December last year, right. So to me, it was sort of clear that the momentum is gone already. Right. There is nothing to push really the industry the investment interests, the price and someone up, right. I mean, for me being Ukrainian, the craziness of the year started in the end of the February, right when the when Russia sort of started the war in Ukraine. We of course, have a lot of the people spread, I mean, employees, right spread between Russia, Belarus, and Ukraine. And right now, you, you see there is a lot of the movements that I don’t really respect, such as the hatred, right between Ukrainians, and Russians, and so on. But let’s not speak about this very deeply. Of course, we need to do a lot of activities first to relocate people, right? to places where they are potentially in danger. Right. And then also do some activities and statements as the company how we see all these evolving, right, what we think about Russian citizens, right? Because right now, you see that there is a lot of discrimination according to the Passport right, even for the people who might not believe in Russia not supporting going to be important the regime and so on. Right. So I don’t, I don’t really like you know, this hatred between people or so on. Right. I’m saying this as a Ukrainian as well. Right. And I’m sure that for this, a lot of Ukrainians will say, Max, are you crazy? What do you say? So yeah, it’s started, of course, with the war. I mean, we needed to do a lot as, as a company, right, and also supporting Ukraine fully with donations, charities and stuff. Then, of course, what started to happen in May, right, was the Luna? And, yeah, they sort of shown that the industry is not that established and stable, as we sort of thought it to be. Right speaking about this was one of the top of the CMC, right, Luna, I think we’re what in the top 20? I’m not sure if in the top 10, but it was cute. Yeah, it was. USD maybe was not that huge, right. But it was very sort of quickly growing. And, yeah, so it was sort of I think it was what May, may be started a bit in in April, there’s started some rumors that the market is in danger. And then May. May was easy. June was crazy. July sort of was a bit of the quietness, but there was still I think, the domino effect, right from Luna, because of course, anyone who were relying on USD, those funds who invested heavily in the Luna, and they sort of got wiped or wrecked how we say in the industry. And then basically, we saw that some other companies are closing like Celsius, right appear to be the day were not too ready for the decrease of the prices of the crypto right. So business models, which were sort of born and expecting crypto to grow forever. Many of them just completely closed their doors, some of them closed their doors and sort of nice way to saying sorry, guys, we don’t have money to provide you the service anymore. So we are closing down but your money are safe. And some of them closed. Sorry, guys, we already spent even your money that you’re sorry, guys, you’re screwed. Yeah, sorry, guys. We don’t have money at all, neither to operate business, neither to give you the money that that you put into our systems, investment protocols or whatever. So yeah, I mean, this was a domino effect. So I think during summer, I saw on some conferences, honestly, people were saying, Oh, this crypto winter will end in December. And I’m like, are you sure you should be on the stage?
Matt Zahab
Oh, that’s good. Hey, they have an agenda to you know, like if they’re, I don’t know if they have a fund or whatever the case may be their bias is through the roof. It helps them to let their consumers and people in network know that they think it’s going to rise otherwise why would you give someone money who you know, thinks a bear market is present or imminent? You know, its tough.
Max Krupyshev
Exactly. But this is also a bit of a problem, right? When people sort of try to push their business try to push their interests, right. But when they do, it’s sort of from the stage right for the people who sort of came to listen not about your business, right. But when you play as sort of an expert, right, so you feel need to give people some idea, no realistic projections and your experts opinion. Right? If this is, by the way, a problem that I see on many crypto conferences, which may be except of the top ones, that the lineup is the people who paid money to be on the stage to promote their business. Right. And I also like, I hate this right, and many events, unfortunately, are like that. Yeah. So anyways, I mean, there was, I mean, I don’t want to say that I was right, and everyone were wrong, right. But it looked like we don’t really have a reason to think that something will end, right. And if we speak about a beat, you know, like a helicopter view, looking on the economics of the world, right? We all know that the printing machine was on during 2020 and 2021. Of course, we see the inflation happening, I think, all over the world, right? You probably see this in Canada as well even feel it in Canada as well. And the governments had to impose a to increase the interest rates, right and increase in interest rates. So that usually doesn’t really help risky investments, right? Because people when they when professionals assess their investment opportunities, they sort of see what is the low-risk ones? And what is the returns for the low-risk ones. And I think one of the reasons why crypto got a lot of the money pumped into the ecosystem was the negative interest rates, that people just didn’t want to put money into the bonds or whatever. They didn’t want to put money just in the bank, because during the inflation and negative interest rates, doesn’t really work. You don’t really, you don’t really get anything extra, you just see how your $100 becoming less of the of the buying power, when the same amount of dollars. And people always try to sort of multiply money slightly. So crypto looked like a potentially good opportunity for investment. And then when the ball started rolling, like a snowball it start to get more and more attention. But right now, when we look what is happening right now, interest rates are getting higher. Alright, so people with the big money, they sort of think maybe we should pause a bit. Right. And usually when the government is increasing the interest rates, how they do right now, it’s sort of saying that the economy in the next year or two will not be doing great. Right.
Matt Zahab
It’s cooling down fellas, its cooling down.
Max Krupyshev
Exactly. It’s cooling down. So investments into start probably risky, investments into very speculative assets, also sort of a very risky bet, right? So we don’t, we don’t really have the momentum, right? We don’t really have any fundamental reasons for the crypto to suddenly skyrocket. So and then FTX crash, it’s sort of put a big red cross on all of us. So if in 2021, we were treated sometimes like superheroes, right? People who are creating the new world, new economy new, especially for the people who are recently in the space, right, who recently started to read about crypto. People with the real businesses in crypto were like, wow, what are you doing, guys? Right. And then, after FTX crash, it was like, everyone are looking on anyone in the Crypto Space like, a US Commerce.
Matt Zahab
Yeah. And now everyone looks at us as if we’re demonic. Everyone thinks we’re demons. Now, it’s like all you’re still in the space after all this turmoil? After all the people who got fucked, after all of this, and you’re still kicking, it’s like, hey, look, you know, we’re building we’re having fun. So long term play, there’s abs and flows than anything else in life. I’m sure people who were in the “.com” era in the early 2000s Probably got the same, you know, cloud over their head, where people were like, you really going to do this, you really going to work in the internet industry? In the web industry. You know what I mean? Now it’s like, well, I mean, who doesn’t use the internet every single day for at least a couple hours? I don’t know. Anyone. Only time will tell. Right?
Max Krupyshev
No, I don’t want to speculate that crypto is the new internet. Right? But definitely looks like right. So we sort of have relatively slow adoption, we’ll have some waves, right? And people who saw internet in 2002 things like Oh, internet was a rocket. Right? It sort of was gaining the attention from 2002. And I think I started using internet approximately 2003. Right. So I’m not an early adopter of the internet. But the internet existed years before, right? It was it was this email between the universities and saw what it started in the late 80s.
Matt Zahab
Yeah, way back.
Max Krupyshev
Exactly. It took many years, right really for the Internet to sort of get into homes. Right? So I mean, what I see right now, like in the Crypto Space and the I didn’t know that the industry now has so many names. It’s Web3, its Blockchain, Crypto Space, right. It’s, it’s for me, it’s hard to switch. You know, right now people like introducing me in the printer from the Web3 space. I’m like, I’m not doing anything in the Web3.
Matt Zahab
Crypto payments.
Max Krupyshev
Yeah, exactly.
Matt Zahab
Very interesting. But Max, that was that was a great little review and refresh of 2022. What a year. Let’s talk about 2023. Do you have any trends, or any hot subjects that you think will be in positive or negative light will sort of be the narrative of the industry in 2023?
Max Krupyshev
I think I have three in two of them. I’m pretty much sure. And the third, maybe not that much. I think this would be a lot about the transparency for the crypto currency companies, right? Any centralized platform now will have to be proving to the people to the community to the ones that they sort of know what they doing, right? Because, I mean, I think still, a lot of people will not understand what does it mean, right? I mean, most likely, and new users who are here for maybe quick money, and so on. So anyway, so I think this would be more about businesses have to prove that they are legit. And I think that we are might be getting sort of the consortium of the companies who are good, right? And those who play according to some weird rules, I still don’t see. Or maybe I’m just still not there. Right, the sort of like a very friendly, you know, group of companies who support each other again, you know, who just operate in the business, right? They always tend to see, there is like a group of American companies, the group of Asian companies, right, who sort of not very friendly with each other. And sort of when I saw the clash of FTX, and Binance, to me, it was a bit like that, right. It’s sort of East against West. So I think we will be getting there. There should be some independent group of people, right, who will be imposing maybe some sort of non-official regulation for the companies. Right. I think we will be getting there soon. The second one, I think this is regulation, right? This is becoming a big topic everywhere. I mean, it’s becoming
Matt Zahab
Has to happen.
Max Krupyshev
It’s becoming a big topic for a long time now. Right? As we are in Europe, we sort of follow the MiCA, right, which is the Pan-European Regulation. This is the market. What’s the I think investment or something and CA is the crypto assets. So they finally added the word cryptocurrency assets, right? Because this was like mutual assets, or so on digital assets, and so on. So this is now crypto assets. So there will be a Pan-European Regulation, which I think will make things better for existing companies, but might make things harder for the new startups, right, because this is sort of a proper financial regulation. Right. So for any startup, who is now entering the centralized space, this would be quite a thing that they have to comply before being able to provide any services to the public, or to the businesses. So these are two things, which I think are inevitable, right, they will be happening. Then I heard someone from the BlackRock saying about tokenization of securities. Right. So and I sort of tend to like the idea, right, that the next crypto spring, right might be around tokenization of securities, right? So people will be using their Web3 wallets, right to own physical things. Right. So I think this is what we achieved, sort of with the Stablecoins, because if you think about them, they are tokenized securities right already. I mean, we might be arguing about regulations and how they are regulated, how they are audited, and so on. But I think the next sort of bigger wave might be that you will be owning your physical goods by owning the tokens of these physical goods. It might also have space for NFTssort of revised slide, right. So because NFTs right now, for most of the people is art. Right? There’s pictures. Yeah. And I don’t think this is the best utilization of the NFT technology. Right. So I think when we are able to own land, house car and where are the real estate piece, real world assets? Yeah, it’s just a piece of real estate for you example. This is something that will that will change the space a lot and give people understanding what is real utilization of this of this Blockchain things, right? Because many people are skeptical about crypto, about Blockchain, because they like, what does it bring to the world? Right? What is what is really? Which problem? Are you guys really solving? Right? And when you start explaining, what are you solving, they’re like, this is not really needed. Or this is more like for the, for the gray area businesses and so on. And when you say that this is about freedom, they say, but you know, freedom is not very good, because it’s like, then how you do ML. So this is still you know, a topic which is unsolvable.
Matt Zahab
Those are great little great predictions, though. I love those. And that was a great segue into the next point, I’d love to go over which is the massive increase in crypto payments this year, or 2022. And obviously, it’s going to be buzzing in 2023. And more specifically, the luxury goods industry, tons of luxury watch dealers, and yachts and homes, haute couture you name it. It’s been widely accepted. And they are now understanding that a lot of wealthy people made money via crypto and they want to spend it and they don’t want to cash out but until then, we got a huge shout out to our sponsor the show that is PrimeXBT. We love PrimeXBT as they offer a robust trading system for both beginners and professional traders. Doesn’t matter if you’re a rookie or that you can easily design and customize your layouts and widgets to best fit your trading style prime expertise also, running an exclusive promo for listeners of the Cryptonews Podcast. Use the promo code CRYPTONEWS50. That is CRYPTONEWS50 to receive 50% of your deposit credited to your trading account. Again, use the promo code CRYPTONEWS50 to receive 50% of your deposit credited to your trading account. Back to the show. Max, the luxury goods industry to an absolute craziness as someone who runs and manages one of the largest payment processors that is the crypto payment processor. What do we have in store for the next couple of years in regards to luxury goods? Is the momentum just gonna keep balling. And are we gonna keep buzzing in this regard? What’s your prediction?
Max Krupyshev
Yeah, I like first of what I see that right now the adoption of crypto in e-commerce, right? So any online businesses setting anything for crypto? Right? We all know that it started with drugs, but it’s not the secret trades. It started purely with drugs. Many people say that Bitcoin survived through 2010 2011 only because of the Silk Road. I don’t want to argue about that. But this is how it happened. Right now in majority of the payments for everyone who is dealing with the payments in crypto. Right now the main consumer of the crypto payments, and this is proven on the Chain Analysis, Crystal Blockchain and all the analytics is gaming. Right? I’m not speaking only about video games. I also speaking about sports betting right, which is true, which is treated as entertainment. Yeah. And also casino game. All right. We also see adoption from the eSport. Right, so eSports trading of the of different items. And also eSports, betting right on the games on the tournaments for the PUBG, DOTA, and some other games, right. I’m not a big gamer myself. So this is where we are right now. All the hype in the luxury goods. I mostly connected with the hype that was happening last year. Right. So I think all the loud announcement that we heard during 2021 and beginning of 2022 was mostly because they were willing to gain attention from this 300 Millions of crypto users, right, right because people were crazy about crypto and basically whatever you as a big brand do all the newspapers all the like everyone are happy to post that Burberry now accepts Bitcoin, right? Or Versace or Gucci or whatever. Right? Everybody laughed at the content and that is why we all heard about that. Yeah. In reality, they are not pro crypto pro blockchain, right. In reality, they just wanted the attention from potential users, right? And of course on the hype of crypto, many people made money on crypto, why not buy why not start buying luxury goods? Right. So this is sort of logical. I don’t say it’s good. I don’t say it’s bad. I just feel this was the reasoning right.
Matt Zahab
Do you think that a lot of people buy luxury goods because it’s very easy way to not launder money, I believe that’s the wrong term, but to not pay taxes on that?
Max Krupyshev
Potentially yeah. People who made money on device on tradings, right, and so on, they have this money in USDT.
Matt Zahab
And you have to offboard it somehow. So what do you do, right? It’s like, well, you could buy a Rolex. And now you have Rolex, which you can then sell for cash. You know, and like, realistically, who’s gonna know at the end of the day?
Max Krupyshev
This is basically the thing which I was saying about crypto when you speak with the people from the real-world economy, right? They start asking questions, why would Rolex accept crypto as a payment method? And you say, because people are willing to pay? And they like the Why didn’t you say because they earned money in crypto on trading, or whatever they look, why don’t they sell it and withdraw to the bank account? And then you say, they just don’t want the attention from the government, right from their banks, explaining how they did it and so on. But in the end of the day, right, we are entering the gray space. Right. And this is, this is something which is without the regulation, right, where all the sort of majority of the crypto, which is their existing and so on, they have some sort of source, right? If you traded on the crypto exchange, this crypto exchange has to submit information about you to the Tax Office. Yeah, right, in the end of the day, right. And that is why regulation is good to protect the customers, right. But it’s also very good for the governments and the tax offices to sort of to do their job. And this clash, is extremely interesting, right? Because this sort of, again, gives a red cross on many ways why crypto was used in the first place? Yeah. And it’s mostly why for the speed, right? And for the and transparency from the FBI and from the financial system. Right? This the whole Bitcoin idea, you own your money. Right, you are your own bank. Right? It was stated? I mean, I’m just rephrasing what was in the original document from Satoshi Nakamoto. Now, right, if this was the general idea why we need crypto in the first place. Now, when we all became older, and more clever, right, we understand that being your own bank is illegal. In the end of the day, right now, when we think about the person was trading cryptocurrencies, on some exchanges, or on the Web3, DeFi and whatever, and they made money in Bitcoin in USDT, in USDC or whatever. And now she buys Rolexes he is laundering money.
Matt Zahab
There you have you it.
Max Krupyshev
See how we ended up.
Matt Zahab
Yeah, now it’s true. It is. It’s unfortunate, because that’s such that’s one of the base narratives of space.
Max Krupyshev
Yeah. So owning your own money is not is not okay. Looks like according to all of the regulators, right? And I’m not such a big visionary to understand how this all will end up. Right? We understand that people who, for example, play, do sports betting, right? In many places in the world, right? This might not be completely legal, right. But people still want to watch the game, right than for them watching the game is more interesting. If they bet, I don’t know, 20 bucks on the team that they like. And basically, Cryptocurrency for them is like a VPN, right? It’s like a browser, right? With the VPN and the browser, you can access any content from the world, right? And crypto is just a tool that gives you the ability to pay to anyone in the world. Right? I mean, saying that VPN is illegal, is also one way to look at the things right, because why people would be using VPN, not to enter the 2FA while accessing the Facebook. Really not the real reason that we all would believe right there to I don’t know to visit some websites, which are only available for this sort of the country, right? And why it’s only for that sort of the country, many reasons, right? Or if they want to hide their real IP, from whom and why. Right. Those are many questions. Right. And basically, those questions are also fair for the crypto unfortunately. Right and then and here, Cryptocurrency is a great instrument that really gives you the freedom to use your funds right? I mean, okay, so I want to say that if you earn this money in literally illegal way, right, I mean, selling drugs to kids, or selling people or whatever, I judge it right. But if you if you earned this money like you did some services for someone over the internet right or you, I didn’t know you traded Cryptocurrencies on decentralized exchanges, right? Or you landed some money on some lending protocols and so on, and you earn them. I think this is a fair way to earn money, right? I don’t think this is bad or illegal or whatever. And right now, when you use these funds to pay for, for anything in the world, you sort of should have the right to do so. But here, the question about showing your income, and the Texas this is still the thing, which is not clear how people from all over the world maybe who travel a lot, right? who live in the countryside. Now how many people live in Indonesia, right, without becoming the text residence, and of Indonesia, and so on. These are all very good questions from the from the connection with the gray space. And I’m officially not, to me, it’s not clear what is really the way to go here.
Matt Zahab
It’s tough. And only time will tell. Max, let’s jump into the payment processing crypto payments. Obviously, that’s you and the team’s bread and butter. If I had a business, and let’s say I was doing something rather common like e-commerce, and I wanted to adopt crypto payments, I wanted to have a payment processor on my website. I wanted to use CoinsPaid, how do I get set up? How easy is it to give me the steps and walk me through it as if I’m, you know, a new customer of yours who just finished the onboarding process. And it’s time to actually get my payment processor set up on my website.
Max Krupyshev
Now? Yep. So it’s basically the same flow that you would have with any other means of receiving the payments, right? Usually, the first thing is to find and select the provider that you like, right? Ours is cryptoprocessing.com. Right? So if you’re looking cryptoprocessing, maybe you will Google and just find us, basically, then you just feel fill in the short form on the website, right? Or maybe someone introduced you to ask you clarify some questions. And you do the KYC. Right. So you as a company provide us the documents, so that we can sign an agreement on us providing you the services, right, this is obligatory, this is a regulation and the common sense we need to understand with whom our work as soon as the agreement is signed, and we asked all the questions to each other, which we wanted to ask and had to ask, you get the back office, right? If you are B2B platform, right? And you had to know you sell jets, right? You sell jets. And I don’t think that you sell 100 jets a day, you probably sell. If you do great, you sell one jet a day. Right. And for one jet a day, your financial manager might just use the back office, right? You don’t need the deep API integration. If you are the shop, which sells hundreds of goods a day, you will be doing API integration. And here, it depends if your payment aggregator that you are using at the moment has us integrated already. You just insert the API keys in their back office. And it’s up and running. Right if suddenly, you don’t use anyone, right, and to integrate payment solutions on our own. We have the integration team. This is basically a team of UX specialists and the X developers, basically, who will help your developers to set up a best flow and integrate it into your business model. Right? Business models are different, right? So we have different souls for different ones. But in the end, this is onboarding, which includes the KYC and signing of agreement and integration. After that you have an account manager, who is basically your support questions, developments, guy or lady that you can speak basically, any time of the day and night will have 24/7 account managers, right. So you will have one dedicated, but if you need help during the night or whatever, you always will have a way to email or to write in the chat. You basically get support and attention that you craving.
Matt Zahab
So it’s really it’s a cakewalk. Super easy to sign up. Very easy to get paid in crypto, and the rest is takes care of itself.
Max Krupyshev
Yeah, I just want to add, basically, so the processes is very simple. Many people are asking question like, is it really safe to work with crypto, right? They usually ask questions like what if it is a double spend? And what if the price of crypto changes? We basically shielding from all the risks. There are not only two that people are usually curious about right so we can have offset the price of crypto instantly and we usually do that, right? I mean, for example, if you selling computers for Bitcoin, and you have prices in Bitcoin, right, and you want to sell Bitcoin, of course we don’t convert, right? Because you don’t need it, right? You’re just a person who accumulates Bitcoin while selling computers. But majority of the merchants are not like that, right? They sell computers for Dollars or for Euros. And they, of course, need to sell computer for the exact amount of dollar. This is what we write. So we help to receive different variety of assets on different Blockchains. But we immediately converted to the currency that you need.
Matt Zahab
I mean, that’s huge. And you guys have one example? Well, I’m sure you have more than one. But in the research that I did, I saw one example. And that was with, it’s funny, you used a jet company for me, but you guys actually did partner with the jet company that was Mire flights, and the revenue increased by 30% After adding a crypto payment option. Again, if and I have no affiliation with CoinsPaid, I have no affiliation with any company currently in the payment processing space. I like crypto, it just seems like a no brainer. There’re people like myself, who would sometimes love to pay and Tether that’s, you know, waiting for an opportunity. I really just don’t get it. It’s such a no brainer, the costs are so low, that the fees are so low on the on the merchants and I get the fudd I get the you know, the objections that came up. Many that you just handled in regards to price fluctuations or double spend. But this just seems like such a no brainer, right? It seems like the same businesses where you walk in and they’re like, Oh, well, you know, it’s cash only. It’s like, okay, well, you guys are like, what is this Mafia, you know, money law, what do you there’s got to be something every and then on the flip side, there’s businesses where it’s like, there’s so many now where it’s card-only. There’s cashless, and it’s just if you can, why not give as many opportunities as possible for people to pay? I really don’t get it.
Max Krupyshev
This is the case that this is the geographical thing. Right? So in different places in the world, there are different rules of the game. Yeah. But for international business, a company or website that sells to many different countries, I think adopting a common language for the payments and internet, which is cryptocurrency at the moment, right? This is the only real way that is accepted in all of the currencies in the world, right? Small amount of merchants. But you can buy crypto in any country in the world. And you can spend crypto at least somewhere in pretty much any country in the world. Right? And basically, this is becoming a money of the internet, right? And it was invented to become a money of the internet. So yes, and what you said basically, I was in Stockholm just two weeks ago. And they have this the currency SEK. Right, which is Cronus. I think. Swedish Krona. I haven’t seen any money. During the week there. I haven’t seen money. Everyone are paying with the cards was the phones and or Apple Watch. Right? I haven’t seen money for a week in Germany, yesterday, went to buy flowers in Berlin. I went in two places. The first one just said, we don’t accept anything but cash. So on the “nur bares”, it’s in Germany. So only cash and I was like, Okay, I went home, grabbed some cash and went to a to another place to find out that they also accept only cash, but now I have cash. All right. So you cannot just go around in Berlin only with your phone, but you absolutely can in Sweden. How far is Sweden from Germany in the mind? Of the of the Canadian gentleman? There should be the same, right? They are nearby. They are in Europe, they are sort of the same level of I don’t know, development and whatever. Those are completely different countries in the terms how people treat money, how they pay, and so on. So yeah, I mean, you’re completely right. There is no certain rule for the for the local businesses all around the globe. But for really international ones, right, who sell too many, mostly for services. Right? That is why I see a lot of traction from entertainment. They’re usually very global. Right? We see this for the luxury. We see this for the travel because they’re also very global. Right if you need to buy the tickets, I know if you’re planning your trip through Asia, you probably will not be doing this particularly through Canadian website because they are probably not specializing on there they might not have some local airlines that are flying from through Philippines right. So you will be going there right and if they if they accept crypto it makes it easier for everyone across the globe to just pay them in USDT.
Matt Zahab
Right. Keeps everyone happy, no, it’s very true. Max this has been an absolute treat man really appreciate you coming on last segment of the show here. Hot take factory if you have any hot takes that you’d love to throw out into the open air it doesn’t have to be crypto related can be sports, politics, food, geography, space, AI, you name it. Anything that gets you excited or makes you irked that, perhaps only you believe in that most others do not.
Max Krupyshev
You said about AI and the moon and my wife, right and right now is crazy about AI, with the pictures with the right in text with generating ideas and so on. I think this is something that we all have to dig deeper in. We are right now sort of missing the start, where many professions might go obsolete in the next one, two years. Right. Those are the copywriters, those that may be creative people. Those are developers for some really simple tools or algorithms. Basically what I see right now AI doing drawing, right and in giving you the concepts, the visual ones, or the ideas or the text, I mean, it’s sort of starting right I mean, I haven’t heard a lot about AI really creating stuff a year ago. So I think this is something that we all have to embrace very soon. And understand basically how we can be using this to optimize our everyday life our questioning, I don’t know asking Google and so on looks like we can use AI for for many of those things. And they will be replacing I think a lot of the jobs in the next year. Not only drivers, but also artists potential.
Matt Zahab
Yeah, well said Max, what a treat man. Thanks again. Appreciate it. Before you go, can you please let our listeners know where they can find you and CoinsPaid online and on socials?
Max Krupyshev
Yes, so. Great. So my name is Max Krupyshev, I don’t know you probably will have the name of the podcast. This is a very rare last name. So if you Google me it’s only me. I mean, even the last name not the first one. So you can find me everywhere. I’m on Instagram, on Facebook, on LinkedIn and on Telegram. Pretty much the handle everywhere is the same so if you like to chat create some have some business idea exchange of business ideas or have some collaboration I would be glad to our websites are coinspace.com and cryptoprocessing.com one being more for like a company website. The second one is more like a business website. And yet would be glad if our speech was here useful and if you have some ideas to exchange or even connect your businesses to accept crypto to embrace this new economy would be glad to route you in the correct to the correct sales manager on our site.
Matt Zahab
What a pitch. Love that Max. Thanks a lot, man. Really appreciate it.
Max Krupyshev
Thanks a lot Matt and chat everyone have a great year.
Matt Zahab
Folks what an epi from Max Krupyshev, co-founder and CEO of crypto payment ecosystem CoinsPaid do go check them out if you are looking to have crypto payment processing on your website . What a great episode with Max I really hope you guys enjoyed this one. Shout out the team love you guys so much thanks for everything you do you. Justas, my amazing sound editor appreciate you man and the listeners love you guys keep on growing those bags. Keep on staying healthy, wealthy and happy. And let’s build some momentum in this lovely start to 2023. Let’s get after it all the best. We’ll talk soon.
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