COINS by Coinpaprika - App Store for Cryptocurrencies?
Meet Paul. Paul is a cryptocurrency investor. He’s always looking to find undiscovered coins.
Meet Paul. Paul is a cryptocurrency investor. He’s always looking for undiscovered coins. It's 8 pm, and he’s sitting relaxed in his cozy clothes getting ready to find new opportunities. The last movements proved that he has to react quickly if he wants to earn some nice gains. In order to research new coins, he doesn’t go to his exchange, as his exchange lists only Bitcoin, Ethereum and other widely known cryptocurrencies, instead, he visits cryptocurrency ranking services. Scrolling down the top gainers of the day, few gems are looking pretty interesting for him. Those coins are far behind the top 100 so he knows that it won’t be a piece of cake to acquire them. He will have to register on some shady exchanges, transfer his funds there, and after that, find a dedicated wallet for that asset. But what if he could buy & store that coin using only the first website he visits - the cryptocurrency ranking platform.
Investing in cryptocurrency with 2 clicks?
Well, It's happening actually. A direct competitor to CoinMarketCap, cryptocurrency research platform Coinpaprika.com, project that stormed the list of some of the most visited platforms on the crypto space within the last 9 months, is launching a brand new product, that as they say will bring the process of acquiring crypto assets to the whole new level. Meet COINS - your one app for crypto. It is meant to be built around 4 core functionalities:
- Crypto research platform with over 2500 coins and 300 exchanges;
- Built-in wallet with secured storage of the funds;
- Easy, 2 click option to invest in any supported cryptocurrency;
- Intuitive portfolio manager to track your best-performing assets.
People who built Coinpaprika proved that building a platform visited nearly 1,5 M times every month, within just one year, is possible. From May 2018 they achieved a 536% growth in visitors, all of that being done in a deep bear market. Their team has over 10 years of experience in building sophisticated IT platforms and protecting them. They were the creators of OLX.pl, one of the biggest European tech unicorns. They also founded the Grey Wizard company which helps hundreds of clients around the globe in protecting their platforms. Right now they employ 16 full-time employees. (you can read more about it on their downloadable deck on coins.coinpaprika.com)
One app for crypto means a possibility to exchange every crypto
Decentralization is a great thing when it comes to building blockchain solutions, but it's quite uneasy when it comes to investing, especially buying cryptocurrencies in a fast emerging environment, as a retail investor. You may find a great coin with great fundamentals, but when you're about to buy it, you’ll find a lot of obstacles on your path: that it is only listed on one exchange, and you need another coin to buy it because that exchange support only it's own token as a basic currency. Additional KYC, few markets that you'll have to go through and a lot of fees that will take part of your profit throughout the way. And, what's most important it also consumes a lot of time, and as we all know, a lot can happen within the 24h timeframe, especially in crypto space. You shouldn't be exposed to such risk. By registering on COINS you only have to do one KYC and after that, you are automatically able to buy any supported coin straight away. With just 2 clicks.
Not your keys, not your crypto
A recent story of QuadrigaCX shows us that as much as it sounds comfortable to store your crypto assets directly on an exchange, it's absolutely dangerous, and should not be encouraged in any kind. Only by having your private key, you are 100% sure that the cryptocurrencies are stored safely on the blockchain. COINS lets you stay cool around this topic. COINS is only the interface, because whenever you make a transaction or the swap you have to sign the transaction just as you would do if you wanted to move the assets out of your offline wallet. COINS lets you receive, send or exchange your cryptocurrencies directly from the app. Simple as it sounds.
Layers of COINS - the tech core
When speaking about the tech used around COINS, we need to differentiate 3 layers that are going to work together simultaneously. First one is the multi wallet. It’s going to be built around the Trust Wallet Core. To make sure that all your assets are safe, all outcoming transactions will have to be confirmed by your biometrics. Above that layer, the Coins Swap Platform will operate. It is COINS's original solution, which allows to immediately exchange different cryptocurrencies into one or another. Coins Swap Platform will be connected with many different providers to ensure that the exchange rate is always the most profitable. And coming to the 3rd layer, on top of that, Grey Wizard, the cybersecurity company will make sure that no breaches will ever occur. The qualified security specialists monitor every suspicious movement and shut it down even before it has a chance to inflict any harm. The best quality tech provided by those 3 sources combined, make sure that the app itself will be secure, cheap to use and always reliable.
So is the app ready to use?
Not yet. The app is being developed right now. Release date will be on Q3 2019. As they say for themselves:
"We are looking for 4,7m USD in Series A round right now to deliver the product and start the marketing, in August 2020 we plan Series B to scale it. But above all, we are looking for strategic investors that we can learn from."
On coins.coinpaprika.com you can download their deck for investors as well as register to be one of the first users for COINS.
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