Obstacles Crypto Firms Face and What Swapin Tells Doubters
To exchange CEO Evald Hannes Kree explains why the future of the crypto industry is still bright and how businesses and individuals can alleviate concerns surrounding crypto with innovative Swapin solutions.
His concerns come amid high skepticism surrounding the crypto market and low confidence.
What is Swapin for those who don’t know it yet? How do you differentiate yourself from your main competitors?
To exchange is a leading, licensed and regulated crypto-fiat payment provider in Europe. All Swapin B2B and B2C products and services instantly convert crypto assets into GBP or EUR and deposit them into a bank account. Popular tools include InstaPay, InstaFill, CoinCollector, and E-Com Widget.
Swapin is a super-fast crypto-fiat payment solution for individuals and businesses. Customers can use it to easily send money to friends and family or pay a dentist’s bill, for example. Swapin connects Web3 wallets and other types of crypto wallets you control with any bank account.
We also help businesses accept crypto and place fiat money in their bank account. Businesses do not need to hold crypto assets themselves, which is attractive to companies reluctant to enter the crypto space.
Can you describe the average Swapin crypto payment user?
The average Swapin user is also the ideal crypto user and is an EU resident with a SEPA bank account in EUR or GBP.
The majority of Swapin users earn regular cryptocurrency income through mining, GameFi, staking, trading, NFT art, or even salaries, but they have to spend that income in the real world .
Another growing segment of Swapin users are wealthy crypto holders looking to use their large digital assets to make big-ticket purchases like real estate, automobiles, fine jewelry, and more. They need a solution that makes paying in crypto fast and secure.
What about in the B2B realm, who are the early adopters of crypto in your ecosystem? What about slow users, what stops them from offering/accepting crypto payments?
The earliest crypto adopters at Swapin are businesses that want to trade crypto for themselves or pay salaries with crypto. Typically, these companies have a revenue model based on digital assets ranging from small and medium-sized fintech companies to startups.
Big companies are notoriously slow to adopt new technologies like crypto, which is good – traditional companies are more risky and often hesitant due to distrust of the crypto industry. However, we know that crypto is the future of finance, so until it becomes more acceptable in the traditional setting, Swapin will become the missing link between the two worlds.
For example, SwapinCollect is for traditional offline invoice-based businesses, such as large purchases like real estate, yachts, exotic cars, luxury watches, and more. Meanwhile, the E-Com solution helps business customers pay via crypto using a convenient payment widget.
If you had to describe the perfect crypto market (in terms of crypto user adoption, regulator stance, local authorities’ view on crypto, etc.), what would it look like?
Like all markets with integrity, the crypto market should be well regulated with strict guidelines for businesses and individuals to follow, but without stifling innovation. Customers and businesses need to feel safe and protected by the right entities while allowing brave new technologies and solutions to thrive.
Suppose that many banks will start offering crypto products and services. How can crypto providers compete with them and what are their strengths?
Unfortunately, the traditional bank is inflexible and does not pay much attention to making a product a convenient tool for customers. This is where crypto-fiat payment providers can lend a hand to users, providing them with an innovative and tailor-made solution.
For example, Swapin has been in business since 2017, and our highly experienced team helps us better understand our customers’ unique needs and develop a reliable and necessary solution.
Users need a reliable and instant solution to connect popular cryptocurrencies to a bank account to facilitate the seamless transfer of fiat. By combining crypto with traditional banking services, crypto users have the ability to pay from anywhere, for anything, with the lowest possible fees.
What are the main features you are personally excited about in crypto payments? How will you convince skeptics to join the crypto train?
The Swapin team is full of crypto enthusiasts who have been involved in crypto for many years, some since its inception. Compared to typical international payment solutions, the lure of fast, borderless transactions with ultra-low fees was impossible to ignore.
As lifelong crypto users, Swapin has witnessed many boom and bust cycles in crypto, and our passion remains the same. For the skeptics, we recommend that you learn more about the technology, and soon, like the Swapin team, you will realize the incredible opportunity and potential it holds.
About Evald-Hannes Kree
Swapin founder and CEO Evald-Hannes Kree is an early adopter and crypto enthusiast, now developing innovative crypto-fiat payment solutions.
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