CoinsPaid Shows Steady 67% Growth Despite Crypto Challenges

CoinsPaid, an international crypto payment ecosystem, has experienced substantial growth, even amid the challenges faced by the broader cryptocurrency market in 2022. Crowe DNW Ltd, part of the Crowe Global network, recently verified this growth through an annual financial review.

In 2022, despite major setbacks in the crypto world such as the challenges faced by the Terra network and FTX exchange, CoinsPaid remained largely unaffected. The company marked a notable 67% growth in its revenue from 2021 and reported a 32% surge in net profitability. Interestingly, the company’s Return on Assets (ROA) also rose by 5.84% compared to 2021.

Such resilience indicates that CoinsPaid not only successfully weathered the downturns in the crypto market but also capitalized on the opportunities. Going by the numbers, it’s evident that a decrease in investor confidence in the broader crypto sector did not dent CoinsPaid’s trajectory.

Eyeing the future, CoinsPaid is poised for expansion. The company aims to diversify its service offerings and introduce more payment methods. Additionally, the adoption of modern risk management techniques is on the horizon. These changes anticipate boosting the firm’s profitability even further.

What’s reassuring for stakeholders is that the independent audit by Crowe attests to CoinsPaid’s stability and adherence to regulatory requirements in the volatile cryptocurrency sector.

Max Krupyshev, CEO of CoinsPaid, voiced his thoughts on the company’s performance:

“Our team worked diligently and productively under a harsh business environment, and these efforts are reflected in the positive results that we’ve achieved in the fiscal year 2022. Even amidst market turmoil and events that can greatly affect the price of Bitcoin and other digital assets, people continue to conduct their transactions. This means that our business gets to avoid the harshest backlash of such downtimes. We are deeply grateful to our clients for their continued support and intend to deliver even better performance going forward.”

With over nine years of crypto experience and catering to over 800 merchant accounts, CoinsPaid remains a dominant player in crypto payment solutions, licensed in the EU.