We’re bringing you the February report, which means that winter is now truly over. And what a fruitful winter it has been! Let’s look at the numbers:
Total February 2021 revenue: € 1,304,913
February 2021 Revenue share: € 130,491
Share per 100 CPAY: € 0.144
February 2021 Revenue share in ETH: 84.7907 ETH
Distribution date: March 10th, 2021
In the world of cryptocurrencies, a week is a long time. One day BTC trades at $57k and the next thing you know it plunges down to $45K, leaving hodlers hot and bothered. But the coin bounces back quickly and is now ready to continue where it left off, making its way to the earlier unimagined $60K.
Not everyone shares the enthusiasm, though, as Bitcoin is deemed bad for the environment. A recent analysis by Cambridge University shows that mining uses more electricity annually than Argentina — around 121.36 terawatt-hours (TWh) a year.
According to Michel Rauchs, a researcher at The Cambridge Centre for Alternative Finance and the man behind the online tool that generates the estimates, this is not something that will change in the nearest future “unless the Bitcoin price is going to significantly go down.” “It is really by design that Bitcoin consumes that much electricity”.
But it seems that as the world of traditional finance is getting more accepting of crypto, this possibility becomes more and more unrealistic, which means that we have another conflict of interest on our hands. Might solar-power crypto mining be the answer? Hard to say but at some point, society will have to inject responsibility into the mining enterprise after all.
In comparison with January 2021, B2B revenue decreased by 5%. Were it not for the fact that February is three days shorter than January, we would have probably even enjoyed a moderate increase in revenue.
The team has been largely concentrating on improving the infrastructure of the product to make it even safer and more secure. This includes both internal development and partnership agreements with various services to ensure interoperability and stability.
On the other hand, it was an extraordinary month for B2C. Both the card programme and card deposit figures are up 15%, while Wallet and exchange operations grew by approximately 14%.
The first two are quite obvious: more clients, more cards, more operations and a higher average customer spend — slowly but surely, that’s the way to succeed.
In the case of the Wallet, it’s a bit more complicated. The growth in this direction is not so much due to a corresponding change in turnover and number of users. Rather, it can be attributed to the additional income generated from managing the company’s own funds in different currencies.
So, at this point, B2C growth cannot yet be considered systematic, and we’d warn against building expectations on the trend of the last few months.
At the same time, we’re actively working on improving our platform to make it more user-friendly — something that we’re sure will attract new customers and make the existing ones a bit happier.
Do you already know how to make Cryptopay a better place for you? Share your vision at https://t.me/cryptopayofficial or contact us in our live chat. Always a pleasure when you get in touch 😉