Despite the recent uptick in momentum for the crypto industry, there is still a severe learning curve involved with understanding how to buy, protect, and use virtual currencies. This is largely due to the vast amount of information and misinformation on the market, coupled with the fact that the technology is still nascent. Thankfully, there are companies dedicated to bridging this gap and helping onboard the next generation of crypto traders and users.
In 2014, Bit2Me was founded to resolve many of these issues and promote secure adoption of cryptocurrencies while facilitating its exchange without any barriers. The need for such a solution is supported by the fact that the team began with just 150 euros and now processes over 70M euros in transactions per month.
A primary objective of the company is to enhance financial freedom and accessibility to cryptographic technology on a transparent platform. This includes helping improve the lives of its users, who have access to an entire suite of products and services. The company focuses on both newcomers and experienced crypto users by providing simple solutions and consistent support. Its solutions are all about speed and convenience. "Our long-term goal is for every single citizen of the world to obtain at least 300 euros worth of Bitcoin, and we won't stop until we achieve that," says Andrei Manuel, COO of Bit2Me.
The primary product of Bit2Me is the Bit2Me wallet. It is equipped with a fiat on/off ramp, providing every user with immediate access to purchase, sell, and trade their cryptocurrencies. To simplify the process, bank transfers and credit card purchases are permitted. Currently, more than 20 digital coins are supported on the platform and more digital currencies are being added on a constant basis.
Another aspect of Bit2Me is its focus on security. The company has a three-prong approach to security. First, educating its users. Through its academy, Bit2Me has educated over 1.7 million people in 2020 alone. Essentially, the academy functions as an e-learning platform that leverages a verified bibliography and experts in the industry to formulate different learning materials, such as videos, articles and step-by-step guides. The company also formulates tailor-made programs for institutions, governmental agencies and NGOs looking to educate their staff. The second aspect of security involves ensuring optimal standards for every consumer product. Finally, every asset that falls under their administration goes through a complex security program that involves hot/cold wallets, as well as custody solutions.
While catering to the various needs of new users, Bit2Me also understands the requirements of experienced users who are more detail-oriented. To handle their needs, the team facilitates high frequency exchange with holistic features. It enables deep liquidity with Market, Limit, and Stop Limit orders. Experienced users can leverage various strategies and seamlessly move funds from their Wallet to Trade and vice versa. Furthermore, with Bit2Me, they can set parameters for engaging in complex trading strategies.
Regarding funding, Bit2Me provides Debit Cards that bridge the gap between traditional forms of remittance. For select merchants, users can also enjoy the benefits of a rebate program. The company's focus on ease of use has led to impressive results.
"Our OTC desk provides personalized service and facilitates flexible dealing, therefore augmenting the company's market position over time. To date, our clients generated OTC trade volumes of over 50 million euros. Each month, we are adding five new clients, and the minimum size of each deal that we handle is valued at 150.000 euros," Manuel adds. "Some of our most notable milestones include transacting 2000+ million euros and seeing 1200% growth in volume by 2020 over 2019. In order to continue this exceptional growth, we will continue to offer the best possible service to existing customers," Manuel concludes.
The business model that the company has relied on to bring about this transformation is incredibly simple. Essentially, the team works on creating a community that is crypto-friendly through consistent training and maintenance. Apart from its Academy feature, this is accomplished by engaging its 180,000 registered web suite users and Tikebit, which is an initiative involving over 250 street-level shops. TikeBit allows clients to purchase Bitcoin in exchange for fiat currencies. There are no deposit fees when using credit cards, Tikebit, or bank transfers. The result is that users have an easy option for getting active in crypto.
For OTC transactions, Bit2Me makes money by charging a small fee ranging from 1.5% - 2.5% for each web operation, 0.8% -1.3% for each OTC transaction, and 2.5% commission for each Tikebit transaction. A commission is also sought on each card issued and consumed.
Currently, the company targets those who want to learn more about cryptocurrencies or blockchain technology and those who want to explore alternative options for their savings without resorting to traditional financial systems. "With substantial popularity in Spain and clients in 110 countries so far, we plan to use our potential to cultivate our popularity in other parts of the world", concludes Koh Onozawa Bit2Me's VP of Expansion.
