September 2018 Revenue Report & Analysis
October has just begun and as always at the beginning of each month, we’ve got our monthly revenue report and analysis. In this article, you’ll see Cryptopay’s total revenue, the amount distributed to token holders, and the revenue share (in euros) per 100 CPAY. After reading this article you’ll have a firm grasp of how our business performed in September and also our outlook for the near future.
Analysis
This past month Cryptopay’s revenue saw a downturn of 24% when looking at it against August’s numbers. All types of income from individual customers dropped at approximately this rate due to a lower volume of operations. We can likely attribute this due to the low level of volatility of BTC’s value in comparison to August 2018. Looking back at August we saw price fluctuations from $6,200 to $8,400. While in September the price was stable (relatively speaking) and it stayed in a corridor of $6,300 and $6,700. Our business model is based on a fixed commission attached to exchanges and other operations. Cryptopay doesn’t take any maintenance fees and doesn’t tack on any additional hidden charges on to exchange rates. As a result of this transparent model, when our customers choose to HODL instead of buying or selling our supported cryptocurrencies, such revenue drops are “a part of the game.” It’s safe to say that we are looking forward to the last few months of the year since they have historically proved to be extremely successful in regards to the value of BTC and altcoins.
The Numbers
Total September 2018 Revenue: € 82,262
September 2018 Revenue Share: € 8,226
Share per 100 CPAY: € 0.01
Distribution date: October 6th, 2018
Future Outlook
The B2B revenue was also on par with the rest of our operations in September 2018. It typically takes a substantial amount of time, as there is an “acceleration curve” to get our newly acquired merchants to open the valves with full force and begin to provide BTC payments facilitated by Cryptopay to all of their customers. Generally speaking, it takes around two months to launch the expected volumes with each newly acquired partner. Our team has been actively adding new clients to this service and they will be at the Malta Blockchain Summit and the World Travel Market Exhibitions.
One of our newest products, Buy Now, is doing well even though we haven’t launched an aggressive marketing campaign for it just yet. At this early stage in the product’s development, the volumes of BTC and ETH bought through our new service have still yet to make any significant headway into the company’s revenue. Having said this, we are more than pleased with how the dynamics of the product are working and they have surpassed the expectations that we had in the initial product plan. Meaning, if “Buy Now” continues to acquire customers at the same pace is has been it will become a sustainable income-generator for the company in less than six months.
We are happy to say that the first Russian prepaid cards have already been delivered to a select amount of customers and the final “street tests” will be concluded during this week. October will prove to be a very busy month for Cryptopay since we saw a significant interest in the Russian prepaid cards if we look at the number of preorders that were placed and the addition of some of the only prepaid cards available in the Russian Federation will affect our future revenue in a positive way. As for our European cards, we’ve been approved by one of the most reputable card issuers in the European Union and the long road to bringing back our hallmark product is nearing an end. We’ll continually update the community on our progress and you can take a look at our new card webpages to see all the limits and other features of our upcoming cards.
