It was fascinating to hear Sara talk about how people from all age groups in the Dominican Republic, even grandmothers, are investing in crypto. One of the main reasons for this is the weak local fiat currency, the Dominican Peso (DOP), which has lost more than 50% of its value against the USD since 2004. Additionally, the potential of cryptocurrencies, despite the high risks, has made them an appealing investment choice for many locals.
After following Sara on Twitter (@crypgurl) and Instagram, I saw that she had traveled across Europe, the U.S., and South America during an extended summer vacation. From Barcelona to Ibiza, Madrid, Miami, New York, and then on to South America, it seems that Ibiza was her favorite destination. So, let’s begin by hearing from Sara about CryptoPay.
What is CryptoPay?
CryptoPay.do is a crypto OTC desk based in the Dominican Republic, offering a simple and secure way to exchange cryptocurrencies for fiat and vice versa.
Can you convert cryptocurrencies to DOP or USD?
CryptoChipy continues: Could you explain how this works?
Yes, the process is straightforward: After registering on the app and completing your KYC, you can begin buying or selling crypto, transferring funds to our bank accounts and wallets. Once confirmed, we deliver the funds to the user. Our commission is about 3%.
Has CryptoPay considered supporting other crypto assets?
CryptoChipy says: Currently, CryptoPay offers fiat-to-crypto transactions with BTC, USDC, BUSD, and USDT.
Sara says: Yes, we plan to add more crypto assets based on demand.
Are you assisting brick-and-mortar businesses in accepting crypto?
Yes, at the moment, we are working with two of the largest currency exchange agencies in the Dominican Republic and are in talks with several other major companies to integrate this service as well.
Why choose CryptoPay for crypto processing?
Förnamn, we are one of the pioneers in the Dominican Republic as a crypto OTC desk. Sekund, CryptoPay has over 5 years of experience in the market, expanding our client base and developing new services globally. Tredje, we offer competitive fees and excellent service — you can’t ask for more! ??
Criptochipy.com replies: Those are three clear and appealing reasons. I wish my Spanish were better so I could try CryptoPay myself.
How do you manage such fast transfer times?
Markus notes: I see that it takes around 15 minutes for a bank transfer to buy Bitcoin. That’s quite fast, isn’t it?
Sara replies: We have a great team working around the clock, along with other technologies that help speed up and streamline the process.
Which debit and credit cards does CryptoPay support?
We are currently working on accepting any credit or debit card soon.
How large is the crypto market in the Dominican Republic?
It’s massive. In 2018, we ranked third in Latin America for the highest volume of cryptocurrency transactions, according to a study by Local Bitcoins.
What are CryptoPay’s future plans?
At the moment, we are focused on expanding throughout Latin America. As we like to say at CryptoPay: We are your bridge to the decentralized ecosystem. Our goal is to connect more people to this world and increase cryptocurrency adoption.
Markus and CryptoChipy would like to thank Sara Negron for taking the time to answer all of our questions and wish her the best in her efforts to increase cryptocurrency adoption in Latin American markets.
CryptoChipy says: Now, here’s a question that we’ll ask all of our interviewees:
What is your own favorite cryptocurrency?
Cosmos (ATOM). Their blockchain (Cosmos) is one of the most functional crypto ecosystems out there, working on real products. It offers many advantages, such as Inter-Blockchain Communication (IBC) and new updates every day. I’ve been following the project for two years now.
Vänligen notera: CryptoPay.do and the company Cryptopay, SRL are not affiliated with CryptoPay.me.
Tips from CryptoChipy: Do you find Bitcoin transactions too slow? Check out the review with Robert where he discusses the Lightning Network.
