Benzinga - Detroit-based Benzinga, a media and data provider bridging the gap between retail and institutional investors, sent its team to Miami, Florida, for Bitcoin 2023. During the event, Benzinga sought to recognize the innovation in digital assets broadly and spoke with founders, officials and investors in various crypto-related companies. The following is a conversation with Ella Wypasek, Vice President of Marketing at CoinFlip.
The conversation has been edited for clarity.
Q: Hi, Ella; nice to meet you. Care to start with an introduction?
Ella Wypasek: I have a background in fintech and trading, specifically in futures and forex, with a company called Top Step Traders. At Top Step Traders, I saw the potential of crypto, but, I noticed that the space was not welcoming or user-friendly. It was dominated by tech-savvy individuals and had a complex language and culture. That's when I got involved with Coinflip, a Bitcoin (CRYPTO: BTC) ATM operator that has been around since 2015.
I heard about the Olliv news. Care to elaborate on that?
We launched a new product called Olliv, aiming to make crypto accessible to everyone. Olliv lets users buy, sell, send, swap, and receive cryptocurrencies through our digital platform. It can be accessed via our website or mobile apps on iOS and Android. We designed Olliv with a focus on simplicity and ease of use. We realized that many existing exchanges, wallets, and apps were too technical and confusing for newcomers. Our goal was to create a user experience that is secure, intuitive, and can onboard users in just 3 minutes. Additionally, Olliv provides self-custodial wallets.
Talk about the response to your presence here at this event.
It's great to be at events like this and directly interact with people. Many individuals who approach us don't have a wallet and haven't used crypto before, so it's exciting to show them that they can get started in just a few minutes. To promote our platform, we've launched a multi-million dollar marketing campaign, including nationwide commercials. These ads have a humorous take on the traditional "crypto bro" mentality often associated with the crypto space. It's refreshing to bring crypto commercials back into the mainstream and showcase our approach to a broader audience.
How do you market in this environment?
We want to be on the ground and talk to the people that have not been onboarded. We want the billions of people out there that might want to try crypto but don't really know how, or they're a little skeptical of it, or they've been trying to, but they don't know who to use or how to do it. We're going after those people, so we really want to be on the ground, shaking hands, having conversations. Things like van tours and art festivals enable us to have those conversations and walk people through. And then Tampa, specifically, is a great example. At our second office in Tampa, Florida, we built a physical crypto experience center. You walk in and talk to crypto guides, asking any silly questions you may have. We help you through it. We offer free classes.
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How do you best reach billions of people around the world?
We believe in taking a personalized approach and having meaningful one-on-one conversations. Our focus is on providing extensive education and information to individuals. Instead of relying solely on industry trade shows, we aim to engage with people in various settings. For example, the experience center is an excellent initiative, allowing us to interact with individuals on a more personal level. Additionally, we strive to meet people at different stages of their journey, tailoring our education and support to their specific needs and interests. By meeting them where they are and providing valuable education, we can make a better impact.
How do you communicate the value of what you’re offering? What are some of the challenges you may encounter?
Our approach is to simplify the onboarding process and go back to the basics of crypto. We understand that abundant news and information can be overwhelming and intimidating for people. We aim to strip away the complexity and jargon associated with crypto and focus on the core principles: giving individuals control over their assets and providing a user-friendly experience. We prioritize education, ensuring users understand concepts such as custodial and non-custodial solutions. Our goal is to make the user experience seamless, secure, and compliant. The recognition and awards for our commitment to compliance instills trust and confidence in our users.
What are some big risks for you?
There is a perception gap and misunderstanding surrounding the use cases and benefits of crypto. Our company aims to address this by showcasing the practical applications of crypto, such as using it to send money or make payments to individuals like friends or babysitters. Additionally, we emphasize the utility and versatility of crypto, highlighting how it can seamlessly integrate into people's everyday lives. While there may be some negative actors in the industry, we believe it is important to distinguish us as a compliant and trustworthy player. We emphasize our commitment to protecting customers; despite the presence of bad actors, we are focused on the positive reasons for being in the industry and are dedicated to helping customers and promoting security.
Years out from now, where do you want to be?
Our primary goal is to onboard a million users onto our platform, which would be a significant achievement. In addition, we recognize the vast opportunities presented by blockchain technology, and we have an extensive roadmap for expanding the services offered through our Olliv product. We aim to become a comprehensive platform that provides easy and accessible financial services powered by cryptocurrency. We strive towards becoming a one-stop shop for all your crypto-enabled financial needs.
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