Vladimir Kardapoltsev, CEO of PointPay Speaks Exclusively to CryptoNewsZ

In crypto we trust: the CEO of PointPay, Vladimir Kardapoltsev, shares his thoughts about investing in crypto in 2022

• We would love to know more about PointPay, the first crypto ecosystem and the product offerings included in its unique ecosystem.

PointPay is a cryptocurrency banking platform that has been in operation since 2018. The company serves more than one million active users worldwide. Our ecosystem includes a blockchain-based bank, an exchange platform, a crypto wallet, and a payment system. 

With PointPay crypto bank, users can earn daily interest on their assets, get instant loans, or order VISA crypto debit cards. PointPay crypto wallet provides a way to store digital assets on the blockchain, easily send them via email and track their value over time. Our payment system allows customers to buy the most popular digital assets directly from debit and credit cards for fiat currencies such as USD, EUR, GBP, etc.

• Okay, what are the functions of a crypto bank? How do you earn money, and what do you offer to clients?

Crypto-banks handle a wide range of standard monetary transactions, such as transferring money, saving, lending, and investing in a broader range of financial instruments. While this also perfectly describes a traditional bank, PointPay integrated blockchain into these financial functions. 

The interface is generally similar to traditional financial institutions. However, there are key differences. For example, PointPay allows anyone to take out a loan in a matter of minutes, without requiring a credit check. Also, anyone can open an account that supports multiple digital assets. PointPay crypto bank also offers higher interest rates than traditional banks

• It’s obvious and logical to compare crypto to traditional finance and banking. Nowadays, what do you think is more profitable: investing in crypto or local currencies? And why?

Well, I trust in crypto more than in traditional finance. And I say it not only as CEO of the crypto company but also as a person who has an economics degree from UCL and a master of finance from the University of Aberdeen. 

First, I like that crypto is not connected to a particular country, so it’s not affected by the actions of the country’s government. A recent example is that Russia’s foreign policy made the ruble fall through the floor, and the citizens just had to bear the brunt. So most of them lost their funds in relation to other currencies quite quickly. On the opposite end, crypto doesn’t belong to any country; it’s global: most people can buy, sell and use it. Crypto is about ideas and technology, and that inspires me the most. You can predict a project’s success by knowing its founders and its intentions, and also by analyzing the current trends. 

At the same time, there is always an Elon Musk persona, who could stir up the whole market by a single tweet. That’s incredible! Very exciting to observe and anticipate what would happen next. Crypto is our financial future, I’m sure of it.

• Can crypto save us from inflation?

In October 2021, consumer prices rose at the fastest pace in more than three decades. The price increase was driven by supply chain disruptions and continued demand for goods. As wages in many sectors begin to rise in the face of labor shortages, some companies are expected to charge customers more to cover rising labor costs.

Central bank policies are at the heart of the global financial system. They are often condemned for manipulating the money supply and interest rates in their policies. Bitcoin can be an alternative to central banks for both economic and technological reasons. 

Bitcoin was created during the Great Recession in the United States as an irreplaceable store of value, independent of any sovereign nation. It is inherently diversified, as it does not depend on the profits or losses of any single economy. And while attempts to regulate a country’s cryptocurrencies can affect the price of the asset, Bitcoin’s future does not depend on a single country’s regulatory policies. 

Cryptocurrencies have a major advantage over fiat currencies in that they cannot be diluted or devalued. For instance, Bitcoin’s value is determined by its rarity, security, and transferability. More and more institutional investors are using Bitcoin to hedge against inflation and currency devaluation and to diversify their portfolios.

• How does cryptocurrency gain value?

Several factors contribute to the value of a cryptocurrency, such as increasing demand, the size of the network, adoption, production costs, etc. First of all, the supply and demand of the digital currency affects its value. If crypto has limited supply, growing popularity should increase its price.

And when a cryptocurrency becomes mainstream, its value can skyrocket. If a currency is useful in everyday transactions, like existing fiat currencies, it will likely play an important role. The number of network nodes and wallets a cryptocurrency has also indicates community support. This is particularly useful in determining the currency’s chances of overcoming crises.

The government’s regulations can affect the price of digital assets. For example, Russia and China have targeted exchanges and trading activities, which negatively affects cryptocurrency prices.

• What is the main aim of your project?

We believe that the future of banking will be built on blockchain technology. PointPay is excited to be at the forefront of the crypto banking revolution, providing a platform with the broadest range of crypto banking services in-house. Our goal is to enable financial freedom by offering universally accessible crypto banking services. Therefore, we have built an ecosystem that now includes a blockchain-based bank, an exchange platform, a crypto wallet, and a payment system. We are also developing additional solutions, such as PointPay Launchboard and NFT platforms and others.

• How to protect your crypto funds? What do you do for it in PointPay?

Besides the basic rules of not using the same password on different websites or storing your passwords in one place, there are some essential steps you need to take to protect your crypto funds. You should always enable two-factor authentication to protect your transactions, avoid phishing links, do not access exchanges or wallets through public networks, and check your wallet credentials regularly. Also, keep the majority of your funds in cold-storage wallets with multiple signatures. Do not keep all your funds in a single wallet.

Security is a top priority for PointPay. To detect threats and vulnerabilities, we use automated vulnerability scanning tools. Our company also uses SSL to encrypt transmitted data with industry security protocols. Our website also complies with PCI DSS (Payment Card Industry Data Security Standard) requirements. This means that we guarantee protection against theft of customer data and other fraudulent activities during transaction processing. 

Our team is also constantly working to improve the security of our websites. In 2021, we introduced the 2FA by email and Google Authenticator security feature in the app. PointPay is also implementing the KYC process to prevent financial crimes and money laundering through our platform. We are working with cybersecurity experts, ecosystem partners and regulators to further strengthen PointPay’s defenses against attacks and security breaches. We are committed to developing new ways to provide users with a more secure experience with our platform.

• What are your expectations and forecast for BTC and other tokens this year?

The last two years show we can’t be sure about anything. So it’s really difficult to make predictions and forecasts. But I feel that BTC will grow, becoming more than just a currency for those who invest in crypto, but a worldwide legal tender that will be used in everyday life. 

And of course, I believe in our token — PXP. This year we will finish our ecosystem and launch additional projects. I’m sure it will affect PXP’s price in a very positive way. And also, we plan to list our tokens on more exchanges. Please stay tuned for updates! 

Thanks for your time, we wish you luck for all your future endeavors.