Company Updates

Insights from CoinGate’s ‘X Spaces’ Session with NordVPN

Last updated: September 7, 2023 8 min read

Vilius Barbaravičius

When it comes to cryptocurrencies and online security, meaningful conversations can illuminate the path forward. That’s precisely what happened during our recent X Spaces session with none other than guys and gals from NordVPN. 

coingate nordvpn x spaces

In this blog post, we aim to recap the enlightening insights, future-forward opinions, and intriguing data points that emerged during this curious conversation between Justas Paulius, the CEO of CoinGate, and Kęstas Saulis, the Head of Payments from NordSecurity.

But before diving into the rich insights and takeaways from this enlightening session, we have some exciting news for you. As a token of appreciation for your continuous support, we are offering a special promotion: 

When you purchase any of NordVPN’s 2-year plans using crypto or BinancePay, you’ll get four extra months free! Don’t miss out on this exclusive offer available at NordVPN’s website.

What’s more, we’re teasing our first AMA session sometime in October. Your questions make these discussions richer and more informative. So, why wait? Submit your questions now and help shape the agenda for our next conversation.

Now, let’s delve into the key insights from our recent conversation with NordVPN on X Spaces. You can also listen to the audio version here:

Why Crypto and VPNs are a Perfect Match

The conversation kicked off with a probing look into how cryptocurrencies and VPNs intersect in the realms of security and privacy. NordVPN’s Kęstas was the first to weigh in, emphasizing that in the digital world, security is not just an option but a necessity. This is particularly true when transacting in cryptocurrencies, where each transaction, once verified, becomes a permanent record on the blockchain.

Then came the privacy angle. While it’s true that cryptocurrency transactions are transparent, Kęstas and our team agreed that this transparency doesn’t extend to personal identification. In a world increasingly concerned with privacy, the anonymous nature of crypto transactions offers a compelling advantage. 

We couldn’t help but nod in agreement; after all, anonymity is one of the cornerstone features of both cryptocurrencies and VPNs.

Yet, as in any conversation worth having, the discussion was not all roses. Kęstas wisely pointed out that the irreversible nature of crypto transactions means that if your account is hacked, those funds are gone forever. 

This sobering reality underscores the need for robust security protocols, a challenge that we at CoinGate are committed to meeting. It served as a potent reminder that while cryptocurrencies and VPNs offer enhanced privacy and security, they are not without their risks and limitations. Therefore, user education and robust security measures are of paramount importance.

The Evolution of Crypto Payments: A Nostalgic Trip Through Time

Our journey into the world of cryptocurrencies took us down memory lane as Justas reminisced about the early days. Seven years ago, the crypto scene was vastly different. Most transactions were confined to the primary blockchain, or what is often referred to as ‘Layer 1.’ 

At that time, the general public’s understanding of and trust in cryptocurrencies was still in its infancy. We couldn’t help but feel a sense of nostalgia; those were the days when we were just starting to understand the immense potential of this technology.

Fast forward to today, and the landscape has radically transformed. Not only have Layer 2 solutions like Polygon and Arbitrum come into play, but we also see specialized payment solutions like Binance Pay gaining traction. These technologies represent the evolution and diversification of the crypto space, something we at CoinGate are actively participating in.

The topic then shifted to the future, a subject that always brings a sense of excitement and anticipation. Kęstas expressed a high level of trust in CoinGate’s expertise in steering future payment solutions. This mutual confidence reaffirms our commitment to innovation and adaptation. 

After all, cryptocurrencies are not a static technology; they are an evolving ecosystem that presents new challenges and opportunities. We are keenly aware of this dynamic and are actively preparing for what the future holds.

What Do Numbers Say? Crypto Adoption Insights

The conversation turned toward data-driven insights, a realm where numbers speak louder than words. On CoinGate’s platform, the most popular cryptocurrencies used for invoice payments this year have been BitcoinTC, Tether USD, Litecoin, Ethereum, and TRON

Interestingly, NordVPN reported a similar trend, with their most popular cryptocurrencies being Bitcoin, Ethereum, Litecoin, Tether, Tron, and Binance USD. This congruence reaffirms that certain cryptocurrencies are becoming increasingly preferred for both general and specialized online transactions.

When it comes to Binance Pay, the numbers are equally telling. Since we integrated Binance Pay back in March, it has accounted for 8% of all orders across our platform. To put this in perspective, that’s from all merchants that have received at least one Binance order. 

NordVPN’s experience echoes this, with 9% of all their payments coming via the Binance Pay solution since its integration in March. This indicates a strong and growing use case for Binance Pay among NordVPN’s client base.

The adoption isn’t just limited to us or NordVPN. Top merchants like Hostinger and IPRoyal are also experiencing a surge in Binance Pay usage. In fact, around 239 merchants have already adopted this payment solution, showcasing its growing appeal and reliability.

These data points aren’t just statistics; they are indicative of broader market trends and user preferences. They provide actionable insights that will undoubtedly influence future strategies for both CoinGate and NordVPN.

Why Do Quick Transactions Matter? It’s All About User Experience.

The issue of transaction speed is a hot topic in both the crypto and VPN worlds, and it was no different in our discussion with NordVPN. Kęstas highlighted how essential speed is in today’s fast-paced digital landscape. Users expect transactions to be processed swiftly and without hiccups, a sentiment we at CoinGate share wholeheartedly.

In this context, it’s worth noting that we are actively working on enhancing the speed of transactions on our platform. Technologies like Layer 2 solutions and specialized payment methods like Binance Pay are not just innovations; they are responses to the user demand for quicker, more efficient payment options.

Kęstas also touched upon the idea that speed is an integral part of the overall user experience. Slow transaction times can be a deterrent for potential users and can negatively affect the perception of both cryptocurrencies and VPNs. 

With this in mind, our team at CoinGate is committed to continuous optimization. Our goal is to make the transaction process as smooth and as fast as possible, ensuring that users can enjoy the benefits of both cryptocurrencies and VPNs without any unnecessary delays.

Special Offer From NordVPN and What’s Coming Up Next

As a gesture of our appreciation for your continuous support and engagement, we have something special for you. When you purchase any of NordVPN’s 2-year plans and choose the crypto or BinancePay payment option, you’ll receive four extra months absolutely free! 

This amazing deal is available exclusively at NordVPN’s website. It’s our way of saying thank you for being an integral part of our community. And yes, we’d like to extend our gratitude to NordVPN for their partnership in offering this deal.

But that’s not all! As mentioned in the intro, we are excited to announce that our first AMA session is expected to happen in October. Your questions and insights have been invaluable to us, and we invite you to participate in shaping the discussion for our upcoming session with NordVPN. 

You can submit your questions in advance through this Google Form. Don’t miss out on this opportunity to engage with us and deepen your understanding of cryptocurrencies and VPNs.

Summing Up the Conversation

As we wrap up this comprehensive recap of our fascinating X Spaces session with NordVPN, we are filled with a sense of gratitude and excitement for the future. The discussion underscored the mutual goals and shared visions between CoinGate and NordVPN, enriching our understanding and reinforcing our commitment to innovation and user satisfaction.

It’s worth noting that conversations like these are not just dialogues between industry leaders; they are touchpoints of community engagement, platforms for knowledge-sharing, and catalysts for innovation. We are incredibly thankful to NordVPN, all our partners, and most importantly, our community, for making such an enlightening discussion possible.

The insights gleaned from this session will inform our future strategies and offerings, ensuring that we continue to meet the evolving needs and expectations of our users. 

As we look forward to our first AMA, we’re excited about the new horizons of discussion and discovery that await us.

We invite you to be a part of this ongoing dialogue and journey with us as we explore the ever-evolving landscapes of cryptocurrencies and online security.