CoinStats, a leading crypto, DeFi, and NFT portfolio manager, partnered with Venly to enhance the user experience and streamline access to its platform. With a user base exceeding one million active users monthly, CoinStats faced challenges in user onboarding and accessibility that were crucial to address in order to sustain growth and user engagement.

Context & Challenge

CoinStats encountered several challenges that affected user growth and platform accessibility:

1. Complex Onboarding: New users had to navigate through sophisticated web3 native tools like MetaMask, which posed a significant barrier.
2. High Friction: The requirement for specialized tools limited access for newcomers unfamiliar with cryptocurrency wallets and decentralized applications.
3. Limited Reach: The reliance on advanced tools restricted user acquisition and platform growth, necessitating a more user-friendly solution.

Approach & Solution

To tackle these challenges, CoinStats integrated Venly's Wallet API:

1. Simplified Onboarding: The API included social media authentication, making it easier for users to join without complex web3 tools.
2. User-Friendly Experience: Venly's white-label solution allowed CoinStats to brand the wallet interface, making it more intuitive for users hesitant to adopt new technologies.
3. Expanded Reach: This integration facilitated an easier entry point, attracting a broader audience and enhancing user acquisition.

The integration of Venly’s technology into the CoinStats platform was a smooth and effective process, largely due to Venly's clear documentation. This comprehensive guidance facilitated a seamless setup, ensuring that every step was straightforward.

Additionally, whenever any difficulties were encountered, Venly's support team was proactive and eager to assist, demonstrating their commitment to ensuring a successful integration and enhancing the overall user experience on the CoinStats platform.

Results

The integration significantly boosted CoinStats' user base:

Over 18 months, 700K users were onboarded through the Venly Wallet API. This sustainable partnership resulted in the creation of more than 40K new wallets per month, demonstrating substantial growth and engagement.

We envisioned a platform that was not only powerful but also accessible to everyone, regardless of their familiarity with crypto. Partnering with Venly allowed us to turn this vision into reality, dramatically simplifying our user onboarding process and expanding our reach. This has been pivotal in our mission to empower people to manage their crypto portfolios more effectively and effortlessly. - Narek Gevorgyan, CEO of CoinStats

CoinStats continues to innovate, planning further enhancements to ensure the platform remains at the forefront of cryptocurrency management tools, driven by user feedback and ongoing technological advances.

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