Today, Crypto Lists got the pleasure to finally do an interview with Sara Negron, the founder of CryptoPay – a company from Dominican Republic that specialise in OTC transactions since 2017. Her site is targeting the Spanish-speaking crypto market in Caribbean and it’s only available in Spanish. A niche market some might say, but in fact – 493 million people got Spanish as their first language, and there are an additional 99 million speakers according to Instituto Cervantes.
It was inspiring to hear Sara Negron speak about how people from all age groups in Dominican Republic, even grand mothers, invest in crypto. One of the reasons that many locals choose crypto as an investment is because the local fiat currency, Dominican Peso (DOP), is rather weak against the USD. The value of DOP against the USD have decreased over 50% since 2004. Another reason is the potential of cryptocurrencies, even if the risk also is high for crypto investments.
After following Sara on Twitter (@crypgurl) and Instagram, I noticed that she travelled around Europe, U.S and South America during a long summer holiday. From Barcelona to Ibiza, to Madrid, to Miami and New York, followed by South America. Apparently, Ibiza was the favourite. So, lets start with Sara explaining more about Crypto Pay.
Go directly to
- 1 What is CryptoPay?
- 2 So can you convert cryptocurrencies to DOP or USD?
- 3 Have CryptoPay considered supporting other crypto assets?
- 4 Are you helping many bricks and mortar businesses to accept crypto?
- 5 Why do crypto processing with CryptoPay?
- 6 How are you able to get so quick transfer time?
- 7 Which debit and credit cards does CryptoPay support?
- 8 How big is the crypto market in the Dominican Republic?
- 9 What are the future plans for CryptoPay?
- 10 What is your own favourite cryptocurrency?
What is CryptoPay?
CryptoPay.do is a crypto OTC desk based in the Dominican Republic, where you can exchange your crypto into fiat and vice versa in an easy and safe way.
So can you convert cryptocurrencies to DOP or USD?
Crypto Lists continues: Please explain how it works?
Yes, the process is simple: After you register in the app and completed your KYC, you can start buying or selling crypto, transferring to our bank accounts and wallets. When it is confirmed, we deliver the funds to the user. Our commission is around 3%.
Have CryptoPay considered supporting other crypto assets?
Crypto Lists says: Today, CryptoPay offers fiat to crypto transactions with BTC, USDC, BUSD and USDT.
Sara says: Yes, we will add more crypto assets, based on demand.
Are you helping many bricks and mortar businesses to accept crypto?
Yes, right now we work with 2 of the biggest currency exchange agencies in the Dominican Republic and we are closing other deals with major companies to use this service also.
Why do crypto processing with CryptoPay?
First, we are one of the first companies in DR to work like a crypto OTC desk.
Secondly, CryptoPay have more than 5 years in the market, growing our portfolio of clients and developing new services globally.
Third, good fees and great service, you can’t ask for more 🙂
CryptoLists.com replies: That is 3 clear and attractive points. Wish I spoke Spanish better, then I’d try CryptoPay immediately.
How are you able to get so quick transfer time?
Markus notice: I see about 15 min for a bank transfer to buy Bitcoin. That’s rather quick, right?
Sara replies: We have a great team working anytime and also other technologies that help to make the process faster and easier.
Which debit and credit cards does CryptoPay support?
How big is the crypto market in the Dominican Republic?
Too big. We were in the 3rd place of Latin America countries that moved the most volume in cryptocurrency transactions in 2018 according to an investigation by Local Bitcoins.
What are the future plans for CryptoPay?
Right now we are focused on expansion through Latin America. Like we say in Cryptopay: We are your bridge to the decentralized ecosystem. The idea is to connect more people to this world and increase adoption.
Markus and Crypto Lists would like to thank Sara Negron for taking the time to answer all questions, and wish her the best success in increasing adoption for cryptocurrencies in the Latin American markets.
Crypto Lists says: Finally, a question that we are going to ask every interviewee is the following:
What is your own favourite cryptocurrency?
Cosmos (ATOM). Their blockchain (Cosmos) is one of the crypto ecosystems that is really working on a real product. They have many advantages such as the IBC transaction (Inter-Blockchain Communication) and new updates every day. I have followed the project for two years now.
Please note: CryptoPay.do and the company Cryptopay, SRL has nothing to do with CryptoPay.me.
Tips from Crypto Lists: Do you find normal Bitcoin transactions too slow? Read the review with Robert where he talks about the Lightning Network.