The LetsExchange Chronicle: A Recap of 2023

Throughout 2023, the cryptocurrency industry has been on a dynamic journey marked by highs and lows, challenges and aspirations, limitations and new horizons. Most importantly, the industry has seen continuous growth, as has LetsExchange. Every day, we've been dedicated to enhancing the user experience and adding value to our solutions and products for partners. Here's the LetsExchange year-end report, highlighting our most significant achievements and key metrics that we're excited to share.

2023 in Numbers

Leading in the Number of Supported Crypto Assets

In 2023, the high competition in the instant cryptocurrency exchange service market escalated even further. The first half of the year alone saw the entry of over 10 new competitive services. Additionally, there was an increase in services in related segments.

Nevertheless, LetsExchange maintains its position among the top 5 key players in the market. Primarily, this is attributed to the number of supported crypto assets. As of the end of 2023, this figure has reached 4,200+ coins and tokens. The growth in this metric over the year has surpassed 110%.

However, the number of trading pairs available to our users is even more impressive. By the end of 2023, this figure surpassed an incredible 17.5 million crypto pairs! LetsExchange's infrastructure enables direct exchange between any available coins, regardless of the network, without any other limitations. This capability is unmatched by any of our competitors or any other service, including major CEX exchanges.

Holistic Approach, Transparent Process

Striving to ensure the best user experience, the LetsExchange team has revamped the exchange widget and relaunched the DEX and Buy/Sell modes. As a result, our users have gained a more user-friendly interface for cryptocurrency exchange operations and a comprehensive solution that allows them to swap, buy, and sell crypto hassle-free.

However, our vision of the ideal user experience extends far beyond cryptocurrency transaction processing. To foster deeper user engagement, we have redesigned our blog and are currently reforming our content approach. Ultimately, we aim to offer our users a professional media platform with the necessary information to make the right investing decisions.

Additionally, our users now have access to various quests on the Zealy platform, allowing them to obtain multiple benefits (including promo codes that make exchanges on LetsExchange even more lucrative) by completing various tasks.

We continue to strive for more. To join our adventure or if you have any new services or features you want to see on LetsExchange.io in 2024, please complete this form. It will take you at most 1 minute.

More Flexible Solutions for Partners

Throughout the past year, we have taken several significant steps forward in providing our partners with a wide range of B2B solutions for cryptocurrency exchange.

We have revamped the personal account, allowing our partners and affiliates to create widgets or exchange buttons that fully align with their brands and meet all business requirements in just a few clicks.

Another crucial solution that coin teams appreciate is the branded Telegram bot for cryptocurrency exchange within the app. Since its launch, several dozen of our partners have utilized this solution.

Additionally, cryptocurrency exchange monitoring websites received a universal solution. Now, any such website can easily obtain all necessary data from LetsExchange in the needed format.

We have also devoted significant attention to accompanying documentation, providing our partners with detailed instructions for each solution and an extensive media kit, significantly facilitating collaboration.

Building Trust

The most valuable outcome is the growth of trust among users and partners. We observe this through various factors, ranging from the traffic on our website and the number of social media followers to business metrics such as transaction volume and overall transaction count.

Indeed, we have faced situations where individual user transactions did not go as planned. However, every negative review remains not an irritating misunderstanding but a signal of areas where we can improve. As a result, we have solidified our metrics and maintained one of the highest ratings on Trustpilot in the market. Additionally, LetsExchange became the first among similar services to undergo validation by the Magic Store’s community, the web3 applications platform, and received high user ratings – 79% of users supported LetsExchange.

Building trust with partners would have been impossible without face-to-face meetings. Throughout this year, we have attended over a dozen different events, including Web Summit, ETHcc, Prague Blockchain Week, SiGMA summits, etc. We’ve met hundreds of friends and thousands of potential partners with whom we are now making joint plans. LetsExchange's recognition by the professional community is evident in multiple nominations for “The Payment Provider of the Year” and “The Crypto Payment Solution of the Year” awards.

LetsExchange has also reinforced the security through a strategic collaboration with HackenProof. We have launched a bug bounty program, where white hat hackers participate in uncovering vulnerabilities on various LetsExchange services and products.

Finally, it is essential to highlight the strengthened control over AML rule enforcement. To ensure that all our users and partners can unequivocally rely on receiving only “clean” funds from us, we have integrated several new AML providers and solutions into our infrastructure.

And as always, it’s just the beginning! See you in 2024!

The LetsExchange team