Interview With Tobias Sorn – Coinsbee
PIA spoke with Tobias Sorn, CEO of Coinsbee about how saw started the company as a way to use cryptocurrency in everyday life. We also discussed some of the cybersecurity threats in the world of crypto and how he sees crypto evolving in the next few years.
Private Internet Access: Tell me about how Coinsbee got started and how the company has evolved since it launched in 2019?
Tobias Sorn: Coinsbee has be founded by me and my CO-Founder in 2019. At this time, we were surprised at how few options there were to pay with cryptocoins in everyday life.
Our platform has evolved significantly in the 3 years since its launch in 2019. The range of gift cards has grown significantly by increasing the number of international and national brands. Coinsbee currently offers over 25,066 products for purchase from over 1,991 brands in 184 countries.
Since 2019, our team has grown to 6 employees who work from Germany and Ukraine, which undoubtedly accelerates our development.
In 2021, we started a strong partnership with Binance and Remitano, and in the same year, Coinsbee was registered as an international brand.
PIA: Who is your ideal customer?
TS: Our ideal client is a person who believes in the spread and popularization of cryptocurrencies, and who also keeps up with the times, because this person knows what cryptocurrencies are and how to use them.
Some of our ideal clients especially value privacy or security, while others simply value the convenience and speed of purchases that can be made using cryptocurrencies in the first place.
PIA: What are you most popular gift cards?
TS: We can identify the 4 most popular categories of brands whose gift cards people buy the most.
First of all, of course, this is E-Commerce. This includes brands such leaders as Amazon, JD.COM or Walmart. As you already understood, such gift cards provide an opportunity to buy a huge number of things: from toilet paper to a robot vacuum cleaner.
Secondly, these are game gift cards. This includes popular brands such as Playstation, Steam, iTunes, Xbox, Google Play, as well as many other gift cards for individual games like League of Legends. Such gift cards provide the ability to pay for a monthly subscription, purchase in-game currency, skins and much more that gamers know about.
Also among the leaders are brands of payment gift cards, with which you can pay for just everything on the Internet. Leading brands are My Prepaid Center Mastercard, PCS or Flexepin.
Well, another leader can be called mobile phone providers, gift cards for which will allow you to top up your prepaid mobile phone for cryptocurrency. Gift cards from more than 440 brands in 165 countries are available for purchase, not to mention gift cards from top brands such as Vodafone, Turkcell or EE.
PIA: What are the biggest cybersecurity threats with regard to cryptocurrency?
TS: Since cryptocurrencies are super young and still have relatively little regulation, investing in and holding them can carry some risks.
Of course, these risks include cybersecurity threats.
I would like to start with general things. The most common threat, it seems to me, is the general inexperience of the user in dealing with cryptocurrencies and ignorance of what it is, because cryptocurrencies have just begun to touch the mainstream, and the principle of their work and the blockchain are quite complex things.
A large number of users know that a very important factor in the security of crypto assets is the password code, which is individual for each user. A well-known and sad saying in the crypto world says “who owns the password key, owns the assets.” You have to store your password safe because there are threats For example like phishing and malware.
Due security reasons we can not talk in detail how coinsbee.com handle cybersecurity threats.
PIA: Online privacy is such a hot-button topic, especially when it comes to cryptocurrency, do individuals and companies need a good VPN to protect their data and privacy?
TS: VPN services can be a useful tool to help the user use the Internet more securely and more privately.
VPN can also help prevent hackers from accessing your personal data, as well as prevent your personal information from being misused by well-known services like Facebook. But still, if you trade your privacy for any services (Amazon, Meta or Google), which happens to the average user all the time, then you endanger your personal data.
PIA: How do you protect your user’s privacy?
TS: We take the protection of our customers’ personal data very seriously and responsibly. For example, our website uses an SSL or TLS encryption program. Payment transactions using common payment methods (Visa/MasterCard, debit to your bank account) are processed exclusively through SSL or TLS encrypted connections.
Of course, we treat personal data as confidential information and in accordance with the data protection regulations and this Data Protection Declaration.
We store all customer data encrypted. Also, unlike our competitors, we do not use any internal trackers or services that are not dedicated to payment processing.
PIA: How do you see the near future of cryptocurrency, is it becoming more mainstream or stable?
TS: In our opinion, cryptocurrencies have really already had a significant impact on our world and they continue to develop. Considering the fact that this is a relatively young phenomenon, but which is developing so rapidly, it seems to me that the future in this industry is very promising.
We believe in the global spread of cryptocurrencies such as Bitcoin and Ethereum. With the help of cryptocurrencies, payments can be made very quickly, securely and traceably. At Coinsbee, we make it possible to pay for everything you need in everyday life . So you don’t need a bank account.
PIA: Thank you, Tobias, for taking a few minutes to share your insights with our readers.