More users, less churn: chainEDGE implements Loop for crypto payments
TL;DR: chainEDGE has implemented Loop to enable automated crypto payments for subscriptions. This allows chainEDGE to grow its user base of crypto traders by making it easy for them to pay in crypto and unlock access to chainEDGE’s powerful insights and trading terminal.
Introduction
We’re excited to announce that chainEDGE is now live with Loop enabling crypto payments for its subscriptions. As an all-in-one data and trading terminal, chainEDGE is designed to provide traders with the tools they need to succeed in the crypto markets. They work with thousands of traders providing them with the research, insights, and community required to identify and evaluate emerging projects.
As a platform catering to individuals and firms with on-chain wealth, providing a way to pay in crypto for chainEGDE’s service has been a critical need. They utilize a subscription model with users paying on a recurring basis for access to the platform. Managing recurring crypto payments has been a major challenge for chainEDGE though, so they turned to Loop for its autopay functionality that would allow their users to sign up once with a wallet and authorize an automated recurring payment in crypto. Having been live with Loop for 2 months now, chainEDGE is already seeing the benefits of lower churn and the elimination of hours of follow-up work chasing customers for payment.
Empowering crypto investors
In 2021, Onchain Wizard founded chainEDGE because he saw firsthand how difficult it was to get started in crypto trading and identify legitimate projects worth investing in. The goal of founding ChainEDGE was to equip any level of trader with the tools to find and analyze the best emerging token opportunities and invest before they became mainstream.
The ChainEDGE terminal provides investors with a range of tools. They can follow a curated list of “Smart Money” wallets and mimic the buying and selling behaviors of the most successful traders that ChainEDGE has identified. Traders can also use the platform to perform deep analytical research on emerging projects. Ultimately, ChainEDGE’s tooling is meant to help traders avoid the latest scam or rug pull while being able to study the patterns of the most successful traders in the crypto ecosystem. Here are some of the key features that ChainEdge offers:
Real-Time Data Streaming: ChainEDGE streams the trading activities of top crypto traders, providing users with actionable insights into profitable trading strategies.
Proprietary Research: The platform publishes daily research based on its data, helping users stay informed about market trends and opportunities.
Customizable Alerts: Users can set alerts based on various parameters, such as token age, wallet performance, and smart money retention, enhancing their trading decision-making.
Community Engagement: Subscribers gain access to an exclusive Discord community where they can share ideas and strategies with other traders.
Algorithmic Insights: The platform uses proprietary algorithms to filter and analyze trading data, focusing on the most successful traders while excluding unreliable data sources.
Educational Resources: ChainEDGE provides resources to help users understand how to leverage its data for trading success, including guides on spotting emerging opportunities.
Enabling crypto payments for subscriptions
chainEDGE’s client base ranges from experienced to first-time crypto traders. These traders hold on-chain wealth and want to pay for products and services in crypto because it is easier and cheaper since it avoids the hassle of moving funds on and off chain. With a focus on traders, chainEDGE knew it needed a crypto payment option that would meet customers’ payment needs and grow the business.
Originally, chainEDGE started with Coinbase Commerce as their crypto payment option. While Coinbase Commerce is sufficient for one-time payments, there is no recurring payment functionality. This caused a massive hassle for chainEDGE’s customers who would need to return to the chainEDGE billing page each month to manually send another crypto payment for their subscriptions. This created tons of friction and also opened the door to churn as the payment experience caused customers to continually re-evaluate their purchase of the subscription. The chainEDGE team was also spending hours every week chasing down customers who had not paid.
The team realized they needed a crypto autopay solution that would improve the customer experience and eliminate all of the manual work they were doing to follow up on crypto payments. As a result, they turned to Loop and implemented Loop Crypto’s checkout to enable autopay for their users. The implementation was simple, and they were able to deploy Loop’s checkout in a matter of minutes.
chainEDGE has been live with Loop since July allowing customers to set up recurring crypto payments for monthly, quarterly, or annual subscription payments. Customers simply go through the Loop checkout once to enable autopay, and then Loop’s automation does the rest. When the next payment is due, funds are automatically pulled from the customer’s wallet and sent to chainEDGE. No manual intervention is required on either side.
Another critical benefit of using Loop for chainEDGE is that it integrates with Stripe. This means that chainEDGE now has all of its customer and payment data in one place regardless of whether customers pay with fiat (via Stripe) or crypto (via Loop). This also helps to simplify operations by allowing chainEDGE to have one source of truth for subscriptions and automate access to their product based on Stripe’s webhooks.
Learn more
To learn more about chainEDGE and their comprehensive data and trading terminal, check out their website or follow them on X. You can also follow their founder Onchain Wizard and subscribe to Onchain Wizard’s Cauldron on Substack.
If you need a crypto payment solution to automate crypto subscription payments, let’s talk. Loop Crypto makes it simple to implement crypto payments for any payment model, providing a seamless customer checkout experience and saving thousands of hours by automating the management of crypto payments.
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About Loop
At Loop Crypto, we build infrastructure to unlock truly programmable money and create an open financial system. We enable crypto payments for 50+ of the top web3 companies, including Pinata, Neynar, Paragraph, Kaito, ETHGlobal, and ENS, supporting millions of dollars transacted and saving thousands of hours.
Whether the payment is one-time or recurring, Loop supports a broad range of payment use cases: subscriptions, one-time charges, recurring bill pay, loan repayments, and donations. Our integrations with Stripe, QuickBooks, and Xero make it easy to implement crypto payments within your existing operations.
If you’re ready to get started, book a call with our team to get started in minutes.
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