Time goes fast. One more year has passed, and now we are celebrating our 3rd anniversary. As for our team’s feelings, this journey has flown by like 3 days, but when we look back on the efforts we made and the results that we have now, we are proud of our teamwork. Within the last year, one update followed another, from going open-source wallet to launching a white-label program. So let’s make a small summary of what has been done already and what the future might hold.
Annual statistics of users’ activity
For the last year, we increased our user base and now it includes 500K+ users. The U.S. is still the main market for our company – almost 60% of our user base. Despite the American market still being our leading audience, we are seeing the growth of crypto interest from other parts of the world. More newcomers from the African continent have joined our “Lumi Family” within the last year, especially citizens of Nigeria, South Africa, and Kenya. As we expected, after lifting Indian’s crypto ban, Indian users also have shown increased activity. Despite our users being from different parts of the world, there is one factor that holds all of them together – the majority of users prefer to buy and store crypto assets.
We launched the “buy cryptocurrency with a credit card” feature early this year, but we’ve already seen that it was the most expected function for our users. According to statistics, our users prefer the buy & store operations more than the sell or exchange, especially in August when the Bitcoin price dropped. The cryptocurrencies Bitcoin, Ether, and USDT were bought more often. And since you increased your purchase activity, we increase our efforts to provide more security for your funds.
Users’ demands are our main priority
Security issues. All year we worked hard to provide maximum security for your wallet, and one of the most important achievements is that we became an open-source wallet. That means more transparency, security, and reliability. Our code has been double-checked dozens of times by crypto community members. Our users can be sure that Lumi is a secure crypto wallet.
Along with going open-source, our team focused on local security feature upgrades. We set limits for transactions, if somebody gets access to a user’s wallet and tries to transfer a big sum of money outside, they will have to enter a PIN code. We improved the work of the pin code, limited the number of attempts to enter it, added a wallet lock with frequent incorrect entries, prohibited copy-paste of the mnemonic in-wallet, and so on. We also prohibited logging out without using your mnemonic, and this helps to reduce the number of cases where users lose access to their funds. All our efforts are aimed at providing a high quality & secure product.
Usability and functionality. Besides the high level of security, Lumi Wallet is also associated with a user-friendly and simple-to-use interface. We care about the functionality of our wallet. First of all, we updated the web wallet, so it fully complies with the mobile version of Lumi Wallet. Within the last year, we added as many tokens as we could, as a result, 50+ new tokens and stable coins are available to purchase & exchange. For more convenience, we added push notifications, so users can always be notified when a purchase or exchange transaction has changed its status. We added 10+ new languages on both the mobile and web wallet for those users who do not speak English. As our clients are scattered around the world, we promise to continue to adapt our wallet to have a multilingual interface.
Final words from Diana Furman, CEO of Lumi Wallet
“It’s been 3 years since our cryptocurrency journey started. We are grateful to all our users and partners for their support, their trust is pushing us towards new horizons. We want to provide the best service, and we will launch credit cards, update our wallet to different languages, integrate other payment methods and a lot of more interesting news will be announced in the future. We will continuously increase our efforts to promote the Lumi brand in different countries, improve the quality and security of our project, and always stay on our clients’ side”.
The bottom line
We have a lot of different things that we have launched within the year, such as an educational video tutorial series, a widget, a white-label program, broadcasts, and so on. We do our best to give you as much information about the cryptocurrency market as we can. We will continuously increase our efforts to provide the best service for our users, and thank you for being with us on the way.