Updates On Our User-Centric Cryptocurrency Exchange Platform

Published: May 13th, 2023
Exolix Team
Founder, Exolix
$900K
revenue/mo
3
Founders
40
Employees
Exolix
from Kyiv, Ukraine
started October 2018
$900,000
revenue/mo
3
Founders
40
Employees
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Hello again! Remind us who you are and what business you started.

Hello! Here at Exolix, we think of ourselves as a team of passionate, driven people who know something about cryptocurrency. Here is a link to our starter story. You can read it before you familiarize yourself with this follow-up.

Indeed, we have plans to establish ourselves as emerging leaders in our field. We are going to do that through sheer dedication to our target customers, reliance on invocation, and good, old-fashioned hard work. We believe in the particular product that we are offering - our anonymous cryptocurrency exchange.

It is a great tool for people with varying degrees of cryptocurrency-related needs. Even someone who only needs to transfer crypto once a month is considered a part of our target audience. To put it bluntly, our aim always was to reach a broad audience.

People who interact with crypto frequently know exactly what kind of service they need, and we took that into consideration when coming up with our core idea for the product. On the other hand, an average Joe with no understanding of the market will be able to appreciate our fixed rates.

There are last-moment fluctuations or anything like that. We also decided not to cap the maximum sum you can exchange. Essentially, we cater to anyone who needs to process a crypto transaction. As a one-off, twice, or every day, it does not matter much. What matters is that we provide a swift and reliable service with some top-notch tech behind it.

Our platform's number of unique users continues to rise, which is great news. We are finally making substantial progress and feel confident about our future. That said, sometimes it feels like all the countable measures of the progress we have accumulated pale in comparison to the fact that our project is getting closer and closer to the perfect vision we had in our heads in the beginning.

That's what matters the most, at least from our point of view.

If you are persistent enough, it will all work out in the end.

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Tell us about what you’ve been up to. Has the business been growing?

Our belief is that you just cannot allow yourself to get complacent. Ever. You always have to be doing something. To some, it might seem like the most tiring approach ever, but it has worked very well for us thus far. Since we last talked, our business has grown in leaps and bounds.

We attribute all of that to our hard work and the continuous effort put in by each and every member of our team. As they say, success has many fathers. We can all boast of being the fathers of our success because we never stop working, which is the key thing we want to point to regarding the biggest contributing factor.

We know there are bigger, better-funded companies, but none have the drive and passion we do. That's what keeps us going every single day.

Talking about milestones might get a little too techy for everyone's liking, so we are going to focus on something that everyone can appreciate. Our brand-new design. We did a complete overhaul, and the end result exceeded our expectations. It is not just about the visuals; it's also about adding new features, such as the floating rate option, widgets, and third-party features.

Our team grew, and now we have 40 people on our payroll.

A healthy work environment is the best way to combat any challenges.

In addition, we brokered several lucrative deals with companies that both understand and share our drive for success and have proven their trustworthiness in the past. For instance, we partnered up with several cryptocurrency wallets (Temple Wallet), coins, and aggregator sites (Swapzone and others). Recently, we have partnered with a number of amazing crypto wallets such as Exodus - A Huge Crypto Wallet for Desktop & Mobile, which is used worldwide by more than a million users. We are very proud of the cooperation with each of our partners, and we hope that soon we will be able to announce new collaborations.

Also, several web-based publications wrote positive articles about us. Our favorite was the TechPcvipers piece by Anastasiia Williams.

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The modern world demands pace, so we are excited to give our users something to speed up their crypto-related dealings. We launched the official Exolix app, which proved to be a huge success. It gave people exactly what they wanted, a way to quickly transfer crypto while on the go.

Having an in-demand app is a very nice starting point for moving forward. Remember that it is always a work in progress, so you must fine-tune things and constantly add shiny new features. It seems like the app is going to take on a more important role than some people ever expected.

What have been your biggest challenges in the last year?

We have been trying to solve day in and day out by perfecting the service. It might sound too broad, but this has so many facets. We tried to stay on top of all the present-day trends to make adjustments, and there have been many improvements in general. There are more crypto pairs, better-fixed rates, easier exchange processes, and a more fluid app experience.

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On a more personal level, there have been some struggles. Burnout is something that you cannot escape if you work long enough. One more thing is this persistent fear of not being able to keep up with the changes or retain our existing user base. It is not something that is talked about nearly often enough. People need to be more open about how insanely competitive this niche has become.

What have been your biggest lessons learned in the last year?

There were some mistakes made along the way. For instance, in the beginning, we had no idea of our target audience. We had to adjust and readjust a few times during the planning stages, which was somewhat frustrating.

The best decision that one can make through the process of making something out of nothing is to avoid dwelling on mistakes that you have made along the way. If you are persistent enough, it will all work out. We cannot attribute any positive changes to luck since we don't believe it. To paraphrase Brian Tracy, it is easy to predict - show up more, do more, and that's it.

There was, however, an important lesson that we all learned - in times of trouble or in search of success, you need to surround yourself with open-minded, intelligent people. The people that will rise to the occasion no matter what. A healthy work environment is the best way to combat any challenges.

What’s in the plans for the upcoming year, and the next 5 years?

There's this saying about making God laugh, right? We think having a solid vision for the future is important, but things change, and there is always an exciting new opportunity or something we've never even thought about. Not to say that we do not have any plans for the foreseeable future. We do. Both long-term and short-term. One of our most important plans for the future is adding a crypto-fiat exchange option. We also plan to reach a staff size of at least 60 people since you must scale accordingly. Generating more business partnerships is also on the agenda.

We do not have a 5-year plan that is set in stone. Committing to too many long-term goals is difficult when your business is constantly growing and changing in line with the trends. The most exciting thing we are looking forward to is a certain partnership that has been brewing for quite some time now. We cannot divulge much since this is currently a fairly big deal.

What’s the best thing you read in the last year?

There is this Robert Sutton book called "Weird Ideas That Work." We were always interested in out-of-the-box thinking and thought it was a great book. Here's a quote from the book:

"Support a few crackpots, heretics, and dreamers, especially if they are wildly optimistic about their ideas."

It's a tad silly, but we think you have to be extraordinary to enjoy success beyond the ordinary. All the beautiful lessons from the book are focused on how creativity can propel you to success, how passionate people can influence and support others, and how every person has something of value that can inspire and help others.

Advice for other entrepreneurs who might be struggling to grow their businesses?

Now, this is a good question! It's something that we think about a lot. The big thing we are advocating for is not being afraid to take risks. Doing something is almost always better than doing nothing. Also, if you take risks, you step outside your comfort zone and are more likely to succeed in the long run. Fear is a fleeting emotion. It's part of life.

The key is not to let it consume you. Be brave and good things will happen to you.

Another big thing is always being open. You have to be open to change, difficulties, and adjustments. To harken back to the quote from the book, you really have to come up with something that is different. Your product has to be different, and your approach to doing what you do must also be different.

One of the common mistakes that we see people make is that they are afraid to believe in themselves. They won't take risks or listen to what their gut has to say. Instead, they listen to all the nay-sayers they can find. That someone doubts your ideas and skills says more about them than you. They believe that you won't succeed only because they didn't.

One more thing that we find odd is when a company markets itself as a family while hiring people. We are a team. Not a family. Family is a loaded word that should not be tossed around like that.

Are you looking to hire for certain positions right now?

We are always open to hiring additional team members. We are not ready to give you any specific details right now, but if someone reading this sends us an email asking us for a job, we'll be happy to discuss it. The email address that you can send an application to is [email protected]. Be sure to include your qualifications and a short explanation about what makes you the right person for our company.

Where can we go to learn more?

We are pretty active on social media. Our company puts a lot of value into creating a compelling social media presence. You can reach us or learn more via: