In 2024, ElliPal, a leading manufacturer of air-vented cold wallets, faced a challenge familiar to many in the crypto industry: how to improve wallet functionality, acquire new users and keep them engaged in an increasingly competitive market. To address this, ElliPal has integrated Changelly’s crypto-to-crypto exchange API. The result? Better transaction speeds, a wider range of trading options and measurable improvements in user activity and business performance.
This case study takes a closer look at the changes that this integration entails. Originally published on Blockchain reporter.
Metrics-based results: the impact of Changelly’s API integration
The integration of Changelly’s API was a critical step for ElliPal and delivered tangible improvements across key business indicators. Below are the most notable outcomes:
- Growth in transaction volume
Before the integration, ElliPal’s monthly transaction volume was approximately USDT 650,000 (January 2024), with a daily average of USDT 21,000. By October 2024, these figures had risen to 1.73 million USDT per month and 56,000 USDT per day – representing a remarkable increase. 166% increase in the total transaction volume.
- Average order value (AOV)
The average order value (AOV) also saw substantial growth, from 2,000 USDT in January to 2,600 USDT in October, which 30% increase. This indicates that ElliPal users are making larger transactions, reflecting increased confidence in the wallet’s capabilities.
- Improving retention rate
The user retention rate has increased by 3%-5% post-integration, a clear sign that Changelly’s enriched functionality has increased user satisfaction and loyalty.
This growth also highlights the formation and steady expansion of a base of loyal customers who are now more likely to stick with ElliPal for their crypto trading needs. By providing a seamless and reliable experience, ElliPal not only keeps its users engaged, but also reduces the likelihood of them turning to competitors for similar services.
- Activity statistics: DAU, WAU and MAU
ElliPal saw an increase in the number of daily, weekly and monthly active users:
- The number of daily active users (DAU) grew by 6%
- The number of weekly active users (WAU) increased by 5%
- The number of monthly active users (MAU) has increased 3%
These statistics highlight the growing engagement among ElliPal’s user base.
The convenience and reliability of the integrated service has led to more frequent use, making users more likely to return and interact with the wallet. This increase in activity has directly contributed to an increase in transactions, further improving ElliPal’s overall performance.
- Reduction of the turnover rate
The percentage of users who drop out between starting and completing transactions decreased by 4%-5%delivering a smoother, more reliable user experience.
- Bounce rate drops
Although this is not specifically tracked, ElliPal estimates a 5% reduction in bounce ratesindicating that users are now more likely to stay engaged and complete their interactions. This improvement can be attributed to the service’s user-friendly interface and simple process, which smoothly guide users to achieving their desired results.
Strategic benefits and business benefits
The collaboration with Changelly has delivered several strategic benefits for ElliPal:
Leveraging Changelly’s transparent backend management and robust reporting tools, ElliPal quickly deployed SWAP functionality with various trading pairs, bypassing the complexities of compliance management.
Faster transaction speeds and better user experience have resulted in greater user engagement and better long-term retention.
With higher transaction volumes and larger AOV, ElliPal has strengthened its revenue streams, strengthening its presence in the market.
“ElliPal’s success reflects the core value of our API: simplifying complex crypto transactions while enabling partners to grow their business metrics effortlessly.” – Zifa Mae, Head of Product at Changelly
Outlook: Future innovations with Changelly
The integration of Changelly’s API has had a significant impact on ElliPal, driving transaction volume growth, user engagement and overall business performance. By offering users a seamless way to trade cryptocurrencies, ElliPal has not only improved the functionality of its wallet but also strengthened its appeal in a competitive market.
Building on this success, ElliPal plans to expand its offering by introducing more SWAP trading pairs and additional features such as cryptocurrency buying/selling and decentralized exchange (DEX) capabilities. These future upgrades are intended to meet evolving user needs and further solidify ElliPal’s position as a trusted and innovative player in the crypto wallet industry.
Disclaimer: Please note that the content of this article is not financial or investment advice. The information contained in this article is solely the opinion of the author and should not be considered trading or investment recommendations. We make no guarantees about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional random movements. Any investor, trader or regular crypto user should research multiple points of view and be familiar with all local regulations before making an investment.