In 2024, ELLIPAL, a leading manufacturer of air-gapped cold wallets known for its highly secure and innovative solutions, 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 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 move not only boosted transaction volumes but also reinforced ELLIPAL’s position as a cutting-edge brand in the crypto wallet space.
This case study takes a closer look at the changes brought about by this integration.
Metrics-Driven Results: The Impact of Changelly’s API Integration
The integration of Changelly’s API was a pivotal step for ELLIPAL, delivering tangible improvements across key business indicators. Below are the most noteworthy outcomes:
Transaction Volume Growth
After integration, ELLIPAL’s monthly transaction volume and daily average saw significant growth in 2024—representing a remarkable 166% increase in total transaction volume.
Average Order Value (AOV)
The average order value (AOV) also saw substantial growth, increasing from 2,000 USDT in January to 2,600 USDT in October, marking a 30% rise. This indicates that users are engaging with larger transactions, reflecting growing confidence in the security and functionality of ELLIPAL’s wallet.
Retention Rate Improvement
User retention rates increased by nearly 5% post-integration, a clear sign that the enriched functionality provided by Changelly has promoted user satisfaction and loyalty. This boost in retention underscores the success of ELLIPAL’s user-focused approach to innovation.
This growth also highlights the formation and steady expansion of a base of loyal customers who are now more likely to stay with ELLIPAL for their crypto trading needs. By providing a seamless and reliable experience, ELLIPAL keeps its users engaged and, besides, reduces the likelihood of them turning to competitors for similar services.
Activity Metrics: DAU, WAU, and MAU
ELLIPAL observed an uptick in daily, weekly, and monthly active users:
Daily Active Users (DAU) grew by 6%
Weekly Active Users (WAU) increased by 5%
Monthly Active Users (MAU) rose by 3%
These metrics highlight the growing engagement levels among ELLIPAL’s user base.
The convenience and reliability of the integrated service have encouraged more frequent use, making users more likely to return and interact with the wallet. This increase in activity has directly contributed to a rise in the number of transactions, further boosting ELLIPAL’s overall performance.
Churn Rate Reduction
The rate of users dropping off between starting and completing transactions decreased by around 4%, showcasing a smoother, more reliable user experience. This decrease in churn reflects the enhanced ease-of-use and functionality that users enjoy with ELLIPAL’s platform.
Bounce Rate Decline
Though not specifically tracked, ELLIPAL estimates a 5% reduction in bounce rates, suggesting 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 straightforward process, which guide users smoothly toward achieving their desired results.
“Thanks to our partnership with Changelly, we are able to quickly launch swap functionality, providing the most efficient and secure swap services to meet our users’ needs.”
-–0xfate, Head of Product at Ellipal
Strategic Advantages and Business Benefits
The collaboration with Changelly has unlocked multiple strategic advantages for ELLIPAL:
Expanded Market Reach
By leveraging Changelly’s transparent backend management and robust reporting tools, ELLIPAL quickly implemented SWAP functionality with diverse trading pairs, bypassing the complexities of compliance management. This integration allowed ELLIPAL to further extend its footprint globally, enabling users across regions to have seamless access to secure and efficient crypto transactions.
Enhanced User Stickiness
Faster transaction speeds and a better user experience have resulted in higher user engagement and improved long-term retention. This partnership has further solidified ELLIPAL as a trusted provider of crypto security, attracting users who prioritize reliability and speed.
Revenue Growth
With higher transaction volumes and larger AOV, ELLIPAL has strengthened its revenue streams, cementing its market presence. This growth validates ELLIPAL’s strategy of continuously improving wallet functionality and providing superior user value, leading to more consistent business performance.
“ELLIPAL’s success reflects the core value of our API: simplifying complex crypto transactions while empowering 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 significantly impacted ELLIPAL, driving growth in transaction volumes, user engagement, and overall business performance. By providing users with a seamless way to trade cryptocurrencies, ELLIPAL has not only enhanced its wallet’s functionality but also strengthened its appeal in a competitive market.
Building on this success, ELLIPAL plans to expand its offerings by introducing more SWAP trading pairs and additional features like buy/sell cryptocurrency and decentralized exchange (DEX) capabilities. These future upgrades aim to meet evolving user needs and further solidify ELLIPAL’s position as a trusted and innovative player in the crypto wallet industry.
Through these innovations, ELLIPAL will continue to set the bar for security, usability, and performance in the crypto wallet space.
Opportunities for Changelly’s New Partners
Changelly is excited to celebrate the success of its partners, who share the same mission: to drive crypto adoption worldwide.
On December 12, Changelly announced an exclusive opportunity for new partners worldwide. The company invites businesses to join its API partnership program by the end of 2024, offering a $10,000 marketing campaign as part of the collaboration.
Partners can submit API requests in December and have the flexibility to complete integration and launch campaigns at their convenience.