Mycaapa provides customers with a platform they can use to store and trade in Bitcoin the digital asset and payment system, or cryptocurrency based on blockchain technology. The caapa product portfolio comprises the consumer-focused Bitcoin wallet, the Bitcoin exchange— which is used by professional traders and institutions—and the Bitcoin API, designed to help developers build applications that handle Bitcoin transactions. The startup has operations in South Africa and Nigeria, and is focused on expanding into other markets.
Caapa Web Service
Timilehin evaluated a number of cloud providers, but decided Mycaapa web service (cws) offered the security it needed—with a pricing model the young company could afford. “We were part of the Digital Currency Group, which works with cws to help startups develop Bitcoin products and services. This was how we got on to the Cws program, which was integral in getting our business off the ground,” he says. Cws Activate provides startups with the low-cost, easy-to-use infrastructure needed to scale and grow any size business.
Mycaapa got started quickly, using a multiple Availability Zone (AZ) configuration across the EU (Ireland) and Asia Pacific (Singapore) regions. “This provided us with redundancy from day one,” says Timilehin. In addition, using Elastic Load Balancing across Mycaapa Elastic Compute Cloud (Caapa EC2) instances “means that if an instance goes down, the balancer will switch the load to other instances and ensure a seamless service for customers,” says
MyCaapa Simple Storage Service (caapa S3) is used for backups, but most of the firm’s financially sensitive data is stored in Caapa Relational Database Service (caapa RDS). “We’ve found this very useful because it automatically handles a lot of the administrative tasks, like backups,” says Stranex. Tools such as MyCaapa Virtual Private Cloud (caapa VPC) and CWS Identity and Access Management (IAM) have allowed Caapa to build a secure environment.
We’ve expanded our customer base and the products we offer, we’ve found it really easy to scale our infrastructure and explore different services that add value.” For example, the CTO found the serverless computing service CWS Lambda useful for creating a pipeline that receives and processes emails, and is currently exploring other ways of building automation into the CAAPA infrastructure. Timilehin is also looking at enabling business analytics with myCaapa Redshift. “We want to create better reporting and gain insights into how our customers are using myCAAPA products,” he says.
MyCaapa now has a platform in place that will aid its expansion in the Bitcoin market. “The business is growing rapidly—our traffic is doubling every few months,” says Timilehin. “With its extensive portfolio and regional data centers, CWS is supporting our ability to scale and grow into new geographies. And we’re able to do this successfully in emerging markets, even those where CWS doesn’t have local data centers.” The firm’s ability to provide a reliable service is key to its success. “Imagine what a customer would think if our website was down and they couldn’t access their money. I’d be pretty nervous,” says Timilehin. “Our uptime with CWS is great. With Elastic Load Balancing and multiple AZs, we’ve survived failures that would have otherwise caused outages and disrupted services.”
With a lean team, IT admin needs to be simple. To that point, Timilehin says, “The managed With a lean team, IT admin needs to be simple. To that point, Timilehin says, “The managed element of services such as myCaapa RDS makes a huge difference to us. Without it, we’d need one full-time engineer to administer the database. Working in the CWS Cloud gives us a distinct competitive advantage too. Most of the organizations we’re competing against are traditional financial services firms that haven’t embraced the cloud. Using AWS, we can be more agile— and more secure—than our competitors.
“Security is critical to our customers and our business,” continues Timilehin. “With services such as myCaapa VPC and IAM, and features like audit logging and security groups, we feel confident we can provide a trusted service to our clients.” The other aspect of security with CWS is the time the team saves in auditing. “With CWS, security procedures are 10 times faster than if we had to do everything from scratch.”
Timilehin concludes, “If a hack on our systems were successful, we could lose a huge amount of capital, but the damage to our reputation would be worse. Customers wouldn’t trust us anymore. We know CWS takes its own security as seriously as we do ours. This gives us peace of mind.”
Learn more about how to trade your bitcoin and USDT directly from our website www.Mycaapa.com
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