CoinEx, a crypto change that serves greater than 3 million registered customers in over 200 international locations and areas, has adopted a brand new model slogan — Making Crypto Trading Easier. We interviewed Mr. Haipo Yang, CoinEx’s founder and CEO, and mentioned matters regarding CoinEx and the longer term growth of the crypto trade.
Q: What are the issues behind CoinEx’s new slogan — Making Crypto Trading Easier?
A: Today’s crypto market has entered a brand new stage by way of technological progress, market scale, and consumer base. At its peak, the overall market cap of cryptocurrency approached $3 trillion. Meanwhile, surpassing Facebook, Bitcoin has turn out to be one of many 10 most respected belongings globally. Cryptocurrency is now an integral a part of world belongings, and crypto applied sciences are additionally influencing extra industries and customers.
At the identical time, many are daunted by crypto applied sciences. In their view, the market is reserved for geeks {and professional} buyers solely. Such a stereotype is not wholly unfounded — many buying and selling platforms on the market are certainly designed for professionals. They simply hold introducing new capabilities and pile up all options and merchandise with out contemplating consumer capabilities, which discourages many newcomers.
Picture this: An common consumer visits a crypto change to purchase Bitcoin. However, swamped by derivatives like supply contracts and European choices, he has no thought how to purchase Bitcoin in any respect. Are such platforms actually designed for most of the people? They suppose customers would possibly want this or that however ignore crucial proven fact that for many customers, it is not that straightforward to full the very first crypto commerce.
Decentralized crypto applied sciences are created to serve the general public within the first place. All crypto customers deserve respect —not solely simply the skilled, but additionally retail buyers, deserve entry to the crypto trade. The dismissal of newbies and retail customers goes counter to the crypto sector’s unique mission, which is to break the monetary monopoly.
As such, we work to take away customers’ misgivings concerning the crypto trade and break monetary shackles. We need to ship a message that crypto buying and selling is a stage taking part in area and that finance is certainly not the privilege of sure teams of individuals. We will construct a bridge that connects customers with the crypto house. As a gateway to the crypto market, CoinEx helps customers full every crypto transaction with ease.
Q: The slogan improve of CoinEx includes strategic changes by way of branding, product and expertise. Could you make clear the longer term imaginative and prescient and strategic plans of CoinEx?
A: CoinEx will “make crypto trading easier” by way of product, token itemizing, and consumer providers.
First of all, when it comes to merchandise, we train restraint and by no means pile capabilities upon capabilities. Instead, CoinEx guarantees to provide adequate and satisfying capabilities. Unlike many exchanges that supply an extreme variety of redundant capabilities, CoinEx pursues “EASIER”. This doesn’t imply that there are fewer issues you are able to do on CoinEx. On the opposite, we purpose to flip sophistication into simplicity by constructing merchandise that meet actual calls for.
In addition, we additionally connect nice significance to token-listing. CoinMarketCap reveals almost 20,000 kinds of crypto belongings globally. However, lots of them include nice dangers. As we will see at the moment, most buying and selling platforms undergo from both a scarcity of variety or rubbish belongings. This is why our analysis staff spends loads of time screening the cryptos accessible available in the market. To a sure extent, CoinEx saves customers the difficulty of threat filtering, permitting them to make investments simply in belongings minimizing customers’ workload.
Last however not least, CoinEx emphasizes consumer service. Here at CoinEx, we provide skilled, environment friendly and thoughtful consumer providers. When newbies are confused with crypto-related merchandise, which is ceaselessly the case, they can all the time flip to our intuitive newbie guides, all-encompassing assist paperwork and humanitarian consumer help. CoinEx respects every unusual consumer by way of first-rate providers.
Q: Compared with the previous, {many professional} buyers like VC companies, hedge funds, and asset managers have joined the crypto market. Will this raise up the funding threshold of the crypto house? Do retail buyers nonetheless have an opportunity in such a market?
A: Professional buyers and retail buyers are not in an antithesis relation. The proven fact that extra buyers have joined the trade comes as a recognition of the market and injects extra liquidity into the crypto house. It is pure that a longtime market will appeal to numerous buyers, however that doesn’t imply there are no alternatives for retail buyers.
Here, we will evaluate the crypto market with typical monetary markets. In a traditional monetary market, giant funding banks are inherently centralized. An organization wants to undergo a sophisticated course of earlier than it will probably go public. As such, shares can solely be issued by way of huge establishments, whereas main markets are unique to skilled buyers. Retail buyers, then again, are stored out of this course of.
Such a centralized monopoly incurs costly prices and creates a excessive threshold. Essentially, inventory issuance affords funds to mission groups and creates funding alternatives for buyers. Meanwhile, middleman gamers like funding banks and VC companies don’t enhance capital effectivity. Blockchain and crypto applied sciences have introduced a brand new decentralized resolution that permits retail buyers to straight take part in main markets by way of IDO and IEO, thereby breaking the monopoly {of professional} buyers.
Over the previous few years, we’ve seen many new makes an attempt within the crypto trade, overlaying DeFi, meme and Play-to-Earn. Many of those new classes are neither created by skilled merchants, nor are designed for large establishments. The crypto sector is now accessible to all, which implies that each investor has the chance to revenue from cryptos.
Q: During the final two years of speedy development, CoinEx has all the time prioritized consumer experiences and consumer calls for. How do you place “EASIER” into observe throughout fixed product iterations? In the longer term, what are your priorities for streamlining the buying and selling expertise?
A: We have been specializing in mechanisms, interplay, and content-guided when upgrading CoinEx merchandise. Users use a product to meet their meant objectives. As such, “EASIER” implies that we should always assist customers meet such objectives as rapidly as attainable.
As for product mechanisms, we hope that customers can meet their objectives by way of the best operations. For occasion, Swap, a brand new characteristic just lately launched by CoinEx, helps customers meet one easy aim, which is to swap one kind of cryptocurrency for an additional. Unlike different swap merchandise that usually ask customers to account for classy phrases reminiscent of slippage, market value, and restrict value, CoinEx Swap is backed by a set of independently developed sensible algorithms, which solely requires customers to enter the goal cryptos and the swap quantity, and every part else will likely be dealt with by CoinEx. With Swap, customers profit from quick conversions at glorious costs.
Other than mechanisms, we additionally worth interplay, which covers webpage interplay and visible guides. Instead of stacking up all of the capabilities and data on one web page, CoinEx strives for easy content material that permits customers to spot the perform they want on the first look. Moreover, we’ll hold enhancing our textual content introductions and product descriptions in content material pointers, serving to all customers get began with CoinEx immediately by way of easy, intuitive expressions.
During the interview, Haipo Yang additionally talked about that the development of consumer experiences is a unending course of. According to him, product growth requires unremitting efforts. CoinEx insists that crypto belongings needs to be made accessible to most of the people. It goals to “break financial shackles” and attempt for “EASIER” with user-centered design (UCD) or user-driven growth (UDD) by enhancing its merchandise. We have each cause to imagine that pushed by CoinEx’s efforts, the crypto buying and selling sector will present new alternatives for extra retail buyers.
