Some crypto influencers believe that more than a decade after the creation of Bitcoin, we’re still in the early days of digital currencies. This perception is reinforced by a 2019 study by the Kaspersky Cybersecurity Group, that only 1-in-10 people understand how cryptocurrencies work.
However, a new survey punches holes in that perception. According to Crypto.com, the number of people globally who have joined the advance of cryptocurrencies has doubled in the first half of 2021. From January 2021 to June 2021, the number of crypto users/investors leaped from 100 million to 200 million for a total global count of 221 million individuals.
The overwhelming majority of new users engage with cryptocurrencies for the first time on coin/token exchanges such as Coinbase, Binance, Kraken, or Gemini.
Steve Gregory, is Chief Executive Officer, U.S., at Currency.com, a fast-growing exchange that is currently available in 183 countries globally with a planned launch in the U.S. later this year. He says Currency.com is different than the other exchanges because it currently offers a wide range of investments spanning from cryptocurrencies to government bonds, major stock indices, securities, foreign exchange pairs, and commodities. There are more than 1,700 tokenized assets to choose from right now on Currency.com with plans to offer a total of 10,000.
According to Gregory, in his exclusive interview with DailyCoin CEO Martynas Kasiulis, not only is Currency.com the only tokenized asset exchange on the market, they’re making it simpler to access and use to help drive mass adoption.
“I think that people are not necessarily as familiar with a cryptocurrency platform as they are familiar with their, sort of, retail stockbrokers platform, or other platforms that are financially motivated. I think that our design is going to encompass a lot of things that you’re already used to, such as features in social media and features similar to booking AirBnB or something like that.
We want to keep it as simple as we can and make it easy for people to make that leap into cryptocurrency. We want to make it simple for them, make it trustworthy, make it regulated, and then I think we can gain some trust,” said Gregory.
Currency.com has several unique features including its information-rich content. The website offers training tutorials, more than 75 technical analysis charts, real-time price alerts, on-chain insights, and an industry news feed. All those resources are available without leaving Currency.com. Gregory says they’re there to educate and inform users.
“And I think that that’s kind of a key. People have heard of cryptocurrency, they talk about it with their friends. But actually jumping in and buying it and feeling safe and comfortable with the process, I think is something we need to work on. I think that’s going bridge the gap to greater adoption here in the US especially, probably the rest of the world too,” he said.
According to Gregory, designing an intuitive dashboard that’s easy for investors and traders to use is the next step to broader adoption. After that, he says, you want people to actually experience the various projects they’re investing in.
“Once you get access to the cryptocurrency and buy it, another thing is actually using it in practice. And I think getting access to some of the DeFi protocols or being able to engage in the properties of programmable money, we would call it, is the next leg of what retail adoption will look like,” said Gregory.
But mass adoption isn’t a “final destination” as he believes it’s a continual dialogue with the crypto curious. It’s a dialogue that creates meaningful engagement to benefit the individual investor and the exchange coders/developers as well.
“The idea is to break down these very complicated principles into very simplified terms and then relay that in the best, most receivable way to our customers. I think, one of the pillars of this company is the feedback loop with our customers. Give them what they want, in a way that they want, and understand what they want. That’s our approach going forward,” he said.
On The Flipside
- The field of cryptocurrency exchanges is becoming increasingly more crowded. It remains to be seen if simplicity will be enough of competitive advantage for Currency.com to move to the front of the pack.
- A major challenge for all crypto exchanges will be navigating increasingly choppy regulatory waters
Watch the full interview here:
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