CoinEx, a crypto exchange with more than 3 million registered users in over 200 countries and regions, has launched a new brand slogan: Making Crypto Trading Easier. We interviewed Haipo Yang, the founder and CEO of CoinEx, and talked to him about topics related to CoinEx and the future development of the crypto industry.
Q: What is the rationale behind CoinEx’s new slogan – Making crypto trading easier?
ONE: Today’s crypto market has entered a new phase in terms of technological advancement, market size and user base. At its peak, the total market value of cryptocurrency reached $ 3 trillion. Bitcoin (BTC) is now one of the 10 most valuable assets in the world overtaking Facebook. Cryptocurrencies are now an integral part of global wealth, and cryptocurrencies are also affecting more and more industries and users.
At the same time, many are backing away from these technologies. In their view, the market is reserved only for technologists and professional investors. Such a stereotype is not entirely unfounded – many trading platforms are actually designed for professionals. They just keep rolling out new features and picking up all the features and products without taking into account the needs of the users, which deters many beginners.
Imagine this: an average user visits a cryptocurrency exchange to buy bitcoin. However, he is inundated with derivatives like supply contracts and European options and has no idea how he is buying Bitcoin at all. Are such platforms really intended for the general public? They assume that users need this or that, but ignore the most important fact that it is not that easy for most users to make the very first crypto trade.
Decentralized cryptotechnologies are primarily intended for the public. All crypto users deserve attention – not only the professionals but also retail investors need access to the crypto industry. The exclusion of novices and small investors goes against the crypto industry’s original mission, which is to break the financial monopoly.
Question: The CoinEx slogan update includes strategic adjustments in terms of brand, product, and technology. Can you elaborate on CoinEx’s future vision and strategic plans?
ONE: CoinEx aims to “make crypto trading easier” through products, token listing and user services.
First of all, we show restraint when it comes to products and do not offer one feature at a time. Instead, CoinEx promises to offer adequate and satisfying features. Unlike many exchanges that offer a disproportionate number of redundant features, CoinEx pursues the “EASIER” goal. That does not mean there are fewer things you can do on CoinEx. On the contrary, we try to turn complexity into simplicity by building products that meet real user needs.
In addition, we also place great emphasis on token listing. CoinMarketCap counts nearly 20,000 types of cryptocurrencies worldwide. But many of these come with significant risks. As we can see today, most trading platforms suffer from either lack of variation or unwanted assets. Because of this, our research team spends a lot of time researching the available cryptocurrencies on the market. In a way, CoinEx saves users the hassle of risk filtering and allows them to easily invest in assets, minimizing user research work.
Q: Compared to before, many professional investors such as VC firms, hedge funds and asset managers have joined the crypto market. Will this raise the investment threshold for the crypto market? Do small investors still have a chance in such a market?
ONE: Professional investors and retail investors are in no way opposed to each other. The fact that more investors have come to the industry is a recognition from the market and brings more liquidity to the crypto area. It is natural for an established market to attract different investors, but that does not mean that there are no opportunities for retail investors.
Here we can compare the crypto market with conventional financial markets. In a conventional financial market, the large investment banks are inherently centralized. Before a company can go public, it must go through a complicated process. Therefore, shares can only be issued through large institutions, while the primary markets are reserved only for professional investors. Retail investors, on the other hand, are kept out of this process.
Such a centralized monopoly has a high price and creates a high threshold. Basically, the issuance of shares provides funds for project teams and creates investment opportunities for investors. However, intermediaries such as investment banks and VC companies do not improve capital efficiency. Blockchain and crypto technologies have created a new decentralized solution that enables retail investors to participate directly in the primary markets through IDO and IEO, breaking the monopoly of professional investors.
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