CoinEx, a crypto exchange that serves more than 3 million registered users in more than 200 countries and territories, has adopted a new brand slogan – Making Crypto Trading Easier. We interviewed Mr. Haipo Yang, founder and CEO of CoinEx, and discussed topics about CoinEx and the future development of the crypto industry.
Q: What are the considerations in CoinEx’s new slogan – Making Crypto Trading Easier?
A: The crypto market has now entered a new stage in terms of technological advancement, market scale, and user base. At its peak, the total cryptocurrency market cap approached $ 3 trillion. Meanwhile, beyond Facebook, Bitcoin has become one of the 10 most valuable assets globally. Cryptocurrency is now an integral part of global assets, and crypto technology is also affecting the industry and other users.
At the same time, many are afraid of crypto technology. In my opinion, the market is only for geeks and professional investors. The stereotype is unfounded – many of the trading platforms out there are actually designed for professionals. They just keep introducing new functions and stacking all the features and products without considering the capabilities of the user, which leads to a lot of new people.
Picture this: The average user visits a crypto exchange to buy Bitcoin. However, flooded with derivatives like European delivery contracts and options, they don’t know how to buy Bitcoin. Is the platform really designed for the general public? He thinks that if a user needs this or that, but ignores the fact that it is most important for the general public, it is not easy to complete a crypto trade for the first time.
Decentralized crypto technology was created to serve the public in the first place. All crypto users deserve respect – not only professionals, but also retail investors, deserve access to the crypto industry. The dismissal of startups and retail users goes against the original mission of the crypto sector, which is to undermine financial monopolies.
So, we can allay users ’worries about the crypto industry and remove financial shackles. We want to send a message that crypto trading is a level playing field and finance does not mean a privilege for a particular group of people. We will build a bridge that connects users with the crypto space. As a gateway to the crypto market, CoinEx helps users complete every crypto transaction with ease.
Q: Upgrading the CoinEx slogan includes strategic adjustments to its brand, products and technology. Can you explain CoinEx’s future vision and strategic plan?
A: CoinEx will “make crypto trading easier” through its products, token lists, and user services.
First of all, when it comes to products, we control and never perform that function. However, CoinEx promises to provide adequate and satisfying functionality. Unlike many exchanges that offer a lot of redundant functionality, CoinEx pursues “EASIER”. This does not mean that there are a number of things that can be done in CoinEx. Conversely, we aim to turn sophistication into simplicity by building products that match real demands.
In addition, we are also very important to the token list. CoinMarketCap shows almost 20,000 types of crypto assets around the world. However, many have great risks. As you can see now, generally trading platforms suffer from a lack of diversity or waste assets. This is why our research team spends a lot of time screening cryptos available in the market. To some extent, CoinEx saves users the hassle of filtering risk, allowing them to invest easily in assets minimizing user workload.
Last, but not least, CoinEx emphasizes user service. At CoinEx, we offer professional, efficient and considerate user services. When beginners are confused with crypto -related products, which often happens, they can always turn to an intuitive beginner’s guide, all -inclusive help documents and humanitarian user support. CoinEx honors every regular user through its first level service.
Q: Compared to the past, many professional investors like VC companies, hedge funds, and asset managers have joined the crypto market. Will this raise the crypto space investment threshold? Do retail investors still have opportunities in these markets?
A: Professional investors and retail investors are not in an antithesis relationship. The fact that more investors are joining the industry is a recognition of the market and injects more liquidity into the crypto space. It is natural that an established market will attract a variety of investors, but this does not mean that there are no opportunities for retail investors.
Here, we can compare the crypto market with the conventional financial market. In conventional financial markets, large investment banks are truly centralized. Companies have to go through a complicated process before they can go public. So, stocks can only be issued through large institutions, whereas the main market is exclusive to professional investors. Retail investors, on the other hand, are not in the process.
These centralized monopolies result in expensive costs and create high thresholds. Essentially, stock issuance offers funding to project teams and creates investment opportunities for investors. Meanwhile, intermediary players like investment banks and VC firms are not improving capital efficiency. Blockchain and crypto technologies have brought new decentralized solutions that allow retail investors to directly participate in primary markets through IDOs and IEOs, thus breaking the monopoly of professional investors.
In the past few years, we’ve seen many new efforts in the crypto industry, including DeFi, memes and Play-to-Earn. Many of these new categories are not created by professional traders, or designed for large institutions. The crypto sector is now accessible to all, which means every investor has the opportunity to profit from cryptos.
Q: During its last two years of rapid growth, CoinEx has always focused on user experience and user demand. How do you do it “EASIER” while repeating a product? In the future, what are your priorities to accelerate your trading experience?
A: We have focused on mechanisms, interactions, and guided content when upgrading CoinEx products. Users use the product to achieve their intended goals. So, “EASIER” means we need to help users reach their goals faster.
For the product mechanism, we hope the user can reach the goal through the easiest operation. For example, Swap, a new feature recently launched by CoinEx, helps users to achieve one easy goal, which is to exchange one type of cryptocurrency for another. Unlike other swap products that often ask users to enter complicated terms such as slippage, market price, and limit price, CoinEx Swap is supported by a set of independently developed intelligent algorithms, which only require users to enter target cryptos and swap amounts. , and everything else will be handled by CoinEx. With Swap, users benefit from fast conversions at a great price.
In addition to mechanisms, we also value interactions, which include web page interactions and visual cues. Instead of stacking all the functions and information on one page, CoinEx strives for simple content that allows users to find the functionality they need at first glance. In addition, we will continue to add text introductions and product descriptions in the content guidelines, helping all users get started with CoinEx directly through simple and intuitive expressions.
During the interview, Haipo Yang also mentioned that improving the user experience is a never -ending process. According to him, product development requires unrelated efforts. CoinEx insists that crypto assets should be available to the general public. It aims to “remove financial shackles” and strive to be “EASIER” with user -centered design (UCD) or user -centered development (UDD) by adding products. We have reason to believe that driven by CoinEx’s efforts, the crypto trading sector will provide new opportunities for other retail investors.
