What are crypto currency exchanges doing to foster crypto adoption?
What are crypto currency exchanges doing to foster crypto adoption?
I can’t count on my fingers, the numerous barriers posing as hindrance to the wider range of crypto adoption in various countries or globally.
-We have a lack of understanding of crypto and blockchain as a major barrier.
-Security concerns: Fear of getting hacked or scammed.
-The volatile nature of cryptocurrencies: Losing funds due to the volatile nature of cryptocurrencies.
-Regulatory concerns.
-Poor user experience but to name a few.
We can argue that the crypto industry is still relatively new, but what roles are exchanges playing or what are they doing to foster its adoption amidst these various challenges?
One wouldn’t deny the fact that many exchanges most especially the centralized ones have provided ease or educational materials to cryptocurrency learning. Even the platforms are most at times easy to use since they provide Demo to mostly newbies and it has grown the adoption rate.
Nonetheless as a bitcoin Maximalist, I feel like the way this centralized exchanges spread the adoption or cryptocurrency awareness they tend lean away privacy concerns of users since it comprises their own platform. CEX will gladly advise users that their funds are save with them which is entirely not true. And just like what OP has said one of the reason for cryptocurrency apathy by some people is because of the fear of hacks which are mostly common to saving funds on exchanges.