Why crypto exchange is yet to reach the desired potentials

For a crypto exchange to survive in the competitive world of crypto exchanges, it needs to offer a great mobile experience.

The use of mobile phones has increased in the recent past which account for 5.1 billion people across the world owned a mobile device subscription, and it estimated that by 2025 this number would grow to 5.8 billion. A 4percent growth rate according to recent statistics report GSMA, it may not seem like much of the cut but if this prediction actualizes, 700 million people who did not have access to mobile devices in 2018 would gain access by 2025.

As such, for an exchange that does not offer an excellent mobile experience is not likely to survive in this competitive industry. For implementation, the crypto exchange platform needs to build a tailored made mobile version which is going to support Android, iOS, and Mac. These will create more opportunities for the crypto exchange sector, and this will also ensure that as many people as possible can access the exchange no matter where they are. As this will result in a large user base, and more frequent trading, as well as more people, get to understand crypto exchange trading. It is part of the strategy that needs to be adopted by more exchanges, as this will grow liquidity, and most people today spend most of their time on mobile devices than on desktop computers.

Finally, the adoption of crypto in many countries of the world is one challenge the industry still face today, as most governments today yet does not have full knowledge of how crypto exchanges work.

Even those countries that have adopted it, like China, they are no clear-cut regulations regarding regulating crypto exchange.

The acceptance crypto by the significant financial institution is limited, especially in Africa. Another great example the financial sector mainly is scared if crypto reaches its full potentials they won’t be central bank controlling your finances.

One of the beauties of crypto you are in control of the money, transactions are fast, unlike the regular banks. It could take three days to receive money internationally, and it reduces corruption powered by blockchain that store every transaction.

Article by Adeleye Awakan
Associate/Editor www.gbc.ng Africa’s digital gaming news portal. For consultant, Africa gambling space, Bookmaker’s review, Content, thoughtful leadership article Africa gambling industry: feel free to reach me [email protected], Linkedin Adeleye Awakan.

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