Why Exchanges Need To Improve User Experience For More Adoption

Published on: 07 October 2021 Last Updated on: 03 September 2024

You might have thought, what is the reason behind Cryptocurrency adoption taking so long? It has already been a decade since the first-ever Cryptocurrency Bitcoin was launched. Still, people are hesitant when it comes to Cryptocurrency Adoption.

Now the question is why? As the reason is, many investors have pointed out the not-so-cool user-friendliness of exchanges. On the other hand, some excellent bitcoin revolution login platforms are considered one of the best Crypto trading platforms.

If you are a Crypto Trader, you should answer the following questions.

While making a trade, what problem do you usually face?

Do you have a proper understanding of the price fluctuation of the market?
For overviewing of the market, are there any tools that help you with that?

The answers to all these questions are related to the user experience offered by the Crypto Trading platforms. For accelerating Crypto trading, there have to be more Crypto exchanges like Bitcoin Revolutions, which will offer quality guidance.

Why Exchanges Need To Improve User Experience For More Adoption

Whenever you talk about any of the digital devices in this digital world, the first thing to be considered and checked is the user experience. With the advancement of technology, things are becoming simpler in a complicated way.

In order to get access to those simpler things, you first need to learn the complicated way in which they are being operated. For example, online money transfer has made our life easier and saves a lot of time.

But in order to transfer money online, you will need to know how to operate the platform, using which you will transfer your money. The same goes for more Cryptocurrency. This is why user experience has to improve for better adoption.

1. Functionality

A good user interface has to be always created by keeping the user in mind. The users can be anyone, from a beginner of the Crypto world to an experienced old investor when it comes to the Cryptocurrency world.

The user interface of the exchange has to be clean and user-friendly. Only then a beginner trader will be able to understand everything properly. Some features, such as filtering and sorting, are not at all common for most software or tools. It restricts the user from getting to know the market properly.

2. Ease Of Use

The best way of understanding the whole user experience thing is how comfortably you are interacting with the help of any device or website. Along with this, you also have to keep track of the feasibility, speed of the platform, easily understand the application, and smooth navigation.

We are living in a world where everything has become digital or shifted to the online world. Many businesses are providing their customers with services or products online. It means you have to be really efficient and also fast in grabbing whatever opportunity you are getting.

3. Credibility

Whenever we meet a new person, it usually takes around 0.1 seconds to leave a good impression on that individual. But when it comes to a website, the time reduces to half, i.e., 0.05 seconds. So, the website’s user interface must be easy to understand.

Whenever you find a website that has created a good impression on you, you will start navigating the website to see what other things it has to offer you. Just the same way a website works, the Cryptocurrency trading platforms or exchanges also work the same way.

User Experience Is All

While developing a Cryptocurrency exchange, a developer has to keep all these things in mind. The professional has to consider the requirements of a beginner and also of an experienced trader and combine them in the right way to present a reliable and efficient solution for all types of users. So, by improving the user experience, the adoption rate of Cryptocurrency can be accelerated.

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Mashum Mollah

Mashum Mollah is the feature writer of Search Engine Magazine and an SEO Analyst at Real Wealth Business. Over the last 3 years, He has successfully developed and implemented online marketing, SEO, and conversion campaigns for 50+ businesses of all sizes. He is the co-founder of Social Media Magazine.

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Is there a Place for Bitcoin in the Fashion World?

When Satoshi Nakamoto's whitepaper for a new cryptocurrency was given a life, many expected Bitcoin to be adopted by nerds or enthusiasts who live by their own rules. But Bitcoin secured a permanent place in history as the world's first cryptocurrency. From its humble beginnings, it established applications that have disrupted politics, media, finance, governance, and more. Fashion and cryptocurrency It's a popular myth that Bitcoin's (and the other altcoins) only purpose is to make traders money on the cryptocurrency market. But not everyone checks up the Bitcoin price because they want to invest in cryptocurrency. Luxury brands can benefit from blockchain because it helps authenticate items and prevent counterfeiting, thus earning them an honorable reputation. Blockchain can also act as "social tokens" that build community among crypto-enthusiasts, making luxury brands more desirable for their exclusivity. Practical uses of blockchain and Bitcoin in the Fashion World Authentication of goods A new wave of companies is using the blockchain to certify that their products are authentic. The seamless integration of the blockchain into e-commerce platforms allows shoppers to get more information about a product, including its provenance and how it was made. A QR code may be used on the packaging of authentic designer products, which can be scanned by smartphone users to verify their authenticity. Cryptocurrency payments Blockchain technology can be used to improve the efficiency of payments between parties at different stages of the supply chain. Bitcoin's blockchain was designed with the goal of creating an entire financial system that is decentralized without having to trust any third party. Using blockchain, fashion brands can receive payments internationally quickly, securely, and economically. Product lifecycle tracking As more luxury brands adopt digital solutions, it is becoming increasingly necessary to track product life cycle events. With blockchain ad authentication, brands can better understand how their product is affecting the environment and manage the full life cycle of their goods. Tackling ethical issues in Fashion With the rising public consciousness about ethical issues related to apparel, blockchain technology will be able to address these concerns in a more elegant way that will allow brands to be more aware of their manufacturing practices. This will further encourage manufacturers to be more conscious of their ethical responsibilities. The Future of NFT in Fashion What is NFT? It is a digital-only item that can be traded much like a real-life artifact. Unlike images that can be endlessly broadcasted online without belonging to anyone, NFTs are carefully curated into an immersive experience that gives you the impression of owning something physical. NFT's are seen as the future of Fashion In March 2021, street lifestyle brand RTFKT sold more than $3m worth of new season sneakers in just seven minutes through an NFT. As the debate about the value of digital goods continues, consumers are starting to use cryptocurrencies to acquire luxury products. A new class of customers is paying for luxury items upfront, with cryptocurrencies tied to the value of a real-world property. Nike, Burberry, and Louis Vuitton already have NFTs for their brands, and many others follow. Fashion fans paying with Bitcoin While the majority of fashion brand clients do prefer to pay with a traditional method, there is a growing demographic of individuals who enjoy cryptocurrency, especially those who have made money from it. These crypto enthusiasts want to buy Bitcoin with Paybis and purchase their fashion goods with it. Some watch brands (like Hublot) are already embracing the change and will allow purchasing with Bitcoin on their online store. Bitcoin loyalty points Cryptocurrency can be implemented into a loyalty or rewards program, offering users incentives for purchasing from brands that accept cryptocurrencies. The amount in Bitcoin can be stored in the crypto wallets of the customers if they want to trade it at a later stage for a higher amount. Merchants that accept cryptocurrencies as a form of payment may also benefit from the advantages traditional customers have. In aggregate, 36% of customers that use cryptos to make purchases have average incomes of over $100k and purchase amounts of around $450 per order. This is compared to about half that ($200) for customers who do not use cryptos. Summary Bitcoin and non-fungible tokens have a decisive role in the fashion world because they allow consumers to buy goods from faraway places as well as verify their authenticity. Fashion items can be costly, so these two technologies will prevent the industry from taking advantage of scammers and counterfeiters. Not only that, reward systems and loyalty programs can save customers a ton of money, given the fact they already save from the cheaper transaction rates. Read Also: Types of Bitcoin Trading with Parameters Why Entrepreneurs Should Pay Attention To Cryptocurrencies In 2021 What Is The Concept Of ‘HODL’ Which Everyone Is Talking About In Bitcoins Bitcoin’s 10th Birthday: Does Satoshi Nakamoto’s White Paper Still Hold Relevance?

What To Know About The Royal Bank Of Scotland?

Scotland-based NatWest Group plc is a holding company for British banking and insurance. The firm manages a wide range of banking brands. NatWest Markets, Coutts, National Westminster Bank, and Royal Bank of Scotland are its principal subsidiary companies in the United Kingdom. Recently, Capital.com showed that the RBS share prices surpassed their 200-day moving average. A wise investment involves more than merely purchasing a stock at a discount. It is the result of a thorough investigation of the state and prospects of a firm. For those who are considering purchasing RBS stock, it is worthwhile to emphasize three areas of interest: Overview: Unstable historyRebrandingShares owned by the government Read further to decide whether you should invest in RBS shares or not. Unstable History Under the leadership of its CEO, Fred Goodwin, RBS expanded quickly, even compared to its rivals. With assets of £1.9 trillion, it acquired a portion of Dutch bank ABN Amro in 2007 and rose to the position of the largest bank in the world. As the money supply was ending, RBS massively overextended itself. The government's pressure failed. So, the state was compelled to intervene and acquired a 79% stake in the bank. Then Goodwin was fired in October 2008. Rebranding To manifest the "beginning of a new era" for the bank, RBS changed its name to NatWest Group. RBS was understandably eager to get past its connection to the 2008 financial crisis and its £45 billion public rescue. According to reports, the name change won't affect the services offered to present clients. NatWest Markets, its loss-making investment banking subsidiary, is being reorganized and simplified to increase profitability. Shares Are Owned By The Government. In 2008, the UK government purchased 82% of the Royal Bank of Scotland shares with that £45 billion state rescue. As a result of the government selling up some of its interests over time, public ownership made up about 62 percent of the total. However, it had recently returned shares worth 1.2 billion pounds to the bank, now called NatWest Group, reducing the government's ownership to 48.1% from 50.60%. How Do They Currently Manage Your Investments? The Coutts Asset Management team is in charge of looking after the investments of Royal Bank Premier clients. Before the market crash, they had previously decided to limit their holdings in smaller companies, such as small and mid-capitalization stocks, since they can be riskier. They added to their holdings of UK equity, which included 'value' stocks in the financial and healthcare sectors. Your investments will still be monitored and diversified to reduce risks and seize opportunities. Conclusion The stock market has had an erratic year. The Ukraine conflict, rising inflation, and the potential for a recession have spurred the further fall of share prices. The RBS share price has been no exception, and it saw an all-time low price in February 2020. However, in May 2021, it again started gaining traction and today holds a good price position. Read Also: Can I File Bankruptcy Without an Attorney?Are Commercial Banks A Good Career Path In 2022?How Artificial Intelligence Is Helping Banking and Financial Institutions?

The Future Of Digital Currencies: 7 Things We Can Expect In 2022

Bitcoin, Ethereum, and other Cryptocurrencies have gotten a lot of attention throughout the world because of the uncertainty surrounding Covid-19. Many people believe that digital currencies are the way of the future. In the absence of restrictions, however, Cryptocurrencies have been relegated to a speculative asset class with high volatility. On the first day of the Digital Currency Conclave on January 11, 2021, experts stated the Cryptocurrency sector presents India with a great growth opportunity, but positive laws are needed to realize its potential fully. According to experts, effective regulation and ease of doing business can help India become the world's largest Crypto, Blockchain, and Web3 leader. So, let’s find out all about the digital currency trends that are bound to erupt this year. 7 Things You Can Expect From Digital Currencies In 2022 Digital currencies are tied to grow in leaps and bounds this year. If you are already a Crypto trader on the tesler app, you may witness the growth from the earliest onset. So, let’s find out what can we expect from digital currencies this year: 1: Crypto ETF It's too early to know how many investors will flock to BITO, but the fund saw a lot of activity in its first few weeks. In general, the more traditional financial products that include bitcoin assets, the more Americans will be able to participate in and influence the crypto market. You may add crypto to your portfolio straight from the same brokerage with which you already have a retirement or other traditional investment account rather than learning how to navigate a cryptocurrency market. Investing in a crypto ETF like BITO, on the other hand, involves the same risk as any other crypto investment. So it's still a risky and speculative investment. 2: Environmental Fallout The bitcoin industry's steady expansion has brought increasing attention to its carbon footprint over time. Bitcoin and other cryptocurrencies are created or mined by high-powered computers vying to solve complicated mathematical riddles, which consume a lot of energy and emit greenhouse gases unless they use renewable energy. According to a University of Cambridge index, bitcoin mining consumes around 0.5% of worldwide electricity, which is more than Sweden consumes in a year. 3: Central Banks Going Digital As more countries experiment with their central bank digital currencies, state-issued digital coins will compete with Cryptocurrencies in 2022. Central banks worldwide are recognizing that digital payments are rapidly becoming the standard. Keeping central bank money relevant in retail transactions demands the development of digital analogs of their currencies. From Russia to Chile, many countries have begun to investigate CBDCs, with trials and rollouts planned for 2022. 4: Legal Tender You can see some nations are still fixated on banning Cryptocurrencies, but some countries are passing legal tenders to integrate them into the traditional economy. Inspired by the 'experiment' in El Salvador, other impoverished countries would accept Bitcoin as legal cash. In September, the Central American country became the first to recognize Bitcoin as a recognized currency alongside its domestic currency, the US dollar. 5: Broader Institutional Cryptocurrency Adoption In 2021, mainstream companies from various industries expressed interest in Cryptocurrencies and Blockchain, and some even invested in them. AMC, for example, just announced that before the end of the year, it would be able to take Bitcoin payments. PayPal and Square, for example, are banking on cryptocurrency by allowing consumers to buy it on their platforms. As a result, experts expect that this type of buy-in will become more common. 6: Wild West In August, the chairman of the United States Securities and Exchange Commission chairman's chairman referred to the world of decentralized finance platforms, or DeFi, as a "Wild West." It pressed Congress to grant the SEC additional ability to oversee the unregulated blockchain-based banking services. Regulators worldwide are increasing their monitoring of trading platforms in 2021, concerned about a lack of consumer protection and insufficient quality of anti-money laundering procedures. 7: Volatility Will Continue Since Bitcoin is the largest Cryptocurrency by market value, and the rest of the market tends to follow its patterns, it is a good predictor of the crypto market in general. In 2021, the price of Bitcoin embarked on a rollercoaster swing, reaching a new all-time high of $68,000 in November. Following earlier highs of over $60,000 in April and October, as well as a summer decline to less than $30,000 in July, this current record high has been set. Because of this volatility, experts recommend that you limit your Crypto investments to less than 5% of your overall portfolio at first. Wrap Up If you know all about the future trends of digital currencies, we hope you have got the knowledge already. However, if you need more details, you can let us know in the comment section. We will get back to you with an answer in no time. Read Also: Can Blockchain Help In Other Ways Apart From Cryptocurrencies? Why Entrepreneurs Should Pay Attention To Cryptocurrencies In 2021 Why Exchanges Need To Improve User Experience For More Adoption 5 Trends To Watch Out For In The Bitcoin Ecosystem In 2021

Why Exchanges Need To Improve User Experience For More Adoption