Public Release of Exchange Survey: What are the Criteria for Users to Select an Exchange?
“Listening to User Feedback” has many important benefits for businesses, such as improving the quality of products or services, enhancing customer loyalty, creating better experiences, and driving innovation. In Web3 enterprises, decision-making can be easily done from a “decentralized” mechanism or perspective. Therefore, compared to traditional enterprises, “listening” becomes more crucial, as user and community opinions and sentiments are often the best way to adapt to the highly dynamic and innovative blockchain market.
Recently, cryptocurrency exchange CoinEx collected survey results from 152 users to understand their level of trust and quickly adjust product direction and improve user experience based on user feedback. The survey also reflects some habits and preferences of blockchain users.
Table of Contents
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User Basic Information
How do users choose exchanges?
Why do users like this exchange?
How do users evaluate a secure exchange?
Customer service is the key to satisfaction
Responding to user needs is important
A total of 152 users participated in the survey, of which 77% were between the ages of 29 and 50. 68% of the respondents were from Taiwan, and approximately 18.5% were from Malaysia. More than 72% of the respondents had a university degree or higher, indicating that blockchain users generally have a higher educational background.
From the report, it can be seen that Taiwan and Malaysia have a positive impression of blockchain exchanges, and respondents have a positive attitude towards the brand image and reputation of exchanges. In addition to eliminating the complex steps required by users in on-chain transactions, investing and trading on a secure exchange also gives users peace of mind.
From the report, we found that blockchain users choose exchange platforms based on several factors:
– KOL recommendations: Users are more inclined to use exchange platforms recommended by their favorite KOLs.
– Usability of the platform: Users prefer platforms that are simple, easy to operate, and have a high level of professionalism.
– Trust in established exchanges.
– High quality.
– Responsiveness to user needs.
From the above points, we can see that building user trust is crucial for blockchain exchanges.
The survey shows that “a clean user interface and user experience,” “a wide range of trading pairs,” and “lower transaction fees” are advantages that CoinEx users believe the exchange has compared to other exchanges. From the results, it can be seen that convenient and diverse trading, coupled with low trading costs, are the basic conditions that exchange users care about.
In addition, security is always a concern for users. Therefore, a good exchange must have comprehensive user asset security measures. How do users judge the safety of an exchange? CoinEx user surveys show that technical aspects are highly valued, with nearly 80% of respondents considering a “comprehensive risk defense system” as the standard for judging security. This is followed by “regulatory licenses,” with 70% of respondents using government oversight as a basis for trust. Other factors such as “proof of reserves” (POR), “intelligent wallet risk control systems,” and “brand reputation” are also points that respondents pay attention to. In fact, the consideration of security in cryptocurrency exchanges has always been prioritized over policy regulation and user awareness, and it has become the norm for the industry to develop user safety awareness.
In addition to the above conditions, “customer service” is also a key factor in user satisfaction. In addition to the overall smoothness of user services on the platform, users also care about the duration and effectiveness of community responses. Exchanges with well-managed community systems are more favored by users.
The interaction between companies and customers is considered a key process in creating value, and customer feedback is seen as a major source of improving service quality and innovation. In this survey, CoinEx users provided hundreds of opinions, including various aspects such as the market and products. CoinEx expresses its deep gratitude and value for user feedback and has begun to address user needs on the platform. At the same time, the platform is actively expanding its collaborations to make services more comprehensive and diversified. Currently, the platform has partnered with two leading Taiwanese media websites to push news notifications. To further enhance brand awareness and market share, the brand is also actively increasing its marketing efforts and collaborating with payment providers in different regions to provide more convenient fiat currency trading channels. CoinEx further reveals plans to launch a P2P platform this year, aiming to create an all-in-one platform for all cryptocurrency traders.
These efforts not only help improve user convenience but also demonstrate CoinEx’s sensitivity to market demand and its ability to respond quickly.
In conclusion, with its high-quality platform features, proactive user support, and continuous emphasis on security, CoinEx has become the preferred cryptocurrency exchange for many traditional Chinese users. In the future, with technological advancements and further market development, CoinEx is expected to continue expanding its influence in the global cryptocurrency trading market.
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