CoinEx, a cryptocurrency exchange with over 3 million registered users across more than 200 countries and regions, has adopted a new brand slogan: "Making Crypto Trading Easier." We interviewed Haipo Yang, the founder and CEO of CoinEx, to discuss CoinEx's vision and the future development of the cryptocurrency industry.
Q: What is the thinking behind CoinEx’s new slogan, "Making Crypto Trading Easier"?
A: The current cryptocurrency market has entered a new stage in terms of technological advancements, market scale, and user base. At its peak, the market capitalization of cryptocurrencies approached $3 trillion. Bitcoin has become one of the top 10 most valuable assets globally, surpassing even Facebook. Cryptocurrencies are now an indispensable global asset, and blockchain technology is influencing more industries and users.
At the same time, many people feel overwhelmed by crypto technology. To them, this market seems to belong only to crypto geeks and professional investors. This stereotype is not entirely baseless, as many platforms are indeed designed for professionals. They keep adding new features without considering user capabilities, which drives away newcomers.
Imagine an average user visiting a crypto exchange to buy Bitcoin. But they are bombarded with derivatives like futures and European options, leaving them clueless about how to buy Bitcoin. Are these platforms truly designed for the average user? Many platforms seem to think users need all of these complex features, but they overlook the most important fact: "For most users, completing their first crypto transaction is not that easy."
Decentralized cryptocurrency technology was initially created to serve the public. Every crypto user deserves respect. It’s not just for professionals; individual investors also deserve access to the crypto industry. Excluding beginners or individual users goes against the crypto sector's original mission of breaking financial monopolies.
That’s why we are working to eliminate users' misunderstandings about the crypto industry and free them from financial constraints. We want to send the message that crypto trading is a level playing field, and finance should never be a privilege for a select few. We aim to be the bridge between users and the crypto space. As the gateway to the crypto market, CoinEx ensures that users can easily complete each crypto transaction.
Q: The upgrade of CoinEx’s slogan is accompanied by strategic adjustments in branding, products, and technology. Can you share CoinEx’s vision and strategic plan for the future?
A: CoinEx aims to make "crypto trading easier" through our products, token listings, and user services.
Firstly, in terms of products, we exercise restraint and don’t pile on features endlessly. Instead, we commit to providing enough but also satisfying features. Unlike many exchanges that offer excessive functionality, CoinEx pursues "EASIER." This doesn’t mean CoinEx offers fewer capabilities. On the contrary, we aim to simplify sophisticated products to meet real needs.
We also place great emphasis on token listings. CoinMarketCap lists nearly 20,000 cryptocurrencies globally, many of which carry significant risks. Today, many trading platforms suffer from either a lack of diversity or are plagued with worthless assets. Therefore, our research team spends a great deal of time screening the cryptocurrencies available in the market. CoinEx makes it easy for users to invest in assets without the hassle of filtering risks themselves, minimizing their burden.
Lastly, we prioritize user service. We provide professional, efficient, and empathetic customer support. For beginners who get confused by crypto products, we offer beginner guides, comprehensive help documents, and humane customer support. Through top-notch service, CoinEx shows respect for each individual user.
Q: With more professional investors, such as VC firms, hedge funds, and asset managers entering the crypto market, does this raise the barrier for retail investors? Do individual investors still have opportunities in this market?
A: Professional and retail investors are not in opposition. The influx of more investors into this space means the market is gaining recognition, and liquidity is increasing. It’s natural for various types of investors to gather in an established market, but that doesn’t mean retail investors don’t have opportunities.
Let’s compare the crypto market with traditional financial markets. In traditional markets, large investment banks dominate the scene. Companies must go through a complex process to go public, and stock issuance is only possible through these major financial institutions, meaning the primary market is reserved for professional investors. Retail investors are left out of this process.
This kind of centralized monopoly creates high costs and barriers to entry. The stock issuance process, which is supposed to provide funding for project teams and investment opportunities for investors, is burdened by intermediaries like investment banks and VC firms, which do not improve capital efficiency. Blockchain and cryptocurrency technologies offer a new decentralized solution, allowing retail investors to participate directly in the primary market through IDOs and IEOs, breaking the monopoly of professional investors.
In recent years, we have seen many new innovations in the crypto industry, such as DeFi, meme coins, and Play-to-Earn, many of which were not created by professional traders or for large institutional investors. The crypto sector is now accessible to everyone, meaning all investors have the opportunity to benefit from cryptocurrencies.
Q: Throughout CoinEx’s rapid growth over the past two years, the platform has consistently prioritized user experience and user needs. How does CoinEx practice "EASIER" while continually refining its products? What should be prioritized in the future to streamline the trading experience?
A: When upgrading CoinEx’s products, we’ve focused on mechanisms, interactions, and content guides. Users use products to achieve their intended goals. So "EASIER" means helping users achieve their goals as quickly as possible.
In terms of mechanisms, we aim to allow users to accomplish their goals with the simplest operations. For example, CoinEx’s new feature, Swap, is designed to achieve the straightforward goal of "swapping one crypto asset for another." Unlike other swap features that require users to deal with complicated conditions like slippage, market prices, and limit orders, CoinEx Swap is supported by our proprietary smart algorithm. Users only need to input the asset and swap amount, and CoinEx handles the rest. With Swap, users benefit from fast conversions at great prices.
We also focus on interactions, including web interactions and visual guides. Instead of cramming features and information into a single page, we ensure that essential functions are easy to find at a glance. We continue to improve content guidelines by using simple, intuitive expressions in product descriptions and guides, making it easy for all users to start using CoinEx right away.
During the interview, Haipo Yang remarked, "Enhancing the user experience is an ongoing process, and continuous effort is required in product development." CoinEx believes that cryptocurrency should be made more accessible to the public, breaking financial shackles, and through product improvement, pursuing "EASIER" via user-centered design (UCD) or user-driven development (UDD). We are confident that CoinEx’s efforts will offer new opportunities for individual investors in the cryptocurrency trading sector.
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