“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 is more easily conducted from a “decentralized” mechanism or perspective. Therefore, compared to traditional enterprises, “listening” becomes even more crucial, as user and community opinions and sentiments are often the best way to adapt to the highly volatile and innovative blockchain market.
Recently, cryptocurrency exchange CoinEx collected the survey results of 152 users to understand their level of trust. CoinEx quickly adjusted its product direction and improved user experience based on user responses. The survey also reflected some habits and preferences of blockchain users.
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User Basic Information
How do users choose an exchange?
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, with 77% of them aged between 29-50. 68% of the respondents were Taiwanese users, while approximately 18.5% were Malaysian users. More than 72% of the respondents had a university degree or higher, demonstrating 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. The respondents maintained a positive attitude towards exchanges based on their perception of the brand image and reputation of the exchanges. In addition to eliminating the complex steps required for users to trade on the chain, users also feel more at ease investing in exchanges with security safeguards.
From the report, we found that blockchain users choose exchange platforms based on several factors:
KOL recommendations – Users are more inclined to use exchanges recommended by their favorite KOLs.
User-friendliness – Exchange users prefer platforms that are simple, convenient to use, and have a high level of professionalism.
Established exchanges are more likely to gain user trust.
High quality
Responsibility towards users
From the above points, we can see that building user trust is crucial for blockchain exchanges!
The survey shows that “a concise user interface and user experience,” “a wide range of trading pairs,” and “lower transaction fees” are advantages that CoinEx users believe it has compared to other exchanges. From the results, we can infer that the ability to facilitate diverse transactions, coupled with low trading costs, are the basic conditions that exchange users care about.
In addition, the survey revealed that security is always the user’s greatest concern! Therefore, a good exchange must have comprehensive user asset security measures.
How do users judge the safety of an exchange? The CoinEx user survey shows that technical configuration is possibly the most valued aspect, with nearly 80% of respondents considering a “comprehensive risk defense system” as the standard for judging security. The next consideration is “regulatory licenses,” with 70% of respondents using government oversight as a basis for trust. Other points of interest for respondents include “proof of reserves” (POR), “smart wallet risk control system,” and “brand reputation.” In fact, the consideration of security by cryptocurrency exchanges has always been prioritized over policy regulation and user perception. The industry-led development to cultivate user security awareness has become the norm.
In addition to the above conditions, “customer service” is also a key factor in user satisfaction. In addition to the overall smoothness of platform user service, users also care about the length of time and effectiveness of community responses. Exchange platforms with well-managed communities are more favored by users.
The interaction between businesses and customers is seen as a key process for creating value, and customer feedback is considered the main source of improving service quality and innovation. In this survey, CoinEx users provided hundreds of opinions, including market and product-related aspects.
CoinEx expressed its deep appreciation for and value of user feedback, and has begun to address user demands for platform services. At the same time, the platform is actively expanding collaborations to make services more comprehensive and diversified. Currently, the platform has partnered with two leading Taiwanese media websites to push news messages. 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 also revealed plans to launch a P2P platform this year, creating a one-stop platform for all cryptocurrency traders.
These efforts not only contribute to improving user convenience but also demonstrate CoinEx’s sensitivity to market demands and its ability to respond quickly.
In conclusion, through its high-quality platform features, proactive user support, and continuous focus 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.
CoinEx
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Further reading
Responding to Illegal Spy Cam Forum: “Exchanges Freeze Cryptocurrencies” – Wang Wan-yu of the New Power Party Advocates Disrupting Financial Flow
Top Security Measures to Consider When Choosing a Cryptocurrency Exchange