Metaverse Exchange Lowers Barrier to Entry for New Users | Coinspeaker

Metaverse Exchange Lowers Barrier to Entry for New Users

UTC by Andy Watson · 3 min read
Metaverse Exchange Lowers Barrier to Entry for New Users
Photo: Shutterstock

At Metaverse Exchange, your SBT weight is supported by your trading behavior, social activity, and credibility.

Metaverse Exchange has attracted a lot of attention in the past two years. In the initial idea, it was the first tech park in the blockchain industry and the first tech park in the metaverse. It includes a Launchpad for startup projects and helps new businesses and cryptocurrencies enter the market. In 2023, the exchange’s direction underwent a significant shift, with the goal being to assist new cryptocurrency users and reduce the barriers to entry into the crypto market.

As cryptocurrency exchanges compete fiercely in the wallet sector, the platform observed that early entrants in the crypto market are moving towards more specialized product features and ecosystem development. While more specialized products and technology are advantageous for blockchain infrastructure, they also increase the requirements for investors, who need to possess greater trading knowledge and experience.

Metaverse Exchange’s CTO Stefan believes that new cryptocurrency market investors are the key to this field. Many traditional institutions and funds are keeping an eye on the progress of BTC and ETH ETFs (Bitcoin and Ethereum funds). The convenience, low cost, and high potential returns of cryptocurrency asset trading are attracting a large number of Web2 users. They are accustomed to good interaction and lower barriers to entry, which is familiar to new users during the registration process at Metaverse Exchange. Typically, the platform only requires email or phone number registration, and the KYC process is simplified. Users can choose social media binding verification or email verification. This is crucial for protecting user privacy.

How does the simplified KYC process ensure the security of transactions on Metaverse Exchange? This is the most frequently asked question by users. In fact, the exchange completes SBT minting through the social media binding process. The minted NFT identity replaces the UID used by other centralized exchanges. At Metaverse Exchange, your SBT weight is supported by your trading behavior, social activity, and credibility. Stefan believes that users with fraud risks typically cannot provide verifiable social media binding information, as they cannot fake multiple platforms simultaneously. This simplified KYC approach is more user-friendly and convenient, with a significant portion of the backend work conducted on-chain to ensure users’ control over funds and the tamper-proof nature of information.

New users need to go through a learning process because no investor is perfect, even if they are professional and experienced cryptocurrency market practitioners. The volatility and uncertainty of the crypto market pose greater challenges for new users, but at Metaverse Exchange, they don’t have to worry about this issue. The platform has a dedicated knowledge community that promotes awareness and provides operational guidance on cryptocurrency industry knowledge for zero-experience asset traders. To achieve this, the team has invested heavily in market research to record and address frequently asked questions from new users in the crypto market. The exchange can truly solve users’ inquiries and provide assistance in the shortest possible time.

At Metaverse Exchange, being user-friendly and ensuring safety for new users is a top priority. If you want to learn more details about our upcoming launch in December, please follow the official channel of the exchange on X and Medium.

Disclaimer: Coinspeaker is not responsible for the trustworthiness of any content or product on this page. Though our goal is to provide you with the most valuable information that we could find, we recommend you conduct the necessary research on your own before taking any decisions related to the products presented in this article. This article can’t be considered as investment advice.

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