First let me say that I am in this since ICO and I am fully commited to this absolute amazing project and the great work done by the team (and community).
I want to share a experience with you I had last week.
My cousin is experienced in stocks and 100% invested in those. Now he got interested in crypto and he knew I am in this space for a long time. So he asked me how to get into this and what he has to do to buy his first crypto (BTC and ETH).
I told him that there are a couple of exchanges he could use but I recommend nash for security reasons and because it is extremely easy to use for unexperienced users (that’s what I thought).
So he gave it a shot. He downloaded the app (he does 99% of his stuff on mobile, not on desktop). First he struggled a bit with the english language (not his best) so I told him to use the web app what is translated. He managed to pass KYC and wanted to buy now. Then he asked me, why am I not able to buy BTC now? So I told him he needs to buy USDC first and then trade it for BTC or ETH. What is USDC…? After I explained him the stable coin story he wanted to buy now but iOS app did not show him USDC as a possible coin to buy (he had to use it again instead of web, because he left home in the meantime).
I am still not sure why this was the case so I told him to use the web app as soon as he is back home again. Next thing I heard from him was, that it is still too complicated for him to manage all this.
So he googled and found bitpanda. He went there, created an account and were able to use their cash gateway for an instant buy of BTC and ETH. He were able to choose between so many on-ramps and not only to make a sepa for a coin he does not want to have and wait 4 days until sepa went through.
Not having said that the most important step is still missing then, trading USDC for BTC. I don’t want to think about what I may had to have explained to him how to trade BTC for USDC then using the trading contract and stuff…
So, this time nash lost against a cex which is way more easy to handle for a crypto beginner.
I know we are still pretty early in providing features but I thought this feedback and experience is welcome anyway.
Have a great weekend,