CEXs are the Key to Mass Adoption?

Forbes

Hey folks.

Centralized Crypto Exchanges (CEXs) are still important in attracting more mainstream retail adopters as the market moves on from the infamous crash of crypto exchange FTX.

In spite of the collapse of FTX, which has caused users lost funds in billions, Centralized Exchanges remain the primary layer of interaction for retail adopters purchasing their first crypto.

X10's creator and CEO, Ruslan Fakhrutdinov, believes that CEXs will likely be the means by which the next 100 million retail adopters enter the cryptocurrency space.

According to Fakhrutdinov, CEXs would likely drive user adoption.

Centralized exchanges will lead the game for now. However, when you get new retail into the space, it’s essentially much easier to switch a user from a centralized exchange to a hybrid exchange versus bringing in a completely new user.

Centralized Exchanges are primarily chosen by new users as they offer an element of trust in the underlying company and a more instinctive trading experience.

According to Fakhrutdinov, hybrid and decentralized exchanges need to boost their marketing campaigns and enhance user experience in order to draw in more traditional retail investors.

Hybrid exchanges are pursuing crypto-native marketing. To attract regular retail, their approach to marketing needs to be a little different. It needs to be more like regular think tanks than crypto[-specific].

What are your thoughts about the topic?

Not investment advice.

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