Ever since mobiles came to the surface, a lot has changed – let alone connecting with friends from all over the world. Statistics show that almost 96% of the global population uses a mobile device to access the internet. Now, data access has become faster and easier – with just a few taps on your screen, you can access a vast array of information. This has revolutionized the business world, with various industries taking advantage of the big data available to adjust their products and services based on customer needs.
For a generation where customers value convenience, curating your products and services to meet their needs can put you ahead. Various companies have online platforms for their businesses, such that you can even do your shopping from the comfort of your home and get it delivered right to your doorstep. Financial services have not been left behind – the days of lengthy bank queues to deposit or withdraw your money are long gone.
Owing to the rising interest in digital assets such as Bitcoin, Ethereum, Tether and more, there is a need for more accessibility in crypto trading. With the number of crypto users being over 560 million worldwide, trading platforms are utilizing mobile technology to make their services more accessible and to improve user experience. Like now, conversion of BTC to AUD has become easier thanks to the technological developments in the trading platforms.
User experience
Some cryptocurrency exchange platforms have launched mobile apps that allow you to manage your portfolio on the go. The transaction process that initially seemed like rocket science has been reduced to a few taps on your smartphone screen. You can now scan QR codes to input wallet addresses or, better still, save the addresses of your frequent contacts for smoother future transactions.
The user interface designs on the apps show devotion to convenience and customer satisfaction with elements such as clear buttons and labels to make it easier for you to navigate and accomplish tasks instinctively. Most companies have been integrating such experiences because over 74% of mobile users will likely return to a site that offers good UX. Inbuilt advanced features like charting software allow you to visualize price data and get real-time order books and market depths, making it easier to spot any patterns and trends in the market.
For a more personalized experience, there is now a provision to set up your own price alerts and get notified when a cryptocurrency reaches a particular level. This enables you to take advantage of arising opportunities without spending all your day glued to your screen. Portfolio trackers have also been included in the apps to help you monitor the overall performance of your digital assets, empowering you to adjust your strategies and make informed decisions while trading.
The apps have incorporated social features that allow traders from all over the world to connect and communicate effectively without being physically present. In case of anything, there are AI chatbots and virtual assistants on the platforms that offer 24/7 automated trading assistance and customer care.
Better Security features
Because of the dynamic nature of mobile technology, mobile crypto applications have put in security measures that offer a higher level of protection to your digital assets. Beyond two–factor verification, they use the Know Your Client (KYC) protocol to prevent fraudulent activities. Biometric authentication is also required on the platform, making unauthorized access more difficult.
Since most users store large amounts of their crypto in hardware or secure cold storage wallets, mobile apps have integrated tools to manage these offline digital assets directly from your mobile device. This maintains both the safety and accessibility of your assets and financial information. As a proactive measure, the apps ensure that their security systems remain up-to-date to protect you from any potential threats.
Beyond mobile apps, the marriage between mobile and blockchain technology has given birth to crypto phones. These are designed to offer Web-3 connectivity and blockchain capabilities. They come with built-in hardware wallets and decentralized apps that allow you to store your crypto coins securely and access them easily. The blockchain capabilities allow you to maintain a transparent and secure record of transactions and ensure that the financial information and identity of crypto buyers and sellers are protected.
Final thoughts
With a market capacity of over 2 trillion USD, the crypto industry is on an increasing trend and is expected to grow by 8.62% for the next four years, Statista reports. Mobile devices have allowed people to access the market easily, enabling them to promptly respond to any news or occurrences that may affect crypto prices. There is more flexibility as well because users can trade from anywhere and at any time. All these have led to increased market volatility and, hence, increased trading activities.
It is evident that mobile technology has played a significant role in transforming the crypto industry by making it more accessible, user-friendly and secure. This has redefined the crypto trading experience, boosting traders’ confidence and trust, thus potentially expanding the industry.
