CaseyIn July 2024, Lucas, chairman and CEO of the centralized trading platform Tapbit, accepted an exclusive interview. In the interview, Lucas expressed his views and insights on Tapbit’s development achievements in the past year and the obstacles. He also talks about his foresight on the financial regulation of the crypto industry and the market trends.
How does Tapbit make a breakthrough in less than a year and become a new dark horse in the spot market?
The more the market changes from bear to bull, the more it will be a big test for CEX. Whoever seizes user needs first can reap the dividends. For the past year, Tapbit has listed a lot of top coins in the market, which have a huge impact on the market and potential with its rising transaction volume. Tapbit has been indulgent in cooperating with the most trending coins in the market and filtering the most bullish ones for the users to trade in line with the market trend.
The essential strategy of Tapbit listing is to quickly understand the users’ needs and seize the dividends of the most popular currencies. We pivoted from quantities to qualities to satisfy the most valued thought for users: Buy when they can earn.
Can you share the obstacles Tapbit currently facing? Can you tell us what steps you take to confront them?
Tapbit has seen a significant increase in users and trading volume in the past year, but the gap between us and the top exchanges is still obvious. Whether in terms of market share, number of users, trading volume, or activity reach, we still have a lot of room for improvement. Over the past year, we have been improving our marketing level, trying to use more ways to let more virtual currency traders know about our platform and let them feel the advantages of our platform.
Our strategy in social media marketing is to integrate social media in multiple dimensions: stay active on platforms such as Telegram, X, Instagram, and Youtube; at the same time, we have hired more excellent community managers to manage Telegram groups and promote the execution of partnerships and localization strategies through ecosystem and business development leaders. When we found that platform users were more concentrated in Asia, Europe, and other regions, we decided to actively expand the global market and use more technology and marketing methods. We currently support multiple languages and currencies and have established partnerships with international partners. We are trying to achieve healthier partnerships and encourage them to continue to expand their business scope in the future in places where our global operations cannot reach, and provide quality services to more local users.
Besides the products, what’s Tapbit’s core competitiveness in the market?
The core of centralized exchanges is security. We always put user experience first. In the past year, we have comprehensively optimized the interface of the trading platform, simplified the operation process, and improved user-friendliness. For example, we have redesigned the trading page, optimized the chart analysis tools, and added more practical functions. These improvements effectively improved user trading efficiency and lowered the trading threshold.
Besides constructing the security system, Tapbit has also invested a lot of resources in service upgrades to prevent hackers and fund theft. We have introduced a multi-factor authentication mechanism and advanced risk control system and established a professional customer service team to provide 24-7 online customer service to resolve issues. We have also opened multiple communication channels, such as user-side chat, email, online chat, etc., to ensure that users can get help anytime to make them feel safe about their assets.
The spot Ethereum ETF was passed in May, what’s the impact do you think it will bring to Tapbit?
First of all, ETF is not new. ETF has already appeared in the traditional stock market, it solves the problem when the traders need more confidence in a certain asset by investing in represented ETF. After some attempts, they may be more enthusiastic about the currency circle and learn more about this field.
Since last year, US regulators such as SEC and CFTC have filed lawsuits against many cryptocurrency companies. At the same time, relevant agencies have also approved ETFs to be listed and circulated in the US stock market. There are two problems here. First, the approval of ETF means that crypto assets are accepted by traditional financial markets, which has triggered a wave of market conditions in the crypto market; second, the lawsuits of many crypto companies have caused concerns among practitioners, expectations of regulatory direction, and concerns about tightening conditions.
When it comes to regulation, almost all people have a common expectation, that is, they expect regulatory rules to be not only open and transparent but also have strong certainty and consistency, Tapbit is not an exception. This regulatory action by the US regulator will undoubtedly cause attention among global regulators about anti-fraud, anti-money laundering, and increased transparency. Also, I believe the Ethereum ETF is a good channel for more users to focus on the crypto market and make more transactions on our platform.
What do you think the market will be, better, or worse? Has your goal changed after you founded Tapbit?
When I found Tapbit, I was indulged in reshaping the crypto industry to be more user-centric. For example, we have significantly reduced transaction fees to benefit more users and have built a leading customer service system to help users solve problems promptly. The crypto industry is focused on increasing efficiency today, which aligns with our mission to advance our unique user-centric culture.
Cryptocurrency makes money more efficiently, and I want to help more people see the meaning of it. Mainstream adoption of cryptocurrencies will benefit the majority and is an effective way to drive financial inclusion and improve lives for greater well-being. The industry has just started to bloom, I & Tapbit hope cryptocurrencies will promote monetary freedom and fairness and may furnish more people’s lives.
About Tapbit Exchange:
Tapbit Exchange is a leading cryptocurrency exchange platform that offers a wide range of trading pairs, competitive fees, and advanced security features. Tapbit is committed to providing users with a seamless and secure trading experience
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Website: https://www.tapbit.com/
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