Present Cryptocurrecy Exchanges are Inept to offer better Customer Support

Cryptocurrency exchanges are more or less a part of the service industry and need to be flamboyant with its service offerings. Also, crypto trading is a tricky business and requires particular attention from the service providers.

Why is Customer Support a Major Concern?

Think of a scenario where you go to a retail store in which the stuff is nice, but the salesman isn’t interested in showing the right thing. In consequence, you leave the store empty handed neither benefiting you nor the store owner. And most likely you will not be revisiting the store.

Consider the similar situation for cryptocurrency exchanges. An exchange might prove as a better trading platform but neglecting the customer service segment will bring down its rank. Even if the exchange has some useful features but does not feel necessary to clear out your queries or help you with your trouble, you are not likely to continue trading with the exchange.

You might think that how would customer support be on top of the fascinating features. But if you have been trading, you would understand this aspect to the fullest. Though cryptocurrency is said to be decentralized, it does have a layer of centralization due to the medium of exchanges. As stated in the onset, crypto trading is a bit complex merely providing access to the trading platform is not doing a good deal. There will be critical issues as the current exchanges are far from perfection. Traders are stuck waiting for an immediate response from the exchange providers which they fail to provide. Thus, lack of customer support is indeed a matter of concern.

How severe is the Problem of Customer Support?

You’ll grasp the severity of the problem when an upcoming exchange provider Encrybit revealed the numbers derived from a survey result. It had conducted an online survey to gather traders’ opinion on current cryptocurrency exchange issues. 33% of the participants reported a lack of customer support as a significant issue.

Apart from this, you might have witnessed complaining tweets and comments against the careless nature of exchanges. Although casual is a bit harsh, there have been incidents like unrelated charges levied on traders’ account, paused withdrawal, account suspension, hacking, etc. Such events require quick and resolving action. The favorite exchanges lag behind in the race of customer satisfaction, and one of the reasons is the lack of talented personnel who can assist the traders as the need of time.

How can the Exchanges increase their Customer Support quotient?

Focusing on the directly derived cause, the favorite exchanges have decided to recruit staff acquainted with the knowledge on cryptocurrency and its trading of course. But not as easy as it seems. Cryptocurrency is still considered the newest fad, and there aren’t many resources available which can be recruited by the present number of exchanges.

The way out in this situation is to educate dedicated personnel on cryptocurrency and the aspects of customer service. Also, make customer support a higher priority segment.

Another point to be implemented is adding FAQs and video tutorials so that the traders don’t have to bother opening a ticket for small issues. 
Also, the support team should be well-trained to assist the traders in critical issues as quickly as possible.

Final words

Such improvisation cannot be done overnight and requires time and patience. The upcoming exchanges should consider the customer support aspect and get in the market with better support service. Encrybit is going to be one of them.