Survey Results
Ternion team would like to thank everyone who participated in the survey.
The conducted survey helped us to gain knowledge about the needs and concerns of our community.
So, what can we conclude?
A large number of the respondents consider that an audited, transparent and regulated exchange is a must when it comes to efficient and safe trading.
This insight is noteworthy in light of a shift in legal cryptocurrency regime that many countries now enforce. Moreover, there is a shortage of newly established fiat-to-crypto exchanges that are secure and operate with a license.
Furthermore, 48 percent of the respondents consider multi-currency fiat support for all major alt-coin pairs very important.
However, only a relatively small number of the respondents changes their alt-coins into fiat very often.
Thus, one of the conclusions that can be reached is that there is no desired or needed infrastructure in place for such dealings.
Unsurprisingly, more than half of the respondent said that they would stop using the exchange if they found out it had been unregulated.
Digging deeper we observe that the most important objectives that are looked into when choosing an exchange are token listings and security. Thus, people want to make sure that there is actual usability of the token and that they can safely trade on the exchange. It is fair to conclude that although not many people use customer support, they appreciate its existence and believe that customer support of the exchanges they have traded on does not meet their standards or satisfy their needs.
Other Insights
Most of the respondents trade small amounts that don’t go beyond $5000 per month. On average traders have accounts on 2 fiat-to-crypto exchanges. The two most popular reasons for choosing a particular exchange were token listings (32 percent) and security measures (22 percent). Liquidity and fees were equally important to respondents, but less important compared to UI/UX ease of use.
Many respondents consider for an exchange to have a native token that reduces trading fees somewhat important.
When asked about the future use of the Ternion Payment Processor: a large number the respodents will use it at least sometimes.
After reviewing the results, we came to the following conclusions about the future of Ternion.
What will attract customers? Regulation, European crypto trading license, KYC and AML compliance, multi-currency fiat support, ease of trading and ease of UI use, as well as infrastructure in place for convenient and safe fiat-to-crypto trading.
What will keep them? 24/7 customer support, liquidity, token usability, conduct of yearly audits and constant improvement, as well as the Ternion Payment Processor, which, when implemented, will bring great benefits and convenience to all the parties involved.
Thank you for your participation and valuable insights. Now that we got to know you better, we will work even harder to meet all of your demands and not to lower the bar raised high by your trust and our credibility.
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