Why The Best Cryptocurrency Exchange Is The One With The Best Service
Cryptocurrency trading has entered the mainstream in recent years. There is growing interest in this alternative asset class from investors and traders worldwide, resulting in a high valuation of cryptocurrencies, such as Bitcoin, Ethereum, and a host of others. Some of the most internationally respected business leaders and celebrities have also exerted their own influence by endorsing and promoting crypto as the future of money.
With the widespread popularity and acceptance of these virtual currencies, the number of people signing up to buy and sell on crypto exchanges is also growing at a rapid pace. The number of monthly transacting users (MTUs) on these centralized exchanges is rising exponentially with each passing month. Clearly, much of the world now sees investing and trading in digital currencies as a powerful opportunity. With that said, there is still one area where even the best cryptocurrency exchanges have a long way to go: client service.
The Demand Is Outpacing the Capacity to Serve Clients
When any new and transformative technology goes through a period of explosive growth, the real test for its sustainability comes in the form of how well the technology leaders are able to service the sudden spurt in demand. The unprecedented traffic that many cryptocurrency exchanges are experiencing right now is straining their resources and capacity to serve clients.
Some major crypto exchanges have even reached the verge of crashing because they were not prepared for the sudden global crypto boom, which is nowhere to stay. Last year a number of crypto exchanges faced serious network congestion and reported outages. One of the leading cryptocurrency exchanges was forced to stop investor withdrawals as the company frantically worked on improving its client service and bolstering the ability of the platform to manage more transactions and traffic.
The near-absence of client service and systemic issues in some of the best cryptocurrency exchange platforms have continued to trouble users who frequently share their predicament through social media networks. Clients typically express their helplessness on social media with these types of comments: “I repeatedly tried to seek help from your support team, but I never even received a response” or “I have been waiting for weeks to have my account on your crypto platform verified. Despite raising tickets several times, I have yet to receive a response. This is the pathetic level of your customer service.”
Online search volumes for terms such as “how to contact crypto exchange” or “what is the contact number of crypto exchange support” have risen fast in recent times. This trend is also a reflection of the poor condition of crypto exchange client service in general.
As cryptocurrency trading and investing through crypto exchanges matures and evolves, users are likely to converge on platforms that are capable of delivering an outstanding user experience. Crypto service providers must never underestimate the prudence of clients because ultimately it is their hard-earned money at stake. From the user perspective, the best cryptocurrency exchange is the one that provides timely and professional client care, preferably 24/7/365.
With Great Client Trust in Crypto Comes Great Responsibility
Although millions of new users are finding trust in cryptography and blockchain technologies, these concepts are still relatively sophisticated and hard to comprehend easily for an average investor. In fact, a countless number of people still have little idea of how crypto investing works on a cryptocurrency exchange. However, despite their limited knowledge, they still want to be a part of this promising opportunity and don’t want to miss out.
In this situation, the onus is on the companies and groups that are setting up new cryptocurrency exchanges to provide seamless client service for the participants. When prompt and efficient 24×7 support is available to millions of crypto traders and investors, it will increase their confidence and encourage more people to utilize these platforms. Excellent client service in the crypto space is therefore no longer an option, but a critical ingredient to fuel the sustainable growth of the crypto industry.
Dedicated client service is essential to creating a level playing field, where everyone is able to understand the nuances of crypto trading and how to leverage the features of the best cryptocurrency exchange to their advantage. Anyone who has the inclination to trade or invest in cryptocurrencies, but lacks formal training or experience in this space, should be able to receive timely and reliable client service in order to ably compete with the pros of crypto trading.
Cryptocurrency Exchanges Should Prioritize User Experience
A widespread problem of the poor or deficient user experience that most crypto exchanges deliver today represents a strong opportunity for a select number of user-centric exchanges that are prepared to offer a consummate user experience. These visionary platforms recognize that technology, as well as regulation in the crypto space, is fast evolving and it can be hard for users to keep up with the changes.
Therefore, savvy crypto exchanges are investing maximum resources in building a dependable client service that helps users protect their investments against errors that may arise from a lack of knowledge. At the same time, excellent client care empowers the users to make better investing and trading decisions.
When a user gets stuck with a problem while utilizing the crypto exchange platform or they wish to acquire knowledge about some new features, they can promptly contact client care and obtain a resolution for their concern. With that said, the best cryptocurrency exchange in terms of client service is H2cryptO – the world’s only crypto exchange offering and emphasizing true 24/7/365 live user support.
H2cryptO is committed to the goal of bridging the gaps in the industry, which are occurring primarily because of the lack of timely client service and support. In contrast, a large number of crypto platforms are refusing to scale up their resources and investments in client care in proportion to the growing number of users they serve. They are now facing extinction because users eventually abandon these insufficient platforms.
Causes of Poor User Experience at Most Crypto Exchanges
Avoiding Client Support to Cut Costs
The abysmal track record of most cryptocurrency exchanges when it comes to user experience stems from their myopic vision to cut corners in client service in order to maximize their profit. Many of the crypto platforms that are available today offer virtually no client assistance. While blockchain technology enables automatic trading, it still puts users at risk in many cases because of the lack of client care.
If the crypto exchange experiences an issue due to a technical problem, a data breach, a virus attack, or a cyberthreat, the users can be distraught they have no access to user support or a helpline. When the exchange is down, the client’s failed attempts to elicit a meaningful response or support from the user care system can cause frustration. The users may even be at the risk of losing permanent access to their accounts in cases of serious cyberattacks when client care is absent.
Low Quality or Unreliable Client Care
In the world of cryptocurrency trading, users often report poor or negligent client service and rejection of withdrawal requests. Major crypto service providers continue to face criticism and complaints from users for not only offering low-quality client care but also denying their access to cash. Many users complain that they missed their trade chances because the trading platform failed to offer reasonable client support in crucial moments.
Moreover, the quality of client care worsens because of delayed reaction times. Poorly managed standard or pre-defined responses to user queries are often meant to show that the exchange platform cares for its users, but in reality, these responses may not resolve any part of the client’s problem.
In this situation, a new user is likely to face hurdles while trading and may not be able to accomplish much. Arbitrary discrepancies in accounts, failure to stay online in heavy traffic periods, and mistakenly suspended accounts are some of the challenges users face when the client service is subpar.
Absence of Client Care Software or AI Support
Many cryptocurrency exchanges not only have an inadequate number of client care team members but also lack advanced software programs or AI-hybrid support to power their client care systems. When a user raises a ticket, the support system should be able to seamlessly track it for timely resolution. Software programs should have the ability to prioritize ticketing in order to deal with more urgent user requests first.
An intuitive website, multiple channels of client communication, comprehensive FAQ sections, and AI-backed client service can improve self-service while accelerating the speed of ticket resolution. Considering that many innovations in the field of cryptocurrency and blockchain technology are still underway, the focus of the crypto exchanges should shift from maximizing their number of users and trading volume transactions to providing user protection, education, guidance, and support.
H2cryptO has managed to introduce an exceptional user experience, which is helping it win widespread client support and has positioned it to become a market leader of the future.
Focal Areas to Improve Cryptocurrency Exchange User Experience
Crypto trading is on the rise and it is unlikely that the growth trends will reverse any time soon. This means that even the best cryptocurrency exchange will have to think outside of the box to meet the rising demand. Here are some of the focal areas where crypto exchanges can work to improve their user experience.
#1. Live Support 24/7/365
Crypto exchanges must provide live support 24/7/365 through multiple support options, such as call, chat, and email. The trading of digital assets occurs 24 hours a day, including weekends and holidays when the traditional trading markets are closed so it is important that users should have access to reliable support at all times.
Moreover, cryptocurrency traders may be located in, traveling between, or operating from different time zones and different geographies throughout the world. Therefore, to deliver the best user experience, it is vital to offer live support 24/7/365 so someone is always available. Live support means the user can obtain a resolution to their issues in real-time, no matter in which time zone they may be located. H2cryptO is the world’s first crypto exchange that offers and emphasizes live support 24/7/365.
#2. Trained Client Care Professionals
Crypto trading continues to be a fast-evolving and relatively complex sector that involves some risk to a user operating on a crypto exchange. Cryptocurrency exchanges should focus on hiring fully trained and skilled client care professionals to help resolve any issues and mitigate some of that risk.
A fully trained and engaged client service team is a fundamental requirement for a good crypto exchange. Skilled client care executives can swiftly address the user’s unique problem and put the user at ease so that they can continue to trade with confidence on the platform.
#3. Hybrid Human HR and AI Solutions
To handle the incremental demand for crypto services, the best cryptocurrency exchange will deploy a combination of human resources and AI tools. This helps in achieving faster and more effective resolutions to user queries and problems, increases efficiency, and enhances the overall crypto user experience.
Wherever the problem is complicated and requires human intervention, a trained client support member can take over from the AI program to assist the user. Advanced analytics, omnichannel delivery of services, and lower operational costs (passing on the lower costs to clients) are other key benefits of using hybrid HR and technology solutions.
#4. Efficient Self-Services
Some crypto exchange users, especially those who are well-versed with crypto trading and investing, may want to utilize self-service instead of reaching out to the human support team.
To meet the expectations of these users, the exchange should build a robust knowledge resource comprising helpful articles, blogs, FAQs, white papers, eBooks, guides, and educational videos. Social media networks may also be creatively utilized to boost the overall user experience for people who prefer self-service.
Crypto Traders Expect and Deserve Reliable Client Support
Client support and a commitment to protect the client’s best interests should be the top priority for cryptocurrency exchanges. When it comes to choosing a platform to trade crypto, the discerning clients will prefer to go with a platform that offers outstanding live support. It is becoming a prerequisite for the crypto trading and investing community because things can sometimes go wrong and that’s when client support can make all the difference.
Maybe you have forgotten your login details, a fiat currency transaction to your bank is taking more time than it should, or an important trade transaction you want to make is stuck and not going through. Even on the best crypto exchange, everything is perfect – until it isn’t. This is particularly true of exchanges with low credibility that often fail at the critical point of user support.
While the clients want to save on fees, they don’t want it at the cost of struggling with their trades and losing far more than what they might save in terms of exchange fees. Even many of the leading crypto exchanges are lacking in terms of client support; some don’t even offer users a way to contact them. If you get stuck on such a platform, you may end up searching through pages of online help-seeking a solution or simply receive a standard automated response that does nothing to solve your problem.
Focus on Protecting the Client’s Interests Helps the Crypto Industry
With the large-scale public acceptance of cryptocurrency trading, the regulatory agencies are becoming increasingly concerned about protecting the consumer’s interests. Unless the crypto exchanges keep client support at the top of their agenda, the regulators are only going to enforce more restrictions on the crypto industry, which will slow down its growth. Needless overregulation will serve nobody’s interests and make it complicated and expensive for crypto businesses to remain compliant with the law.
When cryptocurrency exchanges demonstrate a commitment to making concerted efforts to resolve end-user concerns and provide dedicated client service, it will ease the regulatory environment and pave the way for the rapid growth of the industry. Staying diligent about client communication and providing live support is an actionable strategy that will not only protect clients but will also reassure regulators, ultimately resulting in a thriving crypto industry.
It is important to remember that at the end of the day, the trader or investor that is interested in exposure to digital assets will have a choice of multiple cryptocurrency platforms. In a highly competitive environment, the best cryptocurrency exchange that excels in delivering a high-quality user experience is going to win. Many clients are already choosing advanced platforms such as H2cryptO because of the differentiated level of omnichannel live support we offer to our users.
How Can Crypto Exchanges Improve Client Service?
Clients look at a number of features before finalizing which cryptocurrency exchange they want to use. Looking at the high stakes involved in crypto trading, client support is often the most critical metric users consider, instead of the crypto exchange fees. Unreliable client service can quickly damage the reputation of a crypto platform beyond repair.
The last thing a client wants is a bad trading experience. They will select a platform where they have the assurance clients are treated with care and respect, and their concerns are prioritized over all other considerations. Let us look at the ways in which crypto trading platforms can take their client service to the next level.
Offer Omnichannel Client Support
Crypto traders are often hard-pressed for time because they may have other occupations and responsibilities. They have little tolerance for inefficiency and slow response time. When a user needs the support team to explain a feature or resolve a particular issue, they expect a fast response. At the same time, they like client support to be available across multiple communication channels so they have several ways to access help.
The best crypto exchanges should focus on building an omnichannel client support strategy. To begin with, the crypto exchange website should be user-friendly and offer clear and simple ways for clients to drop their feedback, ask questions, or request assistance. Live support 24/7/365 that combines human engagement with AI chatbots can help ensure that user queries are addressed across multiple time zones and geographic locations in a timely manner.
Repetitive, common, or standard user queries can be handled through chatbots, while live client service agents can address more intricate, urgent, or unique concerns. Phone and email support should be offered to build strong and trusted relationships with clients. Online telephonic systems may be considered, which lower the cost of the calls and might offer toll-free calling from any location.
Provide Live Support 24/7/365
H2cryptO is the world’s first crypto exchange to offer and emphasize live support 24/7/365. All cryptocurrency exchanges should have a global vision and should prepare for a future where they will have to address inquiries from users located in different parts of the world. The user is oblivious to the exchange’s time zone and expects their concerns to be handled in real-time, regardless of their location.
Crypto trading never sleeps, so why should the crypto client service? To deliver 24/7/365 live client support in a fast and convenient manner, it helps to integrate the physical client service division with AI programs like chatbots. Simple or basic user inquiries can be handled effectively by the bots, and clients are happy to receive feedback from the exchange in real-time.
To deliver around-the-clock support, client care teams usually work in three shifts – and each team hands over outstanding work to the next team at the end of their shift. Importantly, when selecting an outsourcing partner for client service, the crypto exchange should make sure that the partner meets the highest data security and legal standards. User data protection must remain the top priority of the crypto exchange at all times.
Enable Self-Help for Crypto Traders
While some crypto-trading-related questions or concerns can only be addressed by speaking with a client care representative, in most cases, issues can be addressed without their direct involvement. For this reason, many crypto traders prefer to use self-service instead of having direct communication with the client service reps. A comprehensive knowledge base should be provided to meet the requirements of these users and help them resolve their concerns quickly.
The cryptocurrency exchange website should ideally include insightful blogs and detailed guides that contain solutions to some of the typical problems most traders encounter. The knowledge section on the website can be divided into multiple categories for easy user navigation. A section focused on frequently asked questions (FAQs) should also be provided regarding the platform’s software program and features.
Live Support 24/7/365: Is it Worth Having this Service for a Cryptocurrency Exchange?
H2cryptO is setting new standards in crypto client service by becoming the world’s first crypto exchange offering and emphasizing true live support 24/7/365 to its users. With this feature, H2cryptO has eliminated the fear barrier that would deter many people from trading in crypto. Let us evaluate whether live support is indeed helpful for users and whether it is worth choosing a cryptocurrency exchange that offers this service.
Crypto Industry Has Historically Lagged Behind in Client Care
The history of client care in the crypto industry has been lacking in positive accounts. In fact, a number of client care disasters are etched in public memory when it comes to crypto trading. One of the more prominent events was an attack on the Bitcoin exchange Mt. Gox that resulted in the theft of user funds worth more than $400 million.
The exchange was not equipped to deal with the user response in this situation and failed to restore client trust. Soon after the attack, the exchange was shut down and many investors never recovered their money. The situation in the crypto industry worsened with the proliferation of decentralized exchanges.
The trades on these exchanges are automatically performed on the blockchain, and there is no provision for client support. While the technological leap is admirable, it leaves many users in trouble and without any support.
Things that Could Go Wrong in Crypto Trading
There are numerous scenarios in crypto buying and selling where poor client support can create serious issues. One of the issues is when something goes wrong at the cryptocurrency exchange. It could be a software glitch, a cyber theft, an attempted data breach, or a virus attack. In this type of crisis, a crypto exchange with a deficient system of client support will be unprepared and not know how to react.
As a result, users are likely to go through an unnecessary period of agonizing uncertainty before the platform is up and running again. Slow reaction time in this business means the users could be denied access to their funds for several hours or even days, leading to loss of trust and plenty of client anxiety and dissatisfaction.
Crypto exchange users can sometimes make an unintended error, which should be rectified by client support. Wrong delivery address, typing mistakes, and other errors of omission or commission could mean that you end up sending your crypto assets to the wrong destination. In absence of timely and knowledgeable client support, you are at risk of losing the asset altogether, not to mention the period of agony you may go through as you attempt to seek help from the exchange.
Sometimes a simple mistake such as losing or forgetting your login details could render you without access to your funds when client support is not available. These are real problems not just for beginners, but for every cryptocurrency trader when client support is lacking. Things can go wrong really quickly in crypto coin trading and the window to resolve the issues is often small.
For these reasons, the best cryptocurrency exchange, such as H2cryptO, offers live support 24/7/365 so that things are back up and running in no time, and you are in control of your cryptocurrency assets as soon as possible.
Motivation to Deliver Dependable Service
Crypto exchanges have generally avoided offering 24/7/365 live support to clients because it costs money to provide this superlative level of service. However, that is short-term thinking. Although it doesn’t cost you in the immediate run when the client is struggling with a problem and has no support available, it will in the long run when the client exits the platform in frustration.
On the other hand, an exchange that provides live support 24/7/365 will naturally absorb significant costs to deliver an excellent user experience and win the loyalty of its users. Each support ticket, email, phone call, and chat window has a value attached to it for the crypto exchange.
This potential value serves as a strong motivation or financial incentive that drives the crypto exchange to minimize errors and hiccups in the first place. The operations team at the exchange will work much harder to deliver a seamless user experience so the number of support requests from users organically goes down. It creates a win-win for the users and the exchange platform.
The clients have an assurance of live support and they receive a smooth and hassle-free experience with minimal need to raise support tickets. The exchange wins because it distinguishes itself from the competition by putting the client at the center of its business, while it pursues excellence in quality and performance to minimize client support costs.
Conversational AI or Cryptocurrency Chatbots for Crypto Exchanges
In a volatile and complex cryptocurrency market environment, crypto exchanges should be in a position to respond to every user query in real-time. Educating and guiding the clients is a part of the process as new market participants join the exchange every day. It is also important since the crypto technology, features, and regulations continue to evolve. Chatbots or conversational AI can help cryptocurrency exchanges with the following:
#1. Define the Client Journey and Answer Queries 24×7
Examples of questions a chatbot can answer:
- How can I open a new crypto exchange account?
- How much trading fees will you charge?
- How can I put money in my crypto wallet?
- What is the current trading price of Ethereum (or Bitcoin, etc.)?
- How do I liquidate my crypto assets to cash?
- My last transaction is not updated in my trading status, what can I do?
These are some of the common or basic user queries that a good cryptocurrency chatbot can answer during off-business hours, peak hours, and any other time of the day or night. If a client can have their question answered without speaking to a live agent, it will save the crypto exchange some money in client service.
#2. Identify and Prioritize Urgent Concerns
Sometimes a crypto exchange user may experience serious or urgent problems that require prompt intervention. For instance, the user’s account may have been hacked, or they may have been locked out from it.
A custom-designed crypto chatbot for these emergencies can swiftly guide the client through the necessary steps, such as blocking the account, suspending transactions, or changing the password, to reduce risks in real-time.
If the chatbot is unable to resolve the user issue in this type of emergency, it can automatically send a signal to the client care team for urgent human intervention.
#3. Offer Omnichannel Chatbot Support
Crypto traders are going to have different preferences for the mode of communication through which they seek to support. If you are offering omnichannel client support through your crypto platform, you should also include omnichannel chatbot support to keep your clients in the loop, no matter which mode of communication they are using.
For example, a client scrolling through your social media feed may have a question or concern. Your social media chatbot can immediately take care of it.
#4. Power the Crypto Chatbot with Advanced NLP
Clients typically do not talk in short keywords or phrases but in their natural language. For example, the client may ask: “I completed my crypto transaction successfully, but it seems that my crypto wallet has not been updated yet. What should I do?”
An AI crypto chatbot driven by advanced NLP (Natural Language Processing) will be able to comprehend what the user is asking and what the exact user intent might be. Thus, the use of AI technology can boost the crypto platform’s ability to deliver high-quality live support 24x7x365.
Why H2cryptO Is the Best Cryptocurrency Exchange
The easy-to-use H2cryptO crypto exchange platform is outshining its competitors by taking client service to the next level with 24x7x365 accessibility and continuity. H2cryptO’s live support is equipped to respond to any client concerns or trading emergencies 24 hours a day, 7 days a week, and 365 days a year. Whether you are just starting on your crypto trading journey or you are a professional trader, things can sometimes go wrong for anyone.
When you have the backing of a client-focused crypto platform such as H2cryptO, you are assured of timely support in case of any misstep. The exchange’s empathy-trained, highly skilled, and dedicated crypto-tech client service team is available live to our users 24/7/365. The client care system is linked to cross-channel and omnichannel support and is a fully scalable, cutting-edge human/AI hybrid model tailored to your unique trading needs.
Email: Send us an email at Support@h2crypto.io along with whatever details you can provide about the concern you are facing. We will respond as soon as possible to your support ticket.
AI Chat: H2cryptO service team is available to chat with you 24/7 through our website. When you require urgent help, reach us through AI Chat. It will create a high-priority support ticket and you will receive the quickest possible response.
Phone: Our phone support is available 24/7/365. Call us at 1-307-888-4H2O (4426), and we will answer your queries. Note that nobody from the H2cryptO team will ever make a direct call to you.
Sign up with H2cryptO today and let your crypto journey begin with the best cryptocurrency exchange!
