- >Crypto.com Paves Way to Adoption with 3 Million Users
Crypto.com Paves Way to Adoption with 3 Million Users
Crypto.com is one of the fastest growing cryptocurrency companies on earth. Beginning in 2016, and formally launching in 2017, Crypto.com has come a long way in just 3 short years. In September of 2019, they hit 1 million users. In March of 2020, they hit 2 million users. Just two months later, they added another million users to their platform. About 1% of the world population is using cryptocurrency on a regular basis. That’s about 70 million people. An estimated 19% of the world has purchased cryptocurrency. That’s about 1.5 billion people. These statistics are simply being used to illustrate the point that Crypto.com has plenty of room to grow.
Keegan Francis | Oct 13, 2020
The Goal of Crypto.com
The CEO of Crypto.com, Kris Marszalek has disclosed the goal for Crypto.com. 100 million users by 2025. This is a completely reasonable, and achievable goal, considering that the entire cryptosphere has 70 million users now, and 1.5 billion people involved worldwide. Crypto.com is a bit like the PayPal of cryptocurrency. They’ve got a very attractive value proposition. They are offering many of the financial services that banks have to offer, except for cryptocurrency. In a lot of ways, Crypto.com is offering people a way out of the traditional financial system. As cryptocurrency becomes more mainstream, people are naturally looking for more and more ways to store, and grow their finances. Crypto.com has their sights set on mass adoption.
A Foundation of Trust
One of the most appealing aspects of Crypto.com, is how much focus they’ve put on building trust with their user base. In order to offer world class cryptocurrency banking services, Crypto.com had to first establish trust. Upon entering the website, we see the deep blue tones often associated with trust. After exploring the Crypto.com security page we can see that Crypto.com has focused the foundation of their technology on security. This is a very sensible thing to do when starting a cryptocurrency business. It seems like everyday we hear of scams, hacks, and ponzi schemes taking place. Just last week, Crypto.com partner Wirecard was caught missing $2.1 billion dollars. It would be reasonable to expect Crypto.com to have lost user funds, and discontinue service. Instead, Crypto.com reimbursed user funds within 48 hours, and their services returned later the same week. This incident is a massive trust builder.
Crypto.com to Tackle Business Giants
Crypto.com has employed a slow and steady approach to their growth since their inception in 2016. Binance on the other hand has between 13 and 15 million monthly active users. This scale of service was able to be achieved at breakneck speed. Binance launched in 2017, and rose to top 3 cryptocurrency exchanges within 5 months of their launch. Crypto.com is much more than just an exchange. They provide borrowing and lending services, cryptocurrency index funds, and a host of everyday payment options. We can now begin to see the broader plan of Crypto.com manifest before our eyes. Yes, they’re fuelling the mass adoption of cryptocurrency. But they are doing so through capturing crypto exchange users, decentralized finance users, and everyday payments. Business giants such as PayPal, Binance, and even JP Morgan ought to watch out. Crypto.com is no longer in the little leagues. They’re showing the world that they’re prepared to bring world class cryptocurrency services into the hands of the ordinary individual.