Crypto Adoption Essentials: Familiarity, Reliability & Security - TOKEN2049 Singapore 2023

so we are a super intelligent crypto trading app for web3 beginners and everyone over here in this conference in the last two days have been talking about how do we focus on mass crypto adoption that's the biggest challenge every founder every uh you know crypto Enthusiast or the ecosystem people are trying to solve right uh we all are solving this problem in different ways and means and we have been looking at solving this challenge of mass crypto adoption at a very different uh method right so the idea is right uh we are focusing on these three words which are very very important right so familiarity reliability and security so these are the three important words we as Founders will have to look into when we are moving towards focusing on mass script to adoption let's see how do we do that so if you really look at it these are the major three challenges that we have looked into like why there is some kind of a resistance or hesitance and and and Adoption of cryptocurrencies right uh there's a misunderstood user Behavior there's unfamiliar adoption methods and we have got mismatch reliability and security standards so when we when we say these These are in comparison to the web 3 and the web 2 ecosystem so when we are looking at onboarding the web to ecosystem we've got like more than two billion in 2 billion retail investors wanting to come into the space but they have these challenges so how do we solve these challenges and what are these challenges right so let's focus on them right so if you really look at it the navigation process in the web3 ecosystem is like an alien process so when I go to a web 3 a proper web3 ecosystem product you know I would be like lost I don't know where to start what do I do and it's quite unpredictable when I try to move to the next step I don't know what's going to happen in the next step so these are the challenges to web to investors are facing every day and there's a lot of drop-off that we see happening right that's one part uh so you know imagine all of us are used to this mama Behavior so what is this mama Behavior we are used to Amazon like experience we are used to Microsoft like an experience we're used to Facebook like an experience right but when we go to the web 3 ecosystem we don't find these experiences and imagine not finding a friend in an unknown place what would you do you would be lost right so so these are the challenges we'll have to look into right so another major challenge is the adoption methods if you want to register on a web 3 ecosystem it's still a challenge you know you may have to understand a lot of things terms conditions smart contracts people really don't get this right how do you make it simple right so so these are the other things that we need to look into yeah another major problem that uh web 2 users face while getting into web3 and trying their trying products out is about the mismatched standards for security and reliability right so so for example if I would want to test the reliability of some products on the web to ecosystem I would look into say uh the the domain Authority and all that stuff so that thing is missing in the web 3 ecosystem as well right so the tools that the web 2 users use to verify the reliability and security of the products are not compatible with the web 3 ecosystem right so we will have to see how we can solve these challenges so these are the broader three challenges that uh coinbasket has identified and we are trying to solve these challenges for the users right so that's the whole idea so what is the thesis of coin basket so what what are we trying to solve right so what we are trying to do is transform the web 3 user experience into a web to user experience so what do we do it's it's very simple starting from the onboarding process the navigation process even the naming conventions keep the names keep the terms simple for for the web to users so that they understand what they are getting into right and then about your reliability and Security checks right so basically you give a web 3 product wrapped in a web to experience so that is what we are trying to do and this is this has been really helpful for us as well so this is what we are trying to achieve right so imagine a lot of the investors today love the experience of shopping more than the experience of investing so if you talk to investors about investing it's it's a challenge right and you know but if you give them the experience of shopping it's a different level so there's more engagement there's there's there are lesser drop-offs right so what we want to do is combine the experience of shopping like Amazon and give the research intelligence of Bloomberg so we're combining these two things and giving and giving it up on the platform of uh point basket right so how do we do it how do we do it so as simple as this onboarding can be as simple as signing with Google can we just make it as simple as this right so what we've done we have integrated with binance we've integrated with coinbase a proper integration a deeper integration where you do a login with binance how you do a login with Google or a login with LinkedIn right so it's absolutely easy you do this you get the access to both coinbasket and binance right and then you'll be able to seamlessly experience the product so what happens is what we're trying to do is like as I said familiarity is an important aspect here as soon as you see the experiences okay this is like login with Google and so I need to just log in with binance so I I get that predictability and Trust factor into me and if you move ahead and do something this is something very interesting if you really look at it all the crypto exchanges the platforms what we see the kind of UI they present and the kind of UI you are seeing on the screen right now it's a whole lot different right so we've made it really simple for the users to kind of come to the platform choose what they want we've made the decision making process very very simple for the users just imagine you select the exchange select the coins whether you want a multiple coin like a basket or a single coin you you select them based on their health rating you select them based on the risk appetite and you create a diversified basket and invest in a click of a second just like maybe two three seconds maximum five seconds you'll build a diversified portfolio of your own knowing that you've invested in good cryptocurrencies so this piece is missing in the market and we're trying to build this again the focus has been like it's so predictable I know I'll have to go through the screener it's a very simple screener I get a selection and I just put the selection into a bundle and buy that basket seamlessly right so so this is what we have tried to uh achieve and it's it's been working wonders for us because the web 2 users trying to get onto the web 3 ecosystem are finding this is familiar it is reliable it is trustworthy and they're moving ahead and doing transactions that's very important so these are the Partnerships we have so we are a small startup we we are a seed startup and we've managed to crack Partnerships with binance and coinbase uh these are the two these are the two biggest names the users can think of and we we have both of them and there are more in the pipeline right so I mean this also helps in building the trust and confidence for the users that you know if you have partnered with with with large teams you will be doing well and it will be much much secure and safer so what we have tried to try to is trying to you know put in all the things what an investor would be expecting on a platform right so what are these things that an investor would be looking on a crypto investing platform right so imagine your investment is always backed by solid research you are taking an informed investment decision so you're not getting into impulsive losses we are talking about no custody of funds because you keep your funds and Assets in your own exchange whether it is binance coinbase or any other exchange so your funds and assets are with you under your control we don't take the custody of funds and assets right and the best part what we have tried to do on this platform is avoid any kind of risky products like you talk about fno products Perpetual contracts Short Selling we've tried to kept these things away because these are the things where maybe initially the users come on board but again they lose they come out of the platform quite soon right so we didn't wanted this to happen we want user to come on board and stay long maybe not months but years right that was the whole idea and obviously right so we are also looking at that seamless onboarding and experience where you just log in with binance as if you're logging in with Google and you move ahead and start your journey so that's as as people is that right so we are backed by good investors we have uh Sandeep from polygon who's who's invested with us Umar Rahim was a former director of binance we've got Naveen who's who's the managing director for ripple in the southeast Asia region and a lot of other VCS like Strong's fund we've got Angel list Quant fund so all these people have like backed us up yeah so so these are the investors who have shown confidence in in coin basket and we're really doing well just to give you with balance bionic form and since then the numbers and the conversions have been like skyrocketing so we have the sign up to transaction conversion of more than 20 percent we have the sign up to transaction conversion of more than 20 percent people connecting their exchange to transaction ratio is around 40 45 sometimes it goes up to 65 percent so those are the kind of conversions we're looking at so yeah this is what we've managed to do so far and good tractions so far this is about the team uh I have uh close to around 15 16 years of experience and regulations heavy Industries like Insurance stock broking wealth management uh across geographies and uh my CTO has worked with PayPal he was also the CTO and the co-founder of one of the YC funded startups earlier so yeah that's it thank you so much thank you