How to Start a Cryptocurrency Brand in the US

The Four Horseman of the Apocalypse are here! Not to be mistaken for famine, war, pestilence, and death. The famous four refer to Elon Musk, the People’s Republic of China, leveraged trading, and regulators acting on behalf of the U.S. government’s insistence on threatening cryptocurrencies in order to protect the U.S. dollar and other depreciating fiat currencies.

The cryptopocalypse is upon us! Sell your Bitcoin Cash, Ethereum, Litecoin, and Ripple while you still can, for the hour of judgment is upon us. Repent, you margin traders! Repent, you non-fungible token collectors!

In such a climate of gloom and doom, one might be reluctant to start a cryptocurrency business. However, advanced traders like Warren Buffet have always said that you should be greedy when others are fearful. What is an apocalypse, or a cryptopocalypse, for some, is really an opportunity for others. The secret is building your brand.

The Art of the Call Center

The first part of building a brand is building an exceptional customer experience. Depending on what your crypto business is—whether it’s cryptocurrency exchange or simply a form of goods and services that accepts cryptocurrencies, non-fungible tokens and other digital assets as a payment method—you might be required to absorb a high call volume.

In such a high call volume situation, you might want your business to acquire the services of an interactive voice response call center. Many businesses and exchanges in the crypto world have experienced shortcomings in their customer service and customer satisfaction. This is primarily due to their mismanagement of incoming calls and inbound calls.

Callers get frustrated when they cannot talk to a live agent and even more frustrated when they have to deal with chatbots that are impersonating a live agent. When their account balance hangs in the balance, the only right agent is a live agent.

An interactive voice response system, however, uses IVR technology to reduce hold time and create a superior customer experience. Through IVR software, the caller is able to use the IVR menu to convey relevant information and reduce the hold time before talking to a live agent. Thanks to the IVR system, callbacks are reduced as well.

The Art of the Cryptocurrency Exchange

There are a lot of exchanges out there with varying degrees of security, ease of use, customer support, and customer satisfaction: Binance, Kraken, Gemini, Robinhood, etc. Coinbase review discusses these and other exchanges but naturally is biased in favor of Coinbase and its subsidiaries, Coinbase Pro and GDAX.

What does make Coinbase stand out, however, is that it provides its own crypto wallet, the Coinbase wallet, to Coinbase users. This provides an added layer of security for the digital assets and personal information of anyone who holds a Coinbase account. Other important security features employed by different exchanges include private keys, hardware wallets, and FDIC insurance.

Ease of use is also an important quality for any crypto exchange that wants to build its brand. Many exchanges do not sell cryptocurrency in exchange for fiat currency. Rather, they expect traders to purchase stablecoins like Tether (USDT). Therefore, the timely and convenient withdrawal of digital currencies from the exchange is of paramount importance and that is why an exchange that hands a high call volume and gives callers access to live agents will have a better brand than those who do not.

Branding Conclusions

There is definitely a downside to crypto trades, risk. Those crypto businesses that can reduce that risk by managing digital assets through reliable exchanges with efficient call centers will create happy customers. A growing customer base is the surest path to building a brand.