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Why Should Crypto Exchanges Make Customer Support A Priority?

The world is spinning at record time, and people have loads to do. They do not have the time to stick around and wait for companies to simplify their product and process for their customers.

Which is why customer support and engagement are top priorities for most companies in the market. Support has to be prompt, diverse, easily accessible and convenient to comprehend.

Companies need to be more accountable for the services they offer to their customers in today’s day and age. The competition is cut throat and good customer service could be the deciding factor between customer retention and customer reduction.

It always helps to offer the customers something novel and exclusive, which they won’t necessarily find from someone else on the market.

When we talk about how cryptocurrency exchanges are performing in the market, a look at certain recent events do clearly indicate that there is a need for better customer service in the market. Consider the example of the QuadrigaCX fiasco, which raised a number of questions regarding the current system of customer service that crypto exchanges are providing.

After the sudden demise of Gary Cotten, founder of the Canadian digital currency exchange QuadrigaCX, almost $145 million worth of digital assets could not be accessed by the investors, as well as the company officials.

According to various news sources, Cotten had the sole access to the keys of the cold wallets, where the exchange stored most of its digital assets. His death resulted in all the investors getting locked out of their assets and being unable to access their money.

Now understandably agitated investors who no longer could access their own money, vehemently criticised the poor customer service offered by the exchange. The crypto community raised concerns regarding the degree of control that exchanges exercise over the assets of their customer base, lack of resources to deal with a crisis of this nature and inability of the company to placate their own customers vis-a-vis efficient customer support.

There was a demand for greater security for people’s investments. Within the cryptocurrency space, community assumes an important function. People from all parts of the world are gradually looking to invest in cryptocurrencies and they refuse to take mediocre customer service for granted anymore.

This is why it is important, now more than ever, to ensure that your cryptocurrency exchange provides prompt and efficient customer service to the customers.