Ran NeuNer, the founder of the OnChain Capital strikes the crypto exchanges issuing a warning that once the markets normalize and turn to a more stable situation, the crypto fanbase and analysts alike are likely to go tackle the harsh conduct of the crypto exchanges with zero customer support and other similar support renditions. Such drastic services are yet to be ignored as the crypto markets struggle to surpass the level of maturation that the authorities demand in every ETF or crypto reform proposal rejection.
NeuNer sides with the crypto users that besides rooting for the crypto markets to excel further in eyes of the government authorities, the basic user has to resort to what little or no support the exchanges offer regardless the crypto scams that haunt the markets. BlockPublisher was able to obtain NeuNer’s explanation on this as:
The exchanges have performed below the mark providing so little of a support for their customers with lame services of acknowledging deposits late. With the crypto markets undergoing normalization and reforms just around the corner, once the markets mature, we will never forget the behaviour the exchanges had for the customers. The exchanges should have approved their KYC timely.
With the ever-growing trend of the cryptocurrencies either as the necessity or as a way to look cool, there started an increase in the need for better and large platforms to deal with the immense amount of customers to handle their transactions and the storage issues. Thus, there rose more crypto exchanges coming up additionally with their very own cryptos most of the times. This has increased competition which is a good omen but also has yielded many cryptos which are polluted by the scammer and fraudulent agents impacting adversely over the entire crypto image.
These exchanges have been causing chaos since their untimely beginnings and are yet to baptized before we delve into the crypto-friendly future. The exchanges have served their customers badly and did the same to the entire crypto concept altogether. NeuNer came up with objections and the then-needed-necessities which could have adorned the crypto market with much-matured exchanges adding the much-required charm to the market instead of being among the many reasons for incumbent authorities backing down on approving crypto reforms.
NeuNer points out that the exchanges should have approved the Know Your Customer (KYC) operations. KYC should have informed the exchanges of their customers enabling them to serve the customers better and more securely identifying them. Though none of this has been accomplished currently, NeuNer is optimistic that we might see a crypto future not far off in the future.