Great Potential
Everything is very smooth, from first joining in, onboarding to deposit to start earning interest. I tried Earn, Earn Plus and Invest, so far so good. The main draw is the very competitive base APY rate for Bitcoin and Ethereum and it accrues interest daily. But with earn plus and invest, you lock up the fund for a period of time in return for a much higher rate. The website works great and is clean and minimalistic. The security includes two factor authentication. Customer service is great. I was shocked at how fast the response from live chat. I’m not sure if this has to do with the small size of customers or it will degrade after it grows, but quick and knowledgeable customer service is crucial for something like this. The only person I’ve interacted with is Tim, hopefully they have more than one person that handles all the queries though. One odd thing is that there’s not an app. The site appeared so optimized for the app, in fact it looks horrible on PC desktop. I’m not sure why the app is still not here yet, should be just simply port it over. The workaround is to save the bookmark as a home shortcut icon. It works just like an app. In the future, I do want to see the app integrate biometrics so it doesn’t prompt for two factor auth code every single time you tried to log in. They say the app is coming this summer so we’ll have wait and see. They also need to work on the referral program. In order to invite someone, you have to write a review then they can send you a form to apply for referral. This seems counter intuitive. You want to get the word out and get as many people as possible onboard. Do something like Celsius, give members referral codes in their profiles so they can easily share the code. I also worry about sustainability, I understand they take a fee from the Invest product, but I’m not sure how they are paying the high interest rates for Earn and Earn Plus if they don’t loan out deposits. Trust is always a nerve in the unregulated crypto space. They need to work on trust and transparency. Post some bio information about the funder/CEO and the management team. Do a weekly AMA on Youtube like what Celsius does. Recruit champions or ambassadors. Communicate news and changes with customers frequently via email. Update us the project roadmap and any reached milestones on discussion platforms like Reddit. We want to learn everything the company is up to and it’s crucial to keep customers informed.