Crypto currency exchange Binance, centralized stock exchange (CEX) decentralized stock market (Dex) launched the ability to process. Users will now be able to perform dex transactions using the funds in Binance wallets; Thus, the need to bridge or manual transfers will be eliminated.
New Binance Feature: Easy Transition from CEX to Dex
Thanks to this new feature offered by Binance, users will easily buy Circle’s USDC Stablecoin and other supported fixed coins, Ethereum, Solana, Base and BNB Smart Chain networks.
In addition, this innovation works in harmony with other vehicles of the platform, such as Binance Alpha and Binance fast purchase tool. Binance Alpha offers users the opportunity to explore new tokens in early development, while the fast purchase vehicle allows users to easily trader.
Adding the trading from CEX to Dex significantly improves the user experience and simplifies the process of exchanging digital assets. This innovation eliminates an important obstacle, especially for users who have just taken into the crypto world.
In the crypto currency world, complex interfaces and compelling user experience are among the most criticized issues. Binance’s move aims to reduce these technical challenges and make new users access to the crypto world more easily.
How will the user experience problem of the crypto world be overcome?
In November 2024, the Walletconnect Foundation and Reown created a standard framework to improve and make it more accessible to the use of crypto wallets. Pedro Gomes, Director of the Walletconnect Foundation, said that this framework covers several important areas:
Reducing the number of clicks, minimizing process friction, increasing coexisiness and providing clear and understandable information to the user.
Anurag Arjun, one of the founding partners of the Polygon network, said that the current blockchain abstraction techniques broke liquidity throughout the ecosystem. Emphasizing that each blockchain network has its own safety assumptions, Arjun said that this situation creates difficulties in terms of workability. He pointed out that bridge techniques are complex for the user.
User experience is essential for mass adoption
Polygon’s other founding partner Sandeep Nailwal expressed similar views and said that the user experience should be improved in order to adopt the crypto currency world by large masses. Nailwal stressed that the current situation of the crypto currency sector to the internet age in the late 1990s and emphasized that some steps should be taken to reach mass adoption:
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More fluent Fiat integration,
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Better storage solutions with key recovery features,
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Equipment wallets integrated into mobile devices.
According to Nailwal, unless these innovations are realized, the crypto world will still remain in the “Aol Age”.
Binance’s move is one of the latest examples of the steps taken to improve the user experience in the crypto world. This feature, which facilitates the transition from CEX to Dex, can encourage the use of crypto currencies by a wider audience.
