Binance is one of the most successful crypto exchange that reaches a daily of ten of thousands BTC volume per day and that's just BTC.
Last year, Binance just launch their Binance Token and was trading at $0.10. Within just months it manages to gain an enormous growth of 12,000% trading now at $12 per BNB token.
I guess that it was their "Marketing". All exchanges, decentralized or centralized, are all the same. Though they have "some different features", they are the same when it comes to trading. The only thing that makes an exchange especial is when "more people are using their platform". Achieving more audience is quite difficult especially when we are talking about investing their hard earned money into the hands of these exchanges. The easiest way to do this is gain their trusts.
Trust is the most important role when it comes to money. Without it, people will never use the exchanges they don't trusts. But, Binance exchanges manages to do it somehow. If we compare Binance to Openledger we can see the difference immediately when it comes to performance and volume. Also you can notice how Binance's marketing attract more investors on their exchange. One is by giving them reward by using their exchange.
A happy rewarded investors will tell it's friends.
Rewarding people is the most common strategy when trying to attract more investors. Let's for say a raffle or random dropping assets by just trading on their exchange. Giving investors a pinch of your earning will not going to hurt your pocket.
Next is having a good customer support. Back then when I was working on customer service, I notice that if the customer doesn't like how the customer service treats them, the chances of getting back their trusts are low. Some of them immediately move in other services that offers better customer support. When I say good customer support. This means responding immediately to the customer that's having issue on their platform.
Advertising their platform is also one way of gaining more audience. Just like on their OBITS video, advertisement can give them more income just by reaching more people through the internet.
There are more ways to do this. Openledger need to step up their game so that they can make their platform profitable just like Binance.
Read my blog about OBITS by clicking the link below
https://steemit.com/bitshares/@docmastery/obits-will-soon-be-the-new-ocash
Please take time to read. Thank you!
https://steemit.com/bitshares/@docmastery/helping-bitshares-network
Help me help Bitshares Network to have a better node connection here in the Philippines. As of now I'm nowhere near my goal.
