TECHNOLOGY
“ It is important that the entire community is aware enough to steer clear of adopting the stereotype that all cryptocurrencies are untrustworthy scams , as it would damage the reputation of tokens and coins that are actually legitimately safe .”
How can crypto tokens stand out in a crowded market ? ETHAX was launched in May 2022 , intended to lower access barriers into cryptocurrency and make the process of investing safer and easier . With so many rival tokens on the market , Da Rosa says that new cryptocurrencies “ should always aim to stand out but not at the risk of compromising your mission ”. He explains that ETHAX ’ s differentiation is partly built on its design , brand message and its entire proposition – including introducing safety , loyalty and trust into the crypto market .
“ In short , it ’ s very difficult to secure buy-in , particularly if you have no track record ,” Da Rosa says . “ Being an unknown in the cryptocurrency market presents difficulties with general market adoption .
“ Crypto illiteracy poses a challenge for on-chain growth as investors have become wary of more advanced functionalities such as staking ”
“ We would like to see a complete shift in the cryptocurrency industry that encourages companies to be licensed and self-regulated ”
DAN DA ROSA CEO AND CO-FOUNDER , ETHAX
“ You can use classic marketing methods to grow awareness , and we ’ re seeing a lot of cryptocurrencies leaning on digital innovation and social media growth to expand their market share . But you walk a fine line by anchoring yourself early on to a message that doesn ’ t represent you and can ultimately ruin your reputation .”
On top of the challenge of standing out against other currencies , new entrants also have to wrestle with a general lack of understanding from everyday investors . According to a recent survey from Cardify , one in three crypto investors say they