Here Are The Keys To Massive Crypto Adoption! According To The CEO Of X10

Despite the resounding collapse of the crypto exchange FTX, centralized exchanges (CEX) remain essential for attracting the general public to the industry. These platforms are often the first point of contact for newcomers to the world of cryptocurrencies! As a result, it is likely that the next 100 million adopters will enter the industry via CEXs.

CEX: The Gateway to Massive Crypto Adoption!

According to Ruslan Fakhrutdinov, founder of the trading platform X10, CEXs will continue to lead the way for now. It is much easier to transition a user from a centralized exchange to a hybrid exchange than to introduce a new user into the space. Trust in the underlying company and a more intuitive trading experience are the main reasons why new crypto investors choose CEXs.

To attract more traditional retail investors, hybrid and decentralized exchanges need to improve the user experience and renew their marketing efforts. Hybrid exchanges, which combine the workflow and trading experience of CEXs with the non-custodial elements of DEXs, could restore trust after the collapse of FTX.

CEX VS DEX: Who Will Control the Ecosystem in the Future?

CEXs, which go against Bitcoin’s (BTC) decentralization ethos, are controlled by a central party. This inevitably creates third-party vulnerabilities. Despite the emergence of alternatives like DEXs and hybrid exchanges, CEXs control the majority of crypto trading volume. For example, the cumulative trading volume on DEXs reached a total of $3.56 billion over the past 24 hours. This is four times lower than the $15.1 billion trading volume amassed by Binance, the largest CEX in the world.

Finally, even though hybrid exchanges are emerging as a middle ground between CEXs and DEXs, centralized exchanges remain a key element for the mass adoption of crypto. They offer an accessible gateway for new users and will continue to play a major role in introducing cryptos to the general public. The future could see a coexistence of CEXs, DEXs, and hybrid exchanges, each playing a unique role in the overall cryptocurrency ecosystem.