As public awareness of cryptocurrencies continues to grow, there is one issue the sector continues to address: trust.
According to a study by Edelman, only 48% of people trust digital assets. Although this is 11% more than the year before, it is still lower than banks, credit card providers, insurance companies and the financial services sector as a whole.
The report also says that the level of trust may increase if the industry doubles its efforts to educate the public by demonstrating different uses for cryptocurrencies and clearly explaining the advantages and disadvantages associated with this asset class.
Since many cryptocurrencies projects present their products in a very technical way, while others provide little transparency, it can be difficult for consumers to access objective information to help them make a decision.
Cryptogeek is one of the sites that want to change that. The team, which was launched in 2019, says that it provides independent insight into the cryptocurrency and blockchain projects, and gives readers short, useful reviews they can trust.
The company already has hundreds of reviews available for crypto enthusiasts covering exchanges, wallets, coins, mining and games. These guides are written by a group of experts and are designed to beat the noise and provide facts that random users will know.
For example, the neutral ratings of the Cryptogeek exchanges clearly show fees for different types of transactions, examine the main features of the trading platform and criticize the security measures taken to protect users.
what is the result?
Concluding each Cryptogeek review, accompanied by useful screenshots and subtitles, the platform provides an overall rating for each project based on five factors: function, reputation, security, support and fees.
More info from CRYPTOGEEK here
Of course, a reviewer’s experience may differ from the one who uses these platforms regularly. This is why each brand page also includes an assessment based on feedback from audience members. These reviews are uncensored and give brands the opportunity to track their reputation online. Actors can easily respond to reviews from Cryptogeek users, either acknowledging praise or troubleshooting. Over time, this can help increase the level of industry responsibility.
In general, it all comes down to the idea that consumers of cryptocurrencies can make informed decisions. One of Cryptogeek’s latest features is a tool where users can enter the names of two companies and immediately compare the features. For example, the site compares Binance and Coinbase side by side, balancing the two major exchanges based on fees, supported languages, trading volumes, number of cryptocurrencies and trading pairs displayed, and their arrangement as determined by Cryptogeek and public. At the bottom of the page, the two winners are highlighted based on points.
Benefits for everyone
Cryptogeek claims that the database benefits everyone: customers who want to share reviews of their products with the crypto community, beginners looking for unbiased expert reviews and useful guides, and companies interested in getting feedback from users.
Platforms interested in spreading the word can easily fill out an application form for a brand page on the Cryptogeek website. Applications are usually considered within a few days.
Cryptogeek has already entered into several partnerships with other brands of cryptocurrencies, including the price data platform Coin360 and the brokerage firm Bequant.
In these difficult times, trust is important. Platforms aimed at educating the public about the prospects and potential disadvantages of digital assets and service providers will help the crypto industry become more relevant to the public.