While the lines of container ships waiting outside the nation’s ports are dominating news coverage, the crypto industry is experiencing its own bottleneck of epic proportions. Within the industry, it’s no secret that crypto wallets and exchanges are buckling under the pressure to onboard the unprecedented number of would-be investors while complying with a byzantine patchwork of regulations (including KYC and AML checks). As a result, prospective investors are waiting longer and longer to gain access to trading platforms, driving many to either seek out competitors or give up on crypto altogether. While it might be tempting to dismiss the current delays in onboarding as a champagne problem (after all, what company wouldn’t want their biggest challenge to be too many customers to onboard, too little time?), lengthy and complicated onboarding processes caused by antiquated identity verification procedures can slow growth and derail companies in today’s digital-first economy. To break through the bottleneck, a growing number of crypto companies are eliminating pain points like time-consuming step-up challenges with quick and simple identity verification flows that can be completed in one go. If you’re a crypto executive who is nodding your head to these challenges, here are 3 tips for breaking through the onboarding bottleneck:
Crypto investors don’t want to wait to get in the action, which is why quick, smooth onboarding and modern identity verification is a competitive advantage in today’s competitive marketplace. Contact Prove to learn how you can leverage phone-centric technology to break through the bottleneck and secure your onboarding experience today.
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