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How to gain the trust of new crypto customers 

June 13, 2024

In the rapidly evolving landscape of cryptocurrency, cultivating trust with new customers isn’t just a goal—it’s a necessity. As the crypto market recovers from the significant shakeups of 2023, including the collapse of FTX, prioritizing trust-building initiatives is necessary for distinguishing your brand and fostering lasting relationships with discerning crypto consumers. In this blog, we’ll delve into practical steps to foster credibility among your crypto clientele from day one. 

Proactively send customers alerts and updates

Proactive communication is essential for building trust with customers. By maintaining open, transparent lines of communication with customers, companies demonstrate reliability and a strong commitment to security. Timely and relevant updates reassure customers, reduce uncertainties, and foster a sense of loyalty. 

With Telesign’s Messaging API, crypto companies can proactively send alerts and updates to keep customers informed and reassured across several channels, including SMS, email, and RCS. These messages can let customers know about fluctuations in their portfolio, potential security risks, or updates to compliance requirements. By promptly addressing these issues, companies can instill confidence in their customers and mitigate any concerns they may have. 

Additionally, proactive communications can be beneficial during product launches or updates, ensuring that customers are aware of new features or improvements to their services. This approach demonstrates a commitment to transparency and responsiveness, fostering lasting relationships with discerning crypto consumers. 

Our APIs and services are uniquely suited to address the challenges faced by crypto companies with limited resources and competing priorities. The Messaging API offers a seamless integration process, empowering crypto companies to enhance their communication strategies without requiring extensive development efforts. 

Verify accounts before processing transfers and transactions

Traditionally, crypto companies have utilized multifactor authentication (MFA) to verify new account requests and sign-in attempts. However, following the FTX collapse, there is a growing recognition within the crypto industry that expanding MFA practices beyond account creation and sign-ins is imperative. This shift reflects the growing importance of meeting the heightened security expectations of new customers. 

To set your crypto company apart and provide top-tier security for your customers, we recommend using MFA to validate users’ identities before authorizing:

  • Crypto transfers 
  • Crypto transactions 
  • Creating or importing wallets 
  • Personal account updates 
  • Password changes 

Depending on the specific features and functionalities of your crypto platform, there might be additional actions where implementing MFA could be beneficial. For instance, if your platform supports features like API access or account linking with third-party services, implementing MFA for these actions could also be advisable to prevent unauthorized access. 

This multifaceted approach to identity verification not only enhances security but also instills confidence among users, assuring them that their accounts and transactions are protected against unauthorized access and fraudulent activities. 

Telesign’s developer-friendly Verify API offers a versatile solution tailored for the needs of crypto companies. With its flexible and scalable architecture, the Verify API seamlessly accommodates the evolving needs and growth trajectories of crypto companies, ensuring that security measures can easily scale alongside the company’s expansion. This API supports multiple communication channels, including SMS, voice, and email, providing fallback options for failed deliveries to ensure message reliability. Whether you’re handling a small user base or managing rapid growth, Telesign’s Verify API provides a reliable and adaptable solution for implementing robust MFA experiences across various stages of the customer journey. 

Try it and learn more through developer resources

Take the next step by trying the Messaging and Verify APIs for yourself—talk to our experts today. 

Make sure to visit the Telesign Developer Center to learn about our APIs and quickly access documentation, GitHub repositories, and other technical resources.