On December 14, 2021, Haipo Yang, the founder of CoinEx, answered questions from netizens on Twitter. The questions center on the efforts CoinEx has made in the past four years to become the world’s best crypto trading platform. In his answers, Haipo shared his views on crypto topics such as investment categories, regulation, and products & services.
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CoinEx Founder & CEO Haipo Yang (Photo: Business Wire)
1. Of the many ups and downs CoinEx has gone through in the past four years, what was the most complicated challenge? How did you meet it?
Feeling lost was the most complicated challenge we had. We struggled to find the answers to many questions, including: What kind of exchange should we be? How do we realize this? Does the future look good for the crypto industry? Personally, I felt lost, but the team was even more so. Many start-up teams will be able to relate to this. Fortunately, we pulled through.
In my view, the most crucial thing when we face such a challenge is to have faith. We must believe that blockchain could change the world, that we could find a suitable direction for growth, that the team will grow stronger, and that the market will usher into a bright future. I’ve also kept improving myself in different ways to study CoinEx’s strategic goals and identify the right path while sharing my thoughts with the team.
2?As we all know, you aim to turn CoinEx into a mainstream exchange. In your view, what is needed to achieve this goal?
Yes, my goal is to help CoinEx grow into a great exchange, as well as the infrastructure of the blockchain world. To achieve this goal, we need to build a strong, global team. On the one hand, CoinEx should provide safe, stable, simple, and easy-to-use products to meet the demand for crypto trades among investors. On the other hand, in the inherently globalized blockchain market, we need a global team for promotion in different markets so that CoinEx will be available to users in more countries and regions.
3?Right now, most investors are only concerned with their immediate profits while ignoring their long-term interests. What is your suggestion for such investors? Why should they choose to purchase and hold these tokens over the long run?
Investment is a highly specialized field. We all know that one needs to learn how to swim before jumping into the pool. However, most people have had no training before diving into the investment market. Throughout the years I spent in investment, it has become clear to me that the failure rate of short-term trading, especially highly leveraged trades, is staggeringly high, and only a few extremely gifted investors win the game. For most people, long-term investment promises a higher success rate. However, this is not to say that you can sit back and relax after making a purchase. Instead, we need to stay updated on the developments of the target project. More importantly, we should embrace new developments and concepts that keep popping up with an open mind and capture the latest crypto trends by adjusting our investment portfolio.
4?There must be an experienced team behind all the great features of CoinEx. Could you talk about your team and their background?
We do have rich experiences in the crypto industry. In the early days, I had worked as a software engineer at Internet giants like Tencent. After going into the blockchain space in 2014, I had been involved in the development of mining machines, mining pools, cloud hash rate services, wallets, exchanges, and public chains. To me, security and the relevant background are always a priority. As a result, CoinEx has never suffered any major security breach. I started my own company in 2016. Most of our staff are recruited and trained by me personally, and many of them have a strong background in their field. Over the years, the team has been fast-growing. Right now, CoinEx is powered by a team of more than 200 employees across the globe, over 60% of whom focus on products and R&D.
5?After the launch of many games that support cryptos, will CET offer more support for games?
I have strong faith in the prospect of GameFi because games and blockchain make for a perfect combination. Last year, we built CoinEx Smart Chain (CSC), which adopts CET as its built-in token. To expand the CSC ecosystem, we have launched investment and support programs worth $50 million, with a focus on DeFi and GameFi. As the CSC ecosystem continues to develop, the value of CET will also grow higher.
6?What sets CoinEx apart from the many exchanges out there?
If I was asked to summarize CoinEx in a few simple words, my answer would be secure, easy to use, reliable, and global. As the biggest threat in the crypto world, security is the top concern of CoinEx. Keeping your assets secure has always been our No.1 priority. Meanwhile, CoinEx is also striving to create products that are easy to use. We aim to offer improved user experiences and meet users’ needs for crypto trades across the board. Additionally, to ensure that each asset listed on CoinEx meets our listing criteria, and to provide reliable options for users, CoinEx conducts extensive reviews for all assets on its platform. In the inherently globalized blockchain market, we have continued to localize our products so that they will be accessible to every person in the world.
7?Do you plan to create a CoinEx wallet where we can hold/stake CET and become long-term holders?
Apart from storing CET on CoinEx, we recommend using ViaWallet, which is a decentralized wallet developed by the CoinEx team that supports multiple cryptos. It allows users to manage multiple in-wallet assets on a single application. On ViaWallet, you can store and stake CET to get more benefits. Moreover, you can also tap into projects in the CSC ecosystem. In the future, as the CSC ecosystem matures, there will be a lot more scenarios where CET can be used.
8?As a CET holder, I’d like to find out more about CoinEx’s launchpad.
The launchpad is a key product on any exchange. However, we are also very careful because investment involves great risks. To this end, we have made tons of preparations to make sure that the projects we launch promise high quality. What I can tell you is that launchpad is coming soon.
Founded in 2017 under ViaBTC Group, CoinEx is a professional crypto trading platform for the world. Its founder Haipo Yang had his first introduction to Bitcoin in 2011 and became a member of the Bitcoin community in 2013. In 2016, he deployed and developed a Bitcoin mining pool named ViaBTC Pool, which was launched two months later. It is noteworthy that all the codes of the mining pool were written by himself.
In the following year, Haipo started CoinEx. The exchange, born during the height of the crypto market, is a major part of the ViaBTC ecosystem. ViaBTC’s influence and leadership in the field of mining pool offered strong backing for CoinEx in its early stage in terms of technical capacity, resource support, marketing & promotion, as well as its globalization strategy.
After four years of ups and downs, CoinEx has now evolved into a professional crypto trading platform that offers a wide range of crypto trade services, covering spot trading, margin trading, perpetual contract, AMM market making, mining, and financial service, to users in over 100 countries and regions. Aiming to build its own crypto ecosystem step by step, the exchange also launched the mainnet of CoinEx Smart Chain (CSC) last year.