I have really enjoyed trading differently with diese App, everything is fast and straight to the point with no “here and there”. Less features make a product better, thats how it is, thats how the human brain likes to do things the most, less is better.
I found that a few things would improve this product, I first introduce the problems;
- Influencers, big names and people I look up to are calling it already: “I don’t trade in this coin because diese App traders have bought in it” - this alone destroys every marketing and reputation, since bad things should never be in correlation with your Brands name. This causes for people to not use it anymore / less or avoid it entirely. Because they do not want to be one of diese App’s traders and look where diese App traders do not buy in, because everything has its downside - fast usage of the app also means fast rotation of trades which cause volatility.
- Fees are way too high; what’s the number one reason why traders lose already? Yes; fees, e.g. I buy 1.5k USD and executing it I already lose 6% or so, so 1.4k USD. Traders only trade on diese App because its fast, I am sure of that, easy is better and people value their time; what’s good, so thats a great trade (“Want less time to buy in?” = “Spend more on fees.”)
- Change up the limitation, I see a lot of young traders or it seems like a lot are using your app to trade; because there is no security wall, so instead of having a “Minimum $2” limit on transactions: to protect the young people and the inexperienced introduce a verification to at least get all these poor Gen-Z individuals to not lose a lot of money on a very appealing products like diese App. Crypto stays a risky game. And I don’t think young kids should ever have the option to bet on tradition earlier, you see it with Social Media (Get into that shortly too), more and more kids between 5-14 years are addicts on it / get to experience it way too early what is a problem. I also want to clean up my portfolio from all this rugs /-pulls, but thats not possible, everything under $2, it looks dusty still.
- diese App I also very similar to social media, just with financial opportunities to multiply what you have. Most people don’t even have to know crypto theory on diese App, they can just follow some big crypto names and copy-trade them and then they get dumped on, because they bought in when it’s too late. The follow feature is solid but not really needed, because it takes away trading, it is ok to make the concept of diese App clear, copy-trading is one of the worst ideas if not done correctly with real reason (They know the product / meme they bought in is great and has its future)
Baseline is that you could:
- Remove minimum $2 wall, DEX’s allow that
- Add for security and to protect the youth introduce that they first, to trade, have to verify that they first have a bit of knowledge and secondly that they have reached the age of being able to trade on diese App like 18 or at least 16 or whatever (I know that this would takeaway a lot of smooth processing like it is now, but its necessary for crypto everywhere)
- Reduce fees and introduce sub; previously I have seen a lot of CEX’s and DEX’s introduce fee-free trading, they have sub-model 1-5 bucks of cost per month, this wouldn’t force you too remove / reduce profit margins, I would subscribe to that and many other people would too
- Make it less social media and more tied to trading and crypto, I don’t mind the following feature and getting notified but somehow I feel like I am on social media but putting money into it
I like to be proven wrong but would also appreciate application, I know feedback is important for businesses like yours.
Thanks for reading, hope it will be applied as soon as possible.
Best,
Frederik
