In recent years, the cryptocurrency market has shifted from frenzy to calm. There was a time when Bitcoin and Ethereum were hitting new highs, NFTs and the metaverse concepts swept in, and new users flocked in; however, now, as the market cools, the growth of new users has significantly slowed or even stagnated. Projects continue to emerge, and technology continues to innovate, but public interest is increasingly confused due to fierce competition and a complex ecosystem. Why is it difficult for the crypto market to attract new users? Meanwhile, amidst user confusion, how can multi-asset trading wallets like BiyaPay find new breakthroughs and inject growth momentum into the industry? This article explores this core issue and analyzes the current predicament and future solutions in conjunction with BiyaPay's practices.

Currently, the crypto ecosystem is experiencing unprecedented prosperity and congestion, with various decentralized applications emerging one after another; however, the market is also facing the dilemma of stagnant user growth. The slowdown in new user growth is mainly due to complex experiences and market fragmentation. Compared to traditional applications, blockchain products have significant usage barriers, such as downloading and installing wallets, backing up mnemonic phrases, and paying miner fees, which make first-time users feel cumbersome. Additionally, assets between different public chain ecosystems are difficult to interoperate, causing users to switch between various platforms, increasing the difficulty of use. At the same time, countries around the world have varying regulatory attitudes towards cryptocurrencies, and ongoing security concerns, such as exchange bankruptcies, project scams, and frequent hacker attacks, have led ordinary people to doubt the crypto field, further exacerbating the psychological barriers to user entry. Coupled with high technical thresholds, significant risks of operational errors, and cumbersome account opening processes, many potential users choose to give up during their first experience. These factors collectively contribute to the bottleneck in market user growth.

BiyaPay Brings Breakthroughs to the Industry

In the face of various challenges, the crypto industry must start from lowering barriers, enhancing trust, and practicality. As a global leading multi-asset trading wallet, BiyaPay's innovative practices provide a powerful breakthrough direction: "One-click access from digital currency to global stock markets."

1. Instant conversion of USDT to mainstream fiat currencies, 0 barriers to access US and Hong Kong stocks

Investors only need to convert USDT to USD 1:1 through BiyaPay to directly invest in the US and Hong Kong stock markets without needing an offshore account. This process is fully online, operating 24/7 in real-time.

For example: When the price of Bitcoin breaks a new high, investors can immediately sell BTC, instantly convert to USD, and increase their holdings in Apple stocks, seizing dual profit opportunities amid market fluctuations. The traditional path requires going through three major steps: "selling coins on the exchange → withdrawing to the bank → depositing with a broker," which takes over 72 hours; whereas BiyaPay requires only one conversion operation, taking no more than 10 seconds.

2. Direct conversion of 30+ mainstream fiat currencies, covering 200+ digital currencies

In addition to USDT, BiyaPay supports direct trading of Bitcoin, Ethereum, and other mainstream digital currencies with over 30 fiat currencies, including USD, HKD, and EUR, with real-time exchange rates. This means investors can flexibly choose their funding forms.

For instance: When there are exchange rate fluctuations in the fiat currency market, one can quickly convert euros to USDT for hedging; when investment opportunities arise in Hong Kong stocks, one can directly use HKD to purchase digital currencies, achieving diversified asset allocation.

3. One-stop ecosystem: a closed loop from trading to remittance

BiyaPay's functions go far beyond trading. After converting USDT to fiat currency, users can directly deposit into brokers like Tiger Brokers and Futu without any limits on amounts, with same-day crediting; cross-border remittance fees are as low as 0.5%, reducing costs by 90% compared to traditional SWIFT transfers. This one-stop service of "trading coins - trading stocks - cross-border remittance" completely eliminates the hassle of switching between multiple platforms.

4. BiyaPay withdrawal without freezing cards

Directly using USDT for withdrawals often encounters a high probability of unclear funds; the truly safe withdrawal method is B2C, meaning the platform to individuals.

In many countries, trading coins is regarded as a legal investment activity, so the profits you earn from it are also considered legal income. You can transfer USDT from the exchange to an electronic wallet, then convert it 1:1 into USD or other fiat currencies within BiyaPay, and withdraw it to your overseas bank card (such as Wise, banks in Hong Kong, Singapore, etc.). BiyaPay ensures that your fund flow path is clear and transparent, avoiding various issues arising from unclear identities and fund sources in traditional OTC transactions. This not only reduces the risk of funds being frozen but also ensures the safety of your assets.

5. Compliant operations and security guarantees

In an increasingly stringent regulatory environment, BiyaPay has established a safe and reliable brand image by setting up subsidiaries in Singapore, the United States, Canada, New Zealand, and holding comprehensive financial licenses. It employs bank-grade security encryption and multi-factor authentication mechanisms to ensure fund safety and address various risk issues during the deposit and withdrawal processes, effectively rebuilding user trust. This not only attracts crypto enthusiasts but also meets the needs of traditional financial investors. Users can achieve cross-border allocation from digital currencies to traditional assets on one platform, reducing operational barriers and expanding the potential user base.

Future Trends and Outlook

Looking ahead, for the crypto market to achieve breakthrough growth, it must seize new opportunities in the Web3 era:

New business models driving growth

Social finance, NFTs, and the metaverse are expected to become the next engines for user growth. Social finance attracts non-financial users by combining social interaction with blockchain incentives; NFTs and the metaverse can bring art enthusiasts and gamers into the crypto field, breaking down existing barriers. In the future, BiyaPay may consider supporting NFT asset management, metaverse payment settlements, and other functions to further enrich user experience.

Brand marketing and user education

The crypto industry urgently needs to break the inherent impression of being "technical and mysterious" by using intuitive and easy-to-understand marketing language and relatable scenarios to convey the actual value of blockchain. At the same time, it should increase educational efforts through online courses, seminars, and KOL promotions to help users understand digital assets and lower mental barriers. Only when users truly understand and recognize the advantages of crypto technology can the industry usher in a new round of user growth.

BiyaPay Leading Industry Trends

As a pioneer in multi-asset platforms, BiyaPay will continue to improve its cross-border service matrix in the future, planning to expand into traditional financial fields such as foreign exchange, futures, and commodities; at the same time, leveraging its multi-license compliance advantages, it will play a bridging role between traditional finance and crypto finance against the backdrop of gradually clarifying global regulations. With the support of the Web3 ecosystem and decentralized services, BiyaPay may launch features such as non-custodial wallets in the future, further enhancing user asset autonomy and promoting the entire industry towards a safer, more convenient, and integrated direction.

Currently, the slowdown in user growth in the crypto market is due to internal factors such as ecological fragmentation, technical complexity, and trust crises, as well as external realities like regulatory uncertainty and frequent security incidents. In the face of this bottleneck, by improving user experience, optimizing processes, enhancing compliance and security, and providing diversified asset services, the crypto industry has a complete opportunity to welcome a new round of growth. BiyaPay, with its one-stop service, global remittance, strict compliance, and diversified asset allocation, not only provides convenience for users but also sets a benchmark for the industry. In the future, with the development of new business models in the Web3 era and increased efforts in brand marketing and user education, the crypto market is expected to gradually break through its predicament and move towards a more open and friendly ecosystem, attracting a massive influx of new users into this opportunity-filled new world of digital finance.

About BiyaPay

BiyaPay is the world's first multi-asset trading wallet, now enabling instant conversion between fiat and digital currencies, allowing participation in the US and Hong Kong stock markets with USDT, zero fees for spot/contract makers, B2C compliant withdrawal channels, secure withdrawals without freezing cards, effectively avoiding the risk of fund freezes in traditional OTC/C2C transactions, and providing practical solutions for crypto investors facing policy uncertainties.

This article is from a submission and does not represent the views of BlockBeats.

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