80% of Crypto users say this is the key to building trust

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A new investigation by Crypto On-Ramp Network, the Crypto On-Ramp provider, once again confirmed that security and transparency concerns are the major obstacles to mainstream cryptocurrency adoption.

In a survey conducted directly on the Ramp user base (especially first-time buyers), 46.8% of respondents cited security as their biggest concern, while 80% admitted that robust fraud protection felt more comfortable taking the first step.

Security concerns among cryptographic newcomers

Research shows that potential crypto fraud, phishing attacks, and financial losses are one of the major problems faced by new crypto traders.

Meanwhile, 69.7% of intermediate and advanced users on the platform claim to be a user-friendly interface, for example.

This suggests that security and transparency are issues that need to be resolved before, not after onboarding.

In the words of one of the respondents:

“I don’t know what’s safe about freaking cryptography. I don’t know what platforms are safe. I just want to know if the wallet is not compromised or that the card data is not leaked.”

It is also noteworthy that some respondents claimed that they were willing to pay a higher fee if the security standards were higher. As one participant said:

“Security is more important than fees. If you feel safe, you’re willing to pay a slightly higher fee.”

How Crypto Traders Protect themselves

Rather than passive, new Crypto employers are taking more and more steps to protect themselves.

For example, many participants said they read user reviews, look for glitches in the app, and study more advanced aspects of the platform (such as smart contract activity) before committing funds.

In fact, RAMP reports that 33% of users who created multiple transactions started for less than $100.

Others choose a hardware wallet and refuse to use the platform without the customer (KYC) requirements that reside in the RAMP network.

As proof of its transparency policy, the RAMP network boasts compliance with Financial Crime Enforcement Network (FINCEN) registration in the US, UK Financial Conduct Authority (FCA) approval, Ireland’s Virtual Asset Service Provider (VASP) status, and Systems and Organization 2 (SOC2) Type 2 compliance.