The core of cryptocurrency is decentralization, and this is the fundamental mechanism by which it addresses many problems in tradfi (traditional finance). The inevitable trade-off, though, is that it creates a cumbersome user experience, which only gets worse as you further diversify your cryptocurrency holdings by using more platforms, exchanges, or wallets, as Sean Kim, CEO and founder of GROW, a mobile application that enables users to earn crypto rewards, points out. The majority of cryptocurrency users, including GROW customers, use multiple platforms and services to manage their crypto assets, which creates a cumbersome user experience where tracking all crypto assets can turn into a manual and time-consuming task.
GROW’s app, MyCrypto, has a feature that lets users see their crypto assets on other platforms or exchanges, conveniently aggregated in the GROW app, making managing crypto assets simpler for everyone. While enjoying the convenience of seeing more of your cryptocurrency assets in one user interface, it is currently read-only, so there is no risk of any kind of unauthorised transaction taking place.
This week, bitFlyer, the newest addition to MyCrypto, was connected by GROW. “We appreciate that MyCrypto is a feature that can expand along with our user base and community. Since those two were the most representative of the needs of our user base, we began with Binance and Coinbase. Sean Kim states, “We can add more [exchanges, platforms, or wallets] that are helpful to our users to MyCrypto as we grow and the community of our user base expands.
The company plans to expand the capabilities so that users can actively manage assets on other services, such as transferring those assets, in the future. At the moment, MyCrypto assists users with aggregating data so they can see more of their assets. According to Sean Kim, this stage is known as OpenCrypto, and it represents the ideal balance between a decentralised, somewhat fragmented array of services and a centralised point of management for common users.
