In the past few months, the market capitalization of cryptocurrencies listed on CoinMarketCap has reduced from $2.15 billion to about $1.587 billion at the time of writing. This represents over 26.1% decrease in about five months.

Irrespective of the present crypto winter, cryptocurrency exchanges has always attracted new users by using some crypto baits.

<strong>Some of the crypto baits include:</strong>
<ul>
 	<li>Trading competition</li>
 	<li>Initial Exchange Offerings</li>
 	<li>Crypto get together</li>
 	<li>Affiliate rewards</li>
</ul>
<h2><strong>Trading competition</strong></h2>
Cryptocurrency exchanges have always advertised trading competitions involving different tokens on top of the platform. This has given them the capacity to attract new users that want to gain some parts of the rewards assigned to different traders. New users who do not have account with them register and fund their accounts. This increases their number of users directly.
<h2><strong>Initial Exchange Offerings</strong></h2>
Initial Exchange Offerings is a way crypto projects partner with cryptocurrency exchanges and get their coin listed. IEO usually give its initial Investors high returns on their investment. With the announcement of new projects that have good prospect, investors who are not registered with an exchange gets registered, in other to get an opportunity to invest in the new projects. This directly increases the number of their users.
<h2><strong>Crypto get together</strong></h2>
In recent times, Cryptocurrency Exchanges organize crypto meetups with different users around the world. These meetups of their users offer different packages and bonuses to the participants. New users are always welcomed. This gives the influencers the opportunity to speak on the advantages one could enjoy by joining the Exchanges. This gives them the opportunity to recruit new users and also teach them different ways to get familiar with their products and services.
<h2><strong>Affiliate rewards</strong></h2>
Some of the influencers on social platforms like Twitter and Facebook put down the link to their account. While making YouTube videos, the links are also dropped in their descriptions. Exchanges as a means of marketing partners with influencers with very large followers to make videos about them.

In conclusion, with the increase in the number of Cryptocurrency users and the adoption of blockchain, exchanges will always have new users.

Crypto Baits Used by Exchanges to Attract New Users

Chukwuemeka Raphael is an author and cryptocurrency news writer/analyst. As a Mathematics graduate and trained analyst, he combines his Math knowledge and strong reading culture in contributing content and analysis for the development of cryptocurrency and blockchain space.

Crypto Baits Used by Exchanges to Attract New Users

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