80% of first-time crypto users demand visible security: study

The latest Ramp Network user study finds fear of scams and fraud blocks of new cryptography adopters. Platforms must lead with transparency to gain user confidence.

New ramp network report reveals this visible security and Fraud prevention are important priorities for new crypto users, even more than the costs and the user interface.

According to the report, security remains the number one barrier at the entrance for new arrivals. Almost half of respondents (46.8%) cited “security problems” as the greatest frustration during the crypto purchase attempt.

For 80% of respondents, assurance of protection against fraud and security of accounts was the most important factor to decide to make a first transaction.

The RAMP results highlight a gap in the way the platforms have their safety features. While advanced users focus on design and interface speed, beginners favor visible security measures.

These include two factors, fraud detection tools, regulatory licenses and Kyc Checks.

“The thing about the crypto that is weird is that I don’t know what is sure,” said a respondent. Another added: “Security is more important than costs. I am ready to pay slightly higher costs if I feel more safe. ”

“ Trust test ” of the crypto

Ramp internal data support this model. Among the users who have made several transactions, 33% started with amounts of less than $ 100, only increasing after confirming the reliability of the platform.

This behavior reflects what the Rampe calls for the “trust test” – an initial transaction used to validate security before setting up.

The report also revealed that user confidence depends not only on robust back-end systems, but how these protections are clearly communicated.

“It is not enough to be secure – the platforms must demonstrate this security in advance,” notes the report.

Ramp, which is recorded with Fincen, FCA and the central bank of Ireland, says it has built its platform around compliance and fraud prevention to meet this need.

The company hopes that by prioritizing transparency and protection, it can help move the adoption of cryptography beyond the first adopters and in the financial current.