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    How to simplify crypto derivatives with mobile experience — Interview with Flipster

    2024.01.17 | exchangesranking | 53onlookers

    Presented by Flipster

    Crypto derivatives stand out in the financial landscape as they leverage market volatility for potentially higher returns, making them particularly appealing to a new generation of traders keen on exploring beyond the limits of traditional asset trading. Recognizing this need, Flipster, a crypto derivatives trading platform, aims to simplify the onboarding process, ensuring that these sophisticated trading instruments are accessible and understandable to newcomers venturing into a dynamic market.

    In this interview, Ben Rogers, head of marketing at Flipster, shares insights into how Flipster meets the complex needs of today’s crypto traders and positions itself in the competitive world of crypto derivatives.

    Cointelegraph: You have a lot of experience in tech and crypto marketing. Please tell us about your background in the business. What are you working on nowadays?

    Ben Rogers: I think I now have more than 11 years of experience in marketing and product management. I have worked for Fortune 500 companies and have been involved with numerous startups, including in the Web3 space.

    I was the first chief marketing officer (CMO) of Binance’s crypto travel company, Travala.com.

    CT: The crypto landscape is an ever-changing one. How have the needs and preferences of crypto traders evolved in recent years?

    BR: The demand for user-friendly platforms has skyrocketed, bringing the need for mobile trading, real-time analytics and intuitive dashboards. Traders are increasingly diversifying their asset portfolios, expanding beyond Bitcoin (BTC) and Ether (ETH) into a broader array of altcoins.

    Security has become a top priority for traders who are seeking platforms that adhere to stringent regulatory standards. Moreover, the educational needs of traders have undergone significant changes. Early adopters were self-taught, but newer traders often seek platforms offering educational resources, community support and guidance.

    CT: Are there any specific trends unique to bull and bear seasons that shape the expectations of the user base?

    BR: In bull markets, the user base shows heightened risk tolerance. This leads to speculative trading and diversification into riskier asset classes. Leveraged trading becomes more common as traders seek to amplify potential gains during bullish periods. There’s also an increase in investments flowing into projects with innovative technologies or unique use cases.

    In contrast, bear markets bring increased market uncertainty and risk aversion. Traders prioritize safer investments, focusing on long-term strategies and established projects. Many view this as a chance to accumulate assets perceived to be undervalued and explore alternative revenue streams.

    CT: Which solutions or features did Flipster introduce to cater to the evolving demands of crypto traders?

    BR: Flipster is built specifically for mobile devices, providing traders with the flexibility to trade on the go. Understanding that the crypto market now attracts a broader range of traders, we prioritize user-centricity, as highlighted by our simplified onboarding process and intuitive navigation.

    Regarding trading capabilities, Flipster offers impressive leverage of up to 100X and provides a diverse selection of over 200 cryptocurrencies. The ‘Instant Flip' feature allows traders to swiftly reverse positions, adapting quickly to market changes.

    CT: What trends are you observing in the crypto derivatives market, and how is Flipster positioning itself in this landscape?

    BR: The crypto derivatives market has seen significant growth in recent years, now representing about 70% of the entire crypto space. This dominance is expected to continue, especially as the spot market’s liquidity faces challenges.

    Types of derivatives in crypto

    Recognizing the complex nature of derivatives trading, Flipster is committed to making this segment of the market more accessible and efficient for all types of traders.

    CT: How does Flipster navigate the regulatory landscape, particularly in relation to crypto derivatives trading?

    BR: Regulatory compliance is a cornerstone at Flipster. We implement robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, requiring identity verification for all traders. Our approach combines in-house legal expertise with external counsel across different regions.

    CT: Could you elaborate on the importance of user experience, especially within the context of mobile apps and simplicity? How is Flipster addressing this need?

    BR: For new users, the often complex and intimidating user interfaces of traditional crypto exchanges can be a major barrier to entry. To address this, we have prioritized an intuitive design with a smooth and simple trading interface and a streamlined onboarding process that provides clear navigation and guidance.

    Experienced traders, on the other hand, prioritize speed, flexibility and accessibility. Flipster is designed with mobile users as the primary focus, enabling them to engage in seamless and rapid trading on the go.

    CT: The crypto space has endured one of the most challenging bear markets over the last year. How did Flipster navigate through 2023?

    BR: Flipster regularly introduced new perpetual futures listings, expanding our portfolio to include over 200 different perpetual futures. By listing faster than more established competitors, like Binance, we gave our traders a unique competitive advantage.

    We maintained high engagement and offered our community various rewards through frequent promotions, launching over 30 and paying out over $3 million in prizes over the last two quarters.

    CT: You have an interesting campaign called “The Dragon’s Treasure.” Could you explain how it works and the mindset and goal behind this effort?

    BR: By seamlessly integrating gamification and immersive storytelling elements, we aim to elevate the traditional trading environment to an enjoyable activity that deeply resonates with traders. The Dragon’s Treasure targets young traders by merging fintech with pop culture elements. This campaign is part of Flipster’s creative marketing strategy, which aims to grab user attention from broader entertainment options.

    The Dragon’s Treasure campaign is divided into six chapters. Source: Flipster

    The Dragon’s Treasure campaign is divided into six chapters. Source: Flipster

    Each chapter of The Dragon’s Treasure introduces traders to a new tournament, character and world. Different rewards amplify the excitement and foster a competitive environment among traders.

    CT: Now that we’re seeing the market pulling itself together, what do you have in store for crypto traders? Could you talk about Flipster’s plans for 2024?

    BR: We would love to see Flipster achieving well over 1 million users in 2024. We plan to continue our narrative-driven campaigns and enhance our branding to stand out in the competitive market. We will expand our team with top talent and launch web trading for desktop users.

    We aim to improve the user interface and introduce more trading tools. Our focus will also be on diversifying asset offerings and expanding into new markets. Strategic partnerships will play a pivotal role in our growth strategy, alongside strengthening community engagement.

    Learn more about Flipster

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