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The State of Customer Support in Crypto Today

Feb 8, 2021

The crypto industry is fairly unique. Having been invented, developed, nurtured, and expanded entirely by small and enthusiastic communities, it’s a great example of the power of collaboration and belief. And as trading volumes on exchanges and interest in cryptocurrencies have exploded, many in the sector have been exposed to new challenges at a frankly astonishing frequency. One of them has been delivering a consistently positive customer experience. It’s an area not many have truly excelled at. Communication with customers has become a prime point of focus, now more than ever with the global digitalization trend.

Many crypto brands and products are yet to fully grasp the long term advantages of ensuring a great customer support experience. At Vauld, we’re happy to be pioneers in this space.

What is Vauld?

Vauld is a crypto platform that allows you to lend, borrow, and trade your crypto assets. We provide the perfect parallel of the banking system for your crypto and fiat currencies. With Vauld, you can deposit your crypto on a highly secure platform, use it for trading, and even generate yield on it - as high as 11.57% APY. You can view supported cryptocurrencies in Vauld along with their interest rates here.

How does Support at Vauld Work?

Perhaps one of the biggest letdowns for customers seeking support on crypto exchanges is the long response times. Often, exchanges are entirely digital businesses, and thus some even set up chatbots to deal with customer complaints. The intent, of course, is to make processes faster for users. But chatbots can often cause more problems than they’re trying to solve.

Many users using various other crypto platforms have talked about their experiences where they have waited for a number of days, perhaps even weeks, only to get disappointed with the customer service they receive. This isn’t an issue that users come across when they have queries regarding trades, but is something they face even during the onboarding process. The long response time issue, which is already dissatisfactory, is worsened by poor and unclear responses. User queries when they interact with chatbots usually receive pre-determined answers designed to pacify the customers but they don’t always help.

Tackling this particular problem has been a priority at Vauld and we have taken the necessary measures to make the customer experience positive.

We have built a comprehensive, easy-to-use Help Center. We constantly strive to clear any confusion that our customers face and do everything in our power to keep them satisfied and happy. To address the problem of long response times, we’ve prepared an exhaustive list of FAQs on our website, which covers almost all common queries that users might have. We have also taken the time to carefully sort them into categories which makes the whole process of customer service quicker and easier. These include:

  • Yield / Earning Interest
  • Withdrawals and Deposits
  • Trading
  • Other products
  • Vauld - the company and the platform

If you don’t find a particular query on the FAQ list, you can always resort to chatting with us online. We are known to respond to our customers in 5 minutes or under, as we are constantly on the lookout to come to our users’ aid.

Why Us?

Vauld provides a beginner-friendly user interface and a seamless experience to trade, manage, transfer, and pay crypto your assets. We have partnered with BitGo to enhance the security of our customer deposits, while our integration of Binance APIs enables a fast, and reliable trading experience.

We provide borrowing options at competitive rates - as low as 8% for Bitcoin and Ethereum, and 4% on BAT. You also get a high-interest rate on your fixed deposits and if you opt-out of the FD, you receive fixed savings interest rates for the duration of the deposit.

We have insured our lending pool for $100 million against potential threats to protect you against any risks. With these measures in place, we provide the most secure cryptocurrency experiences to our customers. At  Vauld, we care for your assets like our own, and customer delight is of utmost priority to us.

Need more help? Join us on our Telegram channel, our founding team is constantly available to answer all your queries :)

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