Retail Users

The primary challenges faced by retail users in the DeFi space revolve around:

• On/Off-Ramps: The process of moving fiat currency in and out of the DeFi ecosystem is often cumbersome, involving various steps, protocols, and sometimes reliance on Centralized Exchanges (CEXs). New users, in particular, find this process daunting.

• Blockchain Bridging: Bridging assets between different blockchains can be complex and time-consuming, creating friction in accessing assets on different chains for trading.

• Non-Custodial Wallets: Many users feel apprehensive about using non-custodial wallets due to concerns about security and complexity.

• UI/UX Issues: DeFi platforms often suffer from user interface and user experience problems, which can make navigating and using these platforms challenging.

• Timidness Towards DeFi Concepts: Retail users may feel uncertain or hesitant about DeFi concepts and practices.

These issues typically result in a convoluted process when attempting to convert fiat currency from a bank account into tradable assets on a DEX, often involving tutorials and anxiously following multiple steps. For most users, the perceived hassle and pressure make using a centralized third party seem like a more preferable option.

TurboDEX addresses these challenges by introducing efficient on and off-ramp solutions that enable users to deposit funds with a credit card, making cryptocurrencies immediately available for trading. Withdrawals are similarly streamlined, with fiat currency arriving in the user's bank account within a few days. The TurboDEX user interface simplifies this process by providing a seamless experience without the need to navigate through various protocols.

Additionally, TurboDEX tackles the intimidating nature of non-custodial wallets by integrating single sign-up options (SSO) commonly found in Web2. Users can create an account and wallet using their email or social media accounts while keeping their private keys confidential, preserving the self-custodial principles of DeFi while offering the convenience of Web2 to newcomers.