Cryptocurrency is often said to be truly “borderless” because it allows money to be moved anywhere in the world in seconds with virtually no fees. What’s more, crypto’s decentralized nature means it’s accessible to people all over the globe, so long as they have the ability to use a smartphone and download a crypto wallet.
Yet for crypto to be truly borderless, wallet and dApp developers need to understand that there’s a language barrier as well as a geographic one. People speak different languages, and while English is especially widely-spoken, there are billions all over the world that don’t even understand a single word of it. For them, a localized experience is essential for using crypto.
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By localizing crypto applications, developers can help to spread Bitcoin, Ethereum and other digital assets far and wide by providing more clarity for those users who’re wary of investing their money in the unknown.
Why Does Crypto Need Localization?
Localization isn’t just something that’s nice to have. These days, it’s essential to speak to users in their own language to help them navigate the complexities of the blockchain world.
The world’s biggest crypto exchanges already seem to understand this. Platforms such as Binance, Kraken and Coinbase have embraced localization and are accessible in multiple languages, helping to spread the popularity of crypto across the world, and increasingly, crypto wallets and dApps are doing the same.
Here’s a few reasons why localization is so important in crypto:
1. Become Truly Borderless
Crypto is borderless by nature, but without localization it may not feel that way to many people. By speaking to users in their own language, developers will give them the confidence they need to buy, sell, trade and invest digital assets, helping to grow the crypto economy.
This was one of the reasons cited by the crypto app Venga, which recently launched new versions of its platform in Spanish and Catalan. The second one is especially notable, as it marks the first instance of a tier-one crypto app being available in Spain’s second most widely-spoken language.
With its move, Venga is making it simpler for millions of native Catalan speakers to understand the services it offers, including a crypto exchange and various earn products that allows users to “stake” cryptocurrencies and earn interest on their holdings.
2. Help Users Understand Blockchain
The blockchain that underlines every cryptocurrency is a very complicated technology, yet it’s one that people need to understand if they’re going to become more confident and engage in the wider DeFi economy, for example.
While there are more than ten million people who speak Catalan, the crypto world has largely overlooked this segment of Spain’s population. So while there are plenty of educational materials in Spanish, there’s very little in that segment’s first and primary language.
By helping Catalan speakers better understand blockchain, Venga hopes to onboard many more of them into the blockchain ecosystem, enticing them with an authentic Catalan identity and “hyper-localized features” that they won’t find in any other app.
3. Enhance User Experiences
If an app isn’t in the user’s first language, they might be wary of making an expensive mistake, and so it stands to reason that a lot of non-native speakers might avoid putting too much money into crypto due to this.
By redesigning its interface, including all of its menu options and action buttons, in Catalan, Venga ensures that its Catalan-speaking users are much less likely to make mistakes. On the contrary, it will give them greater confidence to explore the different capabilities within the Venga app, which may have been ignored if the user had to resort to navigating through it in Spanish or English.
“As a Catalan myself, I’m very proud of finally providing a top crypto app in our language, so we can navigate crypto in the same language we use with our children and loved ones,” said Venga CTO Raul Arribas. “By offering a localised app that supports Spain’s leading languages, we’re empowering users to explore crypto with confidence in their own native language.”
4. Grow Crypto’s Adoption
The addition of Catalan will also help Venga to fulfill its broader mission of growing and scaling crypto adoption by making it more accessible and easier to understand.
Venga was founded to try and tackle some of the primary pain points experienced by new crypto users. It points out that traditional banks and financial services providers often look at crypto users with a certain amount of suspicion, and can sometimes even raise their risk profile because of these, making it more difficult to access essential services.
That’s why Venga makes an effort to treat its users as clients instead of threats, and speaking to them in their own language is a big part of that. It means it can provide better customer support, reassuring them that they’ll always be able to access help or assistance if they need it.
5. Stay Compliant With Local Regulations
By localizing Venga for the Catalan and Spanish markets, Venga ensures it is fully compliant with Spain’s unique financial services industry regulations. To adhere to these rules, it needs to spell out all of the terms and conditions and other fine print in its users’ local language, and it now does this.
Compliance is essential for Venga as it looks to expand the scope of its offerings and further integrate with traditional finance in the future. For instance, it said the launch will enable it to collaborate with local companies and organizations in the future, expanding access to Web3 services while educating users on blockchain technology.
Growth On A Global Scale
Better localization is essential for crypto’s future growth. Individual crypto wallets, exchanges, and DeFi apps all stand to gain from localizing their apps and content, as doing so will make them more accessible to newer markets.
As crypto apps become easy to access, this will pave the way for greater numbers of people in the world to understand blockchain concepts and the opportunities to be had with digital assets, helping to accelerate crypto’s growth on a global scale.
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People Also Ask:
Crypto localization means adapting cryptocurrency apps, wallets, and platforms to different languages and cultures, so users can easily understand and trust them.
In many countries, apps must provide terms, conditions, and compliance documents in local languages to meet financial regulations and build trust.
Exchanges, wallets, DeFi platforms, and blockchain education services gain the most by making their apps accessible to diverse, non-English-speaking markets.
