According to Aviessa Khoo, executive director at crypto ramp solutions supplier Mercuryo, fiat on- and off-ramps continue to be the largest gateway for introducing Web2 consumers to cryptocurrency, even though their volume has changed.

Khoo said Cointelegraph at the most recent Token2049 event in Dubai that because their on-ramp solutions were sourced from centralised exchanges, there were higher transaction volumes for them between 2017 and 2022.

According to the CEO, their cryptocurrency volumes have recently been redirected to noncustodial wallets, indicating that consumers are purchasing and hoarding their assets.

Though ramp solutions have changed, Khoo still thinks it's a valuable tool for introducing non-crypto natives to the Web3 space. Says she:

"On-ramp remains unquestionably the biggest gateway to onboard Web2 users into Web3, bridging these non-crypto users into Web3. If you talk about fiat on-ramp, the infrastructure is good for non-crypto native people.”

However, Khoo also recognized that crypto-native users may not be as thrilled about using on-ramp solutions because of the higher fees when paying with Visa or Mastercard debit cards. Khoo explained that these users prefer peer-to-peer (P2P) solutions.

“There’s still a lot of crypto native people who will go to P2P or just any other offline, on-ramp solutions, which are cheaper, maybe higher risk,” Khoo added.

When asked what improvements the crypto space should implement to attract more users, the executive shared that user experience is still crucial to adoption. She explained:

“Because I’m from the payment infrastructure side, I think user experience is very important. And this is something that all the product managers that I have been working with are the most concerned on.”

Khoo also shared her interaction with an investor with a Bitcoin wallet from around 2017 who could not remember their password.

“These are like investors, but they are non-crypto natives,” she explained.

“If you ask me how are we able to onboard all these users easily to boost the conversion rate of Web2 users into Web3, I definitely think that UX plays the most important part,” Khoo added.

Apart from Khoo, Chainlink co-founder Sergey Nazarov spoke about user experience at Token2049. Nazarov said that the current user experience in the crypto space is “nowhere near what it needs to be.”

The executive believes that there’s still a lot to be done in that regard and explained that crypto must still improve its usability to achieve mainstream adoption.

In addition to Khoo, Sergey Nazarov, the co-founder of Chainlink, also discussed user experience at Token2049. According to Nazarov, the user experience in the cryptocurrency field is "nowhere near what it needs to be."

The CEO clarified that more work needs to be done in this area and that for cryptocurrency to become widely used, usability needs to be improved.