Security as a top priority, ease of use, and community-centric approach – this is what LetsExchange is about: LetsExchange & Ontology AMA recap

How does LetsExchange ensure the top security level and ease of use of all its solutions? What role does the community play in the platform’s development? Maxim, CMO at LetsExchange, explains these and other details in an exclusive AMA session hosted by Ontology on X spaces.

Here are the takeaways from this epic AMA session.

Clare, Head of Growth at Ontology: Let's give an introduction to LetsExchange. What is the story behind it, and how did it all start?  

Maxim, LetsExchange CMO: LetsExchange is a cryptocurrency exchange platform that supports over 5,000 assets. Available in 14 languages, it was designed to simplify the crypto trading experience by offering a user-friendly interface that eliminates the hassle of searching for reliable exchanges. The platform prioritizes decentralization while ensuring strong security and regulatory compliance.

What sets LetsExchange apart is its extensive feature set, including crypto-to-crypto swaps, cross-chain swaps (a bridge), on-ramp and off-ramp services, and DEX. It offers a seamless exchange process and provides 24/7 customer support to assist users at any time. For beginners, an FAQ section is available to explain key concepts. Ultimately, LetsExchange aims to provide users with a worldwide fast, convenient, and secure crypto trading experience.

Clare: I know we are coming into April, but let's look at a roadmap or any significant updates or milestones you guys are excited to share.

Maxim: LetsExchange has successfully implemented key features from its roadmap, including a bridge functionality that enables cross-chain swaps for over 200 assets across major blockchains like Tron, Ethereum, and BNB. Additionally, the platform underwent a comprehensive localization process, translating its interface, FAQs, and assets into 14 languages to enhance global crypto adoption and improve user experience.

Looking ahead, LetsExchange is developing a mobile application to align with the growing demand for mobile trading solutions. Another major update is an enhanced personal account, which will introduce new features and earning opportunities for users. These developments aim to keep the platform competitive and user-centric in an evolving digital economy.

Clare: I mentioned the Ontology campaign with LetsExchange earlier, but could you share more information on how people can get involved? That would be great.

Maxim: About a year ago, we had the pleasure of welcoming Ontology into our family of partners. To celebrate this milestone and mark LetsExchange's fourth birthday, we’ve partnered with Ontology to host an epic giveaway for the community.

As part of the celebration, 20 lucky winners will receive prizes. Ten winners will each receive 50 USDT in ONT, while another ten will win five exclusive NFTs from the Ontology Collaborate NFT collection. It’s our way of sharing the excitement and giving back to the community.

Clare: Are there any exciting features you haven't mentioned yet, something users might not be aware of but should know about?

Maxim: There are several great features that users might not be fully aware of, starting with our promo codes. We regularly share these through our social media channels and those of our partners, allowing users to earn cashback on each swap. Keeping an eye on these updates could mean snagging multiple promo codes for extra benefits.

Another key feature is our affiliate program, which is available to all users through their accounts. It offers an easy way to generate additional income by referring LetsExchange to friends or communities. Setting it up is simple, and we provide extensive guides and FAQs for anyone who needs help.

For the more tech-savvy members of our community, we’ve been running a bug bounty program in partnership with HackenProof since 2023. Users who identify and report platform vulnerabilities can receive rewards for their security contributions.

Finally, we offer a widget feature for those with web space connections. This widget, available through personal accounts, can be easily integrated into websites and provides the full functionality of LetsExchange while also offering earning opportunities. Feel free to reach out if you're interested, and our team will assist with setup.

Clare: Let’s dive into the token-swapping process. I’m sure people would love to learn more about how you maintain such impressive speed and security on your platform.

Maxim: The answer to this is relatively straightforward. Our speed comes from automated processes and integrating over 20 liquidity providers, ensuring optimal rates.

When it comes to security, we take a comprehensive approach. First, we do not store users' funds during exchanges, eliminating the theft risk. Second, all assets involved in transfers undergo AML checks through our trusted compliance partner, ensuring that users and our platform deal only with funds of legal origin. Given today’s regulatory landscape, this is essential.

As mentioned earlier, we collaborate with HackenProof to regularly test and validate our infrastructure against potential cyber threats. Finally, we enforce strict privacy and security policies to protect our users and their assets on multiple levels.

We take security very seriously, especially considering the challenges users have faced in the crypto and Web3 space. We are committed to providing a safe and seamless experience, focusing significant resources on both security and transfer speed.

Clare: Let’s take a moment to discuss the LetsExchange community. Could you share some insights into your community and its role in driving its growth and success?

Maxim: Our community is at the heart of everything we do, driving us forward and shaping the future of LetsExchange. We actively listen, engage, and gather feedback to ensure our platform is user-friendly and aligned with our users' needs. Their insights help us refine our features and define our direction, while their support is crucial in spreading the word about our platform.

Our commitment to a simple and intuitive user experience stems from our appreciation for our community. We strive to provide the best possible experience compared to other exchanges. As a little teaser, while I can't share full details yet, we have several new developments in the roadmap specifically focused on our community. By the end of the year, we’ll be introducing new features designed to enhance their experience, so stay tuned.

These are just the main highlights of the AMA session. To learn more about X, listen to the full AMA.