“Decentralization is the essence of crypto and is the fundamental basis of how it solves many tradfi [traditional finance] issues. However, the inevitable trade-off is that it leads to a burdensome user experience, which only increases as you further diversify your crypto holdings, such as using more platforms, exchanges, or wallets,” says Sean Kim, CEO and founder of GROW, a mobile app that allows users to earn crypto rewards. Most crypto users, including GROW customers, use multiple platforms and services for their crypto asset management needs, which results in the burdensome user experience whereby tracking all crypto assets can become a manual and tedious task.
To make crypto asset management easier for everyone, GROW has a feature within its app called MyCrypto that allows users to see their crypto assets on other platforms or exchanges, conveniently aggregated in the GROW app. It is currently read-only, so there is no risk of any sort of unintended transaction occurring while enjoying the convenience of seeing more of your crypto assets in one user interface.
This week, GROW has connected bitFlyer, as the latest edition to MyCrypto. “We like how MyCrypto is a feature that can grow with our community and user base. We started with Binance and Coinbase since those two were the most representative of our user base’s needs. As we expand and the community of our user base grows, we can continue to add more [exchanges, platforms, or wallets] that are useful to our users to MyCrypto,” says Sean Kim.
Currently, MyCrypto helps with aggregating data so that users can see more of their assets, but the company plans to expand the capabilities in the future so that users can actively manage assets on other services, such as transferring those assets. Sean Kim says, “This phase is what we call OpenCrypto, and this is what we envision as the best of both worlds from a decentralized, somewhat fragmented array of services and a centralized point of management for everyday users.”