Web3 startup Venga has reached a key milestone on its mission to bring web3 and decentralized finance to the masses with the launch of its super-simple, consumer-friendly, all-in-one crypto app. It’s available to download now from the App Store on iOS.
The company explains how it has managed to integrate an advanced crypto experience inside an intuitive, easy-to-use application that everybody will feel right at home in. It combines a smooth, simplified onboarding process with seamless navigation, enabling even the most technically-challenged users to get to grips with the often confusing world of cryptocurrencies.
The word “Venga” means “come on” or “let’s go” in Spanish, and it’s an apt name for an application that intends to onboard millions of new people into the realm of digital assets for the first time.
Based in Barcelona, Spain, the Venga team explains that it’s looking to simplify the notoriously complicated crypto onboarding experience, so as to encourage more people to look into the opportunities of DeFi and the wider Web3 universe.
As anyone with any knowledge of crypto will be aware, the complexity of crypto is a big challenge for newcomers. While the more technologically sophisticated may sneer at the ignorance of others, the fact is that tasks like buying crypto for the first time, setting up a digital wallet and securing it can be extremely daunting and confusing. So much so that many people simply give up.
It is a crying shame, because there are countless new innovations being made in the crypto industry every year, yet the vast majority of people don’t know they exist. While most consumers are aware of Bitcoin, they have no clue about exciting new developments on the Bitcoin blockchain, such as the Lightning Network, Ordinals, BRC-20 and Bitcoin-native DeFi.
Therefore, Venga’s team has taken it upon themselves to do something about it, and present the crypto world in a different, consumer-friendly light. Its ultimate goal is to help grow the adoption of crypto and encourage more people to explore what Web3 has to offer. Maybe to become Europe’s leading crypto app.
Ambitious, perhaps, but Venga appears to have gotten off to a good start. The app itself is far from complete, but already it makes it easy for anyone to buy and sell, transfer and “hodl” cryptocurrency. Users can sign up with a simple email address, without worrying about writing down or saving a seed phrase, and then they can buy their first crypto tokens using familiar payment methods such as their bank account, Apple Pay or a credit card.
In future, the app will become far more functional, with integrated DeFi capabilities such as staking and yield farming. Venga also has plans to build its own crypto exchange inside the app, and even a decentralized marketplace for real-world assets or RWAs.
The real promise, though, is not so much the planned capabilities, but rather the user interface, which will make all of these features so simple to interact with that everyone will feel comfortable doing it. In that way, it’s opening up an entirely new financial world for users, in which everyone has multiple opportunities to invest.
Venga is led by its Chief Executive Michael Stroev, who explains that poor technology and sub-optimal user experiences have held the crypto industry back for far too long. “Venga aims to fix all of these issues by placing the tools for decentralized finance in the hands of everyday users and providing the knowledge necessary to discover, invest, and navigate the digital economy,” he said.
Encouragingly, the startup has an experienced team that’s well qualified to fulfill this mission. Stroev himself previously served as the Chief Operating Officer and Head of Product at the crypto lending app Nebeus, while its Chief Information Officer Mikhael Soschin formerly worked at Infinitec, and its Chief Compliance Officer Ana Carolina formerly led compliance at Blockchain Solutions Ltd.
There’s a strong focus on compliance too, with Venga having already registered itself as a Virtual Asset Service Provider in both Poland and Spain. In addition, it plans to educate users on blockchain topics through its informative blog. This is important because it means users will know they have certain legal protections, increasing their confidence in the Venga app.
Looking to the future, Venga first wants to build up a strong user base, and sometime next year it hopes to launch its own, native cryptocurrency token. They are doing this in their own time because, unlike so many other crypto projects, it wants to ensure it can provide real value to investors.
“We do not want to launch a token just for the sake of launching a token, so we are taking our time to build something impactful,” Stroev explained.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
