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Now Avalanche C-Chain is as User Friendly as Other DeFi Ecosystem
In the past accessing decentralized finance (DeFi) in Avalanche C-Chain was very complicated for inexperienced users. First, there are no direct withdrawals to Avalanche (AVAX) C-Chain. Second, the wallet that was directed by most website was a web wallet which feels insecure because we must input our pass phrase or private keys every few minutes if we are idle. Third, the first time I was confused to which chain I need to cross to because there was C-Chain and X-Chain. Fourth, inexperienced users may not know the next steps which is importing the wallet to Metamask and afterwards add Avalanche C-Chain through custom network. Fifth when we want to transfer to exchanges, we must cross chain again from C-Chain to main chain through the web wallet. Today, the process is no longer that complicated which is just as user friendly as other popular DeFi chains. The level of user friendly here is everything accessible from the smartphone as many people nowadays may not have a personal computer (PC) but have a smartphone.
While literate users mostly use Metamask whether on PC and smartphones, other users only uses simpler mobile application. During the first non-fungible token (NFT) and previous DeFi hype, the most prefered ecosystem is Binance Smart Chain (BSC). Back then I told my friends that I am also into other DeFi chains such as Polygon, Avalanche, and Harmony, but non of them are interested. The reason was because they have to add the network manually where just thinking about it was already complicated for them. There are even others who are too lazy to try Metamask and even today they only stick to BSC.
However this week at the time of writing this article, Trust Wallet supports Avalanche C-Chain. In Trust Wallet, the Avalanche C-Chain network is added automatically where all we need to do is choose the network. Although, it does not support adding custom network like Metamask. What other wallets do you use? Leave a comment below.
Let me repeat that in past we have to cross chain from AVAX C-Chain to Main Chain before we can deposit to exchanges for cashing out / fiat withdrawal to banks and local digital wallet, trading, or enjoy other services. Today, direct C-Chain deposit and withdrawal are beginning to be supported on exchanges. This includes the most popular crypto exchange in the world Binance. In short, the simplified process will encourage more users to try DeFi on Avalanche.
Before Binance that supports AVAX C-Chain was Kucoin which was good enough because Kucoin does not require know your customer (KYC) verification for small withdrawals where users can buy small amount of AVAX C-Chain there to just try Avalanche DeFi ecosystem. Earlier than Kucoin was Gate.io but requires KYC where I was too tired to do back then and decided not to use the exchange. Leave a comment below if you know more exchanges that supports C-Chain direct deposit and withdrawal.
There are now applications or websites that can shows our assets and where they are used in a form of a beautiful portfolio. If I am not wrong, the earliest portfolio tracker for Avalanche is Markr. Later on DeBank and Ape Board also support Avalanche portfolio tracking but they are more to multi chain portfolio tracking while Markr I see is dedicated to Avalanche ecosystem where not only for portfolio tracking but shows status and trending projects on the ecosystem. Before I knew Markr, I only knew 3 projects in Avalanche DeFi, they are Pangolin DEX the first decentralized exchange (DEX) with yield farming on the ecosystem, Snow Ball Finance holds collection of stable coins, and Yeti Swap NFT Market Place. All of them are great applications, use the ones you like best. Leave a comment below if you know any great projects on Avalanche.