“Not your keys, not your crypto” is a well-known message that urges people to maintain full control, including with self-custody, whether through cold storage or a hot wallet. However, self-custody is not without risk. Take this ubiquitous story in the crypto space: a user received free tokens in an airdrop and interacted with them, but a malicious contract was concealed in the transaction. When they clicked ‘approve,’ the scammers received full access to their funds. All their assets were drained in minutes, and with neither support nor a help desk, everything disappeared for good.
Self-custody puts all the responsibility on the user. Yes, they have control, but they can lose all the funds in their wallet with a single wrong click.
Frustration, disappointment, and stress are just some consequences
The above is an extreme example, but one can’t argue that inadequate customer support is frustrating at best. Common issues such as login problems or stuck transfers can lead to disillusionment if not addressed promptly. Even customers of leading exchanges (and maybe especially) can struggle with subpar support experiences. Research by On-Demand Trading (ODT), a concierge over-the-counter crypto trading desk, reveals these and other consequences of insufficient investment in support.
Leading exchanges like Coinbase Prime do not offer live support, and HTX users have been locked out of their accounts due to 2FA issues. As ODT recognizes, customers deserve better regardless of whether they trade $500 or $5 million, yet many exchanges choose bots instead of human support. While helpful for straightforward issues, bots fail with more complex cases. The user is looped through bot replies, and the ensuing frustration translates into financial stress, not to mention how dangerous a lack of human support can be in high-stakes trading.
How are leading exchanges getting away with poor support?
Crypto markets operate 24/7, making high-quality support essential. Yet leading platforms may be getting away with poor or no support due to the sheer lack of competition in the market. An exchange the size of Coinbase doesn’t need to worry about a disappointed customer taking their business elsewhere because they have a few people opening an account for every one leaving the exchange. Smaller-scale platforms will only consider the issue after enough customers leave to put their growth metrics in the red.
What’s more, companies like Coinbase have overcome “regulatory capture” - massive regulatory hurdles - to get where they are, including FINCEN and SEC, KYC/AML regulations, money transmitter licenses in all US states, and different compliance requirements in other countries. Steep regulatory hurdles ensure fewer players can enter the market and compete with established platforms.
While one can’t argue that many customers are to blame for common issues like not having read the terms and conditions or not being familiar with payment processing timelines, it’s difficult to justify having no chat service or phone number to call when a problem arises. Some trading platforms take days to reply by email. Once broken, trust and confidence aren’t easily restored.
Alternative practices and approaches
ODT not only offers human support but also assigns each client a dedicated account manager who understands their portfolio needs and concerns. Its US-based account managers provide guidance through signup, onboarding, and KYC processes, wire transfer assistance, and enhanced security for large transactions. ODT has saved many clients’ life savings and blocked scammers from receiving over $10,000,000. The trading desk handles transactions ranging from $500 to over $1 million and guarantees same-day settlement. It’s licensed, registered, and complies with US state and federal law, ensuring peace of mind.
Other platforms outsource their support to crypto call centers, which can help build trust and accountability and encourage users to make larger investments. A multilingual hotline that operates around the clock, like the crypto market itself, can make a convincing difference in user experience. Well-trained, competent support staff can address significant issues, such as transfers to a fraudulent wallet or platform, before they escalate. For example, the customer transfers funds from their bank account to the scammer’s bank, wallet, or platform and then files a complaint against their bank for not doing enough to prevent the scam.
Another complaint the US Department of Financial Protection and Innovation commonly receives is when a customer makes a profit off a crypto investment, is asked to invest more, and is unable to withdraw the funds. The scammers abandon the fraudulent site and make off with the money.
The case against human support
The main and perhaps only argument against human support is the cost, which users cover in higher fees. Businesses worldwide are dealing with inflation, rising labor costs, and talent shortages. Apart from a salary, each new hire brings a list of hidden expenses. In 2025, the estimated cost per hire in customer supportis $3,000 – $6,000, driven by shorter onboarding, lower sourcing complexity, and high-volume hiring.
However, a 2025 survey published by Kraken shows that 79% of crypto exchange users would rather pay a trusted platform higher fees than save money with a platform they don’t trust. Trustworthiness is the top factor for over a quarter of users when choosing a trading partner, followed by fees at 16%. Evidently, safety concerns override cost considerations.
The issue is complex, but the benefits of human support ultimately outweigh the disadvantages. Customer loyalty is a function of trust in the platform, and it’s far easier to retain an existing client than find a new one. Boutique exchanges and trading desks cannot and should not compete with the giants. Instead, they can offer a viable alternative, as well-trained, competent human support teams give users a reason to choose them over large, indifferent exchanges.
