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Onboarding process Meaning

The sequence of steps a new user must go through to start using a fintech or crypto product. This typically involves account creation, identity verification (KYC), funding the account (On-Ramp), and education on how to use the wallet or platform.

In crypto, the onboarding process is notoriously difficult ("high friction"). Users have to understand seed phrases, gas fees, and wallet addresses.

A poor onboarding process is the number one cause of "Churn" (users giving up). Modern Web3 companies are focused on "Abstraction"-hiding the complexity.

They use social logins (Gmail connect) and gas-less transactions to make the onboarding process feel like a standard Web2 app. The goal is to onboard the next billion users who don't care about private keys, only about the utility the app provides.

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