The global cryptocurrency market will reach a total value of USD 32,420 billion by 2027. However, according to Statista, users are dissatisfied with their crypto exchange because of the inconvenient user interface, security, and lack of customer support. Only 9% of users found their crypto trading platform has no major issues.
In the world of blockchain, good UX speaks louder than words. It helps crypto platforms to build trustworthy images and improve user adoption. The poor UX in crypto products simply doesn’t serve the needs of the market.
Common UX/UI Problems of Crypto App
MetaMask is one of the most popular crypto wallets that allow users to store and swap cryptocurrencies and has enabled millions of people to access the Web 3 ecosystem. However, its user experience is still far from perfect. UXBoost, a prominent Web3 UX design agency , has recently conducted a UX audit of MetaMask and found numerous usability issues. Here are some examples:
- Onboarding process: The onboarding journey stopped after asking users to set up the wallet and back up the seed phrase. For novice crypto investors, more educational components are necessary to ensure a smooth onboarding experience.
- Fuzzy gas fee requirement: Metamask requires ETH as gas fees, but this requirement is unclear for many new users. It may cause confusion and discourage users from completing a transaction.
- Lack of instructions to Connect to Web3:Manyusers use Metamask to connect to Web3 sites, but they may have to leave the Metamask app to look for online guidelines because of the lack of instruction in the app.
Some crypto apps even fail to inform users about critical security and privacy issues, which may cause potential risks to users, discouraging them from being converted into active and loyal users of a crypto platform.
Use User Research to Find Solutions and Drive User Adoption
Many potential consumer needs can be flawlessly fulfilled by deploying good UX design in crypto apps. But should crypto startups start with?
UX Designers should assume that users spend most of their time on other traditional banking websites and apps, and that’s how they are familiar with standard design patterns. Learning users’ behaviours and mental models is essential for you to design a crypto product they love. Otherwise, it’s unlikely you can attract additional customers beyond the early adopters.
Through in-depth user research, you will understand the user behaviours, persona and mental models. What are the goals of using a crypto app? And what are the challenges when trading on the platform? In addition, you will have to conduct market and competitive research to better understand a product’s demand and its strength and weakness.
Although cryptocurrency has been increasingly popular over the past decade, it is still alien to many traditional bank customers. People need a sense of security to realize that their asset is safe when stored in a crypto platform. Good UX design in crypto products will help startups efficiently communicate with users and gain user loyalty.