The cryptocurrency market is booming. Thousand crypto and Web3 startups were established over the past decade to enter the market. Why are some crypto startups more successful than others?
Research shows that 21% of crypto traders see the inconvenient user interface as the most significant problem, and only 9% are satisfied with the crypto trading platforms. This implies that UX design and research in Web3 play a critical role in making a crypto product successful.
UX Research in Web3
UX research helps a product development team understand crypto users’ persona and mental models. For instance, are your crypto users active investors, NFT creators, or travelers looking for a convenient way to transfer money overseas? Are they facing any technical or institutional barriers in trading cryptocurrency?
Understanding all these questions through UX research will allow designers to create a product that enables users to complete tasks and goals smoothly. Meanwhile, conducting UX research on competitors and the market help you understand better the advantage and disadvantage of your products and refrain from spending efforts on something that the users do not demand.
UX Design in Web3
One of the most common usability issues in crypto products is around the UI and navigation. Users may feel very clumsy navigating your app and finding the right button and information if your crypto app needs to be properly designed and tested. A professional Web3 design agency will always ensure the design of the navigation menu, transaction sections, buttons, and price charts be clear, easy to use, and consistent across a crypto app.
Good Crypto UX Design also enables a fast and smooth onboarding journey for new users. The onboarding steps of a crypto wallet can be as simple as asking the user to establish their wallet and seed phrase only, but it is simply not enough for crypto investors without solid experience. Therefore, a product manager should share some beginner guides and tips with the users so that they understand all the trading processes, fees, and tips before their crypto investment begins.
All in all, when creating a crypto application, the product team must recognize that a good user experience makes users feel secure transacting and storing their assets, which will eventually determine whether they become active and loyal users of your crypto products.