Ever since blockchain technology came to the scene, it has been quite disruptive in many industries. This is because of the alluring nature of decentralized currency that’s not tied down to any particular government. However, it has not all been sunshine and roses. Because of the more technical aspects of cryptocurrencies, many people and industries have been slow to adopt them. Regular people like using simple things. Due to the technical side of many of the digital assets available on the market today, most normal people use fiat cash to avoid complexity.
Complex vs. simple currency
Man’s nature is often to find the simplest and most efficient way to do things. This principle has led mankind to create a whole lot of inventions to this end in particular. In an office setting, people prefer ergonomic furniture so that working is not only pleasant but also flows effortlessly. In our case with crypto, people want something that doesn’t fluctuate in value as much and as simple as possible. Although fiat currencies have done well, their purchasing power has continually fallen as central banks worldwide are sleek to regulate how much of the dollar is in the world at any given moment. As such, since 1913, the version of the U.S dollar in circulation has lost about 97% of its value, which isn’t ideal.
Cryptocurrency and user experience
For any product to become a success, it needs to be simple to use. This is also true when it comes to cryptocurrencies. Although many digital currencies have seen success, they could certainly do better. As technology continues to improve, so does the user’s expectations for any app they constantly interact with. Interfaces by applications such as Spotify, Amazon, Netflix, and the likes have made users realize that developers can do more when it comes to making the interfaces much better.
Although cryptocurrencies were created to be used by a group of people with a bit of a technical understanding of the technology behind it, we have seen that exchanges with the best user interfaces and general experience have grown tremendously and made millions for their users. This is why:
Users are expecting the same if not a better user experience
Unlike the beginning of mobile banking, when the interface was ugly and uninviting, the industry has really been hard at work refining their interfaces. On the computer, smartphone, or tablet, banking today is much smoother and enjoyable than it was a few years back. They have developed applications that are attractive to the eye and smooth and easy to use. Because of that, the adoption of mobile banking is at an all-time high. In fact, most people don’t have to go to the bank anymore to get their business done. The same applies to cryptocurrencies. People expect that crypto solutions are simple, fast, and secure, just as conventional banking is.
Just as it takes people about 30 seconds to make a good impression on someone, so does it take for someone to create a positive or negative impression about a particular platform. Normally, when you meet someone who looks good and handles themselves like a professional, you’ll also deal with them with the same pedigree. However, if that person doesn’t take the matter with the seriousness it deserves, they are likely to be left out in the cold. Creating cryptocurrencies with proper user interfaces goes a long way in establishing the credibility that you are a serious contender. What’s more, it’s going to be more inviting, therefore encouraging people to use it more often and consequently spend more time and resources on it.
Any brilliant UX has the end-user in mind. When applied to an exchange, this should translate into going beyond the norm to make a trader’s life easier than it has been. This means that the best features should help guide the trader to make better choices for a more profitable day. A proper user experience makes complex and repetitive tasks seem simple and fluid.