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0 minsPublished on 10/19/2021

Why UX matters in crypto

When it comes to mass crypto adoption, UX matters. Here's why it's so important for businesses to get it right.

By Leah Barrier

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Whether you're trying to find a film on a new streaming service or communicating with colleagues on the latest chat platform, a great user experience can be the difference between remaining a loyal user or looking elsewhere.

In general, products and services that are simple, intuitive, and easy to use are more successful than those that are not. And yet in crypto, user experience doesn't always seem to be a priority (see our previous article on improving conversions).

Now that we’re a decade into the development of crypto and blockchain technology, it's no longer enough for user experience to be an afterthought. For mainstream adoption to occur, businesses must build a future in which users from all walks of life can join in and engage in the crypto economy.

Moving beyond crypto native

Those who are "crypto native" often have a significant advantage in keeping up with the fast-paced innovation of the space. And yet, even for something as simple as downloading a wallet, there are often more than a dozen steps involved, making it difficult for many to get started.

According to PureStake CEO, Derek Yoo, the cryptocurrency industry naturally appeals to people with backgrounds in economics and software engineering, resulting in a “heavy weighting” of teams with these backgrounds. “This relative underrepresentation of people with design and UX backgrounds in crypto is one reason for end-user adoption challenges in the space," Yoo writes.

Yoo believes that while users can ultimately overcome friction, having an easy process with clear steps goes a long way.

The challenges around UX in crypto can be the result of many factors, including:

  • Low findability or discovery

  • Complex registration processes

  • Poor mobile design

  • Menu overload

  • Inconsistent brand representation

And yet, even some of the most innovative crypto businesses overlook these factors and seem to assume all their users have been active in the space for over a decade.

This is inadvertently doing more damage to the industry than may be apparent at first blush, since ease and accessibility have a direct impact on scams and fraudulent activity. The more difficult it is to access crypto, the more opportunities there are for scammers to step in.

Taking UX seriously

Understanding the many touchpoints of user experience is critical for crypto to continue to grow

The immediate perception a customer has about your product is a direct result of their engagement with your systems. Fortunately, this particular journey can be controlled through UX design.

At MoonPay, for example, we wanted to know where we could make the most impact for our customers and discovered that improving our KYC flow was the best place to start. Our findings were incredible.

Making changes to MoonPay's KYC process dramatically improved our users' experience

Take one area of your product or service, and go through it with a fine tooth comb. What can you improve? What's not clear?

From your onboarding to the educational emails your users receive, every interaction with your product, service, and brand adds up. Talk to your users. Run tests. Do everything you can to discover which areas you can continue to improve. Whether you're building a cryptocurrency exchange, working on a mobile wallet, or bringing new users to crypto through NFTs, going the extra mile can make a big difference.

Crypto just got easier

MoonPay’s ongoing commitment to building the best-in-class user experience for our products helps us stay at the forefront of innovation within crypto.

We realize you want to implement best practices when it comes to designing a buyer’s journey. Our team has the resources, metrics, and expertise to finetune UX for anyone wanting to transact on your site or onboard as a new customer.

Partner with MoonPay today and start making user experience synonymous with crypto.

Contact a member of our sales team to learn more about how we can help you.

Leah Barrier
Written byLeah Barrier

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