Just picture the scene – you’ve just started learning about crypto, and you decide that you want to buy your first Bitcoin, so what do you do? You do what Google and every other source tells you and head straight to a crypto exchange, which you’re told is reputable and the easiest and cheapest way to buy it. But what happens next? Instead of a simple, straightforward process, you’re hit with flashing charts, a long list of abbreviations (BTC, BCH, DOGE, SOL, ETH, TRX etc), cryptic wallet addresses and concepts such as “staking”, “bridging”, and “gas”. Overwhelmed and unsure how to proceed, you simply give up. You don’t get the Bitcoin you wanted. This kind of experience is all too common, and it’s not because blockchain failed, but rather, the user experience. It’s a major challenge that’s stalling crypto’s mass adoption. While blockchain technology has incredible promise, the learning curve associated with it acts as a brick wall that few people are willing to try and scale. A good user experience doesn’t just mean having stylish colors and a sleek design. It means ensuring clarity, trust and showing users how to navigate through an alien landscape. In the world of crypto, where a single mistaken click can cost thousands of dollars, user experience cannot be a luxury. It’s essential. Crypto’s UI barrier Blockchain is, by definition, inherently complex. There’s no getting around it, for concepts such as distributed networks, consensus mechanisms, cryptography, gas fees, and wallet addresses are essential to its operation. Yet they throw up numerous hurdles for newcomers, and something as simple as buying your first Bitcoins, sending a payment, interacting with a smart contract, and even paying the gas fee involves a steep learning curve that few are willing to attempt. The challenge for crypto exchange designers is that many seasoned crypto investors are familiar with these technicalities; they know all about decentralised finance, staking, swapping, and liquidity provision, and they want to be able to engage in these activities. There’s good money to be made, after all, yet any exchange that caters exclusively to this crowd risks alienating anyone who’s just finding their feet. If new users are overwhelmed by complicated charts and alien terminology, it’s highly likely that they’re just going to throw in the towel. Or if not, it will slow them down immensely, leaving a sour taste in their mouth. Why UI accelerates adoption By providing a seamless user interface, platforms can make crypto feel much more familiar. If a crypto wallet is able to mimic the look and feel of a typical mobile banking app, with clearly labeled buttons for sending and receiving funds, checking their balance, purchasing crypto and easy onboarding, new users will feel right at home, dramatically easing the onboarding process. By simplifying essential tasks such as setting up and securing a new wallet, sending payments, and so on, crypto apps eliminate the fear many users have of making a costly mistake. A clear and concise user interface can do wonders for engendering greater trust, which is another essential element when trying to onboard new users. It’s key because the crypto industry has long been associated with hacks and scams that can relieve users of their life savings in a matter of seconds. There’s also the very real risk of user error, which is increased by a poorly designed UX. What’s needed is a transparent, clear and friendly UI that warns users of risks, such as malicious smart contracts. Crypto platforms need to confirm user’s actions in plain language in order to build confidence, letting them know what’s at stake with every interaction. When it comes to building crypto platforms, designers will do well to remember that most new users aren’t concerned with ideals around decentralization and they’re not interested in the inner workings of blockchain. What they want are tools that can solve their problems and achieve their goals. Designers need to create interfaces that are focused on outcomes, such as sending money across borders at lower costs, rather than the complexities that enable them. If crypto can prioritize simplicity, it will attract the legions of users who prioritize convenience over ideology. The need for balance One of the major attractions of crypto is the opportunities it provides, especially with decentralized finance. While most newcomers simply want to “own” some crypto, once they have it they may well be interested in exploring the things they can do with it. Decentralized finance provides myriad ways for users to invest their crypto, such as staking to secure the underlying blockchain network, lending funds to those who want to borrow, providing liquidity for decentralized exchange platforms and so on. The challenge for crypto apps is to incorporate these more advanced features within a simple UI that encourages convenient onboarding, creating a clear and simple pathway for users to explore the options available to them. This means showing people the potential rewards, as well as the risks, and explicit instructions on how to proceed. If crypto designers are looking for a blueprint on how they can strike this balance, they need look no further than the computer they’re using to create their apps. Modern laptops are simple things – everyone knows how to turn it on, open up a browser and start exploring the Web, or find the file they’re looking for within “My Documents”. But at the same time, those laptops are capable of running incredibly complex IDEs for application design, photo editing and accounting, which require a certain level of expertise to operate. Such complexities are buried just beneath the surface, allowing laptops to cater to the most sophisticated users while still being instantly accessible to users without technical skills. This is the kind of design crypto apps must aspire to. Is anyone doing it right? Most crypto platforms are still fairly mind-boggling for new users, but there are a few examples that buck the trend. For instance, Rabby is a rare example of a crypto wallet that virtually anyone can pick up and feel right at home in, thanks to a user-friendly UI that provides immediate clarity on how many assets the user has, how to buy and how to initiate transactions. It also highlights any security risks before the user confirms a transaction, while automating technical aspects such as choosing the correct blockchain. For crypto exchange platforms, few have achieved such an optimal balance as XBO.com , which follows a user-centered ethos in its approach to design. As co-founder Lior Aizik described in an interview with Hackernoon, its designers were heavily influenced by the most successful trading platforms in traditional finance, applying the lessons learned there to crypto. Its UI is focused on clarity and speed, with a fast onboarding process, simple wallet set up and a seamless trading experience that leaves no room for error or surprises. At the same time, XBO.com also incorporates functionality and tools for experienced crypto traders in such a way that beginners won’t feel overwhelmed. Accessibility is a top priority, and that extends to low minimum deposits, a seamless KYC experience, and a comprehensive loyalty program that provides easy access to rewards, encouraging new users to explore everything the platform has to offer. Such is the streamlined nature of XBO’s platform, it was recently named as the “Best Crypto Payment Gateway” by IFX. There’s also Grayscale , which is an example of how simplified design is expanding to institutional crypto users. As one of the top digital asset management platforms in the business, Grayscale stands out for its sleek and intuitive platform that caters to both seasoned investors and more traditional types, with a look and feel that closely resembles mainstream investment tools. Moving Forward These days, mobile banking apps have become so intuitive that they’re almost ubiquitous in modern societies. Crypto needs to do the same if it wants to unlock its potential to empower billions of people globally. To summarize, a better user experience is not a luxury for crypto. It’s an absolute necessity if the industry wants to achieve mass adoption. With a clean and clear UI, crypto can lower barriers to entry, engineer more trust, and make it relatable to the average consumer. Do that and people will not only see the benefits crypto offers, but be eager to try it out for themselves. The post Crypto’s complexity must be solved, but platforms need to get the balance right appeared first on Invezz