Overview
BitChain Exchange Platform is a multi-platform to trade cryptocurrency. It mainly targets to the experienced crypto investors and expects to offer them a smoother and securer trading system.
Background
With the rapid recovery and growth of Cryptocurrency in 2019, crypto trading has become more profitable and popular within the financial market. I joined BitChain company as a UX designer when it was just founded as start-up company that consist of 20 expertise talents including backend-developer, frontend developer, data engineer, marketing team and business team. I led the product design, UX strategy for the team and work closely with the business analyst and front-end developer daily.
My Role
UX designer
Team
20 expertise talents team
Design Tools
Balsamiq, Figma, Sketch, Adobe Photoshop
Working Environment
Agile
Problem Statement
There are several big names within the industry and majority of the users have tried these products in order to decide which platform they are going to stick. As a new platform, how we can earn our reputation among such busy market needs to be carefully designed.
Our target users are experienced crypto investors (as stated in the business goals and strategy). Comparing to novice users, experienced/expert users know what they want to see from a trading platform. Crypto exchange platforms are distinguished by high transaction speed, lower fees and higher security. So to earn reputations from expert users, we conclude the design challenge as:
How to design a platform to maximize the visibility of experienced users' potential profit, and minimize their effort of operating the system.
Design Process
Brainstorm
Research
I and the business analyst work together in 2 weeks to analyze the current popular trading platforms in the market over the world, but I focus more on the UX perspective and business analyst focus more on the business/ operating model. We work through more than 10 platforms over the world, and pick 4 platforms which have larger number of users or trading volume and talk with experienced users about their experiences.
Brief findings of the research:
1. Whether the non-register user can view the trading dashboard or not varies between different platforms. That is painful if users have to register and log in to view the current rate and market due to fast market, especially when we want to attract lots of customers in very limited time. We should decrease the entry barrier for new users to discover how this start-up trading platform can offer them.
2. Majority of the trading platforms have the trading dashboard designed in a style more like the stock trading platform, but only very limited number of the platform design the trading dashboard as a regular table format. We learn that expert users get used to search information they need within huge amount of numbers within the platform and they need all these information displayed for them to make their own analysis and decision.
3. Only 10% of the platforms provides the mobile version which limit the trading frequency of users.
4. Users can be annoyed by the high frequency of security notifications. Their concern of security does not mean the user's journey can be interrupted by authentication/ notification very often.
Ideation
We identify the following key features to build the MVP structure. Then I create a site map to organize the pages, information, and navigation of the platform.
Wireframes
I lead and design the wireframes for all the functions within the MVP. And iterate the design process within stakeholders and expert users.
Hi-Fi Prototype
I will showcase 3 examples of the Hi-Fi prototype screens to illustrate the design considerations and solutions for the problem statement.
1/
Everything that expert users need should be placed in the priority place when designing the trading dashboard.
User's pain point:
For expert users, they want to check out the price chart to initiate their buy/ sell action. The see their profit potential from the real-time changing data instead of the calculation number at the buy/ sell section.
Solutions:
We decide to put the price chart at the top left, and the order books & recent trade history on the top right. Then the buy & sell section on the bottom right just under the order book.
According to the eye scanning pattern, people with the cultures who read left to right, usually start reading huge amount of text or information from top left. And according to the eye tracking study that people's eye usually attract first by large picture or outstanding color or even something dynamic within a static page. These studies support our layout that expert users want to know data first before buy/ sell.
We also lighten up the “buy” or “sell” buttons in their section for users to quickly locate the section they want to take action.
With this solution, we are offering users the best experience catch data to support their decision of making profit.
2/
Every potential expert users should be able to view the data before log in to increase their possibility of switching to real registered users.
User's pain point:
Without learning how good the platform is, users will not willing to provide sensitive personal information to register a new platform.
Solutions:
We offer non-register user to browse market information and calculate cost of each transaction. Whenever users satisfy with the rate, they will be offer the call to action button to register/ log in.
3/
Every click and transaction users make should initiate corresponding feedback, but should not interrupt user journey.
User's pain point:
Trading crypto this moment and next second can make huge different profit. It matters a lot if users have reliable adds-on feedback when they type or submit order.
Solutions:
At buy and sell section, we clearly note “Buy BTC” or “Sell BTC” on the action button so that users can double check their order before submit instantly. We also provide reminder when users typing in their desired buy/ sell amount to let them know what is their maximum transaction volume. After click the buy or sell button, users should be able to see the notification of confirming order as clear feedback.
