Don’t ruin your crypto wallet app with losing design and poor user experience.
Yes, you’ve heard that right. A positive user experience is a huge asset in each and every industry. And crypto market is not an exception to this rule. You win or lose your audience and clients by paying (or not) attention to details like font or a simple registration process.
Stats prove this fact, and even market kings understand the value of an appealing crypto wallet app design. For example, Coinbase has a mobile application allowing users to buy, sell, receive, and send crypto with a few mouse clicks. One app for everything, clear and fast.
In recent years, the number of crypto app downloads has risen, reaching 82.8 million in 2021. And there are over 300 million people worldwide using crypto in 2023. So, the future is behind crypto apps. Now, the question is… How to build this compelling crypto wallet app?
This article will highlight the essentials of making the best crypto wallet design that users will love. Let’s move further.
Understand User Needs and Behaviors
To create your own successful cryptocurrency app, you should know your customers and get the best from your competitors, understanding their strong and weak sides. How to achieve this? Make user research and competitor analysis. This process involves a deep exploration of the preferences, habits, pain points, and aspirations of potential users. By understanding the end-users motivations and expectations, you and your crypto wallet development team can tailor the wallet’s features and interface to align seamlessly with user requirements.
One of the main founders’ mistakes when making a crypto wallet app is to forget that their clients could be not only crypto gurus but also non-technical users. Understanding the diverse potential users is integral to crafting a crypto wallet that truly resonates through UI/UX and wallet functionality. Let’s explore some of the key target segments that can benefit from a well-designed crypto mobile app:
Design an Intuitive User Interface
You certainly heard about Vitalik Buterin, a founder of Ethereum. In one of his posts on his website, he also highlighted the importance of thinking about user experience (UX), user interface (UI), and visual design in crypto.
“Good user experience is not about the average case, it is about the worst case. A UI that is clean and sleek, but does some weird and unexplainable thing 0.723% of the time that causes big problems, is worse than a UI that exposes more gritty details to the user but at least makes it easier to understand what’s going on and fix any problem that does arise,” Buterin says.
The intuitive user interface represents the nexus where user journeys are meticulously laid out, and the pathway to seamless cryptocurrency adoption is illuminated. Let us navigate the nuances of this phase.
The judicious amalgamation of design elements imparts a narrative of meticulous attention to detail, reflecting positively on the overall user experience. The prudent integration of icons and labels in the interface serves as a guide for users. The efficacy of such tools rests on their intuitiveness, ensuring that they resonate with users across linguistic and cultural diversities.
Employing clear, succinct instructions coupled with strategic visual aids effectively assists users in their orientation. A gratifying sense of user-friendliness is established by minimizing the steps involved in the registration process and adeptly collecting only essential data.
This approach curtails user hesitancy and imparts a sense of companionship in traversing the convoluted terrain of cryptocurrency.
When you already have one of your wallet’s first versions, it is worth launching beta testing for a small audience, asking people to give feedback. How much time does it take to complete the registration process? And what about the first transactions? This is called usability testing.
Also, remember that the user interface should easily be adapted to different screen sizes and devices, such as desktop or mobile. Both desktop crypto wallet and mobile crypto wallet should be equally comfortable, and each screen of your wallet should serve a certain purpose.
Security and Trust
If a crypto app does not guarantee data security, privacy, and anonymity, it does not cost a thing. From the user perspective, a crypto app should care about preserving assets no less than ordinary banks. Nothing else matters more.
We won’t cover all the differences between types of crypto wallets here, but you can take a glance at our article on this topic. Let’s better focus on understanding potential threats you can struggle with during the development.
It is important to design a threat model and security architecture as part of your software architecture. Only in the first three months of 2023 the hackers have stolen $400 mln from crypto projects. So yes, the challenge is serious.
You can add definite actions to your crypto app to help users prevent the vulnerability of their data. What are they?
- Two-Factor Authentication (2FA)
One of the notable features of two-factor authentication is asking users to confirm login attempts from unknown IP addresses. One of the non-obvious benefits of (apart from providing additional security for users) is reduced helpdesk and support costs. The thing is that without 2FA, the only way to recover a password is by asking a helpdesk. Stats say that about 35-40% of the calls are related to password reset. So, minimize expenses where you can do this.
- Biometric Authentication
You probably know what biometric authentication is. While being widely used in smartphones and laptops, it is also one of the efficient ways to confirm who you are with your face or fingerprints.
- Multi-factor authentication
By multi-factor authentication, we commonly mean two different forms of authentication. For example, it can be a password and a one-time confirmation code (Binance uses this combination).
Performance and Speed
Your audience needs access to transaction history and other essential information while using a crypto wallet. By employing indexing and optimized database queries, crypto wallet developer ensures that users get all data as quickly as possible while also overcoming challenges like network congestion and embracing scalability.
Cashing mechanisms are a game-changer in performance improvement and speeding up load times. Use content caching and CDN caching to deliver static data and assets closer to users. Implementing smart database queries eliminates repetitive queries that slow down the wallet’s responsiveness.
The company could provide customers a seamless and reliable experience by implementing quick transaction processing confirmation. Quick or real-time transactions help users make informed decisions and get knowledge of the status of their operations, instilling confidence in the wallet’s performance.
How INC4 uses the best crypto design practices?
Our team has a big expertise in developing crypto wallets, so we know what the best product should look like. By having many highly skilled professionals at our workplace, we can make outstanding products and know what works and what does not in crypto wallet development.
We know how to design the best crypto wallet because we have already worked on different projects. One of our latest achievements involves making a simple, convenient, and secure alternative banking solution that enables users to easily trade and borrow Bitcoin and Ethereum directly from their smartphones.
While the main task lay in implementing deposit and withdrawal for BTC, ETH, and USD, we also crafted functionality that let users borrow USD against BTC or ETH collateral. Moreover, ACH and Wire transfers have been connected to work with fiat currency. So if you want some support, apply to us, and we‘ll quickly and efficiently design a wallet for you.
Final thoughts
Crypto app design is an essential part of creating a crypto wallet. By paying proper attention to such important things as convenience of use, the company could increase product satisfaction and prevent churn. Research end-user goals to make the best-tailored solutions and ensure a seamless customer experience. In a world with a multitude of options, digital quality has become a decisive factor.
At INC4, we are happy to assist with UX/UI design, transaction interface, branding, and other key considerations. Contact INC4 to know how we can help you launch the product that customers love.
