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Dr. Daniel Mitev
RH Markets • Business Edition

UX in Web3: Dr. Daniel Mitev on Challenges and Future Trends


Published on July 09, 2024

One of the main issues with entering web3 is the difficulty in using blockchain platforms.

The complicated interface and poor usability make the technology much more complex than it is, especially for people with little to no experience.

Cryptocurrency has undoubtedly revolutionized the financial world, offering a decentralized and much more secure way of transferring value.

But what does user experience (UX )in cryptocurrency development do, and what role does it play?  Including what challenges it can tackle while making it accessible to more people.

Here is what can help.

Role of User Experience in Cryptocurrency and Web3 Applications

The interface must be user-friendly to ensure a perfect user experience. It should not be a hassle or create barriers whenever users access the services and products in cryptocurrency and Web3 applications.

A good user interface ensures simplicity with its intuitive design and ease of use.

In terms of web3, UX involves designing the platforms and improving the usability, wallets, exchange, accessibility, and overall feel of user experience.

Having a well-designed UX helps remove the complexity surrounding the world of cryptocurrency, enabling such apps and platforms to be more user-friendly and accessible.

Besides these,  here are some key roles in which UX helps in crypto adoption and web3 applications.

Simplifying Complexity

Cryptocurrencies and Web3 applications are highly technical, and their complexity creates a huge learning curve for the audience.

However, simple designs can remove the perceived difficulty of using crypto applications. A good design should simplify the complexities, making it easier for users to understand and use.

Help in Improving Product Visibility

The basic yet important key role of using UX design is providing visibility.

TrueForm helps create services and products that are much more visually appealing.  An unorganized store can prevent people from using or staying on the platforms.

UX design is necessary not only to make the interface visually pleasurable but also to organize it so that users can stay longer and return repeatedly.

Enhancing Transparency

The financial system depends on trust, and cryptocurrencies are no exception.

Having clear and transparent communication regarding processes, potential risks, and fees can help users be more secure

Transparency helps build credibility and trust while ensuring brands stay one step ahead of the competition.

Providing Better Customer Support

Another key role is to provide customer support that is easily accessible and responsive.

Users might require help or want to clear their doubts around the clock, so offering 24/7 customer support can foster a better user experience.

Encouraging Accessibility for All Users

Accessibility shouldn’t be ignored in any type of applications, let alone cryptocurrency platforms.

Ensure such apps and platforms are readily accessible to users equipped with keyboard navigation, screen readers, and other types of devices so that every user gets to access the application successfully.

Better Satisfaction and Communication

Ensuring a smooth onboarding process can help users not get overwhelmed by using crypto applications.

Focus on simplifying information, presenting simple step-by-step tutorials on using their accounts/wallets, and avoiding bombarding users with too much information at once that would increase their resistance to using such apps.

Moreover, prioritize UX in allowing users to provide relevant feedback and communication while using the app or website

Challenges and Upcoming Trends in Crypto UX

Besides understanding the role of UX in cryptocurrency, some challenges should be considered.

Adapting The Evolving Changes

The cryptocurrency landscape keeps on changing and evolving constantly. It includes staying updated with technologies and regulations.

To keep up with these changes,  Trueform Studio ensures it is up-to-date and revised. It can be challenging, but the help of expert designers can help maintain the competitive edge.

Maintaining Security and Usability

Another challenge that arises in cryptocurrency is balancing security and usability. Ensuring a user-friendly experience while maintaining top-notch security is challenging.

Providing Education to Users

Many people are new to cryptocurrencies, and users need to understand the technicalities and terms, which is another challenge.

Providing comprehensive resources and educational support is crucial, but it will need investment and effort to make it digestible for the learners.

Upcoming Future Trends in Cryptocurrency UX to Look After

As the market continues to grow, several trends are going to be in the spotlight.

“Onboarding new users into the crypto space shouldn’t feel like climbing Mount Everest,” says Daniel Mitev, founder of TrueForm. “Complexity breeds hesitation, but simplicity builds trust. Clear instructions are essential for making crypto accessible. Brands have a key role here—creating approachable design bridges the gap between crypto’s complexities and the everyday user. This ‘human touch’ in branding is crucial for building trust and driving broader adoption.”

Here are some upcoming trends brands should look out for and consider in their brand strategy:

Better Features for Privacy

Since privacy is a growing currency in web3, the trend will focus on incorporating better and more secure features to protect users.

This also includes a strategy, advanced encryption, and design elements that give users more control over data.

Seamless Integration and Cross-platform Functionality

The growing opportunity is also going to include the interoperability between different blockchain networks as well as cryptocurrencies.

It will also simplify the experience and overall user interactions.  Managing multiple assets can be easier, and performing transactions can be safer and hassle-free.

Integration of AI and Machine Learning

AI and machine learning are the future, and they are already working to personalize the user experience.

Personalized data can provide per-user requirements and recommendations. Through advanced technology, security can be tightened over fraud detection.

About TrueForm Studio

TrueForm is a design studio that uses design thinking techniques to solve product (UX/UI) and marketing (brand identity) challenges.

TrueForm helps brands find their true form and guides them through each step of expressing their authenticity via their designs.

While it goes beyond the basic aesthetic, TrueForm focuses more on uncovering the truest form of the product and brand.

With a hand-in-hand partnership, they work to design a user-centered design that includes data-driven decisions while building a strong understanding of the brand, audience, and goals.

References

Newsdesk Editor