Inconvenient UI — A Major Concern on Existing Cryptocurrency Trading Platforms
Had a conviction to trade crypto? The familiar way is resort to a Cryptocurrency exchange. But do you know how easy (hard) are they to use? Delve down to understand more…
What is the issue?
At the very first sight, it takes time to grasp the concept of cryptocurrency. Once you are through, you would surely give it a shot to try your hands on accessing some coins and trade further. Cryptocurrency Exchanges stand in the first place to buy/sell crypto coins. The traders expect it to be pure but instead of simplifying the process; the present exchanges make it more cumbersome.
Think of a situation where you visit an online store selling beautiful garments, but you don’t find an option to buy them! The “Add to Cart” button is hidden under a lousy design, and the rest of the checkout process is so hard to handle. Same is with the current trading platforms. The necessary components for buying, selling, deposit, and withdrawal are hard to spot.
Apart from these critical aspects, there are other features like trading indicators and charts, reports, advanced trading features like social trading, screener, paper trading, etc. are also present in the exchange.
Not all crypto traders are used to interact with online trading platforms on a daily basis. Also, not necessary that all of them are from technical background. The extent exchanges are very high on accumulating state-of-the-art features, and in doing this, the design gets complex. Making it hard for traders to navigate and try to use at least the necessary components.
What did the Traders say?
It is the very own confession by crypto traders that the non-user friendly interface of the exchanges turns out to be one of the most significant hurdles while cryptocurrency trading. As a matter of proof, we have the survey result obtained by Encrybit - The upcoming Cryptocurrency Exchange had organized a survey on current CryptoExchange Problems, and 21% of the participants said that they were unhappy with the inconvenient UI on existing exchange platforms.
What should be done by Exchanges to overcome the problem?
Just as the survey by Encrybit revealed significant cryptocurrency exchange problems, the current and upcoming exchanges should survey to seek detailed insights on the issue of non-interactive UI. This will give the exchange providers a better and complete understanding of where is the most difficult faced and how the traders expect it to be.
Secondly, the design team at an exchange should think from the end users’ perspective and layout the components accordingly. The interface should be smooth and straightforward to use for both new and experienced traders such that it eliminates the need for preparing video tutorials and user guides on how to use the exchange.
Encrybit’s online survey has also gathered traders’ expectations from the future of exchange, and one to the primary demand was an exchange which is simple and easy to use. A trading platform with excellent and interactive UI will not only ease out the trading process for existing traders but also attract new users to trade.