What is Cryptocurrency?
“A Peer-to-Peer Electronic Cash System“ Cryptocurrency is an internet-based medium of exchange which uses cryptographical functions to conduct financial transactions. Cryptocurrencies leverage blockchain technology to gain decentralization, transparency, and immutability.
Bitcoin Now Available At Coinstar Kiosks
Coinme partners with Coinstar during our wallet redesign
Initial Assumptions from stakeholders:
1. Coinstar users want to redeem cash into Bitcoin
2. People want to make money and use it to send overseas.
Coinme needs a simple trustworthy wallet that caters to expansion goals of managing 20 currencies, the Coinme wallet needs to be intuitive and support new cryptocurrency enthusiasts at the grocery store.
To represent the trust, security, and support Coinme would provide crypto-curious users, I created this mood board to spark creativity in our design.
Finding The Heartbeat Of Our User
The Discovery phase started our UX process to gain insights into understanding our current and potential users to shape our wallet redesign. I tasked our team to watch the Netflix documentary 'Banking On Bitcoin' to start off the discovery phase. Our team gained a shared understanding of cryptocurrency by learning what conversations were happening in this space.
Key insights learned:
A better understanding of the business & history of Bitcoin
Common motivations, thoughts, structure, and behaviors in this ecosystem.
The Kiosk Experience
To understand the customer experience holistically our team met with stakeholders to exchange a USD Dollar into Bitcoin using their Atm kiosk.
During this narrative experience, we discovered opportunities Coinme could consider while trying to entice new kiosk and cryptocurrency users like Megan and myself.
1. Add a clear label of current BTC value, which is displayed on the bottom left corner of the screen. This label will clarify what the current BTC value is.
2. Show the real-time camera interaction, providing a feedback response will assist, engage, and help simplify how the kiosk operates to the customer. Feedback provides comfort and a sense of security, our Coinme customer is looking for.
3. Provide a successful feedback response when verifying your Identity.
There was no indication that your photo was successfully captured and accepted, raising confusion when starting this experience. Visible feedback would provide clarification that your goal was successfully completed. This feedback helps decide if the outcome of our action is a valuable investment of time and if the kiosk effort is worthwhile.
Coinme BTC Kiosk
To understand the space they operate within. I conducted a SWOT analysis, comparing the content landscape of Coinme with primary competitors, Coinsource, and Coinbase.
Strength opportunities revealed in this analysis was Coinme’s reputation of being America’s first licensed BTC Atm operator, and the newly added reach of customers with Coinstar partnership.
Coinme's Weaknesses in lack of content maturity & visual brand identity increased Threats from their competitors Coinsouce and Coinbase's whom both had well-established brand consistency, clear page ownership, providing support & security with their brand.
1. Provide additional cryptocurrency education for new crypto-curious users who aligns with the targeted persona.
2. Increase Coinme brand presence and page ownership
3. Expansion to support additional currencies
4. Add additional security measures, such as two-factor authentication
Coinme users need a user-friendly and trustworthy digital wallet that is simple and intuitive, the current design does not cater to the expanding user-base with the new partnership with Coinstar.
1. The current wallet is not user-friendly simple or intuitive.
2. It contains inconsistent branding lack of page ownership and brand identity.
3. It does not support Coinme wallet expansion goal of managing 20 cryptocurrencies.
4. Increased user cognitive load, featuring transaction redundancies and when scaled down for mobile, iconography labels were removed.
1. Simplify the current structure, making it easier for our wallet users to access useful support help & intuitively manage their cryptocurrency.
2. Filter through the current structure of the content to identify what was relevant and useful to the user, and what wasn’t.
3. Create structured communication to the user by eliminating redundancies in redemption tracking, decreasing users' cognitive load.
4. Increase Coinme's brand presence, making this experience feel trustworthy.
5. Provide scalability for additional cryptocurrencies.
Coinme Wallet on desktop
Coinme Wallet on mobile
Locating Wallet Users
I asked Millennials (born between 1981-1996) who are early adopters & primary cryptocurrency users questions pertaining to the frequency, motivations, current knowledge, and preferred method of redemption while using Coinstar kiosks.
Survey results indicated
1. That only 3 out of 15 responses would, in fact, redeem cash for Bitcoin.
2. 11/15 respondents had used Coinstar before at some point but not within the last year.
3. 11/15 had heard of cryptocurrency but were not familiar.
Due to limited information provided from stakeholders on the assumed persona, the Coinstar user.
I conducted a screening survey to target assumed persona who aligned with the business goals and partnership. With more time I would explore more grocery store occupants.
I conducted 9 in-person interviews, during which I asked users to walk through the current Coinme wallet and share initial thoughts and describe their experience.
I asked participants to identify BTC balance and demonstrate how they would send and receive Bitcoin which are primary wallet tasks, while they are verballing narrating their experience.
A few descriptive quotes of Coinme wallet from interview walkthroughs:
"No brand identity. "
"Did not look like a financial institution."
Coinme wallet desktop view pre-redesign
Quotes From Interviews
“ My experience with cryptocurrency is that my friend invested a [bunch] of money and lost most of it.”
"It's a whole new world of things to learn and how to navigate it."
"Trust = Consistency"
“Crypto is interesting & intriguing.”
“Cryptocurrency is before its time.”
I created this affinity map from interviews I conducted on Millenials to identify themes and trends. Insights gained drove our design development decisions.
Current trust expectations
Thoughts of untrustworthiness
Thoughts and feeling of cryptocurrency
Expectations of digital wallet functions
Current knowledge of cryptocurrency
Prior investment experiences
Primary banks used
Online purchasing behaviors
Building Trust Feels Like
Dissecting what trust feels like from interviewed users (as seen below) helped implement two-factor authentication, visible branding and page ownership throughout our design.
Affinity Map Key Takeaways
Strong emphasis on Trust, Brand & Security, which drove the implementation of two-factor authentication, visible branding and page ownership
Brand consistency and how to build trust throughout users' experience by showing ownership of the page content.
Security language and images like locks, visible branding, and logos helped users feel a sense of Security, Safety & Control
Is Cryptocurrency Worth The Investment?
Meet Aaron Collins, he has the same behaviors, motivations, and needs as the Coinstar persona. Aaron is looking to perform simple wallet functions to unlock investment opportunities. Aaron is CURIOUS, OPTIMISTIC yet CAREFUL, he considers himself a novice investor.
Needs an easy way to create a cryptocurrency wallet and manage cryptocurrency funds.
Needs trustworthy support when handling finances
Needs security in a company brand if speculative news is heard about cryptocurrency
Wants to growth investment potential
Wants sincere financial support
Wants to unlock investment opportunities
Testing Use Cases
I tested tasks Aaron our curious for cryptocurrency user would perform.
Task #1 You recently exchanged money at a Coinstar kiosk and would like to redeem your voucher to your existing Coinme wallet.
Task #2 Locate where you would receive cryptocurrency into your wallet and copy your address.
Task #3 Demonstrate how you use this website to send Bitcoin.
Testing started with paper prototypes, which helped guide UI navigation and wallet content from the start. We knew we wanted to visibly show a Coinme presence that represents their brand's consistency and support for their customers. Each prototype iteration confirmed wallet users' expectations and needs from Coinme's wallet. Effectively and intuitively creating trustworthy support and security with the Coinme brand.
Wireframes created by Brendan Thatcher
User pain points from usability testing encouraged the following iterations
Icons were removed and the hamburger menu was implemented. Saving screen space, decreasing the users' cognitive load, and allowing users to concentrate on the core functions they are performing. Looking towards Coinme’s expansion will add services such as buying and selling, the hamburger menu saves screen space and helps users concentrate on what they want to see
To help ease the user experience and confidence in the Coinme Brand, information icons were created. The information icons provide users with support throughout the wallet. Icons provide various explanations of fees, like the satoshi per byte.
Conversion to and from USD to Bitcoin, current wallet design conversions only support a BTC to BTC conversion. To make this task even more difficult, a calculator was not provided for these conversions. By implementing USD to BTC conversions wallet users can transfer and convert their funds using common currency denominations.
Hi-fidelity mockups created by Patrick Coury
Coinme Wallet Redesigned
Through the design, we achieved
Clarified communication of content
Increased user comprehension
Confidence in wallet use
Support for additional currencies
Leading to the adoption of the Coinme Digital Wallet.
We will know this to be true & met our goals when we see an increase in wallet satisfaction, user retention and a decrease in customer support calls
Hi fidelity mockups created by Patrick Coury
Hi-fidelity Clickable Prototype
I created this clickable prototype video using Invison
Flush out the general grocery store occupant, who will now have easier access to the new Coinstar / Coinme kiosk with the new partnership, and Millenial persona who was found to be an early adopter of Cryptocurrency per secondary research.
Include more education in the design to educate cryptocurrency users, enticing new and potential users. This could mean Cryptocurrency onboarding, Cryptocurrency 101, or helpful investment tips
Test hi-fidelity mockups record qualitative research and sus scores, while continue to iterate until we hit above 70% and satisfied customers.
This project allowed me the opportunity to learn about cryptocurrency which I had no prior knowledge of until working with our client Coinme. It was a great learning experience diving into this new ecosystem. I found it interesting to discover motivations, behaviors, and conversations that were happening in this space.
Because each team member was assigned specific roles in this project, I learned how important team communication was during the whole process. With my role in research, it was vital to establish clear pathways of communicating and informing team members of new learnings and discoveries from interviews and usability testing which drove our design process. We utilized a daily scrum, where we had opportunities to get eyes on work, share new ideas and gain different perspectives. Exchanging our blockers were extremely helpful in increasing our awareness of the progress each team member was working on, it allowed us to keep transparency and alignment with our project goals.