Making Crypto Less Cryptic for Traders
Protecting Clients When Moving Coins Effortlessly and Safely
Client
Wealthsimple Crypto
Industry
Financial
Role
Sr. Product Designer
Duration
3 months, 2020
THE CLIENT
Trade/Crypto is Canada’s first regulated cryptocurrency trading platform that enables users to buy and sell coins safely and securely.
SOLUTIONS
Mobile App Design
Responsive Web Design
Evaluative User Research
Card Sorting + Tree-testing
Ideation Workshopping
IA Concepting + Wireframing
OKRs & OBJECTIVES
To expand crypto offerings by allowing users to transfer coins from other external wallets to and from Wealthsimple Crypto accounts.
10% conversion increase
⬆️ Increase client growth
lower customer churn
higher conversion rates
$15M Revenue
⬆️ Increase withdrawal/deposit volume
contribute to annual goal to reach $15M in app revenue for Crypto only
15% NPS increase
⬇️ Decrease in customer support tickets
20% ticket volume deduction
increased NPS of 15%
THE PROBLEM
Cryptocurrency investing is one of the most exciting yet volatile ways to trade.
Many young or inexperienced users are participating in the latest cryptocurrency trading trends, and may not be fully aware of the short- or long-term financial consequences – especially with so many unregulated or insecure platforms that exist today.
Over 1M+
Active Canadians use Wealthsimple Trade/Crypto.*
18 - 29 yrs old
Is the primary age group of Trade/Crypto users.**
THE VISION
To enable clients to easily find and confidently access transfer functionality in the WS Trade/Crypto mobile product to make informed crypto decisions.
HMW educate and inform clients on the crypto transferring process and the fees involved?
Crypto Transfers – Desktop view
DESIGN PRINCIPLES
🔍 Discoverability is key
Clients can easily find and access the send/receive function.
📍 Contextualize the action
Allow access from various entrypoints that’s related to the action.
⚠️ Protect & educate clients
Crypto transfers are irreversible – ensure clients are a) using the correct address and b) aware of the consequences.
Collaborative ideation workshopping with stakeholders and team members.
TEST & UNDERSTAND
To understand users' mental models and terminology around navigating funding actions and crypto transfers
We did these activities
5 Moderated & 17 Unmoderated Card Sorting
Qualitative Interviews
Content & Terminology Testing
WE DISCOVERED
All clients commonly made Crypto a separate category
All clients grouped crypto-related actions together in one category, but there was a split result of grouping actions by entity vs. institution vs. direction.
⭐ Opportunity
Explore an institution-based IA model, but take a hybrid approach to bring in elements from other models (e.g. separating out settings and crypto).
‘Transfers’ was most intuitive, followed by ‘Withdraw or Deposit’
Overall, clients were confused and uncertain about other terms like “wallet” or “network fees”.
⭐ Opportunity
Leverage intuitive terms where possible, while also educating clients throughout the flow to help them understand these concepts.
RESULTS
1 Ensuring a simple and informative transaction
We included descriptors on how to perform a withdrawal and deposit with human language, including information on the fees involved, and used values that were intuitive and transparent.
Crypto Transfers – key screens featuring main functionality.
2 Friction Points to Inform + Educate
We intentionally created confirmation and tooltip drawers to:
inform users about the irreversible action of sending crypto
educate users on the fees involved
describe how to check its transactionon the blockchain
3 Discoverability with Various Entry Points
Allowing users relevant access points to transfercoins is essential for discovery; at menu level, theaccounts level, and coin details level
Crypto Transfers – contextual entry-points across the app experience.
OUTCOMES
Since the successful beta release to both iOS and Android platforms, crypto transfers is now accessible to over 1 million Wealthsimple clients, creating a competitive edge to the platform’s offerings.
“Mandy has strong product thinking skills and experience. She’s always asking the right questions and approaching each ask with an awareness of the problem space. I admire her ability to go deep – she’s an incredibly thorough and thoughtful designer.”
“Huge shout-out to Mandy for amazing work on Trade & Crypto. She’s done an amazing job of continually shipping
new features and keeping the client experience top of mind in our decisions.”
“Mandy takes the time to understand the engineering perspective when approaching design which makes the experience more collaborative – and she is just fun to work with.”