We raised Series A funding, following a successful presentation of our user interface and solution to key investors.
Role
Senior Product Designer, I drive the designing of innovative, user-centric currency swap application, leveraging thorough research and analysis to inform design decisions.
Timeline
8 Weeks
Skills & Method
UX Research, Information Architecture, Qualitative research, User interviews, Usability testing, UX design, UI design, and Quantitative research
Team
1 Product Designer, 1 Product Owner, 1 Product Manager and 6 Developers
Tools
Figma, Miro, Zeplin, Notion, Survey monkey, Maze and UserZoom
Target Audience
Crypto traders comprises of tech-savvy agent and customer.
Project Overview
The challenge:
Nigeria is used as a case study where people find it difficult to withdraw and deposit funds in the crypto ecosystem with government policies making it harder and with peer to peer is risky only a few trusted people are available.
Project Goals:
To create On/Off ramp system which will be a solution to the biggest challenge of cryptocurrency adoption in Nigeria the goal is to make money flow between the traditional (fiat) and crypto ecosystems.
Target Users:
Nigerian Tech-savvy crypto traders, age 16 - 50 years comprises of agent that help the customer exchange their cryptocurrency to cash and vice versa and customer who approach the agents to help in currency swap.
Design Process
Empathize
To start the process we have to deeply understand the people we are designing for by putting ourselves in their shoes to carryout a user research.
User Research
To understand the user needs and pain points we conducted research on the customer and agent using user interviews, and we also do competitor analysis to understand our competitor.
User Interview
A semi-structured interview was conducted, below are the question for the interview.
Agent
- What is your understanding of cryptocurrencies?
- What type of cryptocurrencies do you know?
- Do you have crypto wallet and what currencies?
- What app do you use to trade?
- Do you have smartphone, and what type?
- If given an application can you swap currencies for customers?
- Will there be any barrier stoping you from using the provided application?
Customer
- What cryptocurrencies do you trade with?
- How do you put money in your crypto wallet?
- How do you withdraw your money from crypto wallet?
- Which application do you use to trade?
- Do you have any challenge withdrawing your money from crypto wallet?
- What better way do you think you can deposit and withdraw from your crypto wallet?
Ask an expert and Stakeholder Interview
Stakeholder
The interview was conducted with stakeholder to understand what the project about, the business goal, the target user and the problem project is going to solve here some of question
- What the project all about?
- What are the goals, values and vision of your company?
- What problem does your product solve?
- What are your unique feature that are selling point of this project?
- Who are your user?
- Who are your competitors?
- What research has been done before?
- What are the deadlines for this project?
- What should this project accomplish for the business?
Expert
The interview was conducted with expert to learn about the risk, the government policies and understand cryptocurrency system better.
- What are the main factors to consider when choosing an on/off-ramp exchange?
- What are the regulatory requirements for on/off-ramp crypto transactions in my country?
- What are the common security risks when using on/off-ramp exchanges?
- What are the typical fees associated with on/off-ramp transactions?
- Are there limits on how much crypto I can convert to cash at once?
- What are the best decentralized (DeFi) alternatives for cashing out crypto?
Competitor Analysis
Below is the list of competitors that offers on ramp/ off ramp crypto-fiat and vice versa
- Ramp Network is based in Poland
- Transak is based in the UK
- Moonpay is based in Malta
Define
The insights gained from the empathy phase helped us define the problem. By analyzing and synthesizing these findings, we began ideating and created an Affinity Diagram to organize all the data gathered from our qualitative and quantitative research.
User Personas
We created a user persona from survey and interview data it’s played a crucial role in identifying and understanding the core requirements of our target audience, enabling us to develop tailored user profiles. User persona provides understanding of user needs, goals and pain points.
Bassit Bello
"I want to swap my bitcoin to cash it's very hard to see who can help me."
About
Bassit is a student of university of lagos. He trades cryptocurrencies but he want a platform where he can easily convert crypto to fiat and vice versa
Goals/Motivation
- Swap currency easily
- Cheaper exchange charges
- Secure platform
- Instant receiving of cureency
Pain Ponts
- High exchange charges
- Too much of scam
- Unsecured platform
- No currency swap platform in Nigeria
Ebuka Ugoze
"I need a platform where i can sell and buy crypto to customer."
About
Ebuka is a business owners who have sells lot of things and also a crypto traders he has a community that demands a person that can help them swap their crypto to fiat and versa. He want a platform that his community can use to patronised him and where he sell and buy crypto to them.
Goals/Motivation
- A platform to swap currency
- Secure Platform
- Earn income
- A platform that customer can reach out to the agent
Pain Ponts
- Customer prefer trusted platform
- No currency swap platform
- Limited customer
- Government policies
Ideate
The transition from problem definition to solution generation was facilitated through focused brainstorming ideation sessions.The ideation phase yielded a multitude of innovative solutions. We use the post-it voting to pick best idea from the generated form brainstorm session, we voted the idea that best solve the crypto to fiat current currency swap problem.
Solutions
- Provide a mobile application to be used by people who help in currency exchange called an agent.
- A platform where people can able to convert crypto to fiat and vice versa as easily as possible.
- Providing a secure and trusted application for both agents and customers.
- An agent can fund a wallet with supported currencies.
- An agent can withdraw the same currencies they deposit.
- An agent can generate revenue by setting up the commission.
- A platform that is independent of government policies.
- An agent should be able to swap currencies both online and offline to their customer.
- A platform that accepts the use of cash and bank transfers for fiat payment.
- The support cryptocurrencies will be bitcoin, Ethereum, litecoin, USDC, and USDT and fiat is Naira.
Post-solution identification, we visualized the ideal user experience through customer journey mapping, information architecture, site mapping, and user flow diagrams, outlining navigation and interaction pathways within the application.
Prototype
We kicked off the prototyping phase by creating basic wireframes and detailed style guides, then used Figma to design and develop a visually appealing mobile interface.
Authentication
Home Pages
Buy Crypto Pages
Sell Crypto Pages
Account Pages
Test & Iteration
Usability Testing
Upon completing the UI design, we developed a clickable prototype and conducted usability testing with five participants to assess design effectiveness and identify potential enhancements.
The following enhancements were implemented:
- Set up Commission: We set up a fix commission percentage that agent will charge their customer, the agent preferred to be the one to setup the commission percentage they will charge their customer so we allow them to do that but will still but a limit to amount they can charge the customer so that they wont overcharge them too.
- Improving Withdrawal - The agent ask for an option to withdraw the crypto on their wallet to their bank account then we added the option to covert their crypto wallet to fiat to able to withdraw to their verify bank account.
Post-solution identification, we visualized the ideal user experience through customer journey mapping, information architecture, site mapping, and user flow diagrams, outlining navigation and interaction pathways within the application.
Launch Plan
We released a beta version of the application to a selected agent and customer to enabling them to share feedback prior to a broader launch.
User Feedback
Following the launch, we received favourable feedback from users who valued the feature for organising their projects effectively. Notable comments included:
for currency swap it’s absolute the best !”
help me people from getting scam..!”
User
Feedback
crypto and crypto to fiat easily .”
out on where, how to convert it to cash with
this platform all this is done”
Result & Impact
The company raised $1 million in Series A funding, following a successful presentation of our user interface and solution to key investors.
Future Enhancement
Our MVP is a starting point, tested with a limited audience, and we anticipate ongoing iteration and improvement. Future development includes adding more crypto options, customer having their mobile app to save crypto, launch it other country and more feature will be added after we do our research and get feedback from our users.