One of the most significant rises in cryptocurrency will come when the user experience, including on-boarding, is made close to frictionless for the average consumer.
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What, do you think, is key to on-boarding in crypto?
I rate:
1. Basic, fundamental understanding. This is hard! 2. Representation - i.e. education of the user through the interface. 3. The Status-Quo'ers.
#1: The words are not commonly representable by modern human vernacular. Crypto's hard to explain, man! The basics have to be really, really virile.
#2: If I have to type in a longass number, you lost me. If I have to type in any number, its a losing game. See #1.
#3: Nothing beats cash in terms of usability.
On-boarding of ¥ € $ == ∄
On-boarding of web/app/&etc. == ?
> What, do you think, is key to on-boarding in crypto?
Convincing someone they need bitcoin.
I have no idea how to buy bitcoins. I guess I could find an exchange, or I could also go to the Bitcoin ATM at my local Thai place. (Seriously. No idea why.) But I apparently have to provide my driver's license to exchange cash into crypto-currency.
What? I'm not putting that into a random machine. That's insane. I don't have to provide identification when I'm exchanging Euros into Dollars at the airport, why do I have to send off all this valuable information to a random person through an ATM over a god-knows-what-kind of connection?
Great. I've just jumped through hoops, and for what? What am I supposed to buy with it that I can't buy with cash or credit? It seems to me that about the only thing I can do with it that's useful is move a large sum of money, relatively cheaply - and if I happened to buy the bitcoins from a guy in a parking garage, I might even be able to do it with something approaching anonymity - assuming I never, ever, ever make a mistake.
So how do you convince, say, my mother or my grandfather that they need bitcoin?
I just go to the supermarket and buy a Bitcoin card, for 20eu, and use it immediately to buy things on the Internet.
Its just there, right next to the iTunes credit, the Amazon credit, the Google Playstore credit, etc. Little cards that I get .. approximately .. 20 minutes of physical time with, before I discard them and just get the order placed.
Its hard to deal with that, usability-wise, but I guess you have to be in an "expanding market", like midde-Europe/close-to-Russia to appreciate how weird it is to just buy Btc at 7/11,Billa, and use it to ship stuff from China.
Edit: i.e. I don't really wanna do it with Euro/$ no more, because Btc. in China is a value proposition...
Weird, I've always had to provide identification to exchange dollars & X currency at airports.