User-Friendly Platforms for Bitcoin Trading – Features List
With Bitcoin and the rest of the cryptocurrency industry being on the rise again, there is a renewed interest in trading and investing in the space. In order to successfully invest in Bitcoin or another crypto, you need to find the right platform or bitcoin exchange. However, with literally dozens of different Bitcoin trading platforms out there in the world, which one would you choose? Well, there are a number of different criteria you can use to judge these platforms.
While things like fees, security and reputation are important for these exchanges, arguably the most important thing is the user experience. No one wants to use a platform that is slow, clunky, unresponsive or incredibly confusing. If a platform suffers from these issues, it is unlikely to become very popular at all. A platform needs to be user-friendly in order to gain widespread traction in the market. But which features are making a platform “user-friendly”?
With all of that in mind, this article is going to observe some of the various features that can make a platform or exchange user-friendly.
Works on Different Devices
The world is changing, and people are using their mobile devices more frequently than ever before. In addition to using them for checking emails and stay in contact with friends, many people are also wanting to use these devices to make trades and invest in crypto. Being able to buy, sell or trade while you’re out and about provides a ton of flexibility and potential. With how much people want to use their mobile devices in the crypto space, a great way for a platform to be user-friendly is to offer a solid mobile experience.
Exchanges and platforms like CEX.IO offer high-quality mobile apps that provide a lot of functionality and offer many features, available at the desktop platform. While the exchange you go with doesn’t necessarily need an app (though it is incredibly helpful), their mobile site must be suitable. Nevertheless, you don’t want to be stuck being able to make trades or investments on your desktop computer only because the mobile experience is poor. If an exchange wants to be popular in the future, when more and more people will be using mobile devices for everything, they need to offer a mobile experience as good as or better than their desktop.
Supports Multiple Payment Options
Having a user-friendly platform is all about providing as many people as possible with a possibility to use it without issues. One feature that can go a long way in increasing the user-friendliness of a platform is to offer a variety of different payment options. Unfortunately, many current exchanges out there only offer a single payment option and if that doesn’t work for you, you simply won’t be able to use their platform. Common payment options include credit card, debit card, bank account, and even PayPal.
If user-friendliness is a large priority, an exchange should offer all of these to their users. The more ways there is to fund your account on a particular exchange, the more people are likely to use it. Not only that, but it keeps things incredibly simple and doesn’t force people to use a single method if that’s not something they’re comfortable with.
A Simple and Clear User Interface
Of course, arguably the most important feature and part of a user-friendly platform is a simple user interface. The interface within the platform should be clean and clear. It should be easy to maneuver from page to page and it shouldn’t ever be confusing to find a particular feature or option.
While information is good, especially in a crypto app, make sure pages and overloaded with data, as a cluttered design can lead to confusion. If someone wants to find out where to withdraw funds or where to go see the historical performance of a certain asset, they should be able to find it in seconds. If not, and the platform is too complex, users are likely to go elsewhere. Crypto investing can be complex to some, but there is no reason your interface has to be.
Offer Multiple Trading Pairs
While many crypto exchanges and platforms allow you to purchase cryptocurrency with fiat currency like USD, some also allow you to purchase crypto with another crypto. This type of trade is described by the term “trading pairs”. For example, if you see BTC/ETH or ETH/BTC, these trading pairs allow you to directly exchange Bitcoin for Ethereum and vice versa. As you could imagine, this has the potential to simplify the investment process for many people as they don’t need to make several different trades to really only do one thing.
Unfortunately, many exchanges only offer a very limited amount of trading pairs, most often Bitcoin and Ethereum. While this may be enough for some people, there are plenty of people who want other altcoin trading pairs. Once again, the more trading pairs that are offered, the easier it will be for people to complete their desired investment quickly and easily.
Offer More Than Just an Exchange
While the primary goal of many platforms is to act as an exchange, that is the only function people use them for. Many people will go onto these platforms to check prices, check historical performance, see advanced reports or check out recent transactions. Having all of these types of features built into your platform can save users a lot of time, and thus, make your platform more user-friendly.
If a platform doesn’t offer these features, it will force the user to go elsewhere to see historical Bitcoin pricing or the other things mentioned. Being a user-friendly platform is all about saving people time and making life easier for them, and these small quality-of-life features can do just that.
In conclusion, we hope this article has helped you to learn some of the various features that go into making a Bitcoin trading platform user-friendly. Of course, be sure to always do your own independent research before deciding which cryptocurrency exchange to use.