Wyre Transak. See UX on Argent and Rainbow wallet.
Transak is to support bank transfer and Apple Pay in the coming months (Nov / Dec 2021). Transak does not support purchasing ONE using USD or any US-based payment methods at this time, but this will change in the coming weeks once legal issues are resolved.
Wyre does not support purchasing ONE at this time. It is possible to purchase ETH then swap into ONE via bridge. However, the process is more complex and costly.
Purchasing ONE directly from 1wallet is available for developers at a custom branch https://github.com/polymorpher/one-wallet/tree/fiat . General release to 1wallet.crazy.one will be provided as soon as live tests are complete. The progress is tracked here:
can we integrate transak as fiat gateway · Issue #155 · polymorpher/one-wallet
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Quick & Dirty Wallets S.W.OT
🌈 #1 Rainbow Rainbow is a fun, simple, and secure Ethereum wallet that makes managing your assets a joy.
- Apple pay incorporation which makes it extremely convenient
- Smooth import process from other ETH wallets like MetaMask
- Account setup time is very little which helps new users onboard easily
- A great wallet for NFTs
- great designing team produced a good user interface which caters to different personas
- Has a built in uniswap which is a leading decentralized exchange
- ARainbow is an open source code which allows for a safety net to its users that it wont vanish suddenly like a few others did in the past
- Ability to add different wallet addresses within the same account
- Integration of WalletConnect for web3 access is helpful
- Allows the user to backup encrypted private key to iCloud
- Lack of dark mode might result in eye strain for users that indulge in trading daily
- No support android yet
- Lacks proper documentation on security protocol which could be a major concern
- Being an ETH wallet, the gas fees are usually high although that is not in their control
- Lack of active support team is a major drawback
- Does not support Visa cards which is a big issue amongst visa users
- The application does not support trading/selling, its not really a negative aspect but something alot of the users get confused about
- Error messages during transactions might be a deal breaker
- Does not work for users in New York state as its not legal there
- User has to remember seed recovery while other wallets allow social recovery as well
🔐 #2 Argent Argent Vault is simple and secure wallet for Ethereum & DeFi. Exchange, earn interest & invest - all in a tap.
- Allows the user to set daily transfer limits for security purposes
- Multi layer security protocol which other wallets don't offer
- Supports hard wallets as well which is a plus point
- Compatible with both ios and android devices
- Constant updates by development teams helps to improve the product
- Great number of defi products available within the platform
- Webconnect integration is very helpful
- UX design is very clean, sleek and thoughtful, clearly head & shoulders above others
- Working on cheap gas fees and launching layer 2 to provide easy, smooth transactional process for all mobile users
- Non custodial, argent doesnt store user's keys or personal info on their servers rather this
- information is encrypted and stored in your device
- No integration of cloud storage
- Supports only ethereum token thus not an all in one crypto wallet
- It is not browser based thus only apps are supported
- High fees when using credit card for the inbuilt tool
- Identity verification process is a little too extensive specially mid transaction (their payment partner moonpay handles it)
- User can add through moonpay but cant withdraw from the same channel, they have to transfer it to an exchange to withdraw
- There is an upfront network fee to pay when first creating a wallet. This is not required by other cryptocurrency wallets
- Not feasible for small inverters or beginners infact it is only for large amounts due to their high gas fees (thought they dont profit from it)
- Occasionallly transactional completion time could be a little too much but that is due to the 3rd party payment system
- No flexible option for users to decide themselves whether they want to pay high gas fees for never failing transaction or less fees but occasional transaction failing hiccup
🦊 #3 MetaMask Metamask is a crypto wallet- it allows you to store and transact Ethereum or any other Ethereum-based (ERC- 20) tokens.
- They have a mobile app for both ios and android
- -Metamask is open source platform
- Links directly to two exchanges coinbase and Shafeshift to buy crypto currency
- Uses hierarchical deterministic settings that assist users to back up their accounts
- Intuitive user interface thus very helpful in user onboarding process
- Instructional and tutorial video content available
- Most functional web3 wallets
- They are light platforms which do not have to he installed or downloaded or registered through web infact it supports a chrome extension
- Its free and easy to setup and use, requiring just email and a mobile number, no private key
- Only supports ERC-20 tokens which limits the growth and userbase
- More riskier than other cold storage or hardware wallets given its on browser
- The browsers do collect information when and how one uses the platform which is why privacy concerns are valid
- Customer support suggests to contact 3rd parties first in the case of lost recovery/account
- Is unable to detect a transaction sent under public address, tracking seems to be lacking basic blockchain concepts
- Lacks UX design maturity, cluttering everything into hamburger menu is highly unintuitive
- Syncing block chain requires time which is often the complaint, transactions are slower to be confirmed
- Prone to hacking as its browser based
- Higher gas fees than other wallets
- Daily and weekly limits can sometimes be frustrating even though its dependent on 3rd parties (WYRE)
💰#4 Venmo Venmo is a digital wallet and payment gateway that allows customers to make payments and transfer money via mobile device
Strengths: It has a social media vibe whereby you can see activities of your friends
- Users have social profile integraion so the sender can be satisfied that they are sending it to the right person
- QR code scans are always a plus and makes the process easier, tackles any user journey bottlenecks
- Customer service is a major strength which is available by chat as well
- Can link any bank account to venmo easily
- No fees for transferring money from bank or debit card
- Web browser based and supports both IOS and Android
- Easy, free user onboarding, takes barely a few minutes. Well thought out user experience
- A free venmo card is delivered to users address through mail
- Multiple mediums of notifying a user helps to avoid confusions regarding the status of the transaction
- International transactions are restricted
- Some usability issues like mandatory input fields are putting off during completing a transaction
- Transactions are irreversible which is somewhat a drawback
- Push notifications are sometimes ineffective which is why it becomes a hassle asking someone about the request one sends
- If you are really desperate for the money immediately, then you have to pay a small percentage as a fee
- Restricting the freedom of spending one's own money, adding verification of identity inorder to spend more of their own money
- Interest has to be paid about 3% on the use of credit card which is an obstacle
- Processing days for a transaction can be troublesome
- Violates usability heuristics with vague error messages causing users to be stuck
- Account gets frozen for repeated transactions quickly, which can only be unfrozen 5 days later
🧑🎤#5 Robinhood Robinhood is a US-based, zero-fee discount broker established in 2013. The company is regulated by top-tier financial authorities.
- Compatible with both apps (iOS and Android) plus web based browser
- Account opening is an easy and fully digitized process
- Trading US stocks and EFTs is free
- No withdrawal fees are charged
- New users do not have to deposit anything
- Cash management service helps to earn interest on uninvested cash
- High security protocols with two step verifications
- Great dashboard summary for a quick look
- intuitive where any new user can start trading without a hassle
- Customer support isn't that helpful and active
- Involvement in "centralized" control of order-flow have put off many users
- Region restriction as its only available in US
- Only allows bank transfer and no debit/credit cards
- Lacks analytical tools for their dashboards
- Restricting users to buy or sell certain stocks/crypto at certain moments is a huge red flag, which other platforms do not
- Lacks alerts where users can custom create alerts for certain currencies/stocks
🪙 #6 Coinbase Coinbase is a crypto wallet that can be utilized for purchasing, selling, transferring, as well as storing digital currency. It securely stores a wide range of digital assets in offline storage.
- Supports 100 countries which is a major plus point
- Has an app for both IOS and Android covering different user personas
- Intuitive UI which is really helpful for beginners
- After updates the slow load issues are rectified, development team listens to feedbacks
- Widely regarded as one of the safest crypto exchanges and storing platform
- Learn and Earn feature allows a significant sum for beginners to grasp the crypto world practically
- User onboarding is very easy and convenient, doesnt take more than 15-20 mins
- Offers valuable insights for the market trends, informational tools are greatly helpful
- Security for trading and deposits into the wallet
- Allows instant deposits into individual wallets
- Can convert 1 crypto into another for free -Good interest rates comparatively
- Putting an account on sudden review with all funds being locked
- High fees being charged when not using coinbase pro
- Less variety when it comes to altcoins
- Customer support is very vague, users dislike dealing with a chatbot
- Sometimes starting the app takes very long, high load times
- Not being notified when a certain amount is being hit of a coin
- Slow response to account review/inquiry, maybe upto 2 months in some cases
- App isnt as efficient as the website, a major drawback for those using a different device (laptop, desktop computers)
- No direct customer support page
🏦 #7 Sofi Sofi is a finance app for crypto trading, stock market investing, saving & budgeting.
- Is best for beginners and no requirement of minimum amount
- Bonus of $10 in bitcoin when user performs the first trade
- Zero active trading fees
- Access to Certified Financial Planners at no additional charge
- Commission free ETFs
- Free learning tools, live events, webinars etc
- Availability of customer support through phone
- No withdrawal fees
- Instant transfers from banks to trading account thus catering all banking needs creating a single hub that fulfills it all
- A reward system to keep the users engaged and high retention ratio
- Ui feels a little cluttered by ads and promotions
- Does not offer stop loss orders feature
- Not for experienced or advanced investors since they cater to the beginners without complex functionalities like tax loss harvesting
- Sofi invest app is accessible in US only
- No mutual funds
- Product portfolio is very limited since it hasn't been in the market for too long
- There are no demo accounts provided for learning purposes
- Account opening may take 1-3 days
- Chart load times are often more than acceptable
- Lacks a wallet for crypto currency
🔲 #8 Square Square (POS) is an app that gives you everything you need to take payments and run your business. Accept chip and PIN cards, contactless cards and mobile payments with a Square Reader.
- There are no monthly or annual fees
- Covers wide variety of payment methods
- Free POS app
- Incorporated both digital and non digital accepting of payments
- Rates are pretty much low and fixed, thus removes the element of unpredictability
- User interface is easy to work around and navigate
- Supports multiple devices across different operating systems
- Dashboard is one of their forte, helps provide great insights
- Storing card on file for repeat customers eliminates repetitive cycle of swiping cards
- Installment payments helps cater to a larger target market and scale the business up quickly
- Larger businesses might suffer more due to flat rate pricing
- Contactless payments are sometimes a hassle to work with
- Constant updates that ruin the experience of the already established/retained user
- There should be a regressive rate system where massive businesses dont have to scarifice that much for a flat rate
- Bugs and errors causing to reject transactions, long waiting times, inability to update data of stocks often
- Customer support is very hard to reach out to
- Verification system prone to errors
- Unilateral decision to hold funds if Square deems it risky, difficult for small businesses
- Lack of advanced analytics
- Extra 1.5% quick deposit fee is a bummer .
⚡️#9 Electrum The Electrum wallet is a simple, easy-to-use Bitcoin wallet. It was released in November of 2011. This makes it one of the oldest Bitcoin wallets available
- One of the most trusted wallet since it has been existing since 2011
- Supports hardware wallets
- Full encryption of user's key stored in their device
- Electrum servers are decentralised
- Electrum is an open source platform
- Supports hardware wallet integration with Ledger nano S, Trezor etc
- Fast and easy to onboard given the user doesnt have to download the whole bitcoin blockchain
- Allows wallet QR codes to be scanned easily
- Clear & precise error message when a transaction fails (in line with heuristic laws)
- Ability to accelerate transactions which others dont allow
- Theres no ios app released still only android
- Supports only bitcoin as its a bitcoin wallet
- Steep learning curve for beginner users thus difficult for financial navigation
- Its unregulated platform
- If you choose a segwit wallet instead of standard during setup, you may have problems receiving funds from most other wallets as they are incompatible
- Silently updating features which leads to the wallets being locked for certain period
- Problems being faced by a good chunk of users with restoring wallets
- Usability issues hampering the user experience, too many bottlenecks not being tackled quickly by the developers
- Transactional fees a little on the higher side
- Mobile app lacks interms of effectiveness and smooth ux while desktop web works better. Conflicting user experience
#10 Paxful wallet A simple and safe way to buy, sell, send, and store your Bitcoin.
Strengths: -Paxful charges 0% commission fees -Offers 300 payment options -Operates in many regions from US to South Asia to Russia, Africa etc -Extra layer of security protocol by ensuring two factor verifications -Fiat currencies are all available to trade with -One feature allows direct face to face meeting if user wants to buy bitcoin through cash -Privacy is ensured even to the extent of not needing to verify your ID and can remain anonymous through out -Escrow service incorporation allows extra layer of protection -They run an affiliate program which helps out small p2p players -Locked account can be easily accessed after resetting.
Weaknesses: -Banned in New York state -Sellers have to pay 1% fees on the platform -Customer support isnt as active, theres no live chat option -Anonymity could be a deterrent and potentially scary for users as they are unsure who they are dealing with -Lack of crypto currency beyond bitcoin is a major drawback -Paxful does not cater to traders rather its p2p -It lacks complex charts and analytical tools to help the user in decision making -Some fraud cases have damaged the reputation of Paxful -Unregulated exchange leading to risks -Handling/transfer fees to other wallets can be expensive sometimes
A. Complete the Landscape Analysis
B. Ideal Customer Profile
So what does the typical crypto ‘trader’ look like:
- 25–34 year olds, second highest group, 35–45
- Mostly Male, but female investors (currently at about 5.3%)are doubling every two months or so.
- Low-tech to high-tech individuals
- 20% of college students reported using student loans to purchase Bitcoin
- Over 62% of Community uses Google Chrome
- Just under 70% engage with Desktops more than any other device, Mobile is 28%, Tablet usage comprises the rest.
- 10,908 Nodes Currently Online
Cryptocurrency customer base worldwide 2020 | Statista
Cryptocurrency services in Europe and North America had relatively less retail clients than in other parts of the world in 2020. North American and European cryptocurrency firms such as trading or wallets mentioned that year that an average of 70 and 63 percent percent of their clients, respectively, were private individuals.
Millennial and Male: 3 Crypto Card Issuers Profile Their Average User - Fintech Bitcoin News
Platforms offering debit cards that can be topped up with cryptocurrency have enjoyed growing popularity in the crypto community. They provide a payment solution for those who earn and own digital coins, enabling in-store and online crypto payments.
The everyday crypto user is a highly educated millennial male, shows the analysis of the spending behavior of more than 10,000 customers. The majority of cryptocurrency spenders, 56%, are between 26 and 45 years old and 77% of them are male. The most common professions among them are lawyers, accountants, and economists (15.64%), followed by students (11.20%), operators and transporters (9.82%), and senior executives and businessmen (8.82%), the company detailed this week.
The study covers a period from April to December 2019 and 19 Eurozone countries where the crypto card is available. It’s mostly used at restaurants and hotels (32.71%), supermarkets and grocery stores (19.13%), and to pay communication bills (11.91%) and transport expenses (11.85%).
Crypto Audience Revealed: Who Is Your Target User?
In this article, we introduce some insights into exactly whom the crypto audience is made of in an attempt to help cryptocurrency businesses discover a little bit more about the customers they are attempting to attract to their website, and ultimately, their product.
As a quickly generated profile of all metrics presented in this article, the typical crypto user can be described as the following: a European male, between the ages of 25 and 34, who is interested in finances, investing and technology. He is relatively risky, not overly fearful of the volatile nature of cryptocurrency, while being tech-savvy enough to understand the basic mechanics of how crypto-related products and services work.
Therefore, when building a marketing strategy, designing a product, or creating advertisements, the following aspects should be highlighted in order to maximize the potential capture of the crypto demographic:
- A website design should be heavily focused on technology while making the most that HTML has to offer.
- Advertisements, including banner and other messages should be geared toward a male audience.
- Marketing should be oriented toward an audience of millenials.
- Top geo-targeted areas should include Europe, the USA, and Australia.
While the criteria for defining a crypto audience as discussed above may seem limiting, remember that there have still only been a total of 43 million Bitcoin addresses ever created; whereas well over a billion people fall into at least two of the aforementioned categories, meaning the potential market for a crypto business or service still remains largely untapped.
C. User Interface / Visual Research
Maybe we can have 3D wallet(or character using wallet)graphics for it as well
A good example of the crypto wallet include social utilities