OVERVIEW
Coinbase, a cryptocurrency platform, partnered with Polygon where I worked as a solo product designer on this project. I helped them acquire over 100K+ new and verified users.
PRACTICES
UX Research • Product Strategy • Product Design • Prototyping
TEAM
Product Designer • PM • 3 Engineers
MY ROLE
Product Designer
COMPANY
Coinbase • Polygon Technology • Dehidden
TIMELINE
12 Weeks
COINBASE WALLET
Coinbase is a government-regulated secured wallet where people hold, store, invest, and trade all digital assets like crypto tokens, and NFTs.
Low Market Share and High CAC
Coinbase is a secured wallet to hold, store, and trade all digital assets. After a soft launch in India, Coinbase attracted only 16K users. Since it was not a dominating market, the efforts to attract new users (CAC) were very high, and the solutions and experiences were not designed to cater to the Indian audience.
$16000
User
0.06%
Market Share
$12-$15
CAC
What did we do that helped Coinbase acquire 500K new users?
In 2022, with the increasing Web3 adoption in India, they wanted a dedicated experience catered to the Indian audience. They partnered with an Indian Web3 giant, Polygon Technology to work on these business problems.
My Efforts
My efforts were divided between conducting research and creating design solutions to address technical limitations during the development phase. Additionally, I played a key role in collaborating with various teams at Coinbase, gathering data insights, and securing stakeholder approvals.
Problems Identified at 2 Touchpoints
Solution to resolve KYC Wait Time Issue
Looking at the craze for having more NFTs, we provided NFT first in 3 simple steps by taking basic information and then asking to complete a customer verification process to secure the NFT. This solution gave them a reason to revisit the application and explore the rest of the application.
How did we make our solution scalable?
To ensure the NFT (images) remains decentralized and secured, we recognized that it couldn't be the fastest option, as verifying transactions and publishing them on the blockchain takes time. To address this, we improved the experience on a service level, where NFTs (images) were preloaded in wallets even before they were created. This made the entire process faster by 60%.
Why did we move from traditional loading animation to a beautifully designed loading animation?
Due to technical constraints, we were unable to reduce the wait time to less than 10 seconds before the launch date, which was supposed to be instant.
I proposed a workaround to create a more personalized animation, enhancing the user experience and making it more delightful. 3D team helped to convert my sketch to such an amazing animation.
My Design Explorations for Loading Animation
Feedback
This user experience caught site on Twitter. We received amazing feedback from Akshay, International Business Development Head of Solana Foundation.
