BuyKobo p2p Platform

Description :

BuyKOBO is a cryptocurrency vendor that allows users to buy cryptotocurrency using FIAT in their local currencies via different payment methods. The purpose is to facilitate mainstream adoption of cryptocurrencies via an easy to use on-ramp for users to make the purchase.

Problem Statement:

Users are facing problems with whatsapp p2p exchanges which are not usually secure, comes with risk of fraud and payments are not usually on time. This leads to a frustrating experience for all parties involved and a drop-off in users trading cryptocurrencies. In addition, because of the volatile nature of cryptocurrencies, a delay in transaction can cause users to lose thousands if not hundreds of thousands of dollars if they are not able to execute the trade on time.

Solution:

The solution is to create an on-ramp for users to exchange their FIAT for cryptocurrencies. This on-ramp must solve every one of the problems currently encountered by users in the whatapp P2P model. The on-ramp should give users the opportunity to execute transactions on time, be easy to understand and use and most importantly, possess elements of regular on-ramps present in mainstream checkout screens like those seen on e-commerce platforms. This is necessary to reduce the learning curve for new users just getting into the crypto space so they can execute transactions and buy crypto in a familiar manner.

Empathy Mapping

Empathy Mapping revealed what the user DOES - tries out different platforms halfway because he's not sure how it works, FEELS frustrated because buying crypto seems too complicated, THINKS he's never going to buy crypto because he doesn't understand it and SAYS he will eventually buy when he figures it out one day.

Design Process

To properly set up the design, I approached the problem from a design thinking angle starting with ideation and ending wiht a prorotype of the application. As this is a short case study, the presentation is focused on the BUY section of the application.

User Persona

Mark is a 27 year old Maths teacher that heard about the crypto revolution from his more successful friend Richard who went all in on cryptocurrencies in 2016. He advised Mark to buy crypto whenever he can as it woul pay in the long run. Mark just got some bonus pay from work and he is looking to purchase some ethereum. He needs a platform to buy it from that won’t confuse him with all the complicated crypto terminologies.

Competitive Analysis

Competitive Analysis revealed that the closest competitors were Binance, kucoin, and Okex. The measurement criteria was across On-ramp, Summary, Speed, Tips, Payment Methods and Coin Varieties