Why great mobile experiences are critical for cryptocurrency trading
Over half the world’s internet traffic is through mobile phones. In developing economies, it’s even higher. Never has the mobile trading experience been so important. Your smartphone lets you move with the market, trading on your morning commute or in the airport lounge.
But another reason why mobile experiences are so important is liquidity. Without it, you’ll struggle to trade at prices that reflect the market. “With great mobile experiences, comes great liquidity,” said no superhero ever, but it’s a solid assessment of the cryptocurrency market.
Liquidity relies on attracting people with tokens to trade and providing a safe platform through which to exchange those tokens. We’ve made great progress building the platform, but how can we make sure our mobile experience is the best it can be?
A great mobile experience is more than giving you the freedom to trade wherever you go. It should also be social, inclusive, and ready when you are — an intuitive experience that reacts to your psychology just as well as each tap or swipe.
Mobile sites and native apps: frustration on-the-go?
Have you ever ditched a business for a poor mobile experience? Perhaps not, but you probably seethed a little. Mobile support is pretty commonplace these days, but its execution is far from perfect.
Mobile sites are often obscenely clunky. You need to zoom in and out, tap and hold to navigate the screen, or smush your thumb against tiny menus. You spend half your time squinting and the other half finding the right buttons to press.
Native apps do better, but are often abandoned by devs with tight budgets or heavy workloads. Besides, they add yet another layer of complexity — requiring a download — and hog storage space on your phone.
In short, some mobile experiences are a pain in the butt. And it’s inexcusable, really. Over a third of the world’s population uses a smartphone, and by 2021 this is predicted to rise to 40%. That’s almost 3 billion people. Or should I say, 3 billion customers (or potential crypto traders).
You don’t need an economics degree to read the numbers: people do more on their smartphones than ever before, and in large, emerging markets, smartphones are the primary (perhaps only) route to cryptocurrency trading. The mobile experience is therefore pivotal to giving everyone access to trade how they want, when they want, and where they want.
Progressive apps for the win
Before working on our Plasma DEX, our CEO, Andrew Gazdecki, was the founder of Bizness Apps. They specialize in building progressive web applications (PWAs) that replicate the design and functionality of native apps right inside your web browser.
At its peak, Bizness Apps was building 5% of all the apps downloaded from the App Store — more than any other company in the world, so Andrew knows his stuff. The PWA model we’ve chosen therefore gives you a number of important benefits:
- You don’t have to download or install anything
Downloading and installing apps takes time, and uses up valuable phone space. It also puts an extra step between you and your trade, which could potentially lose you money.
- You use less data than a native app
PWAs optimize data and use caches wherever possible, saving data. This is especially useful for developing countries where signals are weak or data expensive.
- The app is always up-to-date
You load the most recent version of the app every time you open it. No frustrating waits or additional downloads.
- You can access everything you need instantly
You can add our PWA to your home screen, and it loads just as quickly as a native app.
- It works on all devices
Our PWA loads on iOS, Android, or any other OS you use.
Recently, we improved the speed and navigation of the mobile app, added buy and sell orders, and a user activity stream so you can follow your favorite traders. Your mobile experience is now super fast, accessible from any device, and from anywhere in the world, so you’ll never miss a trading opportunity once it goes live.
A great mobile experience won’t increase liquidity alone, but it will create the conditions for it to grow. With a market of over 3 billion people, it could grow very quickly indeed.
Why great mobile experiences are critical for crypto trading was originally published in Altcoin.io Exchange on Medium, where people are continuing the conversation by highlighting and responding to this story.
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