Rave Trade
Simplifying and securing cryptocurrency trading for everyone.
Duration
May - Aug 2024
Role
Product Designer
Team
4 Engineers, 1 Designer, 1 PM
Overview
What did I do?
Rave (formerly KRAV) is a trading platform where users can bet on the price of Bitcoin or Ethereum using any altcoin. My goal was to make advanced trading tools feel simple, safe, and accessible — especially for new users.
As the sole designer, I did a full redesign of the platform from its beta version to V1 release (which is live!), and was able to increase the user base and secure $1.5M in funding from various backers.
overview
The problem…
KRAV’s beta launched 9 months ago and quickly drew in thousands of daily users; however, there were some issues needed to be tacked.
confusing information
inconsistent design
Too complex for beginners, too basic for experts
overview
Project goal
💼 company goals
Increase user retention
Boost trading volume
Increase revenue
👥 user goals
Simplify process
Make informed decisions
Customize experience
Research
User interviews
I interviewed 12 users with varying levels of trading experience to understand their experience with the beta version.
💡 Key insights
01
New traders found the app overwhelming and confusing to navigate
02
Professional traders felt that the platform lacked advanced analytics that are on other platforms such as Binance
03
Users faced high risk due to lack of understanding of leverage and trading mechanics
04
Users faced a lack of transparency regarding fees and security
Research
Target users
With the interview findings, I divided up the target audience into three stages of crypto familiarity:
New traders
regular traders
pro traders
goals & needs
goals & needs
goals & needs
Crypto curious
Make small, low-risk trades
Trades to build diverse portfolio
Uses platforms that offer reliable tools for consistent trading
Utilize advanced analytics and tools to maximize trading efficiency
Access to detailed market data
pain points
pain points
pain points
Overwhelming navigation
Confused with crypto jargons
Lacks understanding of leverage
Finds it hard to trust the platform due to lack of clear information on fees and security
Feels that the platform lacks advanced analytics and tools available on other platforms
research
Competitive analysis
I analyzed similar cryptocurrency trading platforms to learn from the industry's best practices and see how they achieve their user goals.
HOW MIGHT WE…
How might we reduce the complexity of making a trade and make the app more friendly and trustworthy especially for new traders?
ideation
Drafting solutions
❗️ PAIN POINT 1
Rave was over-indexing on advanced users' needs, leaving new users behind
To address the different needs for our target audiences, I decided to introduce different trading modes: Basic for new traders, Pro for regular traders, and Degen for professional high-risk traders.
I considered four placement options: on screen load, in the nav bar, on top of the trading widget, and in a dropdown. I chose the top of the trading widget so the mode choice is integrated into the main trading area, making it easy to find and change without adding clutter.
❗️ PAIN POINT 2
Users face risks due to insufficient understanding of leverage and trading mechanics
To improve risk awareness, I added collateral information to show users how much they have at stake before trading. I placed it below the market data rather than under the trading widget to provide better contextual awareness.
I included hover tooltips and a section dedicated to helpful links to further guide users on crypto jargon and key terms.
❗️ PAIN POINT 3
There is a lack of transparency and trust between users and the platform
To ensure extra security, users would be asked to go through 2 factor authentication after reviewing their transaction — balancing simplicity and friction for this step was key.
Disclaimers and fee indications were added to improve transparency.
The error messages and empty states were revised to eliminate unhelpful copywriting.
ideation
Style guide
Lots of elements in the beta version didn't meet accessibility standards, so I developed a new and consistent system that retains the brand's identity.
final solution
A glow up for Rave
Drag to see the before and after!
