CoinFlip - Behavioral Science Research

CoinFlip

Making People Comfortable Using an ATM to Trade Bitcoins

CoinFlip, a cryptocurrency ATM provider, allows users to buy or sell Bitcoin and eight other cryptocurrencies at any of its 2,200 ATMs across 47 states. Gaining recognition as the world’s leading Bitcoin ATM (BATM) operator, the Chicago-based company is rapidly expanding their product offerings and is increasing the public’s access to cryptocurrencies.

Improving Interface Design for a Better User Experience

  • Edie Cao
    Edie Cao
    AUTHOR
  • JoAnne Tobias
    JoAnne Tobias
    CONTRIBUTOR

Client:

CoinFlip, a cryptocurrency ATM provider, allows users to buy or sell Bitcoin and eight other cryptocurrencies at any of its 2,200 ATMs across 47 states. Gaining recognition as the world’s leading Bitcoin ATM (BATM) operator, the Chicago-based company is rapidly expanding their product offerings and is increasing the public’s access to cryptocurrencies.

Challenge:

Even though cryptocurrency is on everyone’s lips, the concept is still new enough to be intimidating. CoinFlip came to us because they needed to understand the needs of their various audiences and make their BATM’s UI as intuitive and accessible as possible.

They had a sense that their current UI was suboptimal, but had never conducted primary research on their users or their needs.

Process:

We conducted two phases of research:

  1. field research to gain insight around the BATM experience and
  2. usability testing on an updated UI prototype to validate the initial insights and make final recommendations.

Field Research:

One part contextual inquiry and one part Behavioral Science & UX assessment

We went to 4 high-traffic locations around the San Francisco Bay Area and interviewed new CoinFlip users, existing CoinFlip customers, and store employees.

Usability Testing:

Perspectives from both new and experienced CoinFlippers

We conducted moderated usability tests with existing CoinFlip customers who had participated in our field research, as well as with people with no prior knowledge of CoinFlip. We presented all individuals with the updated UI, and asked them to complete two different user flows: one to purchase under $900 worth of Bitcoin, and another to purchase over $900 worth of Bitcoin. Our intention was to ensure that each tier of the transaction was complete with clear instructions and imagery.

coin flip old interface
coin flip new updated interface

Results:

Who are their users?

From the insights gleaned from CoinFlip and in a prior joint research project, CoinFlip believed that their user base existed on a spectrum varying on crypto savviness. From the field research, we revised that framework to a spectrum of simple to complex decision-making. We also expanded on the framework to a perpendicular spectrum of private to interactive decision-making.

Key BATM UI Takeaways: Enhance Trust and Increase Accessibility

CoinFlip is known for their excellent customer service so we recommended that they make their customer service number very prominent. Making this offer of human help more salient increased trust, as did changing the error language.

Instead of using dry, intimidating language, we recommended language that was easy to understand and act on. Enabling popular language options increased accessibility.

Final Outcome:

Our research helped CoinFlip create a UI that would increase accessibility for the crypto savvy and the newbies alike, enhance usability, and meet the needs of people engaging in this newly emerging financial technology.

CoinFlip immediately applied our recommendations and now offers a Bitcoin ATM interface that is well-designed, user friendly, and intuitive. A recent article by Built in Chi lauded its rapid growth and praised CoinFlip for offering a simple user experience.