It is a well-known fact that holding your funds on a cryptocurrency exchange is not the safest option but offers cash liquidity and that is exactly what you need when trading.
I’ll explain in this article how you can protect yourself using various methods available.
I’ll explain in this article how you can protect yourself using various methods available. Remember, however, that not all of these mechanisms are available on every cryptocurrency exchange software.
A. Sign Up should be a Task of Few Taps
Subscriptions should be simple. A lot of users get irritated by filling out a long registration form, which is now a standard in every digital assets exchange. This could affect the trading platform’s initial retention rate. Let your users input the app, and then you can collect the information you need to enhance the user experience.
Here are just a few tips and examples for mastering page design: UX’s thumb rule says’ More choices, more problems.’ So make it easy for users to get started using the app. Cryptocurrency exchange software are obliged by their local laws and respective national regulators of financial services and products to obtain some of your personal information.
This information includes, but is not limited to, your full name, address, phone number (mobile and/or landline) and country of residence. On top of that, most bitcoin exchanges require you to fill in your date of birth, which is part of the identity verification process.
If your app is responsive to gender or age, avoid asking the users about it when they sign up. When handling their profiles they will change this information later on.
Just like their social media accounts, always offer the users an option to sign-in emails. There are at least 5 social media accounts open to an average Internet user. To simplify the email validation process, let your users sign up via their social media accounts.
You will give them more faith about the value of the product by showing the customer reviews before the user signs up for your app.
B. Use Email as Alternate to Username
It is hard to remember a username with a mix of random numbers. That is why it is a good idea just to let the users in through their email address and password.
Logging in via email also has a security benefit for most white label crypto currency exchange software. The username is available to all when using a device. This may be a bonus to those with prying eyes on a user’s account and could result into malicious activities, including illegitimate fund transfer. On the other hand, email addresses without a user’s permission are not available to others. And most of the time there are various addresses exchanged and emails used for sign in.
C. Use Mobile Number and OTP to Login
Anyone can relate to the trouble of remembering complex passwords. Gofor mobile number and OTP for login to get your users out of this problem. The benefit here is that everytime a new password is generated which could mitigate the overall risk of password leak.
D. Offer Option to Login to Another Account
If your app has an automatic login option, just as you do with Facebook (one-tap login or a 4-digit passcode), then give them an option to sign in to another account.
E. Facilitate Password Resetting on Login Screen
We use a number of passwords, from unlocking your smartphone to securing multiple accounts, and remember them. Hence, considering that if a user logs into an account after a long time, they may not remember the password, is quite obvious. So, give your users the option on the sign-in screen to reset the password, right there.
F. Use 2 Factor Authenticator Login
Two-factor authentication (2FA) is an essential online security measure that most crypto exchanges would provide. It is a One-Time Password (OTP) generated by a hardware token device or software token application, or sent via a Short Message Service (SMS) to your mobile device.
2FA is done by Google Authenticator. where you login, go to your “Account” page and look for “2 Factor Authentication” on the menu.
It shows a QR code for you to scan with your mobile device camera and install Google Authenticator.
G. Allow Users to View Password
Passwords are usually a mixture of alphabets, numbers, and special characters. When signing in passwords, it is likely that your users will enter an incorrect password and therefore have to give the sign-in process one more try. To escape this problem, before signing in, give users an option to view the password.
H. Keep Users Logged in
There’s no one-size-fits-all solution when it comes to keeping users logged in and it depends on the type of app on offer. If it’s not a banking app or something similar that stores sensitive user information then it might be an option to keep users logged in. Given that generally mobile users are on the go and with very little time or attention, it is very convenient not to be signed out every time a user turns off a device.
Instead, just keep them logged in for as long as they like. For an extra layer of security, while maintaining things fast and running smooth, consider adding some of these features given here.
Use smartphone features like the fingerprint scanner, or facial recognition, to speed up the authentication process
- Allow users to see all the devices where they are logged in
- Offer remote session termination
- Suggest a password change every few months
Require passwords to have at least eight characters, one uppercase letter, one number and one symbol
The smartphone sign-in and sign-up screen–we love it, we hate it and we certainly love to hate it. When done correctly in a white label cryptocurrency exchange software, this could trigger a massive retention of users. It can have the exact opposite effect when done poorly.
Yet, the sign-up screen is poorly designed in most exchanges more often than anyone would love to admit.
But what does it actually mean’ getting the right sign-up screen done?’ How are we to tame the wild beast? We tame it by implementing best UX practices and using the right techniques for research and optimization. Therefore, you’ll put a saddle on the back of this beast and ride it up to the top of the app charts.
By following these best practices, you can start building an amazing user experience right from the first screen, which will do wonders for user retention for your whitelabel cryptocurrency exchange, as well.
3 METHODS TO TURN YOUR IDEAS INTO REALITY – WHERE DOES SERENDIPITY ENTER YOUR BUSINESS? https://t.co/1V8KWJG9Yk— Ask Paccosi (@AskPaccosi) July 19, 2020