No surprise, users are constantly seeking platforms that offer not only competitive rates but also transparency and reliability. At Swapzone, we recognize the pivotal role transparency plays in fostering trust and empowering users to make informed decisions.
In our quest to become not just recognizable but indispensable in the realm of cryptocurrency exchange platforms, we embarked on a transformative journey to overhaul our website and enhance transparency at every step. Join us as we delve into the details of our website overhaul, aimed at empowering users to make informed cryptocurrency exchange decisions.
Table of contents
Brainstorm
At the end of 2023, we set a goal for the project to become recognizable and indispensable. To achieve this, we thoroughly examined all processes within the Swapzone and identified areas for improvement at each step.
Specifically, we delved into the customer journey, points of interaction with our product, and growth zones within these points. In this article, we will focus on the product work on the website and how we make our site transparent. On this matter, this is the summary of our thoughts. Talking about your needs, we asked ourselves questions and realized answers:
Q: Why do customers visit our website?
A: To compare offerings and choose the best one.
Q: Is the best one determined solely by price?
A: No, customers may have their own criteria.
Q: What criteria do customers want to see to make a decision about an exchange?
After considering various scenarios, we concluded that depending on the currency pair, exchange amount, and specific exchange situation, customers may opt for:
- The fastest exchange service when time is of the essence.
- The most customer-oriented exchange service when anticipating potential exchange issues.
- The most reliable/strict regarding security and AML procedures.
- The most precise exchange service when minimal deviation from the exchange rate is crucial.
Additionally, we realized that we have access to even more data, than a review platform. For example, we know, how instant exchange services handle issues, i.e. refunds, long exchange process, or other problems. This aspect seemed particularly noteworthy because by having access to various cases, as seen on review platforms, we can gain a wide understanding of how exchange services work in general. Moreover, only our support team can gather all range of cases — and provide a complete assessment of such a parameter.
Departments Involved
Swapzone made big changes to be better. Of course, this was a collaborative effort across the entire team to ensure a more user-oriented platform upgrade.
Business Development
The business development team gathered cases related to our data. These cases complement raw data and enable us to consider the behavior of exchange services in disputed cases. Furthermore, we could base our evaluations not on vague formulations provided in their policies but on actual data.
For example, the instant exchange stated in its documentation that an issue would be resolved within 1 to 20 business days. In reality, we observed that it took not even a day but just a few hours. The legal department had crafted a cautious formulation, yet the exchange service performed even better than claimed.
Design
We made sure to gather all the necessary references and sketches to create clear layouts. Now, we’re ready to share the first designs we came up with. These initial layouts set the stage for our website’s transformation, reflecting our dedication to user-friendly and visually appealing designs.
We thought, this would be a great idea to have something, that resembles a spaceship control panel. So, we added speedometers, the circular diagrams. We didn’t go too deep into this, but the main idea stayed the same—you can control your exchange easily and choose your service however you like with the galactic vibe, and probably experiencing the light-speed process.
Product Management
After defining evaluation parameters, the product team gathered statistics on all exchange services and determined threshold values for each evaluation. By collecting the data, we got the interesting insights at this stage: ratings, even though they are counted the same, have the different sampling to be based on.
Depending on the number of exchanges, each rating will differ in its weight. Roughly speaking, a rating of 4.5 with 400 exchanges per day and 4.9 with 40 exchanges per day are perceived very differently by users—and rightly so! Therefore, we decided to share information on the number of exchanges processed by each exchange service in the previous week.
Bottom Line
Swapzone remains steadfast in our commitment to transparency, user empowerment, and continuous improvement. As we detail our journey towards enhancing transparency on our platform, we look forward to what lies ahead. Our next steps involve further facilitating the comparison of exchange services, ensuring users have the necessary tools to make informed decisions tailored to their preferences and needs.
Additionally, we recognize the importance of providing comprehensive information on security measures and refund processes. By addressing these aspects, we aim to instill greater confidence and trust in our platform, thereby enhancing the overall user experience. Explore our exchange service comparison feature http://swapzone.io/compare. At Swapzone, our journey towards transparency and excellence is ongoing. We invite our users to join us as we continue to evolve, innovate, and strive towards our shared vision of a more accessible and trustworthy cryptocurrency exchange ecosystem.