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Cryptocurrency is an already volatile industry, which means that it’s very risky and complicated to invest in it. Growing your cryptocurrency through investing is even more so, with the plethora of crypto scams that exist currently. Furthermore, more and more people are interested in seeing new ways in which digital currency can be used in ways that are more available and safe in our day-to-day lives.
This project began broadly: find a way that allows people to interact with and invest in decentralized currency without many of the risks currently associated with it.
Narrowing my scope was important to hit the pain points with more precision. This meant going out and doing research as well as interviews with ten people who are either interested or involved in the cryptocurrency space as investors. I made a particular point to ask questions about any hesitations that did or had existed that kept them from investing in certain ways as well as their usual habits with digital currency currently. In doing so, I found that despite cryptocurrency being one of the fastest-growing markets in the past decade, there are still a lot of apprehensions– particularly with investments made in the newly budding web3 and NFT spaces.
With this information, the direction of the product would become clear, in part inspired by the surprising volatility of cryptocurrency investing options.
Instead of looking for a new way in which people could invest their money, it was found that looking towards tradition was the better step to take. Many of the people interviewed mentioned that they also traded stocks with fiat currencies, which narrowed down my focus towards marrying the traditional and familiar investment form of stock trading with crypto.