Don't Stop Me Now! Exploring Challenges of First-Time Cryptocurrency Users

Abstract

Cryptocurrencies have increasingly gained interest in practice and research alike. Current research in the HCI community predominantly focuses on understanding the behavior of existing cryptocurrency users. Little attention has been given to early users and the challenges they encounter. However, understanding how interfaces of cryptocurrency systems support, impede, or even prevent adoption through new users is essential to develop better, more inclusive solutions. To close this gap, we conducted a user study (n=34) exploring challenges first-time cryptocurrency users face. Our analysis reveals that even popular wallets are not designed for novice users' needs, stopping them when they would be ready to engage with the technology. We identify multiple challenges ranging from general user interface issues to finance and cryptocurrency-specific ones. We argue that these challenges can and should be addressed by the HCI community and present implications for building better cryptocurrency systems for novice users.