Carleton University - School of Computer Science Honours Project
Winter 2022
The Usability of Mobile Cryptocurrency Wallets for First-Time Users
Erica Morgan
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ABSTRACT
Cryptocurrency is a hot topic in the media. Despite the general population being familiar with cryptocurrencies such as Bitcoin, few people have experience using a cryptocurrency wallet. Previous studies with desktop cryptocurrency wallets have shown that users find cryptocurrency less usable than familiar payment methods such as credit and debit cards, resulting in less trust. Furthermore, first-time users also struggle in developing new mental models different from those for conventional payment systems. Given that almost 50% of internet traffic is from mobile devices, mobile cryptocurrency wallets also need exploration. After receiving clearance from our Research Ethics Board, we will conduct a study to evaluate the usability of mobile cryptocurrency wallets. In our user study, we seek to determine the barriers faced by the general population in adopting cryptocurrency, and to propose ways to overcome these obstacles, resulting in better user experience. As more places begin to accept cryptocurrency as a form of payment, it is important that people are comfortable using cryptocurrency wallets, especially mobile cryptocurrency wallets, as they are the easiest to access. We recruited participants through social media platforms and invite them to complete an online survey, hosted by the online survey platform, Qualtrics. We were especially interested in participants who had no previous experience using cryptocurrency wallets, to understand barriers to adoption. The survey collected participant demographics (age, experience with technology, etc.), followed by presenting different cryptocurrency wallet designs and seeking participant feedback. Participants were asked to comment on their perception of privacy relating to cryptocurrency, and their level of confidence in successfully completing the processes used for registration, funding their wallet, and making purchases. Our analysis used statistical methods to compare different designs and explore whether participant demographics impact their perceptions.