Poor User Experience

Note: Data in this section last updated September 12th, 2022

One common criticism of Web3 is that the user experience pales in comparison to Web 2.0.

This is understandable, as Web3 transactions are quite different than what we’re used to and can seem rather complicated at first glance. For instance, in order to buy an NFT, a user needs to:

1. Register on a centralized exchange, such as Coinbase or Binance

2. Provide KYC information such as a passport photo, driver’s license and / or utility bill to confirm their identity

3. Use the centralized exchange to purchase Ethereum

4. Set up a wallet via Metamask

5. Transfer their Ethereum to their Metamask wallet

6. Go to OpenSea or LooksRare and connect their wallet

7. Search for an NFT they like

8. Click to purchase it

9. Approve the gas fees and sign the transaction

I’ll admit, when I first tried buying NFTs I was definitely nervous navigating all these steps.

But once I did it, I realized how simple it was. In fact, once you’re used to it, navigating Web3 is much easier than navigating the traditional web because:

• You don’t need passwords – once you have a wallet setup it can connect to any site

• The checkout process is simple as you don’t need to input a credit card, check for fraud, etc..

That said, more work needs to be done to either educate the public or streamline the onboarding experience.