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Title:Toward Understanding the Use of Centralized Exchanges for Decentralized Cryptocurrency
Author(s):Zhou, Zhixuan; Shen, Bohui
Subject(s):Blockchain
Cryptocurrency Exchange
User Experience
Security
Abstract:Cryptocurrency has been extensively studied as a decentralized financial technology built on blockchain. However, there is a lack of understanding of user experience with cryptocurrency exchanges, the main means for novice users to interact with cryptocurrency. We conduct a qualitative study to provide a panoramic view of user experience and security perception of exchanges. All 15 Chinese participants mainly use centralized exchanges (CEX) instead of decentralized exchanges (DEX) to trade decentralized cryptocurrency, which is paradoxical. A closer examination reveals that CEXes provide better usability and charge lower transaction fee than DEXes. Country-specific security perceptions are observed. Though DEXes provide better anonymity and privacy protection, and are free of governmental regulation, these are not necessary features for many participants. Based on the findings, we propose design implications to make cryptocurrency trading more decentralized.
Issue Date:2022
Publisher:International Conference on Applied Human Factors and Ergonomics
Citation Info:Zhixuan Zhou and Bohui Shen.Toward Understanding the Use of Centralized Exchanges for Decentralized Cryptocurrency. In 13th International Conference on Applied Human Factors and Ergonomics (AHFE). 2022.
Genre:Conference Paper / Presentation
Type:Text
Language:English
URI:http://hdl.handle.net/2142/113687
Date Available in IDEALS:2022-04-09


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