Bybit, the world’s third most popular exchange, is celebrating after winning an award at the prestigious International Forum (iF) Design Award 2023. The spot and derivatives exchange has claimed the iF Gold Trophy, a considerable feat for an application that contains so many user options, demanding masterful UX and intensive design spec.
Bybit Gets Gold
In late March, a total of 88 design experts convened to determine the greatest technology designers at the jury event in Berlin, Germany. The shortlist of finalists had already been whittled down from an initial 11,000 submissions, resulting in a final pool of just over 2,000 contestants.
In total, 75 of the finalists walked away with a coveted Gold award, with Bybit ranking among them. The iF Design Award has been running since 1954, honoring design achievements in product, packaging, communication and service design, architecture and interior design, as well as user interface (UI), user experience (UX), and professional concepts.
Bybit’s triumph marked the first time a crypto exchange had claimed the UX prize. Derek Wang, Bybit’s Senior Product Design Manager, said: “We are proud to have emerged as winners in this year’s cutthroat competition. This is a record year for us in elevating user journeys and our efforts were recognized by the gold standard of UX design that is the iF Awards.”
Twin Trading Features Acknowledged
Bybit ultimately scooped the top prize on account of two features that form a cornerstone of its app: copy trading and crypto strategy creation. The former enables Bybit users to emulate trades placed by professionals and tap into their market knowledge and experience. The latter, meanwhile, helps users create personalized trading strategies that suit their goals and risk profile.
It’s often said that good design is invisible, which is to say that the end user is unaware of its presence, such is its efficacy in guiding behavior. For those who are trained to identify outstanding design, however, there are clear characteristics that differentiate great design from indifferent.
Bybit’s app has been engineered from the ground up to maintain consistency and clarity. Particular care has been applied to font selection, icons, color palettes, and spacing, with the goal of aiding user navigation and comprehension.
“We want the Bybit experience to not only feel good, but also feel right,” enthused Derek Wang. “The platform should be intuitive, easy to use, and easy to love. We are in the business of supporting millisecond decisions in an information-rich environment, and people’s assets are at stake. As designers of interfaces and experiences, our job is to remove as much friction as possible and create a seamless end-to-end product journey capable of standing up to the scrutiny of even the most demanding user.”
This attention to detail has been validated in the form of the iF Gold Trophy. The awards ceremony took place on May 15 at the Friedrichstadt-Palast in Berlin. Having recently celebrated onboarding its 15 millionth user, the award is further evidence that Bybit’s star is very much in the ascendancy.
