18 Aug 2021 · 2 min read

Crypto Novices Learn Quickly Through Gamification

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Crypto

A variety of subtle and obvious design details have been pushing app-based trading toward a more gamified experience. Platforms like eToro, League of Traders, and Zignaly have incorporated features like visualized portfolios, leaderboards, and top-trader profiles. These in-app features present an experience that leverages the encouragement and social rewards associated with online gaming in a space focused on cryptocurrency trading.

The visualized crypto portfolios on each platform offers a quick-glance view of your cryptocurrency assets. These profiles are similar in look and feel to how a video game might showcase a character’s strength and prowess in a variety of skills. The League of Trader’s profile for example includes a simple to understand growth chart, token distribution pie charts and an overview of current picks. League of Traders also includes a volatility risk assessment, providing a sneak peek into the amount of risk associated with the account’s recent trading behavior.

These profiles can be outward facing on many of these platforms, providing a public view into a trader’s assets and trading strategies. This is especially useful on the League of Traders platform, which organizes users on a variety of leaderboards. Just as many online games highlight the best players, these leaderboards compare users across the app. The leaderboards rank players based on their overall portfolio growth on the app, providing a glimpse into how the top traders on the platforms structure their crypto portfolios.

Regular trading competitions are another prominent feature that enable traders to battle for prizes based on their portfolio growth. League of Traders for example holds competitions once to twice a month, during which traders often have 21 days to grow their portfolio and rise to the top. These competitions include prize pools that can be as high as 200K USD with as many as the top ten traders earning prizes. League of Traders competitions have seen the top competitors gaining as much as 300% in crypto value during these three-week competitions.

For professionals and experienced traders, the recent crypto boom has accentuated their skills and platforms like League of Traders have provided a way to showcase their strategies and portfolio strength to a broad audience. The gamification of trading has made cryptocurrency trading feel less intimidating for novices, and the competitive aspect facilitates a community among traders that celebrates the achievements of top performers.