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Product Management Improvement Question: Enhance Indodax trading platform for advanced cryptocurrency traders
Image of author vinay

Vinay

Updated Nov 30, 2024

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What features could be added to Indodax's trading platform to attract more advanced traders?

Product Improvement Medium Member-only
Feature Prioritization User Segmentation Technical Analysis Cryptocurrency Fintech Trading Platforms
User Experience Product Improvement Fintech Cryptocurrency Exchange Trading Features

Introduction

To attract more advanced traders to Indodax's trading platform, we need to identify and implement features that cater to their sophisticated needs while maintaining the platform's core functionality. I'll approach this challenge by first understanding our target users, analyzing their pain points, and then proposing and evaluating solutions that could significantly enhance their trading experience.

Step 1

Clarifying Questions (5 mins)

  • Looking at Indodax's position in the market, I'm curious about its current user base composition. Could you provide insights into the ratio of advanced traders to novice users on the platform?

Why it matters: This helps us understand the potential impact and adoption rate of new advanced features. Expected answer: Advanced traders make up about 20-30% of the user base. Impact on approach: A lower percentage would suggest a need for gradual feature rollout with extensive education.

  • Considering the competitive landscape, I'm wondering about Indodax's unique value proposition. What sets Indodax apart from other cryptocurrency trading platforms in the region?

Why it matters: This helps us align new features with Indodax's core strengths and brand identity. Expected answer: Indodax has a strong focus on the Indonesian market with local payment integrations. Impact on approach: We'd prioritize features that leverage local market knowledge and integrations.

  • Thinking about advanced trader behavior, I'm interested in understanding their current pain points. What are the top 3 feature requests or complaints from advanced traders on Indodax?

Why it matters: This directly informs our feature prioritization and development focus. Expected answer: Advanced traders want more sophisticated charting tools, faster order execution, and better API access. Impact on approach: We'd focus on these areas for immediate improvement and expansion.

  • Considering Indodax's product roadmap, I'm curious about any upcoming major platform changes or upgrades. Are there any significant infrastructure or architecture updates planned in the near future?

Why it matters: This helps us align new feature development with planned technical improvements. Expected answer: A major backend overhaul is planned for Q3 to improve scalability and performance. Impact on approach: We'd design new features to take advantage of the improved infrastructure.

Tip

At this point, I'd like to take a 1-minute break to organize my thoughts before diving into the next step.

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