What is User Experience (UX)?

User experience (UX) describes how an end-user experiences a product or service. While subjective, UX generally refers to product simplicity, ease of use, efficiency, or a user's overall impression. In a business context, a better UX may correlate with increased customer satisfaction, retention, and growth; UX is commonly discussed with digital products such as software, websites, and video games. In the blockchain space, many consider the UX of crypto exchanges and crypto wallets to be greatly improved, while also pointing out that the UX may have a way to go to be on par with certain legacy financial systems.