10 Must-Have Features in Best Crypto-Swapping Apps
According to a study, the cryptocurrencies revenue value will hit the mark of 51.5 USD Billion by 2024.
In 2017, crypto users were counted as 30.45 Million and in 2024 it reached 833.70 Million with the 2737% growth rate in just 8 years.
But with this growing popularity comes a hidden danger: cryptocurrency scams and hacks.
Just like securing your online bank account or asset, keeping your crypto asset safe is crucial.
As you know cryptocurrency values are volatile and risky, so having the best crypto-swapping app is useful for users. From the app, they can swap the held currencies into their favorite cryptocurrencies or FIAT currencies to secure their investment value.
Imagine this: an iOS app for crypto swapping allows users to swap the Bitcoin into a Tether securely with just a few clicks. It’s very simple and easy to do.
But, as you’re looking to build a crypto-swapping app from scratch then you might need expertise and diverse knowledge about cryptocurrency regulations implemented by the governments while protecting the user’s data.
In this article, we will clarify the importance of secured crypto-swapping apps and when looking to develop the app then what features to consider highlighted here.
Why Security Matters in Crypto Swapping Apps?
Unlike cash in your wallet, cryptocurrency exists digitally. It’s stored in secure digital wallets that can be accessed through apps on your phone or computer. These crypto-swapping apps are incredibly convenient. They allow you to easily buy, sell, and trade different cryptocurrencies, all in one place.
Imagine you have some Bitcoin and want to buy Ethereum instead. With a crypto-swapping app, you can do this quickly and securely, without needing to use a complex exchange platform or solve extremely tough mathematical algorithms.
Just click and swap. As easy as that!
However, the convenience of these apps comes with a responsibility: keeping them secure. If someone hacks into your app or steals your login information, they could steal your valuable crypto! This could be devastating, as cryptocurrency transactions are often irreversible.
Here we clarify those 10 best features that make your cryptocurrency swapping mobile app perfect and useful.
10 Features to Look for in Every Cryptocurrency Swapping App
As cryptocurrency demand increasingly becomes popular the crypto swapping app is also growing. Look for these 10 features whenever you’re choosing the pre-built app or take the help of the app development company.
- Multi-Factor Authentication (MFA)
Multi-factor authentication (MFA) adds an extra layer of security to the login process by requiring users to provide two or more verification steps beyond just a username and password. This significantly reduces the risk of unauthorized access to user accounts and their valuable crypto holdings.
- Crypto Wallet Connect
Integrating a crypto wallet with a swapping app is a fundamental step for users to interact with the platform and manage their digital assets. Similar to how traditional finance relies on bank accounts for deposits and withdrawals, crypto wallets serve as secure repositories for cryptocurrency holdings.
These secure digital vaults store users’ private keys, essential for authorizing transactions on the blockchain network. Crypto swapping app’s in-built wallet connect streamlines the buying, selling, and trading of cryptocurrencies.
Read More: How to Transform Loyal Customers into Brand Advocates
- Better User Interface
Try to choose an app that has a better navigation menu for enhancing the user experience. As a result, users can find all the features they need to buy, sell, and manage their crypto assets, all without getting lost in a maze of complexity.
Thus, users can find the relevant services to their requirements without being too stuck or suffocated due to improper placements of buttons or forms. As a result, choosing an app UI/UX design service will help you get the best layout for crypto swapping.
With the compliance of good UI design principles, the app becomes user-friendly and better for swapping cryptocurrencies online. Most of the crypto-swapping apps are made using UI design principles that are based on proven practices and a set of guidelines.
- Regular Security Audits and Penetration Testing
Leading crypto-swapping apps undergo regular security audits conducted by independent security experts. These audits are comprehensive assessments designed to identify and address potential vulnerabilities in the app’s security posture.
In addition to security audits, penetration testing plays a vital role in strengthening an app’s security. Penetration testing simulates real-world hacking attempts, where ethical hackers attempt to exploit vulnerabilities in the app’s security defenses.
Choose a trusted security audit service provider to improve the security posture and stay ahead of evolving cyber threats.
- Real-Time Market Data and Transparent Fees
Cryptocurrencies are known for their volatility, meaning their prices can fluctuate significantly in a short amount of time. Having access to real-time market data allows users to see exactly how much each cryptocurrency is worth at any given moment.
This empowers users to make informed investment decisions. Think of it like having a live news feed for the crypto market, constantly updating you on the latest price movements.
In addition, transparent fee structures build trust with users and ensure you can accurately calculate your potential profits or losses before making a trade.
Read More: 5 Key Things to Remember before Launching your Website
- Secure Private Key Management
Private keys are digital codes that act like passwords for accessing your cryptocurrency holdings. They are essential for signing transactions on the blockchain, a secure public ledger that records all cryptocurrency transactions.
Losing your private key is akin to losing your cash and without it, you cannot access your crypto assets. To ensure the safety of user funds, top-tier apps employ robust security measures to safeguard private keys.
- Fiat On-Ramp and Off-Ramp Options
A fiat on-ramp acts like an entrance ramp. It allows you to take your regular cash (fiat) and use it to buy cryptocurrency on the app. This is perfect if you’re new to crypto and want to start investing with some of your everyday money.
On the other hand, a fiat off-ramp works like an exit ramp. Let’s say you’ve been trading crypto and want to convert it back into cash you can use in the real world. This option lets you easily sell your cryptocurrency on the app and transfer the money back into your bank account.
- Anti-Phishing Measures and Scam Detection
Cybercriminals often employ phishing tactics to steal user credentials. Phishing emails or messages typically appear to be from a legitimate source, such as a well-known bank, credit card company, or even the crypto-swapping app itself.
These messages may contain links that, when clicked, take users to a fake website designed to look identical to the real platform’s login page.
For instance, users should be wary of emails or messages with a sense of urgency or that create a feeling of fear or scarcity. Additionally, legitimate companies will never ask users for their private keys or other sensitive information via email.
- KYC/AML Compliance
KYC procedures require crypto-swapping apps to verify the identities of their users by collecting and validating certain personal information, such as full name, date of birth, residential address, and government-issued ID.
AML compliance involves implementing measures to detect and prevent suspicious financial activities that could be indicative of money laundering or other financial crimes.
By adhering to KYC/AML regulations, crypto-swapping apps help to maintain the integrity of the financial system and create a safer environment for all users.
- Educational Resources and Support
For new users entering the crypto space, access to educational resources within the app can be invaluable. Top-tier apps provide a range of materials such as articles, tutorials, and FAQs to empower users with the necessary knowledge to navigate the crypto landscape confidently.
Additionally, responsive and knowledgeable customer support is essential for addressing user concerns and resolving any issues promptly.
Whether users have a question about fees, need help navigating a specific feature, or simply want clarification on something, the support team should be readily available to assist them.
How Theme Bitrix Can Help You to Develop a Cryptocurrency Swapping App?
Preferring Theme Bitrix to develop a crypto-swapping app is beneficial from three angles and they are as follows.
- Cost-effective approach
Theme Bitrix brings transparent and affordable pricing to the table for developing the crypto-swapping mobile app. We don’t demand any kind of hidden fees or charges. You can simply ask us about the payment structure as per your requirement and we will deliver the best deal to you.
- Modern Solution
As we’re in the ever-evolving crypto world, having a contemporary mobile app for swapping crypto is a much-needed aspect of being successful in the market. Once we receive your request to develop the crypto-swapping app for iOS and Android, we will start the process with cutting-edge technologies and methodologies.
- Reliable Support
After we deliver the required app to your business, we will be in touch with you to solve any issues or concerns that you might feel. In addition, we prioritize your problems and get back to you instantly with a solution. Thus, you can easily manage your crypto-swapping business through a mobile app.
Conclusion
As the crypto market is changing constantly and it’s a soft target for hackers to steal the user’s data, having a secure mobile app is not just necessary but it’s mandatory to gain the user’s trust. Also, in that app, the exclusive features will enhance the user experience and allow them to complete the transactions.
Theme Bitrix provides a complete solution to develop the best crypto swapping mobile app from scratch to deployment covering every stage. Contact us with your requirements and get back the solution right on the way.
