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How to Create a Competitive Bitcoin Investment App

Vitaly Kuprenko
Coinmonks
5 min readSep 7, 2020

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These days, we face the growth of cryptocurrency popularity. Bitcoin is considered as one of the most promising cryptocurrency. As a result, it’s time to create digital solutions that help invest in Bitcoins and make the right Bitcoin investments in different business fields.

In this guide, we’ll cover Bitcoin investment app development.

Reasons to Develop a Bitcoin Investment App

First of all, let’s figure everything out. Why Bitcoin? There are several reasons why you should invest in Bitcoin over other cryptocurrencies.

  • Trust towards Bitcoin. Let’s face it — people’s trust towards Bitcoin is higher in comparison to any other cryptocurrencies. It prevents Bitcoin from crashing and strong cost reduction. According to the experience, after Bitcoin drops, it restores high prices quite fast.
  • Higher liquidity. It means that customers have a lot of opportunities to buy and sell Bitcoins. It’s even possible to buy this cryptocurrency in Bitcoin ATMs. The market is full of Bitcoin solutions. For example, there are digital wallets like CoinBase, KeepKey, and others.
  • Stability. Due to financial and political instability these days, many weak cryptocurrencies are bad for savings. On the other hand, Bitcoin remains stable and hard.
  • Low governmental control. Governments don’t have strict restrictions, considering the Bitcoin cryptocurrency. Bitcoin is decentralized and pseudonymous. However, speaking about any financial business, you have to get a government license to work with Bitcoin.

How to Make a Bitcoin Investment App: Steps to Follow

To create an investment app, you should have high tech expertise or hire specialists. It’s required to work with complex methods and high skills.
Below you can find six main steps that you should follow to develop a Bitcoin investment app and make it strive:

  • Step #1. Conduct market analysis.
  • Step #2. Hire a qualified lawyer.
  • Step #3. Settle all illegal issues with the government.
  • Step #4. Make a user agreement.
  • Step #5. Develop an app prototype.
  • Step #6. Design and develop a Bitcoin investment app.

Let’s consider the details of each step.

Step #1. Do Market Research

Before starting the development process, you need to explore the market and discover cryptocurrency’s trends. Also, it’s better to consider the challenges you may face.

You should compare all the existing cryptocurrencies, considering their strong and weak sides. Additionally, you need to hire a professional financial consultant. Such a specialist can help you distinguish all the aspects of your new financial issues.

Step #2. Hire an Experienced Lawyer

Starting a financial business, you need to cooperate with a professional lawyer. There are a bunch of legal issues that you need to solve fast. In this case, the qualified lawyer is your best assistant.

Step #3. Consider the Legal Issues With the Government

The number of required documents depends on the regulation of your country. In most cases, you need to get a special license to start working with any cryptocurrency.

Having a license, you can be sure that your cryptocurrency exchange app is completely legal.

Step #4. Create a User Agreement

It’s better to make a user agreement beforehand. They need to see it before using your Bitcoin investment app. You should include all the features your app offers, how the app works, and license in this agreement.

Users should put a tick to agree with these rules.

Step #5. Prototype Your App

Starting the Bitcoin app development, you should be ready to invest in your tech solution. To avoid additional expenses, you need to create a prototype of your application.

A prototype allows seeing how the features will function. As a result, you can improve the users’ experience. Prototyping allows starting the development process with verified specifications.

Step #6. Design and Develop the App

Last but not least, you need to start the development process.

You need to consider the app design since users are quite spoilt these days. The design has to be user-friendly and attractive.

As for the Bitcoin app development, you need to hire a qualified development team. They create the front-end and back-end parts of the project.

An important step during development is testing. It allows finding and fixing bugs. It leads to improving user experience and gaining their trust.

Required Features to Integrate in Bitcoin Investment App

Every app consists of two types of features — basic and advanced.

Basic or MVP features stands for functions that tend to satisfy the users’ needs and expectations. As for advanced or complex functions, they try to improve customers’ performance.

To give you a hint, we’ve listed the MVP features of a Bitcoin investment application:

  • Registration and login
  • Currency converter
  • Push notification
  • User profile
  • QR code scanner
  • ID verification
  • Bitcoin sale and purchase
  • Auto cancelation
  • Admin panel

Also, you need to consider the app security. You can integrate the following solutions:

  • Two-factor authentication
  • SSL encryption
  • Automatic logouts
  • ID verification

Hints to Create Successful Bitcoin Investment Application

There are four primary tips that can make your Bitcoin app successful.

  • Low for purchase, high for sale. Bitcoin should be bought when it has a lower cost and sold when the price gets higher.
  • Monitor the BTC market. This tip is connected to the previous one. Users need an opportunity to monitor the BTC market. As a result, they can get pieces of advice when to buy cryptocurrency.
  • Where to invest Bitcoins. You can provide a list of funds and stock exchanges for users to invest in. However, you need to carefully consider the project since a cryptocurrency market is full of fraud.
  • Evaluate risks. Of course, you need to invest in the Bitcoin cryptocurrency to reach success. But it’s necessary to consider the risks and make smart decisions.

As you can see, Bitcoin investment app development tends to be time-consuming and challenging. You need to hire qualified and experienced developers to create a great product. Additionally, it’s better to cooperate with a good lawyer that can help you solve a bunch of legal issues. Also, you need to get a license to start a financial business of this type.

Author’s bio

Vitaly Kuprenko is a writer for Cleveroad. It’s a web and mobile app development company with headquarters in Ukraine. He enjoys writing about technology and digital marketing.

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Vitaly Kuprenko
Coinmonks

Written by Vitaly Kuprenko

195 Followers

Technical writer at Cleveroad. It’s a web and app development company in Ukraine. He enjoys telling about tech innovations and digital ways.

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