Cryptocurrency Exchange App Development — An In-depth Guide
The digital world revolution is much simplified by using mobile apps by everyone. Many businesses now start offering their services via mobile applications. In that case, the cryptocurrency industry is not an exception to it. Ever since the introduction of mobile apps, the crypto industry has recorded historical growth in its phase. All business options in the crypto market are rebranding themselves in launching a mobile application.
Cryptocurrency exchange apps are the leading business options for many cryptopreneurs who wish to make their business simple and lucrative. The easy access and efficient functionality of these apps help traders to save time and effort. The user-friendly interface, real-time market stats, and instant order-placing function keep the user’s trust resulting in a growing user base.
Knowing all these qualities, many startups and entrepreneurs are interested in cryptocurrency Exchange app Development.
In addition to that, there are proven benefits that could help you identify the demand of your app users. And defining your business strategies accordingly is a wise thing in this regard. So in this article, we will explore the business benefits with the ways and cost to create crypto exchange app.
Let us start with the…
Benefits of Cryptocurrency Exchange App Development
Cryptocurrency exchange app development not only brings your business front line technically; but ensures that the trader’s active participation in it. Starting your crypto exchange business through a website, browser extension or trading app is completely your decision. However, when offering your services via a trading app have several advantages over the website or browser extension. Likewise, you can derive a bunch of benefits when your exchange business functions through an app. They are,
Increase in User Base
Basically, crypto trading apps offer a majority of trading features and an effective trading experience. As a result, the active users count will increase day to day.
Flexibility
The crypto trading app allows trading anywhere and anytime possible. You do not require a big-screen computer and a standard internet connection.
Easy Marketing
With push notifications in the app, you can inform your business promotions to users. You can also let them know your offers, new asset listing, tips, and alerts regarding market movement, statistics, etc.
Global Reach
The increasing demand of using cryptocurrency exchange apps is the reason for exchange businesses to reach the global population easily.
High Possibility of Revenue Generation
In cryptocurrency exchange apps, you can earn through in-app purchases, premium (Paid) features, subscriptions related to trading news and reports, and services.
From the above mentioned benefits, you may understand how you benefit from Creating Crypto Exchange App for your business. This crypto exchange app simply provides all the power and control in your hands. In addition, you can check to do real-time monitoring and track the stats on the go.
Further, one can customize the Crypto Exchange app according to their business objectives. Overall in terms of user experience, time-saving and improved performance, both users and business owners find cryptocurrency exchange apps an ideal way compared to website and browser extension platforms.
To be more precise there are some top performing crypto exchange apps in the market. Also, to save your time in searching for such exchange platforms, I have listed the 5 Top Cryptocurrency Exchange Apps leading the industry below. Knowing them could let you understand the significance of cryptocurrency exchange apps further.
Here is the list of top performing crypto exchange apps in the industry…
Top 5 Cryptocurrency Exchange Apps in 2023
1. Binance
Binance is the renowned crypto exchange, functioning with the website, mobile application, and browser extension platforms. All of its interfaces match the trading needs of both novice and experienced traders. The larger trade volume of Binance inspires many startups to develop a crypto exchange like Binance using Binance Clone App.
2. Coinbase
Coinbase, who is the second most popular exchange, offers services on the website and mobile app, as well as wallet services via a browser extension. The Coinbase mobile app is very popular among all ages of traders, and provides a broader range of cryptocurrencies.
3. Gemini
Gemini, one of the popular exchanges, is functioning with a website and mobile application suitable for both new and proficient traders. Gemini concentrates on users’ security and its mobile application is known for graded security.
4. Kraken
The Kraken app provides users an option to instantly switch between various trading options like spot and margin trading. And they have a range of various trading options for their mobile users.
5. Crypto.com
Crypto.com offers service through a website and mobile applications. You can get simplified wallet support as a browser extension.
These are the top 5 crypto exchange apps, who are known for their popularity and branding among the users. Also, they tend to attract many trading users by offering various benefits and user-friendly experience features. Now, you might wanna know the ways of developing it. So, it is wise to know cryptocurrency exchange app development methods of this app to meet the business needs within your boundaries. Therefore, here is an overview on…
Cryptocurrency Exchange App Development Methodologies
There are several options in the crypto industry for cryptocurrency exchange app development. But make sure you choose the right development process. So that, you can extend your stance in terms of business goals and possibilities. For instance, by selecting the right development method, you can calculate the cost and time needed for development. So with the remaining funds and time, you can plan for your future business promotion and expansion.
So let us begin with….
Hiring a Freelancer / Open Source
Cryptocurrency exchange app development with the help of freelancers / open source is a bit confusing and complicated. The freelancer may be highly skilled and experienced in delivering quality outcomes in a shorter time. But, the main concern rising here is security, lack of supervision, and commitment. This may certainly lead to critical issues. And as a result, you may be forced to compromise your business goals.
Well! Both hiring freelancers and open-source methods have more complications and less limitations, which reflects in the outcome of your crypto exchange app. But, when you choose a crypto exchange app development company, you can overcome these shortcomings.
To be precise, It is best to…
Choose a Cryptocurrency Exchange app Development company
If you are more cautious of cryptocurrency exchange app development in safer ways, then connecting with a development company would be the right choice. Because, their methodology contains multiple planning, designing practices and various testings based on industrial quality standards. Also, this professional team of experts will take care of the technical limitations. This will completely reduce the shortcomings you faced in hiring a freelancer and using a source code on your own.
When you hire an Crypto Exchange app development company, they will obviously provide you two different options of developing a cryptocurrency exchange app. They are: Creating from scratch or using White Label Crypto Exchange Software solutions.
So, the first option would be…
Development from Scratch
Cryptocurrency exchange app development from scratch is a process of creating it from base. It includes lots and lots of programming, knowledge and manpower. You need to spend more effort, time and investment on this method. But the end result would be equal to what you expected.
Now the second option would be…
Development using White label solution
The white label crypto exchange software is a ready-made solution available in the market. With this, you can get the basic features of an exchange app. This software has already been designed, tested multiple times and ready to deploy a cryptocurrency exchange app. So, startups who need to develop and deploy their crypto trading app in a shorter time can make use of this white label solution.
Now you may understand the potential development methods to create crypto exchange app. Therefore, choosing the right development method yields you remarkable benefits. With that, you can roughly calculate the resources like time and money needed. Thus, the right development method is the base for taking your business as a popular one in the crypto industry.
Eventually, for the cryptocurrency exchange app development in a cost-effective way, you need to understand the…
Cost of Cryptocurrency Exchange App Development
To be honest, the cost to develop crypto exchange app may vary based on certain factors and features. As a crypto enthusiast, let me share the assumed cost of a crypto exchange app based on the methods we discussed earlier. Likely,
- When you hire a freelancer or choose open-source software for creating a crypto trading app, predicting the cost is a challenging thing. Because the wages of the freelancer and the cost of the open-source license are varying things. So cost estimation of these methods is a completely unpredictable one.
- When choosing a Cryptocurrency Exchange App Development company, the estimated cost would be around $60,000 to $80,000 to develop a cryptocurrency exchange app from scratch.
- If you create cryptocurrency exchange app using a white label solution, the estimated cost would be around $15,000 — $ 20,000.
From this approximate cost, it will help you to know the financial possibilities to expand your business further. So consider your business objectives and budget before choosing the right method. Whatever the method is, you need professional guidance from a reputed cryptocurrency exchange app development company. It is the necessary step to secure the growth of your business.
Finally,
Crypto trading apps make the trading approach more secure, reliable, and convenient.But keeping the crypto business profitable completely depends on the development method you choose. So stick with a prominent cryptocurrency exchange app development company that listens to your thoughts, guides you perfectly, and gives life to your dream business.
