Gone are the days when transactions were completed solely with cash and plastic money. Starting a thriving Cryptocurrency exchange firm in the crypto field is one of the best ways to earn a substantial quantity of money in this modern-day. Many crypto companies and entrepreneurs have started their crypto exchange platforms employing strong crypto exchange clone scripts, which is nothing new.
Furthermore, as the use of digital currencies grows, many corporate executives are growing interested in cryptocurrency trading. But, at this point, the question is: what is the optimal method to establish a cryptocurrency exchange business?
Being a renowned cryptocurrency app development company, we are well acquainted with the technical aspect of Coinbase like app development. In this article, we are explaining Cryptocurrency apps features, Coinbase like app development cost, and the winning strategy.
Only a well-thought-out strategy and new ideas for establishing and expanding your crypto trading platform, as well as providing cutting-edge trading capabilities, will enable you to flourish in the crypto sector. Binance, Coinbase, and LocalBitcoins are the most popular bitcoin exchanges right now in the crypto sector. As a result, there is a lot of potential for new firms and entrepreneurs to make a lot of money by opening a cryptocurrency exchange like Coinbase.
What is Coinbase?
In the bitcoin world, Coinbase is the most well-known and widely used bitcoin trading platform. Coinbase started as a virtual wallet in 2012 but has now evolved into a popular trading platform. In comparison to other trading platforms, Coinbase is a standout platform that accepts Visa instalments. Coinbase is now used as an exchange trading platform in over 100 countries. This exchange allows users to trade major cryptocurrencies and tokens at market value. Coinbase currently has more than 35 million active crypto clients all over the world. Its crypto trading mobile app is compatible with both Android and IOS making it the preferred exchange in the cryptocurrency market.
Pros of Coinbase
- Bank transfers, PayPal, and credit cards are all accepted as payment methods.
- User onboarding is simple and the user interface is intuitive.
- A variety of associated services, such as deposits and immediate transfers, are available.
- Operations with multiple cryptocurrencies (Bitcoin, Ether, Litecoin)
Cost to develop a Cryptocurrency app like Coinbase
When we talk about cryptocurrency app development, we’re talking about creating a bitcoin app for both Android and iOS. The cost of a cryptocurrency app is determined by what you want to develop. It all relies on the features you want to incorporate into your cryptocurrency trading platform. You must deal with your best interests with a reputable crypto exchange clone script provider in the crypto industry.
It also relies on the cost of hiring experts such as developers, designers, and testers who are experienced with the type of app you would like to build. Let’s view some of the features that influence the cost of creating cryptocurrency apps such as Coinbase.
Basic Features that Influence the Cost
Coinbase does not only collectively work for bitcoin, but also for the leading digital currency exchanges where customers may trade their preferred digital currencies. Coinbase-like apps are in high demand, thus specific features are required which can support both Android and IOS platforms. These are the most popular and effective features that you should add to your Cryptocurrency app like Coinbase.
1. User Registration:
Customers can use their email credentials to set up an account and login into the online community.
2. Manage Account:
Users can sell and receive bitcoins after signing into their registered accounts. Other crucial details, such as the total number of Bitcoins accessible and the amount of information, are also visible.
3. Purchase and Sell Bitcoins:
The buyer should first have access to an interface that enables them to conveniently buy and sell bitcoins and other digital assets. They must not be perplexed when using the app and must be able to complete transactions without difficulty.
4. Secured Payment:
Users shouldn’t even be concerned about adding their debit or credit cards to the app. To put it another way, people need to feel protected and secured while trading. They should be able to see information regarding the vendor and the amount to be paid and seek a deal for purchasing bitcoins as well as information such as the number of bitcoins to be sold, the exchange rate, as well as the amount to be sent.
5. Regular Updates:
Another of the Coinbase wallet app’s biggest advantages is that it keeps users up to date on the price of bitcoin and other cryptocurrencies. Users who want to buy and trade cryptocurrencies need to be able to access real-time updates. It is wise to provide users with distinct graphs that show a price increase or decrease, allowing them to access real-time and historical currency information all in one spot.
6. Transactions and Balances History:
The app should give customers access to information about their previous transactions and balances. This is another key aspect to consider when creating a bitcoin-like mobile app. Users will be able to see their previous transactions and maintain track of the most recent activity as a result of this. They should be able to check if they transferred or bought the currency with detailed information such as the date and time.
7. Conversion rate:
It is important to provide feature-rich bitcoin wallet software that can be exchanged for any foreign money with ease. Businesspeople all across the world employ cryptocurrency technology. As a result, it should feature simple currency conversion procedures to make businessmen’s jobs easier. You must select an IT firm to design bitcoin exchange software that meets your needs. This function makes it simple to transfer cash from one nation to another in the blink of an eye.
8. Push Notifications:
One of the most helpful features you may include in your bitcoin Coinbase-like software is push notification. Users will never miss another occasion to use the application with the most advanced features. Allow them to decide the rates at which they want to sell or buy bitcoins. They will receive an instant notification alert if the price changes from their specified price. Also with this feature, they will be able to effectively decide whether to buy or sell cryptocurrencies like bitcoin, ripple, or ether.
Advanced Features that Influence the Cost
Below are some of the standout elements to consider while creating a cryptocurrency application that stands out from the crowd.
1. QR Code Scanner:
This function isn’t new in mobile app development, but it’s useful for apps that will need to transfer money while travelling.
2. Optional logout:
Integrating optional logout options into the trading app is undoubtedly a brilliant and powerful concept.
3. Two Factor Authentication:
Adding two-factor authentication to an application may raise application standards, and implementing it is undoubtedly a wise move. In addition to logging in with a username and password, the second layer of authentication is necessary.
4. Recurring invoices:
This is a must-have for anyone who does business with trading platforms. Recurring payments save you time and effort by eliminating the need to write extensive data and account numbers.
Customers must be able to conduct monetary transactions through crypto transactions, which necessitates a high level of security. This cutting-edge technology is completely risk-free for various business and industrial customers to use.
6. Detail Transaction:
A blockchain development service should enable business owners to send payments to any location in the world with ease. It is necessary to add a small amount of information before proceeding with transactions to improve the security of crypto software. It requires specific details, unlike bank transfers.
Making An App Like Coinbase: Tech Stacks
Node.js or Java is the backend application used to make an app like Coinbase. There have been essential frameworks for faster development, such as BitcoinJ, Chain-Java, and others, that provide all of the necessary capabilities for crypto app development.
React or Angular is often used to build the front end. You can also use React Native, which allows you to quickly develop modern interfaces and save a lot of work. You will be able to create a single application that will operate on both iOS and Android using react-native.
Cryptocurrency app creation is not a simple operation, you must contact the best digital currency trading app development company such as Auxano Global Services. There are numerous features that will enhance the Bitcoin Apps. Based on the app’s functionalities, the price ranges from $57000 and $98000. If you want both a website and an application for your bitcoin exchange platform, you’ll have to pay somewhere between $132000 and $145000. Businesses are actively looking for opportunities to develop a high-end cryptocurrency app like Coinbase due to its massive potential of changing the trading market.
Auxano Global Services is India’s quickest-growing digital transformation and cryptocurrency exchange app development firm. Our team of analytical innovators and creative app developers use industry insights to achieve innovations that are firmly anchored in the company context. Taking your concept to the next level by incorporating cutting-edge technology and infusing it with the values that will help you succeed. To get a precise price, contact us now.