Trading between cryptocurrency buyers and sellers requires exchange software. However, building a crypto exchange platform alone isn’t enough to succeed in today’s fast-paced market.
A new exchange must now have all the features, and functionalities users have come to expect from cryptocurrency exchange applications. It must also ensure data privacy and fund security while maintaining the app’s efficiency and improving the user experience.
If you have availed of cryptocurrency exchange development services to develop such an app for your business, you need to account for both essential and practical features to pull in customers.
This blog covers the must-have functionalities without which a cryptocurrency trading app wouldn’t be possible.
Key Features to Include in a Cryptocurrency App
From basic functionalities to options for advanced users, there are certain features a cryptocurrency exchange application cannot do without.
Let’s look at these essential features of a crypto trading app:
Login and Onboarding
We have all come across countless login and signup options, but each one is necessary, or the app won’t store user information. Onboarding a user to an app requires the following major components:
- Log in
- User Verification
These features may not seem a lot at first, but there are a lot of details to keep your development team busy. The goal is to keep things quick and simple, so they lead the users to the app’s core functions as soon as possible.
Alternatively, you can bring users straight into the app without registration. They will still have to register before performing any meaningful action, as the registration dialog will trigger whenever they try to do so. With this approach, the user can explore the app without committing fully.
Customer Verification (KYC)
This is also a vital component that might seem inconvenient for customers, but it protects them from scams and crooks. Besides, KYC procedures are usually relatively straightforward and require unique identity documents for verification, such as a state ID or driver’s license.
KYC, like onboarding, should take as little time and effort as possible.
The customers expect to see information on crypto assets and the state of the market before they start trading. This section will involve charts, so make sure they are as user-friendly and customizable.
The trading functionality is the next major component of any crypto trading mobile app. Who will use the app: newbies, experienced traders, or enterprise players? This section will provide options depending on the trading experience you want to create.
Some of these include:
- Exchange and market orders
- Order book
- Margin trading
- Bot trading
In it, you must ensure that all the options for buying, selling, and trading cryptocurrencies and tokens are straightforward for the customers. They will also need a fiat on-ramp option to convert their fiat money into cryptocurrency.
Portfolio Performance Monitoring
Lastly, users want to track how their assets appreciate (or depreciate) in value. After all, crypto’s crazy gains are why they downloaded your app in the first place- and the blockchain development company you chose knows this.
Therefore, a typical portfolio has the following:
- Long and short-term performance charts
- A highlight of the assets contributing to the portfolio growth
- The option to share portfolios so your customers can stir some social networking
- The ability to import portfolios from other exchanges
There are plenty of other features that will require careful consideration by you and the app development company you hire. These include crypto wallets, notifications, recurring buys, NFT trading, the inclusion of brand-new tokens, etc.
The more features you can provide from the end-users perspective, the greater your chances of creating the perfect user experience.