Cryptocurrency is grabbing the attention of millions of people globally. Crypto assets are made via blockchain technology that functions entirely on decentralization.
Users executing crypto exchange apps are increasing each passing day. Some of the popular cryptocurrency exchange apps are Coinbase, Gemini, Robinhood, etc.
According to Allied Market Research, the global cryptocurrency market size stood at $1.49 billion in 2020 and will reach $4.94 billion by 2030.
So, do you also want to create a cryptocurrency exchange app? If yes, now is the best time.
Many startups and entrepreneurs can leverage the cryptocurrency exchange app to start a profitable business. However, the cost of cryptocurrency exchange app development depends on the features you wish to include in your app.
So, let’s have a look.
1. Trading Engine
The trading engine is one of the essential features cryptocurrency exchange app. It plays a crucial role in controlling many features from executing transactions, balancing calculations, accessing order books, and buying and selling transactions from the application.
2. User Interface
The user interface design of the crypto exchange app is developed to draw users and deliver a seamless experience. Whether front or back-end, the best cryptocurrency exchange development company provides the following features efficiently.
- Creating orders
- View transaction history
- Smart filter choices
- Hassle-free fund withdrawal and deposits
3. API Integration
API integration enables the cryptocurrency exchange app to link with other external apps to access its data and functionalities. The data from the app is transferred to different apps to provide an easy and flawless user experience.
A crypto wallet within the cryptocurrency app is a must-have functionality that lets users send and receive digital currencies. The best features are incorporated within the wallets are the following:
- System Wallet
The foremost aspect of the wallet is its capability to store the user’s money in the system. Furthermore, you can use the system wallet on desktop and mobile effortlessly. You can read a comprehensive cryptocurrency app development guide to understand the development process better.
- Withdrawal and Deposits
The user can easily withdraw and deposit the crypto amounts within the crypto exchange app by scanning QR codes, via ATMs, transfers, etc. However, the trading and depositing within the wallet are accomplished only after the complete verification.
5. Cross-Platform Compatibility
The cost of a cryptocurrency exchange app is highly dependent on the type of platform you choose. Cryptocurrency applications that can work both on Android and iOS will cost you more than releasing your app on a single platform.
Cost of Creating The Cryptocurrency Exchange App
With all the features mentioned above, the cost of creating a cryptocurrency exchange with basic functionalities will range from $15000 to $50000.
If you wish to create an app with advanced features that is more updated, then the cost will range from $50000 to $100000.
Analyzing the cost of creating the cryptocurrency exchange app is a challenging task. Since the cost changes with the app development company you partner with, expertise, trading features incorporated, and much more.
Also, the cost differs in different countries and their service providers. If you wish to create an interactive and fascinating cryptocurrency exchange, you can hire the top Blockchain development company for profitability. However, I suggest doing a complete market analysis and conducting a rigorous screening process before hiring any app development firm.