In recent years, the digital wave is transforming every sector whether it is the automobile sector or the healthcare sector. When it comes to digitalization, the financial sector has experienced the most significant revolution and cryptocurrency app is the example. Everything is at your fingertips from normal banking to trading.
Earlier trading was not much into consideration but in the present era, things are entirely changed with the cryptocurrency app development. After the success of bitcoin, investors are planning for a new trend-setting trading apps development.
So if you are looking for developing finance and trading online applications then dive into this blog for a piece of complete information.
What Is Cryptocurrency?
In the year 2009, cryptocurrency came into the picture when the first cryptocurrency was launched by Pseudonym. In 2008, Bitcoin was launched by Satoshi Nakamoto and since then, the online trading world has experienced an enormous rise in demand.
Cryptocurrency is a digital asset that enables users to buy, sell, or transfer digital currencies. Since Bitcoin, various other currencies have come into the picture like Ethereum, Dogecoin, etc. These digital currencies are in use for trading with several conventional currencies such as dollars, pounds or euros, etc.
These currencies are getting more secure and reliable as they are electronically traded and monitored. Cryptocurrency is not centralized and is not controlled by the government of any country. All the transactions and balances are entirely on the network managed by peers exchanging cryptocurrency.
Because of all these perks, cryptocurrency exchange app development has been in demand. An app like Coinbase offers various features such as account transfer, instant trading, etc. Let’s have a look at Coinbase and how it works.
How Does Coinbase Work?
Working Of The Bitcoin App: Coinbase
When you start working on Coinbase, you need to start with a user-friendly registration that requires some basic information like legal name, date of birth, address, and last four digits of your social security number. After that, these pieces of information are required to comply with federal regulations and link an individual’s bank account into the app.
There are multiple banks in association with the app user can choose from. The buying process is very simple like buying a product on an e-commerce platform. One just has to click ‘Get started’, and one can choose from the available cryptocurrencies displayed as per their budget and interest. On purchase of 5 USD, Coinbase levies a transaction fee of 99 cents. Once bought, you have to hold the currencies for a week.
The selling process is quite easy and a user can choose to sell a fraction of a whole available lot. Since the exchange rate of such cryptocurrencies is high, there is a scope for another app like Coinbase in the market in the upcoming years. For that, all you have to do is offer efficient features and understand the requirements of your targeted audience. Now, let’s have a look at some must-have features to have in your app.
Features To Include During Cryptocurrency App Development Process
Client-side Private Key
Restrict Repeated Payments
Intelligent QR Scanner
How Much Does It Cost To Develop A Cryptocurrency Exchange App Like Coinbase?
Cryptocurrencies are in trend nowadays and for the success of your business, you have to follow the trend. The sector of digital currencies is massive and has been rising in demand. The need for cryptocurrency app development is increasing higly and a fraction of the population is yet to invest in trading platforms. This sector holds millions of opportunities in the future, and you should take advantage of it. You can grow your business in the market just by using the right set of tools and technologies and offering intuitive features to your users.
Echoinnovate IT can help you in developing an app like Coinbase. Our proficient app developers have developed several cryptocurrency exchange apps that have received great appreciation from clients and users. Get in touch with us now to discuss your idea, and we will develop your application exactly as per your expectations.