Today, Cryptocurrency is trending so much that it will be everywhere in years to come. As a result, cryptocurrency exchange app development is also trending in the market. No one imagined at new business models and features would be integrated to create new cryptocurrency exchanges.
Do you want to try hands-on building WazirX like crypto exchange apps? Well, the first thing you should determine in the process is a budget. So, this blog would help you learn the cost to build an efficient cryptocurrency app like WazirX.
WazirX App – What Is It All About?
Before moving on to the WazirX like app development cost, let us understand what is WazirX?
It is a popular cryptocurrency exchange app that enables users to buy & sell across 100 cryptocurrencies via the platform.
Binance like crypto exchange app merged with the India-based app. WazirX app is completely safe to use and comes with secure and powerful security features to protect your transactions.
Why Cryptocurrency Exchange Apps should be used by Businesses?
Looking at the significant growth in the cryptocurrency exchange market, it can be a robust asset for businesses. Due to the huge growth witnessed in the crypto market, a lot of people from different industries are moving towards this market which is why it will grow even more.
Statistics To Watch Out For Cryptocurrency Market
- As per the stats, the international cryptocurrency market is predicted to touch $1,758 million by the year 2027. It would see an 11.2% of annual growth rate. This shows that the digital currency exchange system would move towards success swiftly.
- Top cryptocurrency exchange development companies are offering feature-packed crypto apps to the firms to help them cater to the changing demands of the crypto market.
Advantages of Cryptocurrency Exchange Apps Like WazirX
When it comes to advantages associated with Crypto exchange development solutions like WazirX, there are plenty of them like :
Seamless Payment processing
With seamless payment processing, businesses can grow and they do not have to pay high charges to maintain the security. So, this advantage is for both customers and businesses.
Submitting or receiving payment can be done faster without paying any charges. This helps businesses earn more and use the revenues in expanding their business, funding operations, etc. On the other hand, faster transactions would attract more customers.
Cost-effective and highly secure Cloud Storage
To build a blockchain storage app, you should hire blockchain developers. It would help your business integrate effective methods to fetch data with high security and relevant fees.
Online payments
Business ventures can perform financial transactions & payments through the internet. Well, there can be other payment methods that can also be used but they charge certain fees.
Businesses can gain complete control over financial transactions with crypto exchange apps. Also, it is a flexible method for users.
Stay competitive
With the crypto exchange app, you can stay ahead of your competitors in the market. It will provide you with an edge over the competition and grab more opportunities in the long run.
Lesser Frauds
Chances are that frauds happen often with the use of credit cards/ banking systems. With cryptocurrencies, the users & businesses report less number of scams and frauds.
Eliminate Barriers
Well, Cryptocurrencies not only help enable faster and more convenient transactions but also eliminate different limitations and obstructions to global trading.
Cryptocurrencies have also made payment acceptance easier through different currencies. Whether the transaction is within your country or international, it will be carried out with the same flexibility and ease.
Nifty Capital setup
With the help of the Blockchain App Development company, you can integrate blockchain technology into your crypto exchange solutions and it would be quite beneficial. It would offer an option for your business and a strong method of raising funds through Initial Token offerings (ITOs). These tokens are available for future investors that are equivalent to the revenue share in a particular business.
Popular Crypto Exchange Applications
- CoinSwtich
- WazirX
- CoinDCX
- Coinbase
- ZebPay
- Unocoin
What Are The Different Types of Crypto Exchange Platforms Available?
Well, before you get curious to know about the WazirX app development cost, make sure you explore the different types of Cryptocurrency exchange applications available in the market.
Centralized Crypto Exchange Apps
This is a digital crypto platform wherein there is a buy & trade of cryptocurrencies. It is a common platform wherein investors can buy and sell their crypto funds. Well, these platforms for crypto exchange charge a fee which is on little on the higher side, moderate trading fee but offer modern and simple app features which comprise exchange and charting.
Decentralized Crypto Exchange Apps
These cryptocurrency platforms are preferred by people who wish to buy and sell cryptocurrencies among themselves. These apps are ideally not secure as centralized crypt apps. Thus, there is the risk of fraud and hacking associated with these apps is higher. These apps do not rely on 3rd party services to secure the funds of their users.
Must-have Features To Be Integrated Into Crypto Exchange Apps
The overall cost to build a cryptocurrency app highly depends on the features included in it. So, let us check out the feature that would help you launch a crypto app with modern features :
User Panel features
- User Profile
- Secure Payments
- Conversion Rate
- Interactive User Interface
- Balance History and Transactions
- Daily Updates
- Account Management
- Trading Engine
- Real-time Notifications
Admin Panel features
- Withdrawals & Deposits Management
- Setting Modification
- Content Analysis and Management
- System and User Wallet Management
Advanced Features
- Two-factor Authentication
- Recurring Invoicing and Billing Process
- Optional Logout
- QR Code Scanner
A Process To Follow For WazirX Like Crypto Exchange App Development
When it comes to the development process, a professional Cryptocurrency exchange development company would follow a step-by-step process.
1. Create a Plan
Whether you hire mobile app development solutions or a Cryptocurrency exchange development company, they would spend ample time creating a plan on how the entire app development process would go. They will focus on building a solution that extracts the benefits from the crypto industry. So, creating a perfect plan is necessary to build robust solutions.
2. Perform Market Analysis
Next, market research and analysis become the essential part to build a crypto exchange platform. Here, you would pay attention to
- Core requirements for the app
- Features to be included in your cryptocurrency app
This would help you know your competitors well and you can create an individual plan that helps you sustain in the market.
3. UI/UX Design
Once you are done with the listing of essential features and requirements, move further to plan the design of the app. Make sure you invest enough time to plan the front-end design of the app as it would have the features and functionalities that would complement your app vision.
4. App Development
It is one of the crucial stages of development wherein the design and development are made functional. It is about using the technologies wisely to include features and other elements related to the development.
5. Testing
Once the development is done, you need to test it to check whether it is working fine or not. This stage involves bug testing to ensure each feature and functionality on your app is working fine. In case of any errors or bugs, you can resolve them at this stage. The main idea is to have a bug-free app.
6. App Launch
After performing the above steps properly, this is the stage where your app is ready to be launched in the app market.
Team Structure for Cryptocurrency Apps Like WazirX
- Project Manager
- Quality Analysts
- Back-end developers
- iOS App Developers
- Business Analyst
- Android App Developers
- UI/UX App designers
What Are The Factors That Determine The Cryptocurrency App Development Cost?
To calculate development cost isn’t easy until and unless you know the factors that affect the cost of cryptocurrency app development, so let us have a look at them
- App Features
- User-friendly Interface for App
- Location of the development team
- In-house team or outsourcing the app project
Final Words
After learning about the crucial aspects of cryptocurrency app development like WazirX, you can easily determine the cost with the help of your app development team. Now, after gathering all the information you can go ahead and plan your cryptocurrency exchange app development.
Invest in efficient mobile app development solutions to launch a robust crypto app. If you are planning to hire an expert mobile app development company, X-Byte Enterprise Solutions can help you assess your app requirements and plan and implement a perfect app development process that offers a powerful crypto app.
To get started, simply get in touch with us to collaborate with trustworthy and reliable mobile app development services in the USA to assist you through the cryptocurrency app development process.