Must-Have Features For Your Cryptocurrency Trading App
Globally there are approximately 300+ million cryptocurrency users. Are you thinking of leveraging this market by developing a crypto trading app? If yes, you have come to an insightful blog to integrate must-have features for cryptocurrency trading apps.
In the past few years, cryptocurrencies have showcased their value by taking the entire digital world by storm. As per crypto specialists, cryptocurrency can transform economic development throughout the globe by delivering more straightforward access to financial solutions.
According to Fortune Business Insights, the worldwide blockchain market is forecasted to reach $163.83 billion by 2029, indicating a CAGR of 56.3% during the projection period.
For people looking to earn profits through the booming crypto market, it is the best time to invest in cryptocurrency trading app development and become a market leader in this niche.
With more and more people using cryptocurrencies, crypto apps should incorporate unique yet simple features to assist their users.
This blog will discuss seven features a crypto trading app should have to attract a massive audience.
So, let’s dive in.
Top 7 Features to Include in Cryptocurrency Exchange Development App
1. Simple and In-depth Tutorials
Crypto trading apps can be tricky for newcomers looking to get started. The complex UI of apps and complicated crypto charts can discourage people who don’t know.
If you want to create a new crypto app, you must ensure your app is fitted for experienced traders and newbies trying to trade.
You can include specific tutorials on buying and selling cryptocurrency articles on candlestick charts, and an entire category of blogs for beginners can encourage their crypto journey.
2. Trading Engine
A trading engine is one of the crucial features of a cryptocurrency trading app. It provides data about prices and commissions, displays prospects for a transaction, presents offers and bids, makes schedules, etc.
The trading engine operates:
- Executing Transactions
- Calculation of Balances
- Compare buying and selling transactions
- Match the buying and selling transactions
- Make calls to access the order books
Building a trading engine is one of the most demanding tasks of the crypto app. You would require a skilled cryptocurrency exchange development company to apply the proper logic for trading and create a compelling architecture.
3. User Interface
User Interface contains all the app elements directly interacting with the user. When creating a cryptocurrency app, you require making a user-friendly interface that is comfortable to comprehend and interactive to operate.
Cryptocurrency trading app dashboards must contain quick access to crypto trading features like:
- Observing market positions
- Create and cancel orders
- Viewing order history
- Funds withdrawal
- Helpdesk and support
The wallet is also a critical feature of a crypto trading app. It helps users to transfer, receive and save virtual currencies. A wallet must have the following functionalities:
- You should incorporate a multi-wallet feature to support different kinds of transactions.
- For buying and selling cryptocurrency in real-time, you must integrate trading app with leading banks and payment gateways.
- It would be best if you gave multiple options for withdrawing and depositing amounts, such as transfer, QR code, ATM, etc.
There are two types of bitcoin wallets, i.e., hot wallets and cold wallets. Let’s know both the wallets in brief:
- Hot Wallet
Even though hot wallets are simple to use, they possess high risks regarding users’ data and privacy. These wallets are more susceptible to attacks by cyber criminals and other malicious hazards. Hot wallets are mainly connected to the internet; that is why they are not secure.
- Cold Wallet
Cold wallets save cryptocurrencies in offline mode, thus delivering enhanced security. Therefore, users should be capable of transferring funds from hot wallets to cold wallets and vice versa to protect their wallets from getting hacked.
5. Two-Factor Authentication
Security is the most critical ingredient for any application. A crypto trading app with two-factor authentication login can safeguard users’ important details against malicious attacks.
So, a blockchain development company should be able to build a crypto app that sends a code to users’ phones as a text message or email for accessing the wallet.
Two-factor authentication also safeguards users if they have revealed their password to someone. Moreover, an email should to sent to users regarding the login if their crypto wallet is accessed from an anonymous IP address. It can save your users against people attempting to acquire unauthorized access to their wallets.
6. Smart QR Scanner
Integrating a smart QR scanner will help differentiate between various OR codes in your trading app. It can be utilized to link the exchange to crypto wallets, transfer funds, and withdraw funds.
Furthermore, you can quickly and easily get the information related to past transactions, simplifying the entire check and balance procedure. You can seek assistance from an app development firm to integrate a smart QR scanner into your cryptocurrency app.
7. Push Notifications
There is no surprise that the cryptocurrency market is unstable. You can see rampant growth in your investment or encounter significant losses in a fraction of a minute. Here, push notifications can be helpful for you and users as they will assist you in maintaining interaction with users.
Keeping track of your crypto coins can be problematic and exhausting if you are not a full-time trader. Thus, push notifications can send alerts related to coin listing, market changes, price changes, etc. It enables traders to be updated with price volatility instantly.
Benefits of Cryptocurrency Exchange Development Services For Catering Your Business Needs
1. Scalable Architecture
Cryptocurrency exchange development services are capable of building intuitive and engaging trading apps to reach a much wider audience.
Experienced and skilled app developers build cryptocurrency solutions for web and mobile to ensure a seamless user experience.
3. Multi-layer Security
Blockchain app developers leverage SSL, two-factor authentication, encryption, etc., to create highly secure solutions.
There are many crypto apps in the market; however, only some have made their mark. Crypto trading apps have two main objectives: to make the life of users convenient and streamline the trading procedure.
If you are considering having your cryptocurrency trading app, you can take the help of the best crypto app developers that provide easy, secure, instant, and effective trading.
Tom Hardy has 10+ years of experience as a software developer in SparxIT. He often writes blogs and journals to share his expertise for a reputed cryptocurrency exchange development company.