- Stat Check Before You Invest in Bitcoin App Development
- Developers Majorly Embed Three Major Sections in Bitcoin Mobile App
- User Panel (The Sellers and Buyers)
- Related Blog: eWallet Mobile App Development Cost & Features: Read It All Before Hiring a Developer
- Transaction Panel (Send/Receive Bitcoin)
- Admin Panel (Back Story) bitcoin developer cost
- Advance Features
- Read Also: The Ultimate Guide for Blockchain as a Service and its Business Benefits
- Technology Involved:
- Development Process
- Required Team Structure
- Development Cost Estimation – An Analysis
- The Final Words
“Bitcoin uses more electricity per transaction than any other method known to mankind, and so it’s not a great climate thing”
After Elon Musk declared that Tesla would accept Bitcoin as a mode of payment the bitcoin development team has seen a great demand. If you are looking forward to monetize on the trend then our blockchain solution providers can help you monetize the trends.
The evolution rate of bitcoin has left almost all the financial business verticals as well as customers spellbound and therefore, there has been a massive demand for the bitcoin based mobile apps. The adoption rate of digital payments is increasing at an impressive rate and the major reason that stands behind its loud dominance is, security.
Another reason that is adding to its popularity is that it is not controlled by any third party or governmental organization, thus the chances of getting it abandoned is least likely unlike the printed currency that can be banned by the governmental organization any time, and at the next moment, they can be said as completely useless.
Stat Check Before You Invest in Bitcoin App Development
Bitcoin rose to a worth of $60,000 when Tesla announced its plans to invest 1.5 billion USD in the technology.
Although Bitcoin can be traded on various independent channels, its prices around the world vary.
Hence, the concept of making digital payments is covering the business landscape and most of them are jumping into the surface for getting a highly functional Bitcoin mobile app. So, here find out the basic features and framework that a Bitcoin-based mobile app must have. Very first of all, it is important to conceptualize the basic ideology behind a Bitcoin-based mobile app.
Developers Majorly Embed Three Major Sections in Bitcoin Mobile App
When talking about the Bitcoin app development cost it majorly depends on various features and functionalities that your developers would integrate with it.
To make it easier for you to decide what you want to integrate with your application and what you want to skip, all you need to do is have a look at this feature list defined according to the aspect of the application being engaged with it.
User Panel (The Sellers and Buyers)
They will be using the application for selling and buying Bitcoin.
User Registration: Using this module, the user can create his/her account or can login with the social network or the email account credentials.
Manage Account: Once the user’s login into their registered account (after verification) they can sell and receive the Bitcoin. Other important information such as the number of Bitcoin available and the number of details are also displayed.
Buy Bitcoin: Under this section, the users can buy the Bitcoin. Information related to seller, BTC rate and the amount to be paid is displayed. They can accordingly request the deal for buying the Bitcoin.
Sell Bitcoin: This feature allows users to sell Bitcoin. It contains information such as BTC amount, rate and payment to be transferred.
Filtered Search: The users can filter their searches while buying the Bitcoin. They can select the amount range and the number of Bitcoins to be purchased for making the whole investment procedure very simplified.
Request a Deal: Once the deal is settled for buying the Bitcoin the user verification is done. In case, he/she found not verified, they are navigated to the original verification page.
Identify the Buyers: Under this section, sellers can view the list of buyers. It displays information such as the name of the buyer, the number of Bitcoins to be purchased and a deal number for verifying the transactions.
It is important that the features that you add here make it easier for the customers to make easy investments without compromising the safety and security of the amount invested.
Transaction Panel (Send/Receive Bitcoin)
When you work on how much does it cost to develop a blockchain app the most influential factor would be this segment where the users can send and receive the Bitcoin with the help of a wallet address. Every wallet comes with a unique address or a pin for verifying the transactions.
User Status: The user can check their account verification details, time and date of the registration along with the selected membership details.
Push Notifications: The notifications related to the new request, money transferred and received along with the transaction status are delivered to the users.
Admin Panel (Back Story) bitcoin developer cost
The cost of Bitcoin developer is highly dependent on the important features that the admin panel would include. Our Bitcoin app developers make it a point to deliver solutions that are easily operational for admin as they are for the users.
Dashboard and Login: The Admin will be able to login with all the credentials and can view the profiles of users such as their address, account registration date, Account Status etc.
User Management: Once the admin login with its own username and password, he will able to view the number of registered users, purchases made by the users and their total earnings.
Membership Management: All the membership packages that are availed by the users are managed under this category. The prices and the benefits associated with these packages are also managed and stored.
Advertisement Management: The advertisements that are posted are managed by the Admin. Information such as BTC rate, amount and other information is updated to the user.
Accept Pin Reset Request: Requests made by the users to reset the request are viewed and managed by the Admin. He/she can reset the pin and can share the same with the user.
Manage to Withdraw Request: The Admin will be able to track all the withdrawal details made by the user and stores the amount withdrawn for keeping the track.
Transaction Management : All the Bitcoin transactions made by the users are monitored. Information such as transaction ID, Amount and date and time of the transaction is noted.
Modify the Setting: All the information related to the Bitcoin such as the current rate, maximum and minimum amount to be transferred is changed by the Admin.
These are the basic features that our developers include in your application. We further share some advanced features that would make it easier for you to reach a larger audience and gain a loyal customer base.
Other than adding the basic features in a Bitcoin Mobile App, it is now the time to make it more embellished and furnished. The below features sheds some light on the concept of making Bitcoin Mobile App, a little more advanced and efficient.
QR Code Scanner: This feature is not any new to mobile app development but it helps for the apps that need to make payments on the go. Scanning QR code will save time and lessens the hassle of entering the long account numbers or account id for each single transaction. Just a scan and the user are ready to make the payment.
Push Notifications: Push Notifications is the most used feature for all mobile applications nowadays. Push notification is extremely helpful for an account and transaction-related apps. App developers can notify the user about any sudden price drop or increment. Users can also stay notified if anyone pays them any amount. Push notification helps in more user engagement and helps the users to stay connected with the latest activities of the app without opening it every single time. Cost of Bitcoin programmer is highly dependent on the expertise and the advancements of the general features that you would need to integrate.
Auto-Cancellation of the Payments Made Twice: The auto cancellation contributes great benefit to a Bitcoin mobile app. Especially, in case of the transactions, often the problem related to double payments arises. Hence, the duplicate request for the payment transaction is automatically deleted. This feature can be said as one of the most prominent features of any payment related mobile app. The mistakes associated while payment transfers are obviously a big deal for the users and this attribute comes out as a major rescue for handling the replicas of the transaction requests.
Optional Logout: The major reason why Bitcoin mobile apps are totally boon for the consumers is security. Integrating an optional logout option into the Bitcoin Mobile App is for sure very strong and sound ideation. The users in the case didn’t, logged out of their wallet, need not to worry. The app will automatically terminate the session as the time expires. Hence, it becomes impossible for strangers to use your wallet if your Smartphone misses or lost.
2-Factor Authorization: Adding 2-way authentication will probably raise the standards of the app and implementing it is sure a productive decision. Other than logging in into the account using the user name and password a second layer authentication is also required. The format of the second layer can only be opened by the user, none other than him/her can access the app. Might be the app require any physical detection or some set of questions, hence wallet owners can only open their respective accounts.
Recurring Billing and Invoicing: This one is definitely for those who are using Bitcoin wallets for their business. Recurring payments yes of gorse save the time and effort that goes into writing the long account details and numbers. The business trading parties that are linked with your app is paid automatically on the monthly basis. No need of keeping track or making the transaction is required. The Bitcoin Mobile app does it all by itself.
How much does it cost to hire Bitcoin developer is directly proportional to the technology stack that would be used in the app development process. Implementing the right technological standards is a must while developing a robust and sophisticated Bitcoin Mobile App. Making a bitcoin wallet app is slightly different from other mainstream applications. Mobile App developer needs to be aware of the technicalities and about the system that works before investing in this genre.
- helloblock.io: Used for generating the address and for making reliable transactions through Bitcoin wallets.
- toshi.io: It is an open-sourced ruby application written by Coinbase. It is a full bitcoin node and uses a Websocket API (for making the server communication easier).
- bitcoin-core RPC: The core bitcoin application can be run as a daemon and expose an RPC interface that is used for constructing distributed client-server based applications.
- bitcoin: The Java library that allows you to deeply integrate Bitcoin into your application.
- Robust framework (Laravel, CakePHP, Drupal) and Database (MongoDB, Mysql) to manage the data over the BlockChain API.
So, now you understand why blockchain app cost is a little variable. We at Octal IT Solution affirm that we would provide you with solutions that are interesting and affordable. We take your business like ours and make it a point that we deliver you the best at the most affordable rates.
Trending Technology stacks, features and now the development process. The development process is just another factor that may have some impact on the cost of the application.
Developing a Bitcoin Mobile App with the aforementioned features is definitely a very brainstorming activity hence; it is imperative that all the standardized approaches must be adopted before starting the Bitcoin Mobile App Development.
A huge amount of effort is required to be put into for constructing the planning chart in order to reap out with a highly sophisticated and functional mobile app. Thus, the development model for developing sound and quality Bitcoin Mobile App requires rolling over the stated below states:
Analysis: Often known as the basic building block step of the mobile app. All the basic requirements along with the specifications are laid down into this step. The features that are to be integrated and all the related documentation form a major part of this step.
Design: Upon finalizing the requirements and the basic features, the design standards are decided accordingly. The frontend designs must be tailored with the app ideology and all the graphical features embedded must be stitched to the features and the functionalities of the app.
Development: It can be a major turning point phase, where all the features that are designed and documented are developed and made operable as well while applying the concerned technologies. Right from the platform selection, until the integration of the features, all the developmental associated activities are carried in this step.
Quality Assurance: Upon the completion of all the development related activities, the app finally processes for bug testing. Standardized tools must be applied for verifying all the associated bugs and stringent measures must be adopted for fixing the same.
Launch: Once the app stands as a clear winner as per the testing guidelines it is processed further for deployment on the concerned App Store. Needless, to say an app refined out of the above phases surely stands out to be the true winners on the grounds of performance and quality. Therefore, it is imperative to find out the best Mobile App Development Company such as Octal IT Solution that can engineer the best in class mobile apps, for making your business abreast in this hyper-competitive market place.
With a well-defined development process, it is important that the team structure is equally well-defined. If you want a Bitcoin app development team that comes with a transparent team structure then you are at the right place.
Required Team Structure
For producing and crafting out the best and excelled mobile app certainly, you will require the proficient mobile app development partner, with a highly skilled pool of developers, designers, and testers. Therefore, it becomes very important that you select the deserving and experience-rich candidates that are imbibed with true potential and caliber for developing your app. Below are the key persons that you must hire for converting your app idea into reality:
Project Manager: Definitely for this position the person should owe extraordinary skills and should master the art of developing the right and perfect mobile apps and able enough to dominate the mobile industry landscape. She/he should be able to figure out the best-optimized solutions and must have a good command over managerial skills.
Developers: Developers can be said as the real key persons and the creators of the mobile app. They are the ones who take the ownership of developing your app and know all the correct and perfect solutions for making your app, such that it achieves remarkable success amongst the tuff competition prevailing out there. Of course, the technical team must be comprised of both iOS Expert and Android App Developers headed by skilled and experienced project managers.
Designers: Certainly they are the ones that showcase your app. The more beautifully it is designed, the more users it will capture. Nevertheless, your app may master the coding standards but if it fails to allure users, the probability of getting it uninstalled raises up. Therefore, you need to have expert UX/UI designers for selecting the out of box design elements and backgrounds displays.
Testers: One will even need a team of testers to point out the small flaws of the app before launching it officially. Though it is a continuous process and plays an integral part in maintenance. Due to intense competition, the concerned app developer cannot even take the risk of any single bug in the application as it may lead to a loss of potential customers.
At Octal IT Solution, we make it a point that when you hire a Binance app developer we would share a transparent team structure so that you can communicate with the right people at the right time.
Development Cost Estimation – An Analysis
Now that one had an idea about the technology stack and the Mobile App development team. As this bitcoin app is a far more complicated than other applications in the market, it also reflects the App Developer charges. If they (app developers) take around $50 per hour basis, then below is the estimation for the Coinbase and Blockchain app. For our calculation, we can take $50 as the median per hour rate.
So more or less, it will be in the range of $70,000 to $90,000. However, one should keep in mind that this is just an approximation only if the cost is $50 per hour. Companies on the eastern part of the globe charge more that ranges from 70 to 100 dollars per hour. Whereas in European countries the app developers there may charge around $30-80 and in countries like India it is the lowest that starts from $20 to $50 per hour.
The Final Words
When it comes to talking about the Bitcoin app development cost, it is a little huge investment to make. But with the tech giants showing interest in the field and the growth prospect, it offers the revenue would be worth every penny that you invest.
If you are looking for the right tech partners to hire for Bitcoin app development process then we surely would be happy to help you through the journey. Connect with us and share your idea and our experts would reflect on screen exactly what you have in your mind!