After Musk’s tweet, Bitcoin rose 5.1% to $37,360.63, adding $1,817.87 to its previous close. And with another tweet, the value of Bitcoin crashed. Since the event, many investors have been looking forward to earning better cryptocurrency exchange solutions that would make it easier to understand and invest in the crypto market. Crypto has been in the market for a long, Elon Musk bringing Dogecoin, Litecoin, and Bitcoin in his tweets has stirred the way the world looks at digital currency.
Following the trend, fintech app development companies are investing in cryptocurrency exchange app development to secure top place as cryptocurrency exchange app platforms. App Development companies are also working to bring innovation to the crypto exchange app development process.
- Types of Trade available on Cryptocurrency Exchange Platform/App
- Types of Crypto Exchange Platforms
- Why Invest in Cryptocurrency Exchange App Development
- Crypto Exchange App – White Label Vs Developing From the Scratch
- What Is Crypto Currency?
- How Does P2P Crypto Exchange Platform Work?
- Top Features to Consider for P2P Crypto Exchange App Development
- Top Crypto Exchange Mobile Apps to Inspire You Build One
- What Tech Stack Required for Crypto Exchange App Development
- The Crypto Exchange App Development Process
- Cryptocurrency exchange app development cost
- Wrapping It All Here!
Our p2p Cryptocurrency exchange app development company has helped its clients develop cutting-edge Crypto exchange platform solutions that would make it easier for investors to utilize and explore the opportunities the Crypto exchange platform offers.
Although not many know about its functioning and working, they would love to invest in the Crypto exchange app development technology for the future it has to offer.
Types of Trade available on Cryptocurrency Exchange Platform/App
Since every cryptocurrency exchange app like Binance has a different requirement and service, we have six kinds of trades available in the cryptographic money market. They are
- Half and half crypto trade
- Advertisements-based crypto trade
- Centralized crypto trade
- Orders book crypto trade.
- P2P crypto trade
- Decentralized crypto trade
Out of these, you can enter the market with a solution that talks about all of it as a whole unit, or you can choose the one trading type that you may want to offer. Our expert crypto exchange app developers have worked on these solutions for years and can help you enter the market with technologically advanced solutions.
Types of Crypto Exchange Platforms
Centralized Crypto Exchange Platform
This platform is a widely used cryptocurrency exchange that facilitates swift buying and selling of various crypto assets. A third-party operator ensures security for the buyer’s and seller’s assets and transaction monitoring. Unlike blockchain-based exchanges, the Centralized Crypto Exchange Platform (CEX) utilizes IOU-based systems.
Decentralized Crypto Exchange Platform
Decentralized Crypto Exchange Platforms (DEX) operate without any third-party involvement. All user funds are securely stored on the blockchain, utilizing assets, proxy tokens, and escrow systems for peer-to-peer trading.
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Peer-to-Peer (P2P) Crypto Exchange
Platform Eliminating the need for intermediaries, the Peer-to-Peer Crypto Exchange Platform enables users to engage directly in cryptocurrency transactions. This decentralized approach enhances transaction speed and security, providing users with easy and direct access to the exchange.
Instant Crypto Exchange Platform
Instant Crypto Exchange Platforms offer a solution for users seeking immediate cryptocurrency exchanges. These platforms provide access to various trading pairs through a central service. Registration of a trade order is all that’s required, as the execution happens instantly, making these platforms user-friendly for quick transactions.
Why Invest in Cryptocurrency Exchange App Development
As of January 9, 2024, the most substantial cryptocurrency exchanges globally, measured by their 24-hour trade volume, are as follows:
Crypto Exchange App – White Label Vs Developing From the Scratch
Therefore, know the usefulness behind these trades and pick the best trade that suits your business interest. Additionally, beginning a cryptocurrency exchange platform on a brought-together or a decentralized stage will be the most ideal decision. In that sense, there are two choices:
- White Label Crypto Exchange App or Ready-made Crypto Trade Stage: The cryptocurrency exchange solution should be under your brand name. We would develop a platform for the exchange, and you would market it as yours.
- Crypto Exchange Development from the Basic: You let us know your requirements, and we will develop a cutting-edge Crypto Exchange Application that is customized and designed to suit your needs
Our experts can help you with cutting-edge peer-to-peer cryptocurrency exchange app development at a reasonable cost and with detailed interaction. We understand how important it is for you to be a part of the development process, especially when the market you are aiming for is extremely competitive.
What Is Crypto Currency?
Cryptocurrency is a kind of digital money that can be used for any service and product. Various organizations worldwide have shown their trust in this real time transaction technology and entered the market with their standards or tokens that can easily be used explicitly for the organization’s products and services. Consider them: you would have arcade tokens or club chips. You’ll have to trade real money for digital currency to avail what you want.
Digital currencies are implemented using complex blockchain technology. Blockchain is a decentralized technology that spreads across numerous PCs, overseeing and recording exchanges. Part of the allure of this innovation is its security.
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How Does P2P Crypto Exchange Platform Work?
To understand the functioning of the peer to peer crypto exchange platform, you would need to have a basic knowledge of what cryptocurrency is and how it is managed.
The cryptocurrency exchange app development team shares the basics of working on the platform.
Well, the digital money market is a decentralized concept where the money is not given or offered to anyone in particular, like other currencies. All things being equal, they stumble into an organization of computer systems. Be that as it may, cryptographic forms of money can be purchased and sold using trades and put away in ‘wallets’.
In contrast to customary monetary standards, cryptographic forms of money exist just as a common advanced record of proprietorship put away on a blockchain. When a client needs to send cryptographic money units to another client, they send it to that client’s computerized wallet through real time transaction. The exchange isn’t viewed as last until it has been checked and added to the blockchain through an interaction called mining. This is additionally how new cryptographic money tokens are normally made.
Once you have installed the application, the investment process will start. It seems a little complex, but our experts ensure you do not face any issues when understanding the concept.
Crypto exchange app development process
- User Registration: After installing the product, you must register with the application. Create an account with the details asked to verify you are an authentic user.
- KYC/AML Verification: We make it a point that user authentication is done in multiple steps to ensure there is no loophole and not the slightest chance of an intruder being a part of the process.
- Place Your Order: Once the user is verified, they can choose from the token list the cryptocurrency they want to invest in and choose the value with the application.
- Create a Wallet Address: Once you have selected the order you want to place, we will take it to create a wallet address similar to any UPI ID you use for online transactions.
- Order Verification: The order is matched between the seller and the buyer. When the seller and the buyers confirm the transaction amount and that it is working, they can move forward.
- Confirm Order: Once the seller and the buyer confirm the order, the order is placed. Both parties must confirm the order. Then, only any transaction would be made. If any of the parties decline, the order will not be placed.
- Assets Sold: The smart contact-based escrows hold the assets to be sold. Thus, evaluating its value and putting it in the market and other details are all cross-checked and verified for the best results.
- Make Purchase: The buyer next pays for the purchase that is made. It could be deducted from either the linked account or the credit card.
- Confirmation: The seller confirms the purchase, and thus, the tokens are credited to the buyer’s account.
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Top Features to Consider for P2P Crypto Exchange App Development
When you reach our cryptocurrency exchange app development services, our experts strive to deliver interesting, safe, and secure crypto exchange solutions. Over the years, we have been working on blockchain technology and understand the complexities involved with the solutions. To ensure your P2P Cryptocurrency Exchange solution stands ahead of the competition, we go the extra mile and deliver unique and advanced crypto exchange app development services. Let’s explore key features we consider during crypto exchange app development.
Multiple Cryptocurrency
There are over 10,000 types of cryptocurrencies that are traded globally. Some of the most popular are Bitcoin, Ethereum, Dogecoin, etc. With our cryptocurrency exchange solutions, you can transact in any of these. We ensure you do not have to shuttle between applications for various cryptocurrencies.
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Multi-lingual Support
Connect with the application and choose your native language to engage. Read the terms and conditions in the local language to understand better. As cryptocurrency has gained popularity over the years, we have made it a point to integrate local languages to better understand the end-users.
Dominant Trading Exchange
Highly secure trading platform that helps you make safe transactions. Our experts use advanced technology for the solutions. Octal IT Solution’s crypto wallet development team makes it a point to bring on-the-screen, interesting, and engaging solutions.
Automated ID Verification
Automated KYC/AML verification lets the admin find the right users quickly and efficiently for better solutions. However, these solutions are quite complex and cannot be accessed without verification.
Crypto Swaps
Our solution offers a reliable trading process that would eliminate the interruption of any third party in the buying process. We make it a point that when you reach out to us for crypto solutions, you get a product that does not involve third-party intervention, as it could threaten the security and safety of end-users investments.
Payment Gateway Integration
As we have built some world-class e-wallet solutions over the years, we understand how important it is to integrate a reliable and credible payment gateway with your solutions. Our cryptocurrency exchange solutions allow end-users to send and receive currencies easily via a safe and secure medium through the platform.
Multi-Factor Authentication
Another step to maintaining the security of the application. We ensure you are always notified of any development via email or Google 2FA. These services are available for users and admin.
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Multi-Currency Wallet
Store various currencies in the same wallet. Our safe and secure solutions make it easier for you to explore the right aspects. We understand that multiple investments would reflect in multiple returns and ensure you can invest on various channels when making investments.
Preferred Trading
End users can always select their preferred sellers to make earning the highest profits easier in a limited time and ensure smooth trading results. You need not bother about the authentication and credibility, we bring solutions that are well tested and worked on before they are delivered to you.
These are a few software features that our p2p exchange crypto experts integrate with your product. The development process of crypto solutions is quite complicated and takes a little longer than other ewallet app development processes. Our experts make it a point to deliver solutions in the minimum time to ensure your time to market is less.
Top Crypto Exchange Mobile Apps to Inspire You Build One
Coinbase
Coinbase, founded in June 2012, is a widely used cryptocurrency exchange platform with a user-friendly mobile app available on both iOS and Android. The app has garnered millions of downloads, offering a seamless interface for users to buy, sell, and manage various cryptocurrencies. Headquartered in San Francisco, California, Coinbase provides a secure environment for trading digital assets and has become a popular choice for both beginners and experienced crypto enthusiasts.
Binance
Launched in July 2017, Binance, a major player in the cryptocurrency space, provides a robust mobile app compatible with iOS and Android devices. Known for its global presence, Binance’s app has witnessed millions of downloads, allowing users to trade an extensive range of cryptocurrencies. Originally founded in China and later relocating to Malta, Binance offers a diverse range of features, including spot and futures trading, making it a go-to platform for those seeking a comprehensive crypto trading experience.
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Crypto.com
Established in 2016, Crypto.com has gained popularity with its mobile app, catering to various financial services beyond traditional cryptocurrency trading. Available on both iOS and Android, the app has seen millions of downloads. Based in Hong Kong and operated by Foris Inc. (formerly Monaco Technology GmbH), Crypto.com, led by CEO Kris Marszalek, offers features such as crypto payments, a Visa card, and a diverse range of financial products, making it a versatile platform for users looking to engage in both crypto trading and broader financial services.
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What Tech Stack Required for Crypto Exchange App Development
Front-end Technologies for cryptocurrency exchange app development
- Programming Languages
- React Native or Flutter: These frameworks allow for cross-platform crypto exchange platform development, enabling you to build for both iOS and Android with a single codebase.
- JavaScript (React or Angular): If you opt for native development using Swift (iOS) and Kotlin/Java (Android), the programming languages for the respective platforms will be utilized.
- User Interface (UI)
- HTML5, CSS3, and JavaScript: Standard technologies for building the user interface.
- Authentication
- OAuth 2.0: For secure and standardized 2-way authentication.
- Biometric authentication: To enhance security using fingerprints or face ID recognition.
Back-end technologies to create crypto exchange wallet app development
- Server-Side Development
- Node.js, Django: Depending on the developer’s preference and expertise.
- Database
- MongoDB, PostgreSQL: To store user account details and transaction history securely.
- API Integration
- Cryptocurrency APIs (e.g., Coinbase API, Blockchain.info API): To integrate blockchain-related functionalities.
- Payment Gateway APIs: For real-time transactions and fiat-to-crypto conversions.
- Blockchain Technology
- For Bitcoin: Bitcoin Core or libraries like BitcoinJ.
- For Ethereum: Web3.js for JavaScript or ethers.js.
- Security Tech Stack
- SSL/TLS: To secure data transmission.
- HD Wallets: For generating multiple addresses from a single seed phrase.
- Multi-signature Support: Enhanced security by requiring multiple private keys for a transaction.
- Cloud Services
- AWS, Azure, or Google Cloud: For hosting, scaling, and managing the server infrastructure.
- Notifications Technologies
- Firebase Cloud Messaging (FCM) or Pusher: For real-time notifications. Connect with top-rated mobile app development company for Crypto exchange app development services.
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The Crypto Exchange App Development Process
When we talk about p2p cryptocurrency exchange app development, it is ladened with features and functions one cannot imagine. Working on the product needs a lot of energy and involvement, and our experts make it a point to deliver interesting and noteworthy solutions. If you are looking for solutions to make things easier, then you are at the right place. Here’s how our experts explain the development process.
Step 1: Ideation
Our experts research, analyze the market, gather the required details and verifications, and exchange the readied documents with you. They make it a point to prepare a document that dives into your solutions and reflects how the product aligns with your business model and what technology we recommend using in your solutions.
Step 2: Design
A prototype is prepared to ensure you understand how things would work. All the elements would be on the screen to better comprehend the application. Not just this, the UI/UX experts finalize the product idea with your constant input so that the solution looks exactly how you wish it could be.
Step 3. Development
Once everything is finalized from your end, the next step is to bring on the stage solution that is easy to understand and reflect on the screen, a solution that earns you the best results. Trading engine installation and other integrations would take place at this step.
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Step 4. Integration
Integrate various blockchain solutions with the product. Our expert blockchain solution providers make it a point that the solutions we are working on are tried tested and technically advanced to compete in the future market.
Step 5. Listing Tokens
When you contact us for p2p cryptocurrency exchange solutions, we ensure the tokens to be included are listed correctly. We understand that your end-users would invest in various currencies, and thus, the token list needs to be updated as and when required.
Step 6. Deliver the Solution
Once we are done with the exchange program, we make it a point to deliver interesting and engaging solutions. With all the features and functions being tested for perfect execution, we ensure you get a flawless and well-developed solution.
P2P Crypto Exchange Development is quite a complicated process, and our experts make it a point that the development is transparent to ensure you can be a part of the process, too. With their expertise, they deliver highly rewarding solutions that can help you have a strong presence in the crypto market.
Cryptocurrency exchange app development cost
When discussing solutions based on cryptocurrency, it is important to understand that the development cost is a little higher than the normal on-demand applications as it involves mining and other processes.
The cryptocurrency exchange development cost is majorly defined by
- Location of Outsource Firm
- Features Integrated
- Security and Safety Factors Added
- No. of Developers Employed
In general, the cost of crypto exchange app development may range from 70k USD to 150k USD, which would help you earn the best results in a limited time. If you are looking forward to earning great profits and entering the market with a platform that would help you stay in the market in the long run, then you are at the right place.
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Wrapping It All Here!
We have offered a p2p cryptocurrency exchange platform over the years. We have been in the market for around a decade and understand how the market has grown to be a huge hub of tech geeks. With the technology evolving every moment, our experts make it a point to deliver solutions that are interesting and engaging to keep you connected. The experts have offered our flexible and future-ready cryptocurrency exchange platform solutions for the best results.
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