A cryptocurrency is a digital form of currency that is also known as digital assets. It is designed to be used as the intermediate exchange medium with the help of cryptography to secure the transactions and control the gathering of the currency.
The concept of cryptocurrency has become a global phenomenon and considered the future of money. Bitcoin was the first decentralized digital currency. It was backed with the pioneer security features which revolutionized the financial industry.
The success of Bitcoin gives birth to many other cryptocurrencies such as Dogecoin, Litecoin, Ripple, Quark and many others to name. Many individuals are willing to make cash out of the cryptocurrency market in many different ways. One of the most profitable ways of doing so is through cryptocurrency development services. By investing in cryptocurrency app development, you will become future-ready.
Here in this blog post, I am supposed to talk about how you can avail highly secure and reliable cryptocurrency development services for your business. But before that, we advised you to understand how cryptocurrency works?
What is Cryptocurrency and How it Works?
Cryptocurrency, in general words, is an electronic currency that can be traded through the smartphone or desktop. It relies on high-end encryption to create funds by a virtual transaction.
One of the best things about cryptocurrency is that it is not controlled by any government bodies that keep the details of all the transactions happening on the platform, though it becomes hard for hackers to hack the platform. The security and safe transaction is the most talkative feature of cryptocurrency.
All the transactions that happened between two individuals are broadcast to the entire network of cryptocurrency, and later these transactions are approved by the miners. Miners are the ones who approve the transactions and make them legitimate.
How to Start With Cryptocurrency App Development?
Developing a cryptocurrency app is not an effortless task. There are a lot of things that need to be taken into consideration at the time of cryptocurrency app development. Below we have mentioned all the steps involved in developing a cryptocurrency app.
The first thing you need to do while developing a cryptocurrency app is market research. You can start your research with competitive analysis and user interviews. For those who are unfamiliar with competitive analysis, it is the process of finding potential competitors and analyzing their marketing strategies. This gives you an overview of the market and lets you determine the scope of your cryptocurrency app development. We advise you to dig deep into the other cryptocurrency apps to see what functionalities they are offering and how many cryptocurrencies they support. You can evaluate these things and make your application stand out in the market.
2. Project Planning
Once you have understood the market and scope for the cryptocurrency application market. You need to decide on what functionalities you want to incorporate with your application.
One of the major things you need to consider is whether your app will be available on both mobile and desktop and this is going to help you figure out the right technology stack for your application. If you are going to make a cryptocurrency exchange app for smartphones, then it is strongly recommended to make it for both Android and iOS devices.
>>>Read More : How Much Does it Cost to Develop a Bitcoin Wallet App like Coinbase?<<<
Also, you need to consider complying with the rules and regulations made by the government regarding cryptocurrency development services. After this, you need to decide on your cryptocurrency app revenue model. You can opt for the traditional revenue method in which you will charge a certain commission on every trade. If you have enough funding to run the operations of the cryptocurrency exchange app, you can go for a commission-free model to attract customers to your application.
3. Technology Stack
Java and Node.js are two highly used programming languages for backend cryptocurrency app development. Angular and React Native are two two front-end cryptocurrency app development languages. React Native comes in used to build an application that can be used on both Android and iOS devices. Besides these, you also need to integrate a payment system such as Coinfy or Bitpay.
4. Build a Development Team
So, now as you have recognized the features and functionality of your cryptocurrency app. The next step is to build your development team that can put all of these features together in your application. You can either hire a freelancer or a cryptocurrency development company depending on your budget. However, if you want a high-quality product, then we highly recommend you to choose a development company like BR Softech because they have the right team of designers, developers and testers to cater to all your needs.
>>>Read More: Bitcoin Exchange App Development : How to Save Coins Fast<<<
5. Develop a Prototype
Developing a prototype of your cryptocurrency app will come in handy for a lot of reasons before you release your final product on the market. You can make the application available for a few limited users and ask them to share their reviews on the functionality of the app. Cryptocurrency development companies can take the help of tools like Invision to develop the prototype of your application.
6. Final Development Stage
Once you have done all the above stages, the app development comes into action. Developing an app for Android and iOS might take some time between 5 to 6 months. However, the concept of cryptocurrency is new and complex as well. So it might take a longer time than you can expect, we advised you not to cut down any corner and make a mistake in development, to reduce the development time.
Once the development process is complete, your application needs to be tested for security, features and functioning. This will ensure the smooth working of your application on all devices.
Features to be Considered While Developing a Cryptocurrency App
Developing a mobile app might seem an effortless task but when you develop an app that deals with cryptocurrency then many things matter. Here at BR Softech, we have gained ample knowledge of developing a cryptocurrency app with perfection. The following are some of the most essential features that need to be considered at the time of cryptocurrency app development.
- Enable users to sign up using their social media, account, email or phone number.
- Give users access to real-world market states.
- Allows users to watch international cryptocurrency prices.
- Trace the value of cryptocurrency in multiple currencies.
- Search option to select from all available cryptocurrency.
- Provide organized information with the help of filtering and shortening coins.
- Push notification for live update.
- Provide an easy and fast way to exchange currency.
- Real-time refresh feature.
- Multi-language support.
- Attractive and responsive cryptocurrency app development.
Top 3 Cryptocurrency App Development Companies
This is one of the toughest parts of cryptocurrency app development. The quality of your product entirely depends on the company you have chosen. To ease you in your search for the best cryptocurrency app development company, below we have composed a list of the 3 best development companies available in the market and backed with the latest and innovative technologies.
1. BR Softech
BR Softech has gained worldwide acceptance for offering cryptocurrency software and app development services. The company believes in offering highly secured, optimised and scalable cryptocurrency development services. The company backed with the latest and innovative technologies to bring your imaginary ideas into reality.
BR Softech cryptocurrency development services including cryptocurrency consultation services, cryptocurrency wallet development, cryptocurrency exchange app development, Bitcoin software development, cryptocurrency mining services and so on.
BR Softech secured first place in this list for a reason. The company works on the tested and successful model to satisfy the client’s requirement. The company is also equipped with 24 hours customer support services to ensure customer satisfaction.
2. Osiz Technologies
Osiz Technologies provides a plethora of cryptocurrency development services well crafted for both entrepreneurs and startups. As a leading Bitcoin development company, the company has expertise in developing cryptocurrency wallets, exchange platforms, and so on. 24*7 customer support services and unparalleled technical expertise is what makes Osiz Technologies superior in the market.
The company spends enough time on understanding the client’s needs and then takes suitable steps to make 100% highly securable cryptocurrency development services.
3. Blockchain App Factory
Blockchain app factory has expertise in developing custom altcoin & cryptocurrency development services from a team of experts. By utilizing the innovative technologies, the company can develop advanced cryptocurrency app development solutions to give you the power to stay ahead of the competitions.
The Key Takeaway!
The emerging popularity of cryptocurrency has resulted in the increased demand for cryptocurrency app development. As you can see, there are plenty of things that need to be taken care of while creating a cryptocurrency app. Investing in crypto app development will bring a lot of benefits to the other players. So without wasting time, partner with the BR Softech crypto app development company and build a secure cryptocurrency app to give a boost to your business.
BR Softech Pvt. Ltd. excels in providing cost-effective IT Solutions. Established in August 2010 with over 10+ years of rich experience. An Apex rated IT serving company around the world. Our team of innovative and creative designers deals in web designing, mobile/ software development and other digital marketing services intending to deliver outstanding digital outcomes.