The cryptocurrency market continues to grow and make a remarkable exposure. The trading trend has gained momentum and helps traders make significant profits assorted on what they have invested.
Crypto is highly eruptive, and investing in it can be a roller coaster journey for businesses. Government or third party does not control it. The transactions using blockchain are recorded in a public ledger without any third-party intervention.
The trading platforms offer opportunities for businesses, app developers, and traders to grow and rise in the business landscape. The future of crypto is bright, promising, and yes, it is the right time for businesses to invest in the same. The blog covers every aspect that helps businesses develop a robust cryptocurrency application.
Market Statistics of Cryptocurrency App
The crypto market is on the rise, and by 2023 it is expected to reach $23.3 billion. As per a report from MarketandMarkets, the cryptocurrency market is expected to grow by 7.1% and its value will reach around USD 2.2 billion.
After the wide popularity of Bitcoin and Ethereum, people investing in the crypto market are on the rise.
The evolution of crypto shines bright and touches new heights among all age groups and interests.
As per a report from Statista, the United States is one of the biggest investors in bitcoin and has the highest volume.
Bitcoin is one of the most popular used electronic money and controls over 70% of the cryptographic money and the business.
Bitcoin had a capitalization of $1072.21 billion as per a report from 2021
Here is a glance at the most popular and known cryptocurrency trading platforms based on the global cryptocurrency exchange.
Workflow of the Cryptocurrency Trading App
Crypto is one of the widely known digital currencies launched by blockchain software, regulated by decentralized systems and software. Making financial transactions has become much easier with cryptocurrency, and even possessing minimum knowledge works well for the users.
Users can avail of the public and private keys to receive the crypto, and the keys are highly secure as they are password generated. But how does the cryptocurrency trading app works? Here is a guide.
The very first thing the users perform is to download the application. The application acts as an intermediator that helps users leverage the benefits. The user can sign in to the app and create their brokerage account.
Account creation is simple for other platforms and includes filling in the relevant information like name, e-mail, phone number, PAN, and more. You can add your bank-related information, add your card details, UPI also.
After account verification, the real trading begins. You can choose the cryptocurrency you want to invest in by yourself and make an investment.
They can analyze the growth or decline of the crypto and based on the research make a relevant decision. Investing in crypto can be a risky process, and for beginners, you can take a guide to understand the process and plan your investment accordingly.
How does the cryptocurrency trading app make revenue?
The app is for the users to make financial transactions with ease. It continues to attract a wider base of users. But what about the monetization strategies of the business owners?
Here, let us understand how businesses make the crypto app their source of revenue.
In-app advertisement is one of the common and most popular monetization methods used by trading app developers. For all the applications with a broad user base, you can promote other services/products within your app. It can be their banners, images, ad-text, links. Whenever the users are redirected from your platform, you can earn a good amount on it.
2. App subscription
When your application gains popularity, you can go for the introduction of the package. Here the users can buy the subscription packages and enjoy extra benefits. Offering this USP helps cryptocurrency applications to stand out from their competitors.
3. Freemium model
Always begin with free, and once you have established your brand identity, you must introduce your products or services with premium features. Let them enjoy the premium set of services that helps you generate revenue for your application.
4. Affiliate Marketing
With affiliate marketing programs, you can offer links to the products and services page of the advertiser.
5. Transaction cost
Traders need to pay a certain amount of transaction fee that helps you earn revenue via your cryptocurrency application.
Top-notch benefits of Crypto app development
From security to the reliability, these apps offer several benefits to the users, and here a the most precise one.
1. It is a secure platform
Blockchain offers robust security that almost every user looks for. You can develop blockchain applications using a series of interconnected blocks that contributes to its overall security.
2. Reliable Platform
The constructive nature makes it reliable and tamper-proof. These are the most desirable and hard-to-come-by traits in the mobile app.
Decentralization is one of the advantages of employing blockchain technology, as it allows easy management of data by the app owner and users.
4. Fairly Simple Platform
Last but not the least, using the cryptocurrency platform for app development is relatively simple compared to the other platforms. These qualities make blockchain the most popular choice for both developers and users.
Also Read: Creating A Blockchain Wallet In 2022: A Comprehensive Guide
Features that make the crypto app stand out
Implementing the right set of features plays a crucial role in making your platform more popular. Here is the set of features you must not forget to add.
1. Selling and Purchasing is easy
A cryptocurrency trading platform is your marketplace for selling and purchasing crypto coins. When it comes to developing selling, and purchasing the app, you must be careful with the UI and, ensure using the one that can meet all the user end needs.
2. Currency Exchange
If your application includes the exchange of cryptocurrencies, you end up becoming a strong contender in the trading platform. Moreover, you get to enjoy the exciting deals and offers that ease the cryptocurrency exchange while adding value to your offering.
For the users to engage in direct interaction and communication, it is vital to offer push notification features. It keeps the user updated on all the things including the growth of cryptocurrency they invested in, decline, offers, and more.
4. User Authentication
User authentication, especially for every fintech platform, is the key. Cryptocurrency investment is a sensitive matter, so it becomes an absolute necessity to offer maximum security and follow all the user identification standards.
Offering a centralized space in your application for the users where they can review their deposit history, earnings, investments, and activity log is vital.
As we conclude, hope you are clear with the roadmap on how to build a cryptocurrency application that brings you maximum results and users. If you are looking forward to developing an amazing trading platform that is customer-oriented and generates revenue, you can reach out to us.
Discuss your app idea with our experts and create your elite application with ToXSL!