7 Features Of Cryptocurrency Exchange Applications

As the cryptocurrencies are becoming more and more generic, it has eventually led to the rise of many supporting apps and technologies. Cryptocurrency exchange application is one of them. As the name suggests, it is a software solution that provides a platform to facilitate the convenient exchange of cryptocurrencies.

To Develop Your Crypto Application, there are certain things that should be kept in mind. 

This article covers one important aspect of cryptocurrency exchange software, i.e., must-have features. 

What is a Cryptocurrency Exchange App?

A cryptocurrency exchange app is a platform that allows the user to buy, sell, or trade cryptocurrencies. The type or number of cryptocurrencies that a cryptocurrency exchange platform supports vary from app to app. 

There are a few things that you should know about the cryptocurrency exchange platform development to enrich the user experience-

  • The app should be user-friendly in nature.

  • It should facilitate secure transactions.

  • The transaction fee imposed should neither be too high nor too low; it should be precisely calculated.

  • The app should offer easy money deposits and withdrawal. 

7 Must-Have Features In Cryptocurrency Exchange Application

Considering the seven features, as stated below, will help you to Develop Your Crypto Application.

Log-in & registration: No authentic app can operate without a user registration and log-in feature. Moreover, the log-in option adds a layer of security to the cryptocurrency exchange software.

User profile: After the user has successfully registered and logged-in to the crypto exchange application, the next feature that follows should allow the user to create its user profile.

Creating a wallet: This feature is about creating a wallet. The cryptocurrency exchange application should let the user develop a crypto wallet app to manage the transactions without any hassle. 

Cryptocurrency conversion & exchange: It lets the user create a panel that is dedicated to the cryptocurrency exchange. 

Payment gateway: How can we forget to emphasize the importance of payment gateway systems. Payment gateway services will let the user add money for purchasing cryptocurrencies. Make sure that it accepts a variety of payment options such as credit or debit card, net banking, etc.

Transaction history: This feature will let the user peek into its transactional history. It includes the sale & purchase of cryptocurrency and withdrawal & deposit of fiat currency.

Search Option: A thoughtfully integrated search option will enhance the user experience as well as the user-engagement. It allows the user to search for people who are interested in the sale or purchase of cryptocurrencies. Moreover, the user can also search for places where users can pay using these digital currencies.

Apart from the tips that are mentioned above, there are some additional points that we would like to inform you about-

  • Cross-platform compatibility is something that holds a great weightage in making your app more popular and accessible. 

  • The app should accept many fiat currencies to attract users globally.

  • Integrating advanced security features like OTP and multi-factor authentication will add an extra layer of security.

  • Automated purchase options can also be considered to make the app more user-centric. 

  • Integrating options like margin trading will help the user to trade beyond the limit. 

  • A well-laid customer support option will aid in grievance redressal. 

Moreover, you should also pay attention to protecting the customer’s interest from high fluctuation and volatility that will create your brand reality amongst the app users. 

Few popular Cryptocurrency exchange platforms

Below is a list that mentions about few of the trusted Cryptocurrency Platforms-

CoinSwitch
  • Supports over 300 currencies.
  • 24 x 7 customer assistance.
  • Supports Indian currency.

CoinDcx
  • Supports over 200 currencies.
  • Offers the highest liquidity.
  • Lowest trading fee- 0.1% 

ZebPay
  • Boasts advanced features.
  • High-level security enhancements.
  • Zero deposit fee up to five crypto-crypto pairs.

WazirX
  • Customized token by the name WRX
  • Cross-platform compatibility.
  • Simple yet efficient design.

Unocoin
  • Accepts Indian currency.
  • OTC and SIP features make it more user-centric. 
  • Automated monthly purchases at the current market rate.

Referring to the distinctive features that each crypto exchange app has to offer will help you innovate a unique app to give it an edge over the competitors.

Moving Towards Crypto Exchange App Development

After knowing about the features to include in the cryptocurrency exchange application, the next big thing that might concern you is the cost of cryptocurrency exchange app development. There are many factors that will influence the cost of app development, and the selection of features is one of them. 

It is advised that you conduct in-depth web research to find out the best Cryptocurrency Exchange Software Company.
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