A cryptocurrency trading app allows users to access multiple cryptos present in the market and trade (buy and sell) them in real-time. Users can deposit currency and do transactions based on the cryptocurrency of their choice.
According to Fortune Business Insights, the worldwide cryptocurrency market was valued at $910.3 million in 2021, and it is predicted to reach $1,902.5 million in 2028 at a CAGR of 11.1%.
Isn’t the above figure staggering?
It is the best time to invest in cryptocurrency trading app development for business owners looking to earn massive profits from the crypto market.
Are you planning to leverage this market by building a crypto trading app? If yes, you must add relevant and intuitive features to your crypto trading app if you want it to be popular.
This blog will discuss crucial features that a crypto trading app should have to fetch millions of downloads.
Let’s get started.
Essential Features to Include in Your Cryptocurrency Exchange Development App
1. Trading Engine
The trading engine is one of the essential features of the cryptocurrency trading app. It is the core of the crypto exchange solution.
A trading engine performs various functions, tracks all open orders, and allows you to search for new cryptos, etc.
The trading engine functions include:
- Matching the transactions (buying/selling) on the trading app
- Calculation of balances
- Execution of crypto transactions
- Accessing order-books
2. Admin Panel
An admin panel is a fantastic feature that allows crypto trading app owners to handle different functionalities.
You can customize the admin panel according to your crypto trading app’s particular needs. But, there has to be an option to add new currencies, handle crypto listing, credit/debit funds, and manage support-related problems.
3. Interactive User Interface
Your crypto trading app should have an interactive UI. It should not be too complex and challenging for users to navigate. Therefore, you should build a user interface with these features:
- A UI that makes sure the transactions are executed flawlessly and decreases the trading time.
- Efficiently withdraw and deposit funds.
- Support or helpdesk where users can connect if any issues arise.
You can consult a reputed cryptocurrency exchange development company to discuss necessary features you can add to your crypto trading app to make it unique and competitive in the market.
4. User Permission and Verification
You must provide a hassle-free onboarding experience for your users if you want your app to be popular. By providing a simple KYC (Know Your Customer) form, you can effortlessly gain the trust of your users.
The crypto trading application should instantly authenticate the documents given by the new users.
Furthermore, a crypto trading app without user verification will raise the possibilities of forgery, data theft and hinder the secrecy of transactions.
To boost data safety, you must incorporate your app with two-factor authentication, data encryption, and anti-bot verification.
5. Crypto Wallet
A crypto wallet allows your users to save, send and receive digital currency. You can customize and improve this functionality according to your requirements.
There are mainly two kinds of crypto wallets, i.e., hot and cold.
- Hot Wallet- It is easy to use and is faster; however, it is vulnerable to cyberattacks.
- Cold Wallet- It is also called an offline wallet. It delivers more security but is not convenient as a hot wallet.
You should also keep in mind that wallets must support multi-cryptocurrency. The more your wallet incorporates cryptocurrencies, the better it is for the users and investors.
6. Push Notifications
Push notifications are extremely valuable as they assist in establishing communication with crypto trading app users. With the help of push notifications, you can notify your users about price changes, new coin listings, special offers, etc.
Additional Features a Cryptocurrency Exchange Development Services May Incorporate
Some other features that will add value to your app’s functionality, overall effectiveness, and eventually, success are mentioned below:
- Payment Integration
- Smart Contracts
- API Integration
The Bottom Line
Crypto trading apps have two primary goals: to make the life of users convenient and simplify the trading process. However, secure trading is of foremost importance to a crypto trading app. The above-mentioned are some basic cryptocurrency trading app features. You must discuss these features with an app development firm while creating a crypto app.
Tom Hardy has 10+ years of experience as a software developer in SparxIT. He often writes blogs and journals to share his expertise for a reputed cryptocurrency exchange development company.