Provide your users with a simple and interactive onboarding experience. Also, note that verification is an important part of crypto apps to minimize the chances of fraud and maintain the transparency of transactions. In order to ensure users with complete safety of data, you must integrate your app with two-factor authentication and anti-bot verification.
It should adept UI/UX that make the registration process user-friendly with innovative design elements.
2. Trading Engine:
The trading engine is one of the core cryptocurrency app features. This is the system that processes information about price and commissions, shows possibilities for a transaction, matches up offers and bids, creates schedules and more.
The trading engine handles:
Match the buying and selling transactions
Makes calls to access the order books.
Engine development is one of the challenging parts of the crypto platform. You would need an experienced crypto development team to lay the correct logic for the exchange and build an effective architecture.
3. User Interface:
User Interface is not exactly a feature, but it includes all the components of the platform that connect with the user directly. When developing an app like Coinbase, you need to build a user-friendly interface that is easy to understand and interactive to use even for the user who is not much familiar with cryptocurrency trading.
Cryptocurrency exchange platforms generally use a type of chat called candlestick charts. Each candlestick represents the rate change for the selected period, where green indicates an increase and red indicates a fall.
Crypto exchange dashboards must include quick access to cryptocurrency exchange features such as:
View order history
Creating and cancelling orders
Connecting with support and more.
The wallet allows users to send, store and receive virtual currency. The more cryptocurrencies the wallet is integrated with, the better. For a cryptocurrency exchange app like Coinbase, the wallet should have the following features:
Integrate multi-wallet functionality to support various types of transactions.
Integration with leading banks and payment gateways is a must to buy and sell cryptocurrency in real-time.
Users should be able to withdraw or deposit amounts through email, QR code, ATM and transfer etc. Normally, trading and deposit of digital currencies happen without any account verification, but for withdrawing it is important to verify users’ accounts.
Incorporating an e-commerce platform is also important to cater to the maximum audience.
There are mainly two types of bitcoin wallets – hot wallets and cold wallets. Let’s explore both the wallets in detail:
Hot wallets are the ones that are linked to the internet and that is why these wallets are less secure. Thus, these wallets are more vulnerable to attacks by fraudsters and security threats. Though hot wallets are user-friendly, there is always a high risk when it comes to user’s security and privacy.
Cold wallets store crypto tokens in offline mode, hence offer improved security. To secure the exchange from hacking, users should be able to transfer funds from hot wallets to cold wallets and vice versa.
6. Admin Console:
An admin console is required to enable the exchange owner and operators to manage different operational aspects of cryptocurrency exchange. The feature of the admin console can be customized according to the specific requirements of your crypto app, however, every admin console should have options like adding new currencies, edit trading fees, managing cryptocurrency listings, crediting/debiting funds and addressing support related issues.
Analytics is a feature that can attract advanced crypto traders to use your system. Analytical tools allow traders to understand the market decision and design their strategies.
There are different types of technical indicators that traders use such as:
The Relative Strength Index:
This shows the strength of a trend and the likelihood of trend change. RSI provides users with the magnitude of recent price changes and also displays the rate at which the price is changing.
Moving Average shows the average price over a selected period of time.
Moving Average Convergence Divergence:
Helps in predicting the fluctuations in price.
Stochastic RSI (StochRSI):
Aids in identifying oversold and overbought zones.
8. Push notifications and alerts:
Push notifications are beneficial for you as well as your users as this feature will help you maintain communication with users. With the help of push notifications and alerts, you can notify users about special offers, news and promotions. For example, you can send notifications like coin listing alerts, price changes, trend changes, track exchange listings and more.
These were some of the basic cryptocurrency app features that you must include while crypto app development. But, this is not all. Secure trading is of utmost importance to a crypto exchange app and this calls into question the existing security paradigm and what features the exchange owners must incorporate to safeguard the users’ assets.
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