How To Create A Cryptocurrency Exchange App Like Binance?

So how to create a cryptocurrency exchange app like Binance? Well, there is no straightforward answer to this question, as there are a number of things involved in crypto exchange app development. 

If you are seriously looking to create an investment app like Binance, then you have landed at the right place as we have covered everything in detail right from the scratch about crypto trading app development. 

Whether you are a startup or a leading entrepreneur, making a decision to build a cryptocurrency investment app like Binance is a worthy decision.

Wondering why?

In recent years, cryptocurrency has successfully changed the financial system. It has not only become a buzzword in the financial market but has also become popular among people and allowed them to start trading right from their mobile screens. 

With cryptocurrency exchange platforms, users can trade their crypto assets securely and effortlessly. Moreover, it helps you discover the all-new money-generating streams that one could ever imagine. This is what exactly motivates investors from all across the world to build their own cryptocurrency exchange app. 

If you are still wondering why you would build a cryptocurrency exchange app, then you need to look at the market statistics…

Market Share of Cryptocurrency Exchange Platform

Since Covid-19 has put a pause on business growth, many FinTech startups have realized the potential of centralized crypto exchange business as it is offering a plethora of opportunities for the people who wish to trade. The constant rise in demand for this solution has led to the increase in demand for creating a cryptocurrency exchange app development.

Before you hire software developers in India, here are the important market statistics that help you understand why crypto exchange apps are surging in demand.

According to the survey report, the market size of global cryptocurrency exchange platforms was $30.18 billion in 2021 which is expected to reach $42.69 billion in 2023. 

As per the reports of Statista, the average revenue per user in the cryptocurrency segments amounts to $145.40 in 2023.

The market reports say that the revenue is expected to show an annual growth rate of 14.6% which translates into a total amount of $73.01 billion by 2027. 

Image Source: statista

So these statistics are fairly portraying the progressive image of the cryptocurrency market. But if you are planning to hire an Android app developer in India to create a cryptocurrency exchange app like Binance, then you must need a surely whether it’s worth it. 

Why Binance is Booming And Making a Debute Since Its Launch?

There is no doubt in this fact that Binance has become one of the world’s largest and most popular cryptocurrency exchange apps, experienced a remarkable takeoff since its inception. 

Founded by Changpeng Zhao (CZ) in 2017, Binance quickly rose to prominence due to its innovative approach, user-friendly interface, and a range of attractive features. 

Here’s a timeline of key events that contributed to Binance’s rapid growth:

Launch and Initial Coin Offerings (ICO):

Binance was launched in July 2017 with an Initial Coin Offering to fund its operations. The ICO raised $15 million within minutes, indicating strong investor interest and confidence in the platform’s potential. The Binance Coin (BNB), the native cryptocurrency of the platform, was introduced during the ICO.

Focus on User Experience:

The biggest reason behind the surging popularity of Binance is it majorly emphasized on user experience by offering a user-friendly interface, efficient trading processes, and a wide range of cryptocurrencies for trading. By keeping in mind the beginners level of tradition and pro-level of tradition, it has provided a unique blended platform that attracted both novice and experienced traders, helping the platform gain a competitive edge.

Offering Wide Range of Cryptocurrencies:

Binance quickly gained popularity by offering a vast selection of cryptocurrencies for trading, including both well-established coins and newly emerging tokens. This diversity attracted traders seeking various investment opportunities.

Low Fees and Promotions:

Binance’s fee structure, featuring lower trading fees compared to other exchanges, appealed to traders looking for cost-effective trading. The platform also introduced promotions and incentives for users, such as trading competitions and giveaways.

Security Measures:

Binance prioritized security from the start, implementing advanced security measures and employing a robust risk management system. This helped build trust among users and contributed to the platform’s credibility.

Let’s look at the other face of the market to learn why Binance is considering the top cryptocurrency exchange platform and why you should consider the Binance app clone. 

Is Binance Taking Over Coinbase…?

While talking about cryptocurrency trading platforms, Coinbase and Binance are the two most popular apps that every second person is familiar with. But here are a few facts that make Binance a prominent app over others.

We have collected data and statistics on cryptocurrency apps and learned that Coinbase is one of the largest cryptocurrency exchanges by registered users and is majorly popular among beginners.

However, Binance was launched in 2017, it has quickly become the largest exchange platform by revenue and volume. The annual volume of Binance has quickly jumped from $1 trillion in 2020 to $7.7 Trillion Crypto Exchange volume in 2021. 

But the central question is what makes Binance So popular among users? How do apps like Binance work?

Let’s check out this video to understand how do Binance work?

Why Create a Cryptocurrency Investment App Like Binance?

Have you made a decision to build a cryptocurrency investment app like Binance? Take a moment to understand what exactly makes it so popular among users. Why do users prefer using Binance over other trading platforms?

Key Highlights of Binance: What Makes Binance A Leading Trading Platform?

When it comes to trading, always think like beginners in trading. From market research, it’s clear that crypto traders always go for platforms that are convenient to access, impose low fees, and offer high liquidity. And this is what Binance offer to their traders.

• The clear idea, low trading fees, and a big amount of Initial Coin Listings are the few major reasons behind the success of Binance.
• Users are charged only 0.01% off every trade they made and minimal fees are imposed on withdrawal, which makes it so popular.
• Being a young Crypto exchange trading platform, they have exceeded $17 billion in market capitalization in the first half of 2023.
• Since it boasts a simple, easy, and user-friendly interface, therefore, it has gathered 2.5 million users till now in 2023.

In just 6 months after its launch, Binance has successfully taken the market by storm. The value of the Binance trading platform has steadily touched the sky due to the number of traders falling on the platform. 

So if you are going to create a cryptocurrency exchange app like Binance then you need to hire an app developer in India with expertise in FinTech App Development. But before that, you need to know how it works and what unique things it has to grab the attention of the users. 

If you are interested incorporating the Blockchain in Fintech solutions, then read more about Blockchain in Finance: How Much Does It Cost To Create a Blockchain App In India?

What Do You Need To Consider To Create a Cryptocurrency Exchange App Like Binance?

Developing a FinTech app that is engaged in cryptocurrency trading, is a highly complex task. Since it involves huge investment and effort, therefore, it is worth understanding the pro tips to create a cryptocurrency exchange app like Binance…

Multi-Platform Compatibility 

As per market reports, most traders would prefer trading on mobiles in comparison to websites. Since smartphones come with all smart features, developing a crypto trading app like Binance will be a smart decision. All you need to do is to make sure you hire Android app developers in India that help you create an app that seamlessly runs on the Android platform. Also, as Binance seamlessly runs on both iOS and Android platforms, therefore, you can create an app that flawlessly operates on multiple platforms. 

User-Friendly App Interface

Instead of trying to create a cryptocurrency trading app like Binance with a fancy interface, it is logical to keep things simple and sorted for users. The simple and user-friendly UI of the app will help you engage your traders and encourage them to start trading without any assistance. On the other side, stuffing too much on your dashboard will make beginners confused and may quickly quit the app. 

Integrating Right Features

The Binance app is used by millions of global crypto traders for various specific features such as staking, storing crypto assets, swapping, OTC trading, margin trading, and more. So when you decided to create a cryptocurrency investment app, make sure you integrate the right choice of features to turn your app idea into a big success.

Adhering to Regulations

To get started with any FinTech app, make sure you meet all the rules and regulations. To avoid skipping any important trading rule, it is worth hiring a mobile app developer in India who is familiar with all the essentials required to kickstart your trading app. 

If you want to create a cryptocurrency investment app like Binance for your business, then stick to KYC agreements. Make sure you fill up certain forms and get official documents that can help you verify users and enables you to maintain user record. 

So overall, keep in mind that only usage and popularity of the app don’t decide the potential of any business model. You need to focus on how to create a cryptocurrency investment app like Binance…

If you’re looking for the experts who can take care of all the legalities and financial approvals then AppsDevPro is the ultimate place to hire experts. Read more to the cost to hire full-stack app developer in India. 

How To Create a Cryptocurrency Investing App Like Binance- 10 Key Features To Consider

The cryptocurrency exchange market is rapidly growing and the increasing number of crypto traders is raising the demand for advanced trading platforms that are feature rich. Though a number of trading platforms have been introduced in the market, the quality of the resources is still a question. So how to build a cryptocurrency investment app that helps you stay ahead in a competitive world? 

Here are the basic steps of developing a cryptocurrency app like Binance:

Image Source: 4irelabs.com

To create a successful crypto trading platform, you need to pay attention to the features of the app. The features and functionalities of the app are the major part of this question that “how to create a cryptocurrency investing app like Binance?”.

So let’s see what you need to pay attention to and how to start a cryptocurrency exchange service app:

• User Signup: The signup or login page of any app is the first thing a user looks for in any app. But instead of letting people in after the app login, you need to protect an app from unauthorized logins or any other kind of manipulation. So make sure you hire Indian app developers to create these features using a high-standard of the authorization system. 

• User Verification: One of the reasons that users can freely put their trust in the crypto trading app is because of their user verification feature. Before users start trading, make sure you have a feature in place that thoroughly verified the user background. Depending on the type of verification, the verified users probably have an access to higher possibilities. 

• Deposit/Withdrawal: To create a cryptocurrency investment app like Binance, it is important to have a feature that allows traders to deposit money into the app’s wallet and able to withdraw the money to the various wallets listed or set by the company.

• Cryptocurrency Trading Engine: This functionality works as the core of any exchange platform and helps you run the operations. With this feature, execute transactions, calculate balances, access to order book, and match all the crypto exchange buy and sell transactions. 

• User Interface: For any crypto trading app, UI is the face of any exchange application. To create an appealing and engaging interface, you can hire software developers in India who can enhance the simplicity and make it easier for users to kickstart trading. The ideal User-Interface of any crypto trading platform must include:

• User registration panel
• Login function
• Find deposit/Withdrawal
• View Order Book
• Transaction history
• Analytic reports and charts
• Buying and selling orders
• 24/7 Customer support
• Low trading fees

• Crypto Wallets: Have an in-app crypto wallet feature that allows users to conduct smooth transactions without any hassle. Without using any bank details, users can directly deposit and withdraw money from their wallets.
• Crypto Analytics: Help users to track the performance of crypto coins by using monthly analytical reports. Adding this feature, allow the app to automatically generate weekly or monthly reports that help them make an informed decision. 
• Admin-Side: With this feature, crypto holders can monitor the movement of cryptocurrency and be able to make a move accordingly.

These are the few basic features of any cryptocurrency exchange app that you can look into. But by integrating advanced functionalities you can alter the user experience. However, you need to keep in mind that the more features you add to the app, the higher the cost will be. How much does it cost to build a Cryptocurrency investment app like Binance? Let’s jump into the details…

Read more to know whether iOS vs Android: Where Small Businesses should launch their first app?

How Much Does It Cost to Create A Cryptocurrency Exchange App Like Binance?

The average cost to create a cryptocurrency exchange app like Binance will be ranging from $12,000 to $20,000. But the real estimations can go above and beyond. Wondering why?

Before you hire software developers in India to directly get started with the Crypto trading app development process, you need to understand what exactly it will cost you…

To create a Cryptocurrency exchange app like Binance, you may need an expensive budget. But by deeply evaluating the app development cost-affecting factors, you can easily calculate the app development cost and able to shrink the cost and time with careful planning.

So here are the few major cost-driving factors that you may need to know while making a decision to create a cryptocurrency exchange app like Binance:

• Complexity Of The App – its features and functionalities. Depending on the complexity of the app, the cost to create a cryptocurrency exchange app like Binance will be segregated into three categories, simple, medium, and complex. The development cost of the app can be ranging from $12,000 to $25,000+.

Here is a fair breakdown of the app development cost depending upon the complexity.

• UI/UX Design: The user interface of the app can be a major cost-driving factor. Always keep in mind that simple and easy-to-access UI is always appreciated by the users. For simple app design, you can hire a UI Designer with an average hourly cost of $10 to $15 per hour.
• Operating System: Decide whether you want to build a Native app or a hybrid app. Usually, cross-platform app development solutions are more affordable than developing two native apps for Android and iOS platforms.
• App Development Team: Binance is such a complex app. To create a cryptocurrency exchange app like Binance, you need to hire an app developer in India that have the skills and expertise of developing FinTech applications with powerful backend and appealing frontend. 

Read more to know the process and cost to hire Android app developers in India.

So now you know the factors that may affect the overall app development cost, but how will you calculate the overall cost? Here is the formula to calculate the actual app development cost:

Image Source: successive.tech

So if you have any doubt or confusion about how much it will finally cost you to build a cryptocurrency exchange app then you can hire a mobile app developer in India. 

Conclusion: Where To Go Next?

There is no doubt in this fact that FinTech applications are catching the hype and quickly transforming traditional money investment methods. So with the increasing trends of investing in cryptocurrency, the demand for trading platforms is surging at the same pace. If you are planning to be a part of this thriving industry, then all you need is to hire a mobile app developers in India that can help you build a cryptocurrency trading platform like Binance with an excellent user interface. 

And AppsDevPro is one of the leading platforms in India where you can hire the best app developers with industry-specific experience. The best part about hiring app developers in India at AppsDevPro is you can leverage the flexible engagement model and be able to hire resources on hourly, dedicated, and monthly billing.

So if you have any app development requirements and looking for reliable resources or coders, then you can contact us or drop your query below. 

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