The popularity of cryptocurrencies is growing nowadays, so the question of how to make crypto exchange platform is going to be more and more relevant. To start your own crypto business, you should conduct business analysis in the very beginning. This is needed to understand the concept of your application and evaluate the idea.
Also, you should choose the business model of your cryptocurrency exchange platform. There are three main business models for this type of application:
- Direct trading
- Brokers
- Trading platforms
More about each of them you can read here: https://themindstudios.com/blog/how-to-make-a-cryptocurrency-exchange-platform-mind-studios-case-study/
The next important step is to research the market and competitors. This allows you to understand the market situation and to find and explore the market leaders, your competitors. In the cryptocurrency exchange field, your competitors are
- Coinbase
- Binance
So, what the features should you implement to the MVP cryptocurrency exchange platform?
- Simple registration
- Constant monitoring of statistics
- Withdrawal of fiat currencies and cryptocurrencies
- Full access to trading accounts
- Review of transactions
- Booking history
- Round-the-clock customer support
Before we answer the question how much does it cost, let's see all the dev stages of the crypto exchange app:
- Business analysis
- Market research
- Prototyping
- Backend development
- iOS app development
- Android app development
- Web app development
- Quality assurance
We can conclude, you should have in the near of $30,000 to develop an MVP version of the cryptocurrency exchange platform. Aso, these costs can vary according to the dev team hourly rate and the project scale.
I hope this article was useful for you.
