This blog is for entrepreneurs who want to understand the cost of developing an app like Coinbase, including the basic functionality of a Bitcoin wallet app.
In the financial industry, the speed at which Bitcoin is moving is confusing everyone as it keeps creating waves of chaos in the market.
There is a huge demand for Bitcoin based mobile applications like Blockchain.info, Electrum, Airbitz, Bread, Copay, BitPay, Ledger or Paper Wallet that allow people to buy and sell Bitcoin in the safest way. When you look at Bitcoin apps in the App Stores, you will find that there are very few types of them. Bitcoin wallet apps are the most popular.
When it comes to the best bitcoin wallet apps, Coinbase is one of the most popular apps that enable users to buy and sell cryptocurrencies. Recently, Coinbase became the most downloaded app in the App Store, so it’s a big sign of the Bitcoin craze for people around the world.
Coinbase, the leading San Francisco-based digital and cryptocurrency exchange, recently announced the acquisition of Earn.com, a cryptocurrency startup that enables users to use passwords to reply to emails and complete tasks.
The acquisition transaction is approximately $100 million. This also means that Earn co-founder and CEO Balaji Srinivasan will join Coinbase as its first CTO. Coinbase is one of the leading digital currency exchanges, allowing users to trade with the latest digital currencies such as Bitcoin, Ethereum, Litecoin and Bitcoin Cash in more than 30 countries around the world.
Through the acquisition, Coinbase users will be able to buy and earn crypto by filling out surveys and responding to emails. According to TechCrunch.com, Coinbase is leveraging its primary user base to bring you more information on trading behavior and price correlation.
The $1.6 billion company Coinbase is the world’s best-known fiat-to-crypto exchange, so for the first time it’s topped Apple’s U.S. App Store for free apps as the price of bitcoin continues to rise. .
According to the latest news from TechCrunch, Coinbase has announced a new feature in the app. Customers using Coinbase can buy, sell, send and receive USDC on Coinbase. When it comes to USDC, it is a coin worth $1. Its value will remain stable against the dollar. Hence, the name is the stable coin of this coin.
Coinbase, the largest exchange in the United States, has launched a cryptocurrency education program called “Coinbase Earn,” which will also incentivize learners to use digital assets. If you also want to develop an application like Coinbase or we can say similar to Coinbase but you have one major question – how much does it cost to develop an application similar to Coinbase, here we provide an estimated cost to develop a bitcoin wallet mobile app program
We’ve come across another piece of news about Coinbase, the app that’s boosting stable coin support around the world. As a result, customers of the app can now trade USD Coin (or USDC for short) in 85 countries. USDC support is only available in the US, excluding New York. Now, users can trade USDC on Coinbase and Coinbase Pro.
Before diving into the cost of making an app like Coinbase, you need to check out the top features you can include in your own bitcoin wallet app like Coinbase.
Common features and functionality included in apps like Coinbase
1. Allowing people to easily buy and sell cryptocurrencies
When developing a coinbase alternative, one of the main features you need to include in your app is to allow people to buy and sell cryptocurrencies without hassle.
Allows people to easily and securely buy and sell cryptocurrencies like Bitcoin, Ethereum and Litecoin directly from the app. Additionally, you allow your app users to buy and sell Bitcoin using their bank accounts or credit cards, keeping them safe and secure.
2. Let people update the price of Bitcoin and Ethereum
Another important feature or function of any bitcoin wallet app is the price chart, which gives one an idea of the price of bitcoin and ether.
Those looking to buy or sell bitcoin or other cryptocurrencies can get constant real-time updates on bitcoin, ethereum and litecoin prices. Also, you make sure to allow them access to live and historical cryptocurrency prices through the price chart feature.
3. Perfect exchange between cryptocurrencies
The third essential feature that your app must have is seamless exchange between cryptocurrencies. No matter which cryptocurrencies your app supports, such as Bitcoin, Ethereum, Litecoin, Dash, Ripple, and Monero, you can allow your app users to exchange these cryptocurrencies.
For example, if an app user wants to convert his bitcoins to ethereum, you can provide them the ability to convert it. You can offer them the best rates at the highest and worst rate converters below in the list.
4. Know the details of previous transactions and balances
Another important feature that you need to consider while developing a bitcoin wallet app is that app users can check previous transactions and balances so that they can quickly see transactions and balances performed in the past.
Now, they don’t have to remember transactions as they can easily check all records and history directly from the app. Whether money is sent or received, they can view details like date and time.
5. Push notifications and alerts about prices
The most useful feature you can provide to bitcoin wallet app users is push notifications and daily reminders about their set prices so that they don’t miss a beat. You can allow them to set the price of cryptocurrencies if they are looking to buy and sell any cryptocurrencies like ether, ripple etc.
Once the price rises or falls from their set price, they will get notifications or instant alerts about it so they can make quick decisions about buying or selling Bitcoin or any other currency.
6. Customer support
To make your bitcoin wallet app stand out from other apps like Coinbase, you can provide customer support to your app users so they can get solutions to any problems or issues.
Be it looking for any kind of help or query related to Bitcoin or other cryptocurrencies, you can support them through the best customer support team. Also, you can guide them in using your app and explain each feature to them so that they don’t have any problems accessing it.
So, these are the six most common features and functions you can include in a bitcoin wallet app like Coinbase. Beyond that, you can include any desired functionality that you think would be useful for users looking for apps like Coinbase.
Approximate development time to develop a CoinBase-like application
Now, let’s get to the most important question – how much money does it cost to make an application like Coinbase. In order to estimate the cost of developing a Bitcoin wallet application, we had discussions with our blockchain application developers.
So, these are approximate times to develop a Bitcoin wallet app like Coinbase. However, it also depends on various other factors and features, including the platform you choose to develop for (Android or iOS) and the blockchain developer you hire.
Also, the aforementioned development time varies depending on the developer and developer’s blockchain application development
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