The Secret To Cryptocurrency Development Solution: A Complete Guide
- By Lakshya Pareek
Cryptocurrency development is a trending buzzword among a lot of digital enthusiasts. After the penetration of Bitcoin in the market capitalization, various other cryptocurrencies like Ethereum, Dogecoin, etc, have been introduced.
According to research, The cryptocurrency market will elevate to $2.2 Billion with a CAGR of 7.1% by 2021. Advantages like distributed ledges and decentralization are fueling the growth of cryptocurrencies.
If you are also an entrepreneur, planning to make a strong foothold in the crypto industry, then reading about cryptocurrency development is the most crucial thing to reap the benefits from such a blockbuster business trend.
This article will guide you about the basics of cryptocurrency and how you can invest in crypto development solutions to lead a successful business venture.
What is a Cryptocurrency?
Cryptocurrency is a digital asset of blockchain technology that boasts complete transparency and security. It does not depend on any governmental body or financial institution and that’s why it is free from cyber attacks. Bitcoins, Litecoins, Etherium, Zcash, Ripple, etc are some examples of cryptocurrencies.
How to Make Our Own Cryptocurrency?
Creating a cryptocurrency is not a single-handed task, it is a very complex process that requires an experienced workforce and a good amount of investment. The business tycoons like Facebook, Walmart, Amazon, etc have their own cryptocurrencies.
A reliable crypto-exchange software development company could develop a well-versed cryptocurrency and a blockchain system for your business needs.
Difference Between Bitcoin and Cryptocurrency?
The cryptocurrency works on a decentralized system which omits it from the involvement of the government and other financial institutions. There are thousands of digital currencies in the crypto market and bitcoin is the most famous among all of them.
However, bitcoin is also a cryptocurrency but it possesses some differences like they run on blockchain technology and follows the guidelines of central banks and that’s why they are legal in most countries. Though digital currencies are illegal in some countries because they don’t have any base value, their values keep on fluctuating.
What are the Benefits of Deploying Our Own Cryptocurrency?
The main key advantage of investing in cryptocurrency development is transparency and decentralization, you can manage the owners, funds, and other assets of your virtual currency.
As cryptocurrencies are free from any centralized authority which means that they are less prone to cyber security risks. Moreover, blockchain technology is the most secured distributed ledger.
Most crypto users prefer a mobile-based solution. Hence, developing crypto exchange software will attract more prospects to your business.
Users can also exchange money by using the crypto exchange platform regardless of whatever the location is.
If your business model includes international payments then cryptocurrencies are the most ideal solution because they charge a low transaction fee.
Developing a cryptocurrency exchange app is the best idea to expand your business verticals through this trending wave of blockchain technology.
Features that a Cryptocurrency Mobile App Must-have
Developing a mobile app is child play, but when it comes to crypto exchange software development then things get complex because developing such a financial piece of software requires vast knowledge and affirmative experience.
Always hire a cryptocurrency development that has years of technical background in the blockchain solutions industry.
Following are the must-have features of a cryptocurrency exchange application.
Such an application must provide sign-up/log-in with social media handles like Facebook, Twitter, Google+, etc.
Make sure that your crypto application provides real-time market statistics to facilitate the decision-making of the users.
Filtration will allow your application to provide market feeds in different dimensions like region-wise reports, date-wise feeds, select different cryptocurrencies, and a lot more.
Using API integration, a crypto exchange application can source different types of data like international market value, shortening of digital coins, etc through different portals.
Most of the users avoid peeking into long content. Therefore, your application must support attractive charts like pie, line, bar, etc to support different types of real-time market figures.
The future of cryptocurrencies is a debatable topic because to date it is a decentralized body where no one has entire control over the working of this financial entity. Perhaps, various countries are planning to deploy some regulations and guidelines to regulate the decorum of cryptocurrencies.
Most of the companies are investing in cryptocurrency development because famous business enterprises like Tesla, Microsoft, Starbucks, and Amazon are already accepting payments in bitcoins. These facts clearly state that cryptocurrencies have a bright future and huge profits.