How to Develop Your Own Crypto Trading App: A Step-by-Step Guide

The crypto trading app is all the rage right now. More than 562 million people own digital currencies worldwide. This equates to 6.8% of the global population.

Interesting, right?

Besides all, there is the prediction that the number of users in the cryptocurrency market will reach 328.80 million by 2028. 

Looking at these numbers, undoubtedly, this is a golden opportunity to enter the crypto space with your own trading app. Yes, you read it right. Apart from this, there are many more reasons why crypto startups or crypto enthusiasts consider developing crypto trading mobile applications. 

So, before starting our crypto trading app development guide; it’s a good idea to screen those reasons first- 

Why Develop a Crypto Trading App in 2024?

I know you have landed on this page to get an answer to -“How to create a crypto trading app?” 

Don’t worry, you are just a minute away from it. I have shared an in-depth process to develop a cryptocurrency trading application just below this section. But first what is more important for you to know is- why 2024 is a great time to start your own trading app in the crypto niche.

So, here’s why –

1. Bitcoin is Soaring in 2024:

Bitcoin, the flagship cryptocurrency, set new records in 2024. Bitcoin (BTC) price per day from September 15, 2021, to June 10, 2024 (in U.S. dollars). 

Characteristic	Bitcoin price index in U.S. dollars
Jun 1, 2024	67,706.94
May 31, 2024	67,491.41
May 30, 2024	68,364.99
May 29, 2024	67,578.09

These numbers signify strong demand for BTC and investors are interested in investing.

2. Overcoming Regulatory Barriers with the Approval of Bitcoin and Ethereum ETFs

Withdrawals relating to the Bitcoin ETF have finally resulted in a regulatory win. Thus, facilitating an entry of traditional investors into the crypto market, building up further traction. 

3.  Dominant Force in DeFi

Decentralized applications (dApps) are seeing explosive growth, and crypto exchanges are leading the charge. The average revenue per user in the DeFi market amounts to US$1,378.0 in 2024. And, by 2028, it is expected to reach 22.09m users. 

Image Source: Statista (DeFi – Worldwide Report)

All of these increasing numbers, share goodwill in building up a larger audience and subsequently, potential users of your trading application.

Hope, these statistics give you a more clear picture of why 2024 is the right time to tap into this rapidly expanding market and develop a crypto trading app.

Now, let’s get back to the guide topic- i.e. what are the steps to develop a crypto trading app?

Top Steps To Develop a Crypto Trading App

All these nine steps that I have discussed in this crypto trading app development guide serve as your launchpad for developing a successful crypto trading app. We’ll guide you through the process. equipping you with the knowledge to make a splash in the exciting world of crypto. So, let’s quickly get into the steps. 

Step 1: Understand the Crypto Trading Market- Do Research First

Start with knowing the ins and outs of the crypto trading market. The market is highly dynamic and competitive. You will see thousands of cryptocurrencies and numerous exchanges emerging every day. Begin with knowing the history of crypto- 

Successively, proceed with how the number of users and the trading volumes on platforms like Coinbase, Kraken, and Binance are increasing. Do not let your business idea fail; understand this- market research is an important step to developing your crypto trading app. 

Therefore, conduct thorough market research to identify-

• what are the most traded cryptocurrencies?
• what is trending in crypto trading?
• what are your potential user preferences?
• who are your potential competitors?

Getting answers to these questions will help you pinpoint the opportunities and challenges in the crypto trading domain.

Step 2: Decide Whether to Start From Scratch Or Use a Ready-Made Solution

You might have an amazing idea for a killer crypto trading app, but the question is -How will you build this, exactly?

Would you build it entirely from scratch or go with a pre-made solution? 

Well, both options have their own benefits. As a business leader, pick anyone to start with the development process of a crypto trading app.

Choose an off-the-shelf solution if:

• You have a limited budget for development.
• Speed to market is your top priority.
• You’re OK with a basic set of functionalities.
• Not looking for many customization options.

Opt for custom crypto trading app development if:

• You have a unique vision for your crypto trading app
• Looking to add features and functionalities of your choice
• Security is important to you
• Want to have complete control over the codebase
• Looking to build a scalable app for future growth.

Moreover, if you are going with the custom option, partner with a reliable crypto wallet development company. Having them and their experience will count positively in the successful development of a crypto trading mobile application.

Step 3: Investigate Legalities 

The next crucial step in developing a cryptocurrency trading application is to check the compliances and legalities. Cryptocurrency is surrounded by a lot of tricky regulations. So, be careful at this step.

In general, centralized apps (CEXs) need to follow local AML/KYC rules to prevent money laundering. 

Similarly, check for -Decentralized apps (DEXs. You have to keep the legal side strong. If you keep this to the mark, you’ll launch a compliant and successful crypto trading app.

Step 4: Choosing a Crypto Exchange API

For the better running of a crypto trading app, you may need real-time market data and functionality to function.  In that scenario- Crypto Exchange APIs play a crucial role.

It is a set of instructions that allows your app to talk directly to a crypto exchange platform. It unlocks features like:

• Live Market Data: Get real-time prices, trading volumes, and order book information for various cryptocurrencies.
• Trading Power: Enable users to place and cancel orders, manage their balances, and interact with the market directly within your app.

Therefore, wisely choose the Crypto exchange APIs that best suit your app’s needs. This is one of the important steps in your development process.  Further, here are some of the popular options in the market for Crypto exchange APIs-

• Binance
• Coinbase
• Kraken
• Bitfinex
• CoinMarketCap
• Blockchain.com
• CryptoCompare
• Gemini
• KuCoin

Step 5: Choosing Tech Stack

Selecting the right technology stack is a vital step to develop an app. Common choices for developing crypto trading apps include:

• Frontend: React Native, Flutter, or Swift (for iOS) and Kotlin (for Android).
• Backend: Node.js, Python, or Ruby on Rails.
• Blockchain Integration: Ethereum, Binance Smart Chain, or custom blockchain solutions.
• Database: MongoDB, PostgreSQL, or Firebase.

Step 6: Design Crypto Trading App

Now that the core functionalities of your crypto trading app are planned, it’s time to focus on the user experience (UX) and user interface (UI) design. 

Design the app in such a way that it attracts and retains users in the competitive crypto market. 

Work collaboratively with your UI/UX design team to decide on a logo, color scheme, typography, navigation, etc. It is important you keep the design of your crypto trading application aesthetic. 

In short, be sure to design an app that offers a smooth experience for buying, selling, and managing your cryptocurrencies.

Step 7: Building the Backbone of Your Crypto Trading App 

This step is all about the coding process. Onboard back-end developers to build the core functionality of your crypto trading app.  But what sort of feature should you keep in your crypto trading app?

Good question! Here are some key features to include in Crypto Trading App:

Essential Features:

• User Onboarding (Registration)
• Crypto Wallets
• Real-time Data
• Charts
• Order Book
• Transaction History
• Clear Record
• Portfolio Tracking
• Investment Overview
• Push Notifications
• Two-factor authentication

Advanced Features (to Stand Out):

• P2P Trading
• Crypto Staking
• Cold Wallet Integration
• Credit Card Integration
• KYT Compliance
• Tradable Exchange Token
• Advanced Trading Tools
• Social Features (Optional)

Further, the development phase involves the integration of blockchain networks to make the transaction process secure. Also, to make storing of user data safe.

You need to hire blockchain developers and traditional app developers to code the entire functionality of your trading app.

Step 8: Test Your Crypto Trading App

Before you let your user use your crypto trading app, check if the foundation is solid. With that I mean, check-

• Does every feature work as intended? 
• Can users buy, sell, and manage their crypto seamlessly?
• Are user funds and data safe from vulnerabilities? 
• Can the app handle multiple users and transactions without glitches or slowdowns?

After checking on all of these core parts, if you get the green flag, then proceed further.  Besides, if there is any bug you catch, stop and fix it first. 

Step 9: Launch Time

Your last of developing a crypto trading app is -finding the right platform and launching it for users to use. However, the two popular platforms where you can deploy are- Google Play Store and Apple Store.

Follow the guidelines of these platforms to submit your app. You can get help from the best mobile app development company in India in submitting to the platform as per your target audience.

Final Thoughts

Hope by reading this guide- you further find it challenging to develop a crypto trading app. By following this step-by-step guide, you can create a robust, secure, and user-friendly app that stands out in the crowded crypto market. Furthermore, partner with an experienced Fintech software development company to further ensure your app’s success and longevity in the fast-evolving world of digital currencies.