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Computers and Technology

How Much Does It Cost to Make a Cryptocurrency Exchange App Like Coinbase?

Cost to Make a Cryptocurrency Exchange App Like Coinbase

Coinbase is a popular exchange app for buying, selling, transferring, and storing cryptocurrencies.

Since its inception in 2012, Coinbase has become the first unicorn in the cryptocurrency exchange app domain.

Coinbase provides impressive functionalities and flawless UI and UX design that helps even newbies to enter the crypto trading industry.

The immense popularity of the cryptocurrency exchange app has provided business owners with new opportunities to excel in this niche.

The cost to build a Cryptocurrency exchange app like Coinbase depends on multiple factors like trading engine, platforms used, consensus protocols, third-party tools, etc.

This blog will discuss these key factors that impact cryptocurrency exchange app pricing. So, let’s get started. 

Trading Engine

The trading engine plays a critical role in any cryptocurrency exchange application. It provides a ground for conducting operations, such as executing the transactions, calculating the balances, and effortlessly buying and selling on the exchange. 

Platforms Used

You can choose multiple platforms for developing a crypto exchange app. Some prominent platforms include BigChainDB, Quorum, Hyperledger Fabric, etc. We recommend that you should select a leading cryptocurrency exchange development company to discuss which platform fits your application.  

Consensus Protocols

Each cryptocurrency exchange app utilizes a consensus protocol. It permits participants to decrypt transactions efficiently. Consensus protocols can assess different elements, such as key management, arrangement, user approval, address formats, signatures, transfers, etc., can be evaluated.

User Interface

The user interface is also crucial in developing a cryptocurrency app like Coinbase. It should be created to look appealing, interactive, robust, and deliver a flawless user experience. Integrating top-notch features in your crypto exchange app can be extremely complex and challenging. Therefore, you should hire a dedicated blockchain app development agency to create the interactive user interface. The smooth user interface allows users to create orders, deposits conveniently, and withdraw funds.

Third-Party Tools Cost

The cost of making a cryptocurrency exchange app will also rely on third-party tools like

  • Amazon Web Services: It comprises different computing services, delivery, and storage that may cost approximately $100 to $1000.
  • Analytics: Popular tools like Flurry or Mixpanel for data analysis, insights, and reporting may cost you roughly $10 to $150.
  • Bug Tracking Tools: Determining and reporting live bugs may cost around $10 to $100 per month. 
  • Notification Services: You may get notification services from Kumulos, Twilio, and Amazon SNS.

API Integration

One of the must-have features of a cryptocurrency exchange app is a set of processes and operations which allow external applications to access OS data. Many pre-built APIs are available; however, you should build a new API for particular use cases such as creating key pairs, handling smart contracts, conducting data authentications, and much more. 

Final Wordings

Cryptocurrencies have seen massive growth in the last few years. The cost of making a basic cryptocurrency exchange app like Coinbase could range between $57,000 and $98,000. If you wish to create a cryptocurrency exchange app with advanced features, the development cost could vary between $1,32,000 to $1,45,000. However, you take the help of a Blockchain development services provider if you require a detailed cost estimation.

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