Blockchain is an emerging technology and is used for developing the most secured and transparent, and high-speed mobile apps. Many banking, finance, and insurance companies are attracted to it for offering the most secured online banking services to their customers.

Here are a few reasons behind the popularity of Blockchain App Development Services the are keeping this technology on top of the list of the best technologies for mobile app development.

Advantages Of Blockchain App Development

1. High-Level Security

Blockchain is the best security solution for mobile app development. Blockchain-enabled banking or investment apps act like firewalls to user transactions and other confidential banking data. They protect data access or illegal transactions, or currency exchange functions in a smart, intelligent, and secure way.

2. Transparent Platform

Blockchain app development makes entire banking process transparent and creates a healthy relation between users and service providers.

Being maintaining a centralized distributed ledger, Blockchain-based Android apps or iOS apps will send instant privacy alerts to the users after completion of every action. Besides, Blockchain-powered investment apps also inform the users about the best investment options or currency exchanges at the best rate of interest.

3. Easy Data Access

Here is another significant benefit of Blockchain App Development. Users can access their accounts and data at any time from anywhere through cloud-based Blockchain apps. So, banks or insurance companies are investing in Blockchain Development and giving great flexibility to their customers for improving brand visibility across global markets.

4. High-Speed Service Delivery         

Blockchain apps for iOS or Android are also assisting businesses in processing transactions faster and easier. They are also increasingly used for speeding up the process of loan lending and EMI calculating in an automated way. Such an automated and secured process will save users’ time and keep the brand name on top of this digital world.

5. Reduces Operational Costs

It is one of the best advantages of Blockchain development for businesses. Companies can invest once in highly-secured Blockchain solutions and grab profits. Since Blockchain technology is a decentralized solution, users do not need to pay any extra third-party payments to external parties.

For instance, Blockchain-powered investment apps allow users to buy or sell stocks or ETFs, or options at a zero-percent commission rate.

6. Fraud Prevention

Blockchain-enabled mobile apps can seamlessly detect fraudulent acts and prevent illegal access to users’ data.

These benefits of implementing a Blockchain solution will let you know how Blockchain development transforms the way you deliver services to your customers.

But, if you are looking ahead to blockchain development, you must remember the below points to create your app within budget.

Which Factors Will Impact On Blockchain App Development Cost?

Blockchain app development is quite costly and time-taking, but it is worth. The cost of blockchain apps varies based on various factors that might be:

• App size
• App type (native, hybrid, or cross-platform)
• Application complexity level
• Team size
• App platform (Android, iPhone/iOS, or Web)

The cost of a blockchain app development project will depend on all these factors. For instance, if you hire a small-to-midsize mobile app development company, the mobile app cost will range from $20,000-$70,000. The multinational mobile app developers will charge you around $60,000 to $200,000+.

As part of the price, hiring an expert blockchain app development company is far better than availing blockchain app development services from a new development agency. Blockchain-like decentralized mobile apps development needs vast proven experience to make your application powerful, secure, and efficient.

Accordingly, the cost of Android app development using Blockchain technology will vary from the iOS mobile app development cost.

On top of all, the market has a high demand for both cryptocurrency and non-cryptocurrency-based applications. E-wallets and online investment apps come under cryptocurrency apps, whereas banking and logistics apps come under the non-crypto currency segment. Development of either type of mobile app is beneficial and profitable, but the cost factor varies.

Along with basic app features, UI/UX design complexity, and all the above factors, technology stack and third-party API integration will also matter a lot for estimating the final price of blockchain app development.

If you are planning to create an app with high-level and advanced Artificial Intelligence-based Chatbot features and multi-currency exchange facilities, then the development costs will go beyond your expectations. So, the blockchain app development cost will depend on the app’s features, functionalities, and technology stack.

These are a few most significant factors that impact the blockchain application development cost.

Recommend To Read: How Much Does It Cost to Develop a Cryptocurrency app like Coinbase?

Which Blockchain App Development Process Ensures The Best Results For Businesses?

Being the best mobile app development company, we suggest companies follow and implement a clean end-to-end app development process. It will give you great control over the app development process.

• Step-1: Gather app requirements, objectives, and vision from clients
• Step-2: Blockchain app development needs deep market research to make the application unique and powerful
• Step-3: While building a blockchain application, mobile app development companies should choose the right platform to give it a big success
• Step-4: Blend AI features in your blockchain-based mobile app
• Step-5: Confirm what features will keep your blockchain-based app stand out of the box.
• Step-6: Design and finalize front-end UX/UI designs and always go for the best, simple, and user-friendly design
• Step-7: Develop application modules
• Step-8: A thorough application testing will let you fix operational and performance bugs and keep your app clean.
• Step-9: As per your target audience demand, upgrade the app features too often for offering high-level performance.

Conclusion 

Blockchain app development and AI development are profitable decisions in 2022. Online investment apps, trading apps, and currency exchange apps have already deployed Blockchain capabilities and delivering the most reliable services. With instant and secure money transactions, anytime account accessibility, transparency, and personalization, Blockchain apps are the best.

If you are planning to invest in Blockchain apps and are all set to hire the best blockchain app development company, it would be a great decision in 2022. It is the right time for banking, investment, and finance companies to reach a broad range of audience base.

About USM Business Systems

USM Business Systems is one of the best blockchain app development companies. We have an expert full-stack app development team who are crazy about adopting the latest mobile app technologies. Our team is well capable to create best-in-class native apps on Android and iPhone platforms.

If you have any blockchain app development ideas, get in touch, and we offer you the best app development price quote.

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What Is Cryptocurrency?

Cryptocurrency or cryptos are digital or virtual currencies that make the use of decentralized Cryptography to store, verify, and record online transactions in the most excerpted manner. Leveraging the highly advanced virtual currency exchange systems, cryptocurrency payments facilitate users to send or receive crypto payments and store transactions in a public ledger (Blockchain).

Since the introduction of the first Cryptocurrency-Bitcoin, in 2009, as a secure medium of money exchange, the demand and craze for cryptocurrencies trading has been increased and ensuring profitable businesses for investors.

Later, Ethereum (ETH), Litecoin (LTC), and Ripple are the best examples of digital currencies. These are popular most popular cryptocurrency types after Bitcoin.    

Is Cryptocurrency Investment A Good Idea In This Digital Era?

Investments in cryptocurrencies are a great move to build a crypto portfolio and make personal finances safe and secure. The value of popular cryptocurrencies like Bitcoin will fluctuate every day, but it will increase obviously.

Here is a graph that reflects the price of Bitcoin (BTC) from October 2013-February 2022.

Source: Statista

The prices of cryptocurrencies like bitcoin are attracting investors with a sudden hike. This market trend and investors’ craze towards Bitcoin trading has increased the demand for cryptocurrency exchange mobile applications.

Cryptocurrency exchange mobile apps facilitate investors to buy and trade cryptocurrencies conveniently from their smartphones. Yes, no need for a web platform to open and trade bitcoins and other digital currencies. The trending Android and iOS apps for exchanging Bitcoin-like digital currencies allow users to track their portfolio 24*7 and maintain profitable graphs.

Today, through this article, we would like to give a detailed guide on the features, functionalities, and development costs of a popular cryptocurrency exchange app-Coinbase.   

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All About Coinbase- The Best Cryptocurrency Exchange App

 Coinbase mobile app is one of the best cryptocurrency apps that allows investors (experts or beginners) to buy, trade, and sell Bitcoin & Ether securely in just a few clicks. This trending mobile application lets users stay on top of the cryptocurrency markets. The Coinbase app for Android or iOS is reliable and user-friendly.

It is best suitable for exchanging or trading Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and many more cryptocurrencies seamlessly.

Its simple and easy-to-use user interface allows investors to view prices of digital currencies and buy or sell instantly at a profitable margin faster and easier. This advanced mobile application also allows users to keep track of all their investments in different types of cryptocurrencies in a single dashboard. It will help users to manage their crypto portfolios without any hassle.

Is Coinbase the most downloaded mobile app?

 Yes. Ever like in the past few years, Coinbase has taken over the Google Play and Apple app stores. It is now recognized as a more frequently downloaded app than Instagram and other social media apps.

As of February 2022, the app has touched the benchmark of ten million downloads from the Android app store. Accordingly, it is the most downloaded iOS app for crypto payments in the USA. Being one of the world’s most trusted crypto apps, the app has 68 million iPhone users across 32 countries worldwide. Such big numbers!

Best Alternatives To Coinbase-like Cryptocurrency Exchange Application

Here are a list of the best similar Crypto Apps like Coinbase:

• CoinCap
• Coin Stats
• LocalBitcoins
• com
• Binance
• Robinhood Crypto
• Paybis
• IO

Why Are Investors Crazy Of Coinbase-like Cryptocurrency Exchange Mobile App?

 Coinbase, the most popular cryptocurrency platform for Android and iOS, is gaining popularity from global investors due to its appealing User Interface (UI), user-friendly features, secure transactions, and error-free performance.

Features of the Coinbase-like Cryptocurrency exchange app:

 Here are a few reasons behind the higher downloads of leading crypto apps like Coinbase.

• Simple onboarding process and attractive UI
• Coinbase crypto exchange application ensures secure offline storage of digital currencies
• This best android application supports the trading of a variety of popular digital currencies.
• Coinbase-like the best cryptocurrency exchange app makes buying bitcoin, bitcoin cash, Ethereum, Ethereum classic, litecoin simple and faster.
• A user-friendly dashboard allows users to view the current values of their assets all the time on-the-go
• Best for both beginners and seasoned experts to start their crypto journey
• The app is featured to store 98% of crypto assets offline.
• The facility of locking crypto profiles with a unique password makes this application more reliable.
• Users can block their profiles remotely if they lost their mobile devices.
• Instant money deposits and remittance services are offered by Coinbase.
• The app is flexible to accept payments through multiple modes such as credit cards, Paypal, and net banking
• Regular updates on transactions, balances, and digital assets
• Exchanges currency at the best conversion rates
• Give users an option to explore all features on the dashboard.
• The app sends push notifications to the investors regarding the best prices of digital currencies and make their trading profitable.
• Integration of crypto wallets feature allows users to send and receive digital currencies with ease.

These are all unique features of the coinbase crypto app. These standalone features of Coinbase-like apps for Android and iOS are increasing their popularity across the global markets.

If you are looking to hire the best mobile app development services provider in USA, you can end your search here. USM Business Systems, the best native mobile app development company in USA and India, offers you best-in-class app development services ranging from requirements gathering, ideation, and prototype design to UI/UX design, development, and deployment.

Let’s Talk To USM, the best cryptocurrency app developer in the USA, and Get a free app quote!

Tech Stack For Developing A Cryptocurrency Exchange App

Here is the best tech stack for developing cryptocurrency exchange applications for mobile devices.

 Technology stack for cryptocurrency exchange app development on the Android platform:

• Android Development Tool- Android Studio 3.1.3
• Programming Language- Kotlin
• Database – Backend database(MySql), SQLite local database, Room local database
• Design – Material design

Technology stack for cryptocurrency exchange app development on iPhone platform:

• iOS tool kit– Xcode 9.3
• Programming Language – Swift
• Database – Mysql
• External APIs integration: push notifications, Payment gateways, etc.

React native or Angular is often used to ensure the best interfaces and quick development of coinbase-like crypto apps development.

One of the advantages of using react native language for cryptocurrency app development is code reusability and platform independence. It means the mobile app developers can write a single code and use it for app development on Android and iOS platforms. It saves a lot of developer’s time and saves your budget.

Recommend to Read: 10 Best iOS App Development Companies In The USA

The Cost Of Coinbase-like Popular Cryptocurrency App Development In 2022

The Cryptocurrency App Development or digital currencies exchange app like coinbase development cost depends on features that you add to your application.

In addition, the location and team size of native mobile app developers will also greatly impact the overall development cost of the coinbase-like cryptocurrency exchange apps.

Further, the cost of bitcoin apps will also depend on the technology stack that your AI application development company picked for building an app on desired platforms.

App features, technology stack, application development platform, mobile app development company team size, location, and hourly rate all decide the cost factor of cryptocurrency app development.

USM, being one of the popular mobile app development companies in USA and India, estimates that the cost of developing a cryptocurrency exchange app with basic features and functionalities will range from $25,000-$50,000.

The average price range of cryptocurrency exchange applications will go beyond $150,000 if you want to add the most advanced features. Integration of advanced features such as QR code scanner, digital invoices, transaction details, multi-authentication processes, and easy logout features will increase app development time and cost.

Hire the best mobile app development company that can build you a flourishing cryptocurrency app with world-class features.

What are the Blockchain Applications?

Blockchain app is also known as a DApp. A blockchain has no server that plays the role of an intermediary between users that send messages, money from your account, or data. This opens lots of possibilities for many industries, which is why blockchain app development is pertinent to most businesses.

The block chain has already started to disrupt the financial services industry, and this supports the digital currency, i.e. Bitcoin transaction. With block chain technology, users can communicate directly and transact over the Internet without third party interference. Besides, it helps stamp out frauds, reduce risk, and bring transparency to several apps in a scalable method.

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In this article, we discuss the benefits of blockchain-based applications and how to develop an app.

Source: GoodFirms

Let’s understand the blockchain step by step procedure to build an application successfully.

Step 1: Problem Identification and Goal Definition

This is to establish the purpose of your blockchain mobile app by understanding the current issues the users are confronting, examining an existing solution, and deciding how your app will solve all those issues. It will help you in choosing the most appropriate blockchain solution.

Perform a cost-saving analysis to decide if the app is worth to the investment and survey potential threats or risks. If you feel a solution is really worth your wallets money and time, then you can proceed with its app development.

Step 2: Choose the suitable Consensus Mechanism

As we said earlier, Block chain systems are decentralized and need network users to authenticate the transaction. Depending on your app requirement, you should evaluate the best consensus technique.

Normal techniques incorporate Proof of Stake, Round Robin, Proof of Work, Proof of Time, Round Robin, Federated and Byzantine Fault Tolerance among other methods.

Consider these standards to select the right consensus mechanism for your application:

• Trust in validators
• Anonymity of validators

Step 3: Selecting the Right Block chain Platform

Block chain Platform enables you to create an application without coding block chain from starting stage. The most common examples of platforms are Quorum, Hyper-Ledger Fabric, BigChainDB, and Ethereum. Let’s take all the following methods to select the suitable perform for creating blockchain android app.

• License: What is a Licensed Platform? Isn’t it completely free?
• Network Type: Is it a private or public network?
• Activity: Is it very active? How frequently does this platform receive update patches?
• Popularity: How pioneer is the block chain platform? Is the community bigger around the venue?
• Ease-of-access: Is it easy to use? How scalable is this platform?

Step 4: Deciding the Application Model

Determine whether you want to use home, cloud, or hybrid model. It would be best if you also decided on the right block chain solution to develop.

You can select public, private, licensed, unlicensed, private or hybrid blockchain model for your application. In addition to this, you should the best stock depending on the platform you have selected.

Step 5: App Configuration

As many components cannot be changed once configured, the block chain application configuration is very critical. If you don’t know the right configurations for your smart app, it is advisable to consult expert app developers like USM Business Systems.

Step 6: Building Application Programming Interfaces

Although there is much pre-built Application Programming Interfaces (APIs), you again need to build customized Application Programming Interfaces for block chain software development.

APIs may be for essential pairs, data verification, smart contract interaction, data storage and retrieval, and address generation, among others.

Step 7: UI & Admin Console Design

You should decide on the best external database, front-end programming language, server for the application, after planning the backend components. It is advisable to utilize a cross-platform application development language to build a single mobile application that can be portable on iOS and Android platforms. The UI will offer all the required functionality and should be easy to locate.

Step 8: Testing and Scaling

Using the MVP (Minimum Viable Product) model is the best methods to build a workable POC (proof of concept) solution and test it to detect latency, crashes, storage and memory problems and performance issues.

Once the problem has been determined, resolve the issue and move on to check for other errors until the app is completely functional.

While creating a smart application on the blockchain or making cryptocurrencies tracker app in android, you will get so many insights from the existing block chain community on massive development forums.

The blockchain forums are full of block chain professionals who are skilled in sharing data and assisting others in solving a given problem.

Step 9: Launch and maintain your application

The last and final stage of blockchain app development is deployment. Once the product is ready and you have done with all the final tests, your app device will be revealed to the world via Apple App Store, Google Play Store, or other app stores, so that users will buy and download it from there. Now, you can collect data in your DApp and see how people are using this it.

After launching the app, maintaining the blockchain app is very important. To maintain its security and functionality, you required to update the applications to support the latest versions of libraries and operating systems.

Final Words

Blockchain is an incredible technological innovation, and though everybody is buzzing about it, a few organizations incorporate blockchains into their products.

Decentralized applications are more secure than any application; they give quick universal exchanges, give straightforward capacity and guarantee that information cannot be changed. Block chain innovation is as yet developing, and you can apply it from multiple ways to existing or new companies.

If you are planning to create to develop a blockchain app, connect us immediately.

At USM Business Systems, we can assist you in creating a DApp, consult your enterprise strategy, and provide an estimated cost of blockchain application development.

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Benefits of Combining AI and Blockchain

After the integration of Blockchain & AI technology, it becomes one single entity, which helps to solve many issues and open new opportunities. Some of the benefits are-

#1 Improved Decision-Making process

The combination of Blockchain and AI improves the decision-making process. AI tools help to find out risks and other scams linked with any transaction, whereas, Blockchain helps to boost the accuracy of the information with the help of its easy and safe data auditing procedures.

#2 Enhanced Security and Privacy

The Blockchain and AI integration will provide personalized experiences to the customers. While Blockchain concentrates on the security of the data by using the best cryptography encryption method, artificial intelligence works with complex data. In case AI fails to provide accurate personalized experiences to the customers because of data violation, then Blockchain will prohibit the situations. Hence, security and privacy to the customers data.

#3 More Reliable

The combination of Artificial Intelligence and Blockchain will enable customers to check how their data is securely stored, processed, and utilized. This will help them to review every single phase of the digital transaction process, which will augment the trust of the customers.

#4 Boost Accessibility

In online transactions, the chances for fraud actions will be more. But, the mix of AI and Blockchain will eliminate the problems related to digital transactions. They boosts the productivity of the operations, provide accessibility, better security, and lessen the cost associated with it.

#5 New Business Models

The amalgamation of Blockchain and AI becomes very beneficial to introduce new business models. Blockchain will deliver access to the transnational data of the whole business network. The complete information helps the AI system to get better understand the characteristics, configurations and other important factors of the business. All this information becomes a very valuable asset to take the right decisions for your business.

#6 Advanced Smart Contracts

Smart contracts provide different benefits such as fewer conflicts, better speed, enhanced storage of data, etc. to the business. But because of the complexity of the process, their usage is limited. After the combination of Blockchain and AI, smart contracts able to encrypt and authenticate the complex profitable connections.
Now, after getting the benefits of these two technologies, it is time to get a deeper knowledge of its impact on various industries. So, let’s start.

Impact of AI-Blockchain by Industry

#1 Healthcare

These technologies provide both healthcare service providers and patients experience a different level of service. These technologies together provides security against cyber-attacks, and gives access to data to the patients and authorized doctors. It gives full controlling power of the data to the patients, so that they can share their data with anyone and get personalized recommendations.

Recommend: AI-powered Healthcare Mobility Solutions

#2 Retail

The blend of AI technology and Blockchain empower the retail business. It will give access to retailers to record the feedbacks of their customers and save the entire procedure. In case their marketing plan fails, the record helps the retailers to find out the factors for their market downturn. It also improves the payment methods and eliminates fraud risks.

Recommend: What Artificial Intelligence Can Do For Retail Industry?

#3 Supply Chain Management

The blend of Blockchain and AI enhances supply chain management services. The processes include tracing the purchasing orders, keeping the record of the transactions, connecting goods to their data, sharing the order data of the products and doing predictive analysis. They will help the businesses to create more value and advance the logistics operations.

#4 Finance

AI and Blockchain will modernize the Finance industry. While AI technology reduces the need for human beings to comprehend the feelings of humans, Blockchain as smart contracts will build the trust factor. This amalgamation improves the performance of the finance industry.

Recommend: How AI Will Impact The Accounting & Finance Industry?

#5 Government

These technologies eliminates the dependency on the big assembly of people to control data and transfer to the public securely without harming the quality of data. For instance, AI technology and Blockchain help in tracing the e-voting process.

Conclusion

Blockchain and Artificial Intelligence provide huge benefits to different sectors. Projects involved in these combinations are very rare, since it is still unexplored field. The relationship between these two technologies takes technology to an untouchable level.

USM also realized the importance of the AI & Blockchain and produce powerful solutions for different sectors. Are you ready to take part in this revolution? Connect us now!

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