Cryptocurrency Exchange Software Development: 2024 Guide

Cryptocurrency operations have become indispensable tools for effective financial management, with the global market expected to generate $51.5 billion in revenue by 2024. Financial service providers are delving into crypto exchange development to capitalize on the growing demand for digital asset trading platforms.

With more than 9000 active coins being traded, the necessity for user-friendly and secure cryptocurrency exchange software solutions is escalating daily. Thus, establishing your own exchange not only provides a competitive edge but also expands market reach and opens up new revenue streams.

Acropolium

For the last three years, Acropolium teams have been developing innovative fintech software to modernize and digitize our clients’ financial processes.

Let’s explore our success stories in crypto and SaaS solutions and learn how investing in features that satisfy your users can drive revenue growth.

What is Cryptocurrency Exchange Software?

Cryptocurrency exchange software allows users to buy, sell, and trade digital currencies on a designated platform. These platforms serve as a marketplace where users can exchange assets using cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc.

Key features of such software include:

• order matching,
• trading charts,
• wallet integration,
• security measures for smooth and secure transactions.

Global Cryptocurrency Market Size

The projected revenue for the cryptocurrency market is anticipated to hit $51.5B by 2024, with a forecasted CAGR of 8.62%. This trajectory is expected to result in a total revenue of US$71.7 billion by 2028.

Types of Crypto Exchanges

Understanding the distinctions among various types of cryptocurrency exchanges is crucial in selecting the appropriate platform. Centralized exchanges (CEX), decentralized exchanges (DEX), and peer-to-peer exchanges each have unique characteristics and functionalities.

Here’s a brief comparison that will help you on your way in cryptocurrency exchange software development:

• CEXs offer high liquidity and advanced features but require users to entrust their funds entirely to the platform.
• DEXs prioritize security and privacy by eliminating intermediaries but may offer lower liquidity and fewer trading options.
• Peer-to-peer exchanges offer flexibility and anonymity but may involve higher counterparty risk and lower liquidity compared to CEXs and DEXs.

Cryptocurrency Exchange Development: Key Features

When conceptualizing your crypto SaaS product, you begin by envisioning the functionality desired by your target users. While you can innovate within traditional usability norms, there are indispensable features that every crypto product should provide:

1. Two-factor authentication (2FA) and biometric authentication are essential for safeguarding user accounts against unauthorized access during cryptocurrency exchange software development.
2. Robust security measures, including encryption, DDoS protection, cold storage for funds, automatic logouts, and regular security audits, are imperative to protect user funds and data.
3. Compliance features like Know Your Customer (KYC) verification, Anti-Money Laundering (AML) checks, and regulatory compliance tools are crucial to meet legal requirements and foster user trust.
4. A comprehensive admin dashboard with tools for managing users, transactions, trading pairs, and fees is essential for smooth operation and administration.
5. Implementing a robust order-matching engine is necessary to efficiently match, buy, and sell orders in real-time, ensuring seamless trading operations.
6. Supporting multiple cryptocurrency wallets and offering a secure QR code generator for depositing, withdrawing, and storing digital assets will enhance platform security.
7. An intuitive and user-friendly trading interface equipped with advanced charting tools, order types, and trading pairs improves the trading experience.
8. Liquidity management tools on the platform ensure sufficient liquidity across various trading pairs, minimizing slippage and optimizing trading opportunities.
9. Providing customer support through live chats and phone assistance fosters trust and loyalty among customers.
10. API integration features enable third-party developers to build trading bots, algorithmic trading strategies, and other applications on top of the exchange platform.

How Much Does It Cost to Create Crypto Exchange Platforms?

The cost of crypto exchange platform development can vary widely based on several factors. These include the range of features, complexity of functionality, development approach, technology stack, and the location of the development team if outsourcing.

Keep in mind that the more complex your desired app is, the longer it will take, and the more developers will be needed to bring it to market.

For more accurate cost estimates, it’s crucial to assess your project requirements and consult experienced vendors specializing in cryptocurrency exchange development services. Due to the complexity of crypto exchange development, you can get a general idea with approximate platform development cost:

• A platform with basic functionality might take 3–6 months for development, costing anywhere from $50,000-$100,000.
• Medium-complexity cryptocurrency exchange software might take 7–9 months, requiring approximately $125,000-$225,000.
• A high-complexity solution is likely to take 10+ months, with development costs starting at $250,000+.

Acropolium’s Experience

Acropolium is your go-to partner for cutting-edge cryptocurrency exchange software development, leveraging our deep expertise in fintech. We specialize in crafting GDPR-compliant solutions with ISO-certified processes, ensuring top-tier data protection and industry best practices.

With a strong record of success in fintech solutions, our portfolio showcases remarkable achievements:

Cryptocurrency Trading Platform

Tasked to create a crypto trading platform MVP to aid the client’s in-house developers, we optimized architecture and provided documentation for seamless integration. Our approach included introducing new features, employing Scrum methodology, conducting audits, and suggesting architectural enhancements.

Our cooperation resulted in a 53% increase in client flow and a 30% reduction in time to market within six months.

SaaS-based Cryptocurrency App Development

For a client seeking a beginner-friendly SaaS crypto platform with a robo-advisor, we delivered a solution enabling easy exploration and diversified trading strategies. Our team swiftly addressed technical challenges, integrated diversification features, and provided comprehensive performance metrics.

As a result, the client saw a 250% surge in user registrations, a 119% increase in trading volumes, and a thriving community of traders and investors.

Final Words

In a booming cryptocurrency market, the demand for innovative exchange platforms is soaring.

Acropolium leads the charge, offering tailored solutions that redefine user engagement with digital assets. Our commitment to excellence ensures intuitive, secure platforms that evolve with market needs. From integrating financial tools to developing from scratch, we bring your vision to life.

Contact us today for flexible, subscription-based cooperation where your goals and budget are priorities.