A cryptocurrency is a virtual or digital money which takes the form of tokens or coins. The “crypto” in cryptocurrencies refers to complicated cryptography, which allows for the creation and processing of digital currencies. Cryptocurrency is devoid of government involvement.
As of January 2020, there are 2000 types of cryptocurrencies in existence. Many of those tokens and coins enjoy immense popularity among a dedicated community of backers and investors. Beyond that, the field of cryptocurrencies is always expanding. This field shows that the exchange of cryptocurrency is essential for the growth of the business. The coinbase clone application is a comprehensive cryptocurrency platform that allows the exchange of currencies like Bitcoin(BTC), Ethereum(ETH), Litecoin(LTC), Ripple(XRP), and many more.
Benefits of Coinbase platform:
- Easily Understandable
- Equipped with a two-way authentication feature
- Operations in a 24/7 System
- Quick transfer
- Peer-to-peer focus
- Elimination of banking fee
- Irreversibility of transactions
- Higher profits
- Supports multiple-platforms
Methods of transactions in Coin base application:
- Bank: This method involves linking the user account by providing the necessary information, and it allows the trade of $2500 pre-week. The downside is that it takes 2–4 business days for purchased coins and businesses to reflect in the transaction.
- Credit or Debit card: It involves the credit or debit card details. The transaction takes place immediately, but it is limited to $250 per week.
Distinguish aspects of Coinbase application:
Coinbase Clone App development Company incorporates all these user-friendly features:-
- Interactive user-interface: It has an easily accessible user interface. The In-app chat option will resolve queries for the user.
- History: The history has all the previous transactions that have taken place. It gives a detailed view of each proceeding.
- Networks for traders: It includes communication channels between the traders via In-app chat option.
- Secure transaction: The two-way authentication ensures that the details of the participants are protected. It will further prevent the details from hackers.
- Multiple coin support: Application supports a range of cryptocurrencies.
- Live Markets: It lists the current market conditions.This helps user to access the current trends.
- Promotion platform: User can advertise their cryptocurrency they are to offer.
Conclusion:
The coinbase application promotes a safe medium for business transactions. The platform supports a wide range of cryptocurrencies. The user can view the current market and decide the business aspects.