Currency Converter App Development 2021 – Crucial Features & Cost Estimation

As we all know, mobile apps are so much in demand. People use numerous apps daily to make their life comfortable and convenient. According to the report, an average user spends 2 hours and 12 minutes on their mobile phone. This is equivalent to almost 33 days a year. And more surprisingly, this number is supposed to grow to 39 days (2 hours and 35 minutes a day) in 2021. Ninety percent of this time of people is spent on mobile apps.

No wonder there is a great demand for mobile apps among people all across the globe. They are using mobile apps for almost every work. One of the main reasons behind this is the ease the app offers to people. These days, the currency exchange and money converter app are in a significant trend. When businesses are operating between different countries, the conversion of currency is something that requires every day. As we know, the currency rates keep on fluctuating now and then, so businesses need to have a currency converter app. The app can help them in monitoring real-time currency exchange rates and many more.

Here, we have various trends that reflect a demand for this type of apps.

Look at some of the following trends: mobile app development companies

  • International tourism, a global industry, is growing super-fast. If we count just European travelers, then it is approximately 670.6 million tourists. If people travel to a foreign country, they require an app that can quickly compare the country’s prices with their domestic currency.

  • These days, people are quickly moving to online platforms for shopping and numerous activities. As International E-commerce is becoming more and more popular, it automatically increases the need to know about your currency prices.

  • With the borders get blurred, the freelance economy has booming. Here, altering your rates according to the country of your client is a given. And no wonder the currency converter app helps you in doing so.

Features to include in a currency converter app:

  • Exchange rate auto-update

As we have earlier mentioned, the currency rate keeps on fluctuating now and then. No wonder the exchange rate auto-update is an essential feature that you must include in your app. This feature helps users to see the current rates quickly.

  • A must-have calculator

A steering wheel is essential in a car like a calculator is essential in the currency converter app. If you don’t include a calculator in your app, then the app would make no sense. The calculator in this app helps users to have easy multi-currency conversions.

  • Show conversion history

These days, Most of the users want to look at the history of the conversion rates to analyze the situation in a better way quickly. Hence, it is essential to include a display conversion history feature in your currency conversion app.

  • Support virtual currency

In this technological era, we have seen almost everything going virtual, including currency. Though Virtual currency might have created a lot of controversies still, we can’t doubt its presence. The European Cryptocurrency Exchanges market size was USD 5165 million in 2019, and it is anticipated to reach USD 15263 million by the end of 2026, with a CAGR of 16.94% during 2021-2026.

Hence, your app must support the virtual currency feature.

  • Price tracking feature

In the currency convertor app, it is essential to include a rate alert feature. This feature can help users know when a particular currency rate goes above or below at a certain point.

How much does it cost to create a currency conversion app?

As we all know, any app’s cost depends on its features, complexities, location, and the team that create the app. If we talk about creating a currency conversion app, let me tell you it’s not that tough. It’s quite a straightforward process and doesn’t require so many resources. Generally, a currency conversion app costs around $3000 to $10000.

As the world is becoming a global village and businesses are operating worldwide, creating a currency exchange and money converter application would be wise. There are numerous applications available in the market that are providing significant results. Some of the currency convertor apps include XE currency, CalConvert, My Currency Converter, and many more. If you are looking to create a fully-featured currency converter app for android and Ios, you can connect with the leading mobile app development company, Mobulous, India. We are here to help you.