The cost of P2P crypto exchange development can start from $4000 worldwide. Mostly cost differs from company to company based on the complexity of software features, integration, add-ons, design patterns, and several other factors.
Also, it depends on the complexity of your project, types of technologies and stacks employed. Based on our expert recommendations, we provide the following best steps to estimate the cost of P2P crypto exchange development.
Step 1: Discovery Phase
The discovery phase lays out the blueprint for your exchange platform and determines the specific technical issues that require resolution. From here, you can start understanding end-to-end processes like feature sets, technology stack, and deployment.
Step 2: Break Down the Scope
For startups, you can divide the P2P exchange development process into several stages. It is recommended to start with a prototype and develop a Minimum Viable Product (MVP).
After the MVP is released, by gathering customer feedback and you can proceed with adding on-demand features to your platform.
Step 3: Determine Tech Stack
The more complex your project, the more likely you need various sorts of programmers with different skill sets like UI/UX experts, designers, front-end and back-end developers, admins, testing, etc.
So, estimate the experience, roles, and technology stack of your P2P crypto exchange development on schedule and budget initially.
Step 4: Divide into Smaller Tasks
By dividing the P2P crypto exchange development process the total estimated cost can be broken into small tasks or more manageable pieces. So that you may have a generic idea of how long each task will take.
For instance, if you need to develop a new feature for your P2P exchange, divide the cost of developing the platform feature into sprints, each sprint being a duration of one month. Then estimate these sprints accordingly.
Step 5: Make a Cost Breakdown
A breakdown of the cost of P2P crypto exchange development will help you estimate the exact cost of a project. By consulting with several cryptocurrency exchange development companies, you can discuss with their expert to get the exact cost for the project according to your needs and preferences.
So you can assess various aspects separately including UI/UX design, business analytics services, front-end & back-end, and testing.
Step 6: Calculate Possible Budget Deviation
Most startups assume that the price of developing a P2P cryptocurrency exchange will always be fixed. However, after the project is budgeted for and launched, some unforeseen costs may surface.
Moreover, clear costs with some potential deviation and ways to smooth them out are the best way to prevent budget problems and deliver your product on time.
By following these steps, you can estimate the cost of your project without any hassle. By estimating the cost, you can easily understand where you need to spend and where you need to cut money.
Hope the above information will help you evaluate your crypto trading platform development better. In these above-mentioned things, step 5 is the most crucial among the other steps. If you are stuck anywhere in estimating the cost, you can easily get rid of it if you approach the right P2p cryptocurrency exchange development company.
Enliven your dream project and create an outstanding P2P crypto exchange platform!