As the world has changed into a global village, individuals from around the world are doing different business with each other very easily. Some individuals are doing jobs abroad and they have to change their local currency to the currency of the country where they are existing. The process of changing one form of currency to another’s country currency is called currency conversion. The present exchange rate will control whether the person will receive less or more amounts when the currency is changed. Foreign assets are one of the main pointers of a country’s economy. The high the foreign reserves of a country the more powerful will be the economy. So that’s the reason some companies are developing Currency Converter App for exchanging money most easily.
The necessity for a Currency convertor app:
The currency rates keep on fluctuating every day. It is a difficult task for businessmen to keep a look at the foreign currency exchange rates constantly. To overcome this, currency convertor apps play an important role. By using currency convertor apps anyone can simply monitor real-time, and accurate currency exchange rates. Some of the chief features of currency convertors apps are.
- It delivers real-time exchange rates as the currency rates keep on fluctuating each moment.
- A currency converter app has a price tracking feature. One can easily guess the price of a product by making use of this app.
- The currency converter app has the choice to convert a currency to any country’s currency exchange rate.
- A currency converter app can analyze the exchange rate of a currency and indicate its past index.
- With a rise in demand for E-Commerce businesses, the request for a good currency convertor is also growing.
Why are industries looking for currency converter apps now?
Recently, companies are doing business all over the world. Business people, have to make payments only in foreign currency. Hence, both parties need a rapid solution that gives them all the obligatory information for currency conversion. The currency converter app allows all the users to track the exact value of a currency in real-time & exchange rates. Here are the extra benefits of using a currency converter app that tempts businesses
- The currency converter app expresses exchange rates in real-time as currency values vary every moment
- This app supports businesses in guessing the price of a product in foreign currency
- A currency converter app has the skill to analyze the exchange rate
- This app is useful in the eCommerce industry. It supports customers and sellers to get the most correct price of a foreign currency and make a knowledgeable buying decision.
Features of a Currency Converter App
The currency converter app is made of elements that make the lives of users very easier and faster. Here are the important features that you want to consider to build an awesome currency converter app are
An app that Supports Virtual Currency
We are living in a time when we have witnessed everything going virtual. Therefore, there is a good probability that all the users could be in for virtual currencies.
Show Conversion History
Many users will be professionals who would be depending on the currency conversion rates. They would need to look at the history of the conversion rates so they can analyze the situation well. So, you should allow your users to view conversion history.
Auto Updates for Exchange Rate
The app should show the conversion rates as rapidly as possible. And this could only be possible if you have enabled auto updates.
A Must Have Built-in Calculator
The app must include a calculator to allow quick multi-currency conversions in your app.
Rate Alert Structures
Many users would be desiring for the conversion rates to go up or go down. You should comprise an alert feature that will send them an announcement when the rate of a specific currency goes above or below some point.
How can You Get Live Currency Rates?
Fetching the live currency rates is an important thing for a currency converter app. There are numerous third-party APIs, which you can use to give live currency updates to your users.
How to Make Revenue from a Currency Converter App?
Eventually, you want to make revenue from your currency converter app, and here are some ways to do so
Advertisements in the Mobile App
This is the easiest way to earn money through an app. If you think running ads is the finest option for you to earn money, then you can go for it.
Rate Alert Feature
If there is an alert feature that informs the user when the rate hits a firm amount, users would be prepared to go and pay for it.
Steps to do When Developing Currency Converter App
If you wish to develop a currency converter app you can follow these steps
Select a Quality App Growth Service
If you think you can make an app by yourself, there is a probability that you are mistaken. Anyone who needs to match the popular currency converter apps should research and discover a quality app development service. Your choice should be based upon the level of expertise, portfolio, and reputation among customers. But, if you want to take a cost-leadership method and provide an app cheap than your competitors, comparing the prices of different services is an outstanding way to start.
Decide What You Need
You should decide which one you wish to progress. This decision will be based on who your target spectators are. Individuals who want to compare prices will be pleased with a simple currency converter. You can develop an app that can be used for straight conversions of exchange rates for currency calculation.
The Designing Procedure
Before you think about User Interface, you must choose which platform you are making an app for. This heavily changes the designing process as the operating systems are starkly diverse from one another. In the design process, you must reason about how the interface of your app will appear. The key is to make it user-friendly as no one wants a complex currency converter. In its place, all the customers want is a minimal design that is easy to direct. So, rather than opting for intricate designs, keep it simple and include the calculator, exchange rates, and list of currencies in your User Interface.
Add Value-added Structures
Apart from the chief function of converting money from one currency to another, the app should have some features you should consider adding
- An extensive range of maintained currencies so that it can profit your app
- The more currencies the app supports, the more diverse your target spectators can be
- There is a trade-off between currencies you support & user-friendliness. The additional currencies you have, the more users will have to find their desired one
- The app should be fast to incorporate conversation rate changes in real-time
- Conversion history & graphs are more convenient for users to find the currency they are watching for
- User-friendliness should be your priority irrespective of what type of app you grow – All you need to do is enhance a quick access option and hunt for history-based recommendations. This can meaningfully reduce the time your users will spend trying to look for the currency they need.
Appointment of an App development service provider
To create a good currency converting app, we must hire quality app development providers. For this, we must refer companies that achieve our requirements and prospects. We must analyze their selections, the reputation they have in the market, and the quality they give.
The financial value of currency converting app
A valuable revenue model is necessary for the accomplishment of any mobile app. After rising a currency converting calculator and beginning it into the market, developers have to earn money. Furthermore, the developers can earn by making the app available on iOS and charging some price for its subscription. They can launch a simple version of the app for free but for adding features users have to pay for a premium. Advertisements can be introduced in the app to earn money. For the achievement of a currency converting app, one has to come with a unique design & user-friendly feature.
How Can You Earn a lot from a Currency Converter App?
You can make it available on Apple App Store and can also charge a price for the app. And for an Android app, make it available on Google Play and you can also make money through ads. A third option is to choose a free model whereby many features are available for free while others often demand a premium.
Conclusion
A currency converter app is the necessity of the hour in the current market. It is a useful mobile app idea that can help numerous industries. Companies do business across different countries. CodeKing Solutions helps in designing a fast, and seamless currency converter app that is growing considerably.
Wants to know How to Develop User-Friendly Mobile Applications for customers? So we also had a blog on this topic you can read it by clicking the URL.
