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Client
The client is an Australian-based online forex broker founded by industry veterans with 50+ years of combined experience. Their company aims to deliver radically low trading costs and exceptional customer support to traders at all levels, making crypto exchange accessible and affordable. Regulated by leading authorities, they offer a secure and transparent platform for trading diverse financial assets.
Business Challenge
Cryptocurrency traders often face several challenges using cryptocurrency exchanges: high trading fees, hidden charges, and unclear pricing models are common. Those issues lead to unpredictable costs involved in transactions. The client wanted to increase transparency and decode complex fee structures.
In addition, many competitor platforms offered clunky user interfaces, making the trading experience inefficient for both beginners and experienced users.
Solution
The client partnered with Coherent Solutions to start crypto exchange platform development and get a more straightforward and cost-effective solution for addressing crypto traders’ pain points.
Extensive expertise in financial markets helped the client define key features of the crypto exchange solution, which our team successfully implemented.
Flat Fee Calculation
The platform offers a transparent fee structure with a flat 0.25% trading fee. There are no hidden charges, additional fees for conversions or different order types, or complicated fee tiers based on volume — traders know what to expect with each transaction.
Intuitive User Interface
The straightforward user interface caters to both novice and experienced traders. It prioritizes accessibility, makes the crypto exchange platform simple for first-time users, and provides powerful optimization tools for advanced traders.
Security as a Top Priority
The client relied on our development team to incorporate industry-standard encryption and two-factor authentication to handle transactions and user data safely at all levels.
Crypto Exchange App Development
The client requested mobile app development for Android and iOS to make the platform even more accessible to users. The development is currently underway and will soon enhance the user experience.
Project Timeline
Phase 1: Beta Version
1.5 years after development started, our team launched the beta version. This version was deployed only for the stakeholders, giving enough time for initial testing and feedback.
Phase 2: Production Release
6 months after the beta launch, we released the product. The platform was fully deployed to production and is now available to the public, with added payment methods and a new crypto exchange provider integrated.
Phase 3: Crypto Exchange App Development
5 months after the production release, our team started creating a mobile application. The app for Android and iOS began to further expand accessibility and functionality on the go for crypto traders.
Impact
The crypto exchange platform provided a seamless trading experience and transparency without hidden charges or complicated fees. Over a two-year span, Coherent Solutions delivered results on time and helped the client achieve important overarching business outcomes:
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Sleek and weighty transactions: Within the first month after the product launch, over 150 new users processed more than $2 million in transactions.
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Early success: The platform’s transparency, flat 0.25% trading fee, and no hidden charges resonated with traders.
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Mobile access: Ongoing mobile app development for both Android and iOS will further enhance accessibility.
The collaboration with Coherent Solutions helped the client set the stage for long-term growth and position the platform as a trusted solution for crypto traders.
