There are already some dApps having a large user base and earning a massive chunk of profits like Augur, Basic Attention Token, Cryptokitties, MakerDAO, Compound, Finance, Gods Unchained, and Kyber. 

These apps follow various monetization models like Native Utility Token, NFTs, earning through Transactional Fee, Asset Management, and Advertising. Since there are multiple sources of revenue, dApps have come out to be a very viable business model for companies.

However, before explaining the monetization models of dApps, let us first delve into the overview of dApps and how they are approaching the world.

What is a dApp?

A decentralization application (dApp) is an open-source application. dApps are more transparent and accountable than existing applications. The goal of decentralized application design is to avoid even a single point of failure.

Blockchain is the critical tech behind the dApps. dApps vocalize their longevity. Unlike centralized functionalities, blockchain allows data blocks to be available and completely open to anyone.

Decentralized applications implement multiple blockchain features that include:

• No user can manipulate the data. Hence, no fraud activities can happen.
• Hashing (mapping a block with a unique address) concept makes it impossible to tamper with the blockchain data.
• Peer-to-peer network security makes it impossible to breach the network.

These features provide several benefits of using dApps. They ultimately enhance the earnings:

1. No downtime

dApps provide zero downtimes because the smart contracts will be available on every node in the blockchain.

2. Data integrity

All data and records are on a public, immutable blockchain. Any malicious attempt cannot forge the data that has already been public.

3. Privacy

Smart contracts help the users not to provide any real-world identity.

dApps market potential and growth – Facts and figures

In recent years, the Decentralized Application (dApp) market has witnessed enormous growth at a Compound Annual Growth Rate (CAGR) of 56.1%. It is believable that the dApp market size will reach USD 368.25 billion by 2027.

Multiple benefits support such estimates. These include fast transactions and flexible and reliable technology usage. dApps uses blockchain technology which reduces the chances of fraud activities.

Multiple reasons and statistics showing the growth of dApps are as follows:

1. Data decentralization

The user data is not centralized. Hence, dApps do not require KYC verification because the data gets stored at the node (user side) itself.

2. Minimal transaction failure risk

The E-commerce industry is showing annual growth of 56.5 % (As analyzed in 2019 in the US). There is a minute risk involvement of transaction failures for traditional applications. However, dApps reduce this risk which can induce market growth.

3. Market share

dApps market share in North America is around 36.8% (as per the survey conducted in 2019). This outcome tells us about the dApps growth capabilities around the globe.

Monetization models of traditional apps 

There are multiple business models for traditional apps. These models help companies to monetize their applications. 

It is essential to understand the final goal of the application. Its ultimate goal might be to focus on gaining users or earning revenue.

Depending on that goal, the organization selects an application monetization strategy. Below mentioned are some of the popular tactics for monetization of traditional applications:

1. In-app advertisements 

This business model is the most vivid strategy. The main aim of in-app advertising applications is to allow their users a free download. In other words, it prohibits users from paying to use the application.

Users see the advertisements. The data collected by the application helps in shortlisting which advertisement is best for a particular user. After that, the organization stores and presents the data to many advertising companies.

2. In-app purchases

This business model is almost similar to an in-app advertising strategy. However, certain features cost money to unlock and get used by the user. In simple words, there is a charge for using proprietary components of the application.

A good example that perfectly fits this strategy is “Canva’’ (a photo editing app). Canva is a free version application. It keeps a collection of features hidden from free version users. Once the user pays upfront, the features unlock themselves, providing value for money.

3. Affiliate marketing

The affiliate marketing monetization model involves the user onboarding an application platform with the help of a referral link. The referral link provider gets a reward for each user joining the application.

The reward depends on the traffic or clicks sent by a referral link to the promoter’s website. In some dApps, the prize is in the form of a digital token.

“Amazon pay” is a prime example. The referral link user gets a certain predefined reward amount.

4. Subscriptions

Under this business model, all application features are available for usage for free. This liability is for a limited pre-defined tenure.

Once that tenure finishes, the application prompts the user to buy/pay for the subscription to continue using application features.

This model helps applications earn a handful of revenue regularly. “Amazon prime” and “Netflix” are the best examples of the subscription models. These streaming platforms allow the viewers a free streaming service for 30 days on a trial basis. After that, the application prompts the users to pay for the services.

Monetization opportunities in the dApp

Just like traditional applications, dApps also focus on earning a handsome revenue. There are multiple methods that dApps entrepreneurs use to make money for their dApp.

The following part of the article explains those models.

1. Crowdsale and launching token 

The term crowd sale means issuing tokens (electronics records) that the trader can store on their device. In general terms, a token is similar to a share of a transactional stock (Sell, Buy). 

Crowd sale offers new cryptocurrency or new tokens as an investment for capital gains. This new cryptocurrency then launches a token for blockchain businesses to earn massive capital flow.

2. Transaction fee 

Another model is charging a transaction fee for crypto trading purposes. Under this model, multiple dApp platforms charge users to avail of their services.

It is one of the most popular methods to monetize a dApp. For instance, a user purchases something from another user. Suppose 2% is the transaction fee amount to the service provider. Then, (100-2%) is the actual purchase value of the user.

3. Premium versions 

Centralized applications help in implementing this idea. Many decentralized gaming platforms allow in-app purchases.

A gaming dApp grants premium version holders a chance to skip the initial gaming level with the help of digital currency. It helps users to move ahead in-game progress.

4. Subscription model 

Do you know the best answer for how do dApps make money? Subscription models are the most fitting replies to that question. A basic functionality code helps in implementing this model in dApps. It offers certain application features for use only by the subscription or premium membership holders.

For example, a dApp will only allow users to download a song if they are subscription holders. But listening to online songs in the same dApp is an option available for all the users. It provides solutions to how we can make money with smart contracts.

This subscription is on the following two bases:

• Usage
• Time

5. Advertisement 

Earning money through sponsored content like video advertisements and banners is an excellent option to monetize a dApp.

Multiple blockchain businesses follow this monetization approach. Pi network  (cryptocurrency application), developed by Stanford University, is an example of this monetization model.

6. Donations

The craze and research involved in developing decentralized applications are increasing day by day. 

Several dApps are focusing on resolving everyday issues. Some of those are working towards a better goal. dApp development authorities directly ask users for donations on their official website/ dApp, which allows them to continue their research work.

7. Creating digital goods

Selling, supplying, and transferring goods in a dApp is possible. Digital good is a term related to such online transactional activities of goods.

Media files, such as music files, video files comprising movies or television programming, branded multimedia files, and other similar items, are some of the most prevalent instances of digital goods. Creating and selling these goods digitally is the functionality of a dApp.

8. Marketing through referral 

The referral marketing approach favors a plethora of blockchain-powered platforms

on the internet. It allows users to refer more than one dApp to other users. Depending on the referral consumption, the referral link generator gets a reward in digital currency.

dApplications and their money-generating models

The examples and instances of dApps generating high revenue in different sectors are as follows

1. Gaming applications – My crypto heroes and Dark Forest

Gaming dApps makes players play against each other. As a money-making firm (that invested in a dApp), the firm can earn a handful of revenue by sponsoring or promoting the content of multiple other organizations.

In addition, the game company owner provides investors with a small share of every luxury item purchased by the user in the game.

2. Decentralized exchanges– Uniswap and 1-inch

Stock exchanges provide the facility to the users for trading a market share. The investors get a predefined amount for every transaction fee involved in a single stock transaction. This idea eventually returns investors and businesses tremendous revenue.

3. Marketplaces- OpenSea, Ocean Market, and Decentralization Marketplace.

NFTs are pretty popular these days. Marketplaces like Opensea allow users to sell, buy or even create a new NFT. Similar to other platforms, transaction fees add to the overall revenue earned by the investor companies and the marketplace owner.

4. Payments dApps– Sablier and Tornado Cash

These apps facilitate money streaming in real-time and enable sending anonymous transactions on Ethereum. The transaction fee involved in every transfer depends on the location of the receiver and the subscription (dApp subscription) held by the sender.

The investor company earns revenue based on these factors and the percentage of fee share of the investor.

Summing up 

To sum- up, dApps are apps or programs that run on a peer-to-peer network or blockchain. There is no central managing authority for the dApps. However, various online industries are implementing such approaches because of the vast money-generating opportunities.

dApp’s low development cost, high security, and reliability make it an irreplaceable option for future dApp developments. Having answers to questions like how do dApps make money, work, benefit, and future potential facilitate securely and profitably putting vision into reality.

Combining more than two monetization opportunities enhances the sApp’s functionality, attractiveness to users, and revenue.

For a deeper understanding, you can contact the experts of Idea Usher at the following contact information

• (+91) 946 340 7140
• (+91) 859 140 7140
• (+1) 732 962 4560
• contact@ideausher.com

FAQ’s 

Why should the dApp app get considered over traditional applications?

The development under dApps has increased drastically since 2017. It covers aspects like security and transparency better than a traditional application. Hence, these are preferred.

Which are the popular dApps in cryptocurrency today?

PancakeSwap (2.98 Million users) is the most popular and most prominent dApp in today’s cryptocurrency. It is followed by Splinterlands (592.57 Thousand Users) and Alien Worlds (501.26 Thousand Users) cryptocurrencies.

Which frameworks can help develop dApp?

There are multiple frameworks available in the market for building dApps. Some of the most common and popular ones are- Truffle, Brownie, Hardhat, and Embark.

Is it hard to implement a dApp?

Unlike regular applications, decentralized applications require a cryptocurrency. Thus, after successfully deploying a dApp, it is tough to update them as they are already on a decentralized network. It makes them challenging to manage and hard to implement.

What factors determine the capital investment for developing a decentralized application?

There are multiple sectors for which a dApp gets developed. Numerous factors like the number of users, targeted industry, and the complexity of the application determine the cost of the dApp development.

The post How do dApps make money? – A detailed explanation appeared first on Idea Usher.

As insurers increasingly adopt technology, they are beginning to focus on AI (Artificial Intelligence) as their next big growth opportunity. They target improving the customer experience, reducing claims leakages and increasing operational efficiency by using data analytics and machine learning techniques. 

In this blog, we will see how AI can add value in the insurance sector, how it is impacting different areas of insurance and what’s in store for the future!

Understanding AI in Insurance

AI stands for artificial intelligence, but what does this mean?

AI is a combination of machine learning, natural language processing, computer vision and machine reasoning. It’s a subset of the broader field of artificial intelligence which can be used to automate certain tasks, improve decision making and enhance the customer experience.

AI in insurance can be defined as the incorporation of artificial intelligence tools and technologies into the insurance value chain to help improve processes and customer experience. AI adds value to the insurance industry through automation, cognitive computing, deep learning and big data analytics. 

How AI in insurance adds value to the sector?

Insurance companies are embracing and investing in new AI techniques that are supported by large volumes of data to build propositions or products that are nimble, robust and scalable with as close to zero manual intervention as possible. 

Insurers are improving customer experience by using AI to:

• Identify when a customer is unhappy and offer them a better deal.
• Understand exactly what the customer wants, so they can provide an improved service.
• Automate processes that don’t require human intervention. For example, if you have to ask your insurer dozens of questions every time you make a claim, it will take longer than necessary. By using AI-enabled technology (e.g., chatbots), this process becomes quicker and easier for both parties involved in the transaction.

• Improve decision making by using data analytics tools that help assess risk accurately
• To have access to more accurate data with AI. The quality and accuracy of data improve with machine learning algorithms which leads to better decision making by the insurer. A closer look at how AI can add value:

Benefits of AI in insurance

AI in insurance is a revolutionary technology that has the potential to impact the sector in a multitude of ways. It can:

Faster Claims Process

AI can be used to identify relevant information, speeding up the claims review process. It can help identify patterns in claims history and recommend optimum solutions. Insurance companies will benefit from better insights into customers’ behavior, thus making it easier to anticipate their future needs.The use of AI in insurance claims processing will increase over time as more data is processed. 

Fraud Detection & Prevention

Fraud detection is one of the most obvious benefits of AI for insurance companies. AI easily identifies suspicious activity when analyzing large amounts of data. Also, it is used to review policy applications for inconsistencies. In addition, with the use of machine learning algorithms, it is possible for an insurance company to detect patterns that indicate fraud or abuse by customers. AI also identifies inconsistencies in policy applications, claims history, and customer behavior.

Customer Service

AI helps customers find the right policies for their needs, and offer them more personalized service. Therefore, this means that you can offer 24/7 support without having an in-house employee on call at all times. Also, customers can have access to information about insurance policies anywhere anytime with AI in place. Using AI bots, you can help customers find the right policies for their needs. These bots can also provide helpful information about your services. 

Risk Assessment

The most important feature of AI is its ability to analyze data in order to identify patterns and make predictions. You can use AI to assess risk after taking into account all variables, which may allow you to offer more personalized prices, which will improve your reputation with customers and reduce pricing disputes with customers who feel they’re being treated unfairly by a standard fee structure.

Streamlined Daily Operations

AI can automate routine tasks, allowing employees to focus their attention on other areas of the business that might require human attention. AI can also help insurance providers extract insights from their data, giving them a better understanding of the industry and its customers. Finally, AI can lead to increased efficiency by helping optimize processes across all departments of an insurance provider’s business.

AI Use Cases in Insurance

As artificial intelligence grows more powerful every day, companies have begun to adopt AI technologies and machine learning in their efforts to improve customer experience. 

Here’s the list of few top companies who have held the hands of AI to maximize their growth potential:

Nauto: Predictive Analytics for Autonomous Vehicles

Nauto is a software platform that uses data to help cars drive themselves. Nauto’s software uses artificial intelligence and machine learning to analyze the collected data in order to predict an autonomous vehicle’s probability of crashing. The technology behind Nauto helps prevent vehicle crashes by evaluating a driver’s behavior and providing recommendations on how they can improve their driving habits.

Lemonade: Chatbots and AI-enabled Claims Process

Lemonade uses AI to help customers understand their insurance policies, file claims and get the best price. It has developed a chatbot that is available 24/7 via text message to help customers understand their insurance policies. The bot uses NLP (natural language processing) and AI to provide an interactive experience for users, who can ask questions about how different types of claims will be handled by Lemonade’s policyholder protection plan.

Anadolu Sigorta: Anti Fraud and Activity Detection

Anadolu Sigorta is a famous Turkish insurer platform that suffered high costs due to manual reviewal process of claims. But tables turned when they switched to AI predictive system. The system allowed the company to detect fraudulent activities and even fraudulent customers in real time. As a result, they realized a 210% ROI in just one year and attributed over $5.7 million in saved fraud detection. 

Tokio Marine: Automation of underwriting and reinsurance analysis

This Japanese insurance company, known as TMW Group, is one of the early adopters of AI in its industry. Tokio Marine recently made news by deploying an AI-based computer vision system for analyzing damaged vehicles. The system helped the company to shorten their processing time from 2-3 weeks to less. And as a result they have seen significant improvements in customer experience, efficiency and cost control. The company uses a combination of machine learning and natural language processing to automate claims process, underwriting and reinsurance analysis.

Make your insurance app AI Smart with Idea Usher

Insurance companies, it’s time to make your app AI smart!

There are so many ways to do this, but one of the easiest is with Idea Usher. We are known for helping insurance companies improve their user engagement and retention, and we’re excited to offer our services to help you get started on your AI journey.

We know that insurance is a complicated industry—but what if we told you that making your app AI smart doesn’t have to be? The Idea Usher platform lets you plug in existing data from your existing CRM system and start gathering insights into how customers interact with your app. We help you identify the areas where users are getting stuck (or are just plain bored), and then work with you to make those parts of the experience more fun and engaging for everyone. When we’re done, you’ll have an app that makes users feel like they’re actually interacting with a human being, not just another computer program!

For more information and a detailed understanding of the application development process, you can contact them at.

E-mail: contact@ideausher.com

Phone Numbers : (+91)9463407140, (+91)8591407140, and (+1)7329624560

Conclusion

AI is becoming a mainstream tool for insurance companies. More than half of them have deployed intelligent systems and chatbots to engage with their customers. 48% of insurers are using AI for fraud detection, and nearly 50% are using it for underwriting and claims processing. 

It also helps to improve fraud detection. Thus, this will ultimately help in the retention of customers. AI has a huge role to play in improving operational efficiency, which is an integral part of the insurance business.

As AI evolves, insurers can expect better ROI, increased renewal premiums, decreased costs, better engagement. All this through chatbots and voice assistants such as Amazon Alexa etc.

FAQs

Why is AI important for insurance?

AI has many benefits for insurance companies, including:

• Lower costs: AI can help reduce costs by eliminating errors, streamlining processes and automating manual tasks. It can also increase revenue by improving customer service.
• Increased productivity: AI enables insurers to automate manual tasks and improve customer service by providing 24/7 coverage.
• Improved customer experience: AI allows insurers to provide better customer experiences by analyzing data about customers’ preferences and habits.

How does AI affect insurers?

In the insurance industry, artificial intelligence applies in a variety of ways. For example, it’s helpful in identifying fraudulent claims or fraudulent claimants. It’s also being used by some insurers to predict which customers will most likely file claims.

What is the smart insurance app?

The Smart Insurance AI app is a tool to help you get better insurance rates. It uses algorithms and other data to predict your risk of getting into an accident. Thus, this gives you personalized recommendations on how to lower your premiums.

The post AI in Insurance: How data is impacting the sector? appeared first on Idea Usher.

They wanted to understand GoPuff’s business model and tried to recreate something similar. Do you want to do the same? If yes, this blog acts as a compendium of information regarding the app.

Understand how the firm raised a billion dollars of investment within seven years of establishment and still continues to do so. Thus, reaching the throne of the food and liquor delivery industry. 

What is GoPuff?

It is one of the best on-demand food and alcohol delivery services. It assists customers in ordering their favorite food from the provider at the time and location of their choice. Thus, delicious food can arrive right on your couch without making a hectic move toward the restaurants/cafes/hotels. This app made it easier for the customers to order and receive food on time.

A Brief History

• GoPuff was founded in 2013 by two exceptional brains, Yakir Gola and Rafael Ilishayev. Both were university grads at the time of the launch. Their initial plan was to do it as an on-demand hookah delivery service, but later it converted into delivering foods and grocery items. The founders used a Plymouth voyager to have the products in the beginning.
• The company became a unicorn company within five years of establishment.
• It added the first independent board member in April 2021.
• The company Purchased Fancy- a UK-based food delivery service, in May 2021.
• The platform and Uber Eats announced a partnership to sell items from their inventory via the Uber Eats app.
• A startup named Liquor Barn was acquired by the company in June 2021.

Have a look at various rounds of funding raised by the Company

GoPuff Business Model Explained

Here’s a quick rundown through the business model of the app: 

• It might seem a difficult model to execute but it has turned into a reality. The platform has micro fulfillment centers in many locations inside a particular city. It helps the company to complete an order within 30 minutes. This unique model is the basic reason why the app is so fast. 
• Customers can order their favorite food by checking the available products in the inventory. Thus, there is no need to search for a particular restaurant to get their desired food. This model provides every facility to the customer on a platter. 
• The price of the food product listed on the app constitutes the total profit and a small delivery charge is fixed for every order. 

Inventory-Based model

This company has a different business model than the competitors. Rather than contacting the food providers after the order gets placed, the venture follows an inventory-based model. It directly purchases goods from various manufacturers across the states and stores them in its warehouse. 

Importance of Inventory Control

Let us see the impact of an independent inventory control over a food delivery company.

• Owning the inventory helps scaling the profit margins on product category sales. They can easily reduce the cost price for a particular category.
• No need to charge extra fees on the products to earn profit.
• Gives an ability to quickly update and localize the assortments.

Effects of Micro Fulfillment Centers

Setting up multiple centers in the same city consumes a large amount of investment. Then how can they help the platform maximize their revenue? Go through the below points to know-

• It speeds up the delivery time and offers better employee experience.
• Enables the addition of new verticals. For example- GoPuff Kitchen is a new setup that brings made-to-order fresh food.
• These centers strengthen the economics of the business.

Below are the different components of the GoPuff Business Model:

You May Also Like- 15 Essential Features of Food Delivery App

Advantages of GoPuff Business Model

The entrepreneurs willing to launch a product similar to this app must be aware of the advantages associated with this business. Here are the key points:

1.  Good idea of availability

The company has a good idea of the availability of the stock because of the inventory model. It helps them to fulfill the requirements way before the customer demands and prevents a shortage of materials similar to the other model followed by the competitors.

2.  No middleman for the product delivery

They have their own staff for picking up the order from the centers and delivering it to the customer. There is no middleman to pick grocery from the supermarket or dishes from the restaurants.

3. Independent in terms of warehouse usage

The company is independent in terms of warehouse usage. Thus, it can open its own warehouses 24/7 which maximizes the revenue.

Challenges Of the GoPuff Business Model

Every coin has two faces. Similarly, this awesome looking inventory model has a few challenges that the responsible individuals need to tackle for the proper functioning of the firm. Here are a few of them:

• A large investment must get dedicated to the warehouse space every time the app opens at a new place. Thus, it is not easy to expand from one city to another.
• A special license is required for selling products like liquor. Plus, storing alcoholic beverages demands a high commission.
• Food quality must be excellent to increase the rate of return customers.
• Inadequate food handling by the delivery persons can result in loss of return customers. Issues like hygiene and safe order delivery are needed to be solved to maximize the company’s customer base.
• The customer’s perspective keeps on changing when it comes to food delivery apps. Thus, there is a need to add the best value to their customers so that they can permanently stick to their service.
• Fluctuating market prices are no big deal in the food and grocery market. Therefore, it becomes complex for the management to make constant amendments based on the price shift.

 Four Ways GoPuff Earns Money

Every business enthusiast reading this blog must be eager to know how GoPuff makes money. The revenue model of app has four essential ingredients that helped it become a unicorn within a few years of launch. 

Have a look at four of them:

1.Marking up the Products

• Product markup is the first revenue stream of the company. Unlike the other on-demand food delivery services that complete their orders by delivering products directly from the restaurants, the company purchases the products directly and stores them in their warehouse. 
• Later, the order gets completed by the company itself. Thus, they can minimize the production cost of cooked food. Along with that, the difference between the buying and selling price of the grocery along with the warehouse cost adds to the profit. 
• The only complexity is at the core of the management. But, the management team has done an incredible job in tracking the warehouse availability from time to time.

2.Delivery Tax 

• This is the most common revenue stream by any on-demand supply company. In many companies, delivery fees vary depending on the location of the customer from the target center. But, the app has a fixed delivery tax. 
• That’s right! The delivery cost is constant at $1.95. However, there is an extra raise up to $2 for orders containing alcoholic beverages. 
• The extra is because of the commission paid in keeping a mass quantity of alcoholic beverages in their warehouse. Plus, the cost of a special license for liquor made it obvious to increase at least $0.5 bucks.

3.Membership Scheme

• A membership program known as GoPuff fam offers benefits such as free delivery on all orders and other member-only discounts. The cost to enroll in this program is $5.95. This is a significant revenue stream targeting permanent customers. 
• It motivates them to subscribe to the membership scheme and enjoys all the above-mentioned benefits of using the app. It also helps in increasing brand popularity as more membership users convey their thoughts to other people. 
• A chain of membership investment generates helping the company enhance its profit.

4.Advertisements 

• This revenue stream unlocks after a company establishes itself as a king in the market. Being the best in the business, it attracts a lot of potential startups to expand their sales by providing products to them. 
• The company offers priority placements on its on-demand food delivery portal. A report delivered by Forbes stated that the app earned $600,000 by priority placements of an ice-cream startup named Nightfood.

You may also like- 10 Best Nutrition Tracking Apps:Pros and Cons

4 Ways That Helped GoPuff Grow Rapidly

Every business revolves around certain principles. These principles help the businesses grow faster. There are 4 Cs to know if you are planning to create a food delivery app.

Read the four important aspects every food business must follow:

1. Experience- Apps that offer excellent customer experience outsmart the competitors.
2. Engagement- Users engage effectively if they find value in your solution.
3. Satisfaction- Every business needs happy customers to assure success. The food industry is not an exception.
4. Retention- Retain your customers, and try to turn them into your brand ambassadors. Food businesses are rapidly increasing. Thus, there is a scarcity of brand loyalty.

Want to Build a Clone of GoPuff? Idea Usher Will Do the Job For You

It requires absolute perfection to create something like GoPuff. At Idea Usher, we are inspired to help you develop the app of your dreams. All you need to do is to submit your application idea along with the necessary requirements. 

We cater services like design, development, marketing and every possible thing one business needs to grow effectively. Our motto is to make every website, software, and application remarkable. Our experienced team of developers have successfully delivered solutions to 5000+clients. 

It is guaranteed that a clone version of this app is not something massive for our developers to accomplish. So, reach our portal as soon as you get done with this blog to know more about us.

For more information and a detailed understanding of the application development process, you can contact them at.

E-mail: contact@ideausher.com

Phone Numbers : (+91)9463407140, (+91)8591407140, and (+1)7329624560

Final Words

In conclusion, it can be said that the on-demand food delivery industry has a bright future. It will keep on generating revenue even in the worst downfalls such as covid-19 pandemic. Many people hate to walk or drive miles away to purchase food, grocery or liquor.  Apps like these are making the lives of such people easy and comfortable. 

Creating something like this app is not a one-day deal. It consumes a lot of time, investment, and developer’s mind. Therefore, it is better to take advantage of some firms to get the maximum quality. 

You can contact us if you have an idea already that focuses on inventory based models. You can utilize that time in creating further strategies to boost it up to the public.

FAQs

Where does the food come from?

The company has warehouses in 4000+ locations across the United States. Once the order gets placed, the delivery partner picks up the food product directly from the warehouse.

How many employees work for the company?

An estimated figure shows that 10,000 employees are working for Go.

Is this marketing strategy unique?

Yes, the idea of using an inventory-based model for an on-demand food delivery service is unique. Plus, their are multiple criteria for revenue generation which makes it the best grocery/food delivery company in the USA.

Name some top investors of the company

Top investors of this company include Blackstone, Fidelity, SoftBank, and Adage Capital.

How does they deliver so fast?

Excellent management of warehouse facilities along with the establishment of multiple order centers helps complete the delivery in a maximum of thirty minutes.

The post What is GoPuff? Know More About the App appeared first on Idea Usher.

Even supported by Google and Microsoft, the technology delivers impeccable performance giving users a richer and more immersive experience. As these big tech giants lay groundwork for PWA development, it is now a must-have technology for both large and small corporations.

So, if you want to maximize your online presence like Twitter, Starbucks, and AliExpress, read through to know how to create progressive web app using React. 

Let’s get started with this comprehensive guide!

What is a Progressive Web Application?

A progressive web application (PWA) is a type of web-based application software built with common web technologies such as HTML, CSS, and JavaScript. It is designed to run on any platform that supports standards-compliant browsers. 

• A Progressive Web Application (PWA) is a website that has the look and feel of a native mobile application. 
• It is available for download and installation on mobile devices. 
• It can be launched outside of the browser and works without an internet connection. 
• Working offline, push notifications, and device hardware access are all features that enable the creation of user experiences similar to native applications on desktop and mobile devices. 

Why build a PWA?

It’s 2022, the era of technology, we have applications for everything and anything. The mobile application industry is at its peak in the present time with so many tools and technologies to develop an app in a few clicks. There are numerous advantages of using these apps but the one that matters the most is cost-effectiveness. 

Here are some reasons why you should consider building a PWA:

• Progressive Web Apps are fast, reliable, and engaging like native mobile apps but they don’t feel like you’re using a website
• Being responsive they work across all devices, while native apps need separate development phases for separate device support
• PWAs can work offline as well (if configured). They use service workers that act as proxy servers between web applications and browser caching for storing files on local browser storage
• Progressive Web Applications are linkable which means deep linking becomes possible just through URLs unlike traditional native applications.
• By building a PWA, you can improve your user engagement, save on development costs, and increase your business bottom line. 
• Progressive web apps are responsive and can fit the size of any device. The website will respond based on the device used by the user.

Checkout these differences between PWA and Native apps to understand which is better:

Is React a good option for PWAs development?

PWAs are made using web technologies (HTML, CSS, JavaScript) and can be built with any JavaScript library or framework such as Vue.js or React.js. React is a JavaScript library known for developing intuitive, flexible and highly efficient user interfaces. React makes it effortless to build highly interactive and user-friendly user interfaces. Create simple views for each state of your application, and React will update and render only the necessary components when your data changes.

Why React?

React aids in the creation of a rich user interface for web applications. It enables developers to create large web applications that use data that changes over time without having to reload the page. This speeds up the development process while delivering amazing performance with amazing UX (User Experience).

Basics of PWA development

Now that we have accumulated what PWAs are, let’s quickly dive into the basics of PWA development. 

To begin with we here’s the dropdown off web technologies that pave the way for fueling the progressive web applications:

• Service workers
• Web manifests
• Application shell
• HTTPS

What is a service worker?

A service worker is a script that your browser runs in the background, independent of a web page, allowing you to access features that don’t require a web page or user interaction. In other words, service worker lays the technical foundation of PWA development.

This script handles requests from the pages in your app, and can also intercept network requests and modify responses, cache files and update the page as needed. The service worker acts as an intermediary between pages in your application and the network. This means that it is possible to serve content even when offline, or speed up loading by using data cached during previous visits.

What do you mean by web application manifest?

By web app manifest, we refer to a JSON file that includes the complete definition of PWA interface. You must create a JSON configuration file to tell the browser how your web app will behave when installed on the user’s mobile/desktop device. The name, description, styling, and list of required resources are all included in web app manifests. PWAs, as opposed to regular web applications that are simply bookmarks, can use regular Web APIs and be installed on a device’s home screen.

What is an application shell?

The PWAs have been architected around an application shell. The shell contains all the local resources required by the web app while loading the skeleton of the user interface to make it work offline along with the content using JavaScript. However, it is not mandatory to use the application shell, but helps in enhancing the performance gains when cached and served correctly. The architecture overall results in connectivity resilience and makes the PWA more like a native app to the user. 

What is HTTPS and why is it used?

HTTPS is the acronym for Hypertext Transfer Protocol Secure. It refers to an internet communication protocol which offers protection to the data integrity and confidentiality transmitted between the user’s computer and the application.

A progress web application should be served over HTTPS inorder to keep the environment and transmission of data safe and secure.

How to create a PWA with Create-React-App?

Checkout the steps to follow for PWA development with Create-React-App:

Step 1: Setup a simple app from scratch or use create-react-app

So, let’s get started by using the create-react-app tool. This tool allows you to start off with a simple React application without having to worry about setting up webpack and Babel yourself. To use it, first make sure you have Node installed on your machine. 

Then simply type in the following command:

→npm i create-react-app-g

To create a TypeScript React app through create-react-app, type the npx command stated below:

→npx create-react-app pwa-react-typescript –template typescript

These steps will  create a React web app built for you with TypeScript, that can be tested locally with:

→cd pwa-react-typescript

→yarn start

Another method to create a React app is with:

→create-react-app react-pwa

The below given image shows you the files that will be built in the react-app folder.

Register the Service worker

To develop a progressive web app that runs in the offline mode as well, configure the auto-generated service worker file. In the directory of the newly created app, you will find the index.js file. On opening the file, you will come across the unregistered service worker which you should change to register() call.

Step 2: Configure Web App Manifest

As explained above, the manifest.json present in the public folder includes the metadata. This means it contains all the information controlling how the app occurs to the user explaining its interface. The manifest.json is highly imperative and required by Chrome.

Here’s a rundown through the meaning of main manifest attributes:

• short_name: It refers to the name of the application which is used within the icon.

• name: This attribute is used for giving the name to an app that shows in the app stores or startup screens or browsers. In case the name property gets skipped, short_name is displayed. 
• icons: All the icons used on the home screens, task switchers, launchers and splash screens fall under this category.
• start_url: It is the URL to the first page of the app that users see on opening the app.
• display: The attribute responsible for determining the browser view. 
• standalone: The property allows the user to run the app in the new window, just like a native app. It will also conceal browser UI elements such as the address bar.
• minimal-ui: This property is similar to the previous one, but it has a more limited set of browser UI, such as back and reload buttons.
• browser: For enabling the usual browser experience.
• theme_color: To give color to the toolbar in the app.
• background_color: Determines the color of splash screen which appears on clicking the app icon on home screens.​

To finally run the your web manifest file, you must add it to the pages of your web application, using:

<link rel="manifest" href="/manifest.json">

Also, to validate that the configurations are fine, check the Manifest Menu under the Application Pane Chrome DevTools.

The serviceWorker.js will then register the service worker file. This results in generating the file with CRA when the app is built.

→npm run build

Here’s the quick rundown through the components of the file:

• The command effectively builds the project and stores it in the build folder.
• The static folder holds all the js and CSS files.
• Being the main page, the index.html loads all of the React files in the static/js folder as well as the CSS in the static/CSS folder.
• All service worker code is stored in the service-worker.js file.
• The pre-cache-manifest.*.js file holds all of the files that the service worker caches in an array.
• To ensure that everything goes as planned, you must open the build folder in the browser, but first you must install a browser. Setup the http-server
• The next step is to include start in the package.json’s scripts section.

Step 3: Test your application in production mode and check if it is working as you expect

Type the given below commands to run the PWA in the production mode:

→npm run build

→npx server build

Once you complete developing your PWA, testing the application should be next on your list. There is a complete checklist on PWA provided by Google listing several tools to test the PWA. One such example is Lighthouse which is an impeccable tool located under the Namely tab of Chrome Devtools. 

The easiest way to test the app is on your local machine. You should also test the app on a device with a slow internet connection, as well as different browsers, just in case something doesn’t work as expected.

Step 4: If everything works fine, publish your app 

Now you can publish your React PWA and share its URL with the world.There are a lot of benefits to publishing your app online; for example, you can get more traffic and reach more people worldwide. 

Build your Progressive Web Application with Idea Usher

The idea of designing progressive web applications can be intimidating, not to say it costs a lot. However, you can create a simple one without spending a lot of money. Idea Usher specialists in creating different web projects will help you to do this and provide the best quality. We have a lot of experience in developing web-based solutions that comply with modern design trends, so we are confident they will meet your needs.

At Idea Usher, we pride ourselves on having an expert team of front-end and back-end developers who can handle everything from simple websites to complex web applications. Also, we offer a wide range of services so that you get the most out of your investment and can focus on growing your business.

For more information and a detailed understanding of the progressive web application development process, you can contact them at.

E-mail: contact@ideausher.com

Phone Numbers : (+91)9463407140, (+91)8591407140, and (+1)7329624560

Final Thoughts

Progressive web apps are still quite new to the world, but that does not mean that there aren’t a lot of possibilities for the future. It remains to be seen where the technology will progress next, and what additional features will be added. 

However, whenever you start building a PWA for your business, focus on making them intuitive through design and development. As a result, you will see remarkable results in terms of increased customer satisfaction and value. 

FAQS

Q. What are the requirements for PWA?

A. Here’s the quick rundown through the list of requirements for PWA development:

• A web manifest with all the correct fields filled in. 
• A website served from a protected (HTTPS) domain. 
• An icon representing the application on the device. 
• A registered service worker registered that allows the app to function offline.

Q. How to create a PWA from an existing React app?

A. For building a progressive web application from an already existing React app, here’s some simple steps to follow:

• Being with creating and installing a service worker that helps in enabling offline functionality. 
• Then, create a manifest file to define the appearance of the app.
• Last, test the app.

Q. What makes a good PWA?

A. Every Progressive Web App that tends to deliver enhanced functionalities and features with full reliability is considered to be a good PWA. Also, good PWAs can be installed anywhere, on any device reaching anyone, with a single codebase.

The post How to create Progressive Web App with React? appeared first on Idea Usher.

The Economic Times report of 2021 revealed that this startup company raised $60 million investment. With more than 10 million users and 3 billion page views per month, the  valuation of the app accounted for $550 million as of 2021.

As the numbers speak volumes for themselves how fruitful it can be to own a short news app. But how to develop an app like InShorts?

Resting your curiosity, through this piece of writing we will delve into features and the development process that should be taken into account for short news app development similar to Inshorts.

What is InShorts app?

Founded in 2013, the InShorts app started out as a way for college students to keep up with developments in their industry. It eventually became the one-stop destination for all the news needs. Inshorts is an app that gives you news in a bite-sized, easy-to-read, digestible format. The app pulls out the essence of each article and merges them with other like-minded articles to create an engaging experience for different types of users.

The app brings the news in condensed format at regular intervals so as to be more accessible to people with busy schedules or little interest in reading long articles.

It’s perfect for someone who wants to stay up to date on the latest current events and developments, but doesn’t have a lot of time to read through long articles or watch news segments and journalistic shows.

Why do people love the InShorts app?

With a simple user interface and free availability, Inshorts quickly grew into an app that provides business updates, political news, sports coverage, and more—all in 60 words or less.  

Here are some of the great features that helped the app take the online news industry by storm:

1. 60 words news

The app provides you with 60 word news from multiple national and international newspapers. This helps you to stay updated with the latest happenings and developments in just a few minutes. Also, these short bits of news help you save time which can be used in other productive things.

2. Multiple categories

With just one tap on your smartphone, you can access multiple categories like national, international, politics, sports, technology, entertainment, business and much more. The app also allows you to read regional news in your preferred language like Hindi and Bengali.

3. Offline access

With the offline access feature of the app, you can read the saved stories without internet connection anytime, anywhere. Simply tap on the download button beside any story and it will be available to read when you are offline or have a slow internet connection.

4. Share stories

The app also allows you to share any story with your friends instantly on WhatsApp or other social networking sites like Twitter, Facebook and more. 

5. Personalized feed

We know that different people are interested in different things, so we make sure to give you the option to customize your feed. You can choose which categories of news you want to see more or less of, so you can focus on the updates that are most important to you.

6. Local language

The app offers the news in almost eight local languages making it a very popular platform among users of diversity. Since the app is trying to cater to the local language barriers in the Indian internet landscape, it has become the fastest growing news app in the market.

Features to be integrated while developing the news app like Inshorts

Below are the top features that should be in your app if you want to create a news app like Inshorts.

1. User registration/login

The first feature of any news app is its user registration and login feature. It allows users to register themselves with their credentials and view the news articles according to their interests. The user may choose any username and password or can even register with their social media accounts, such as Facebook, Twitter, and LinkedIn.

2. Push notifications for Real-time updates

Push notifications play an important role in delivering real-time updates to users about breaking news, new articles, trending events, etc. The users may also choose the type of notifications they want to receive on the basis of their specific interests. Push notifications allow you to send relevant updates to your users. A strong push notification strategy can drastically improve user engagement and retention.

3. Share articles on social media platforms

To make it easier for users to share the news articles on social media platforms such as Facebook, Twitter, WhatsApp and so on, it is a highly imperative feature to be integrated.

4. News feed

A news feed is an essential feature for any news app. Your users will be able to see all the latest news on their homepage while they’re logged in. You should enable swipe gestures so that your users can easily navigate through multiple stories.

5. Search

A search feature allows your users to look for specific topics or articles, saving them time and frustration if they’re looking for something specific. You should also enable voice search so that your users can verbally express their search query. This will make it easier for them to find what they’re looking for without having to type in a long phrase or sentence

6. Bookmarking

Bookmarking lets your users save articles they might want to read later or refer back to later on. They can access these bookmarked articles from their personal profile page, making it easy for them to pick up where they left off or find information when they need

How to develop a short news app like Inshorts?

There are already a lot of news apps in the market. Some of them are better than Inshorts, while others lag behind. But with so many news apps out there, how do you make your own stand out?

Check out this quick little roadmap of how you can develop your short news app like InShorts:

1. Planning stage

To begin with, you must start with figuring out exactly what your app is going to do. You’ll need a plan that details all the requirements for the app. Go into as much detail as possible now, so that during the next phase you can make sure you’ve got everything you need set up to start building your app.

2. Requirement analysis

The requirements gathering process involves figuring out the ins and outs of your product: not just its functionality, but also how it will be designed, how data will be inputted and stored, and how users will interact with it in order to achieve their goals. The goal of this phase is to identify what features must be included in order to meet users’ needs and expectations. This stage includes interviews with stakeholders and end users, as well as market research. 

This is also when we decide on the best technology stack for your product. You and your team need to gather the requirements, analyze them properly to get the correct insights regarding the project. Manage them effectively and trace them during the entire software development life cycle.

3. Design stage

Now that you know what you want, it’s time to design it. This includes design aspects like UX/UI and architecture design—everything that makes the user experience better and more functional. Thus, design stage is the first step in creating an app, and a good design will help you attract and retain users. Designing an efficient user interface (UI) can be achieved through wireframing, which helps to create the structure of your app.

In this phase you create mockups for all screens in the app. The goal of this stage is to produce a high-fidelity prototype that you can test with real users..

After creating wireframes for all screens in your app, you should create an interactive prototype. It lets you test out your product flow and see how different pages link together. 

4. Development

This is where all the magic happens! The developers take all of those designs and turn them into code that will actually work on your devices of choice (iOS/Android). But first we need to create a technical specification document (TDD) which will outline every feature in detail so developers know exactly what they need to build. 

There are four parts to every app: backend, frontend, mobile app, and web. You can develop these components by yourself or use a team of skilled developers. 

5. Testing

Testing is a process of executing a program or application with the intent of finding the software bugs. It can also be stated as the process of validating and verifying that a piece of software or hardware. It is to check if they meet the business and technical requirements that guided its design and development.

This is done by testing different modules, which work together in an integrated fashion but independently, in terms of functionality. Testing is carried out to detect and identify defects in software so that they are rectified before delivery to customers.

6. Deployment

Deployment is the process of moving an app from the development environment to the production environment. It takes place after development and testing. Because before an app is deployed it must be tested for potential errors or security vulnerabilities. 

It’s important to note that deployment is not just a one-time thing; it’s part of a continuous cycle. Any time you want to add new features or fix bugs, you’ll need to go through this process again and update your application so it reflects all recent changes.

It can be done manually or automatically depending on how much control you want over what gets deployed where (and when).

7. Maintenance

A well-maintained and high-performing app is an essential part of any successful online venture. There are many elements to ensuring that quality, including fixing bugs, adding new features, updating existing features, adding new content, updating existing content, scaling up your servers to handle the load of more users and data, maintaining security so that people’s data isn’t compromised or publicly visible, improving performance through load testing and optimization of code, monitoring the app’s usage and uptime/downtime, providing customer support to users who experience difficulties or have questions.

Get your own short news app developed by Idea Usher

In the last decade, we have observed the rise of various news apps designed to meet the needs of their users. Some of these apps have come and gone, while others, such as InShorts, have stood the test of time.

If you’re one of those people who has always wanted to develop a news app like that of InShorts, you are in luck! Idea Usher is a platform for anyone to develop their own short news app with minimal effort in a reasonable amount of time. We have a talented team, who works with an objective in mind – build what you have never built. We work with the latest tools, technologies and techniques to build world-class mobile apps. 

For more information and a detailed understanding of the short news app development process, you can contact at.

E-mail: contact@ideausher.com

Phone Numbers : (+91)9463407140, (+91)8591407140, and (+1)7329624560

Final words

News media has been transformed by the advent of digital media, and connection to the internet has transformed the way people consume news. Said that, this inclination is leading to a bombardment of news apps in the market. News apps comamong the most downloaded types of apps out there—Inshorts alone has been downloaded over 5 million times on Android alone!

Thus, seeing how news apps are one of the most lucrative applications to develop. Therefore, the news app development is a great idea for businesses who want to cater to their audience with up-to-date information that interests them. 

However, there are many news apps out there, but only a few have the ability to keep you up to date with the latest news stories. If you’re pondering over the news app development process and want to get streamlined, hire the right developers today!

FAQS

Q. How long does it take to build a short news app?

A. Depending on the app functionality, design, platform integration, technology stack, and features, the average time taken can vary from 3 to 6 months. However, if you want to get the app developed fast and in an economical way, contact Idea Usher. 

Q. What factors determine the cost of short news app development?

A. The cost of short news app development will vary from company to company depending on several factors. However the common factors that will give you an estimated amount of development include:

• App features
• App functionality
• Turnover time
• Resources and tools induced
• App platform

Q. How to monetize an app like InShorts?

A. The app makes money by displaying advertisements on its platform. Also, it charges users for premium features such as unlimited access to all content. Users can also sell in-app subscription upgrades, allowing users to upgrade their subscription plan at any time.

The post How to develop a short news app like InShorts? appeared first on Idea Usher.

Football fans everywhere are clamoring to play, and it’s no wonder why: it combines the thrill of competition with the heady rush of trying to predict what will happen next.

Gone are the days of using paper rosters to keep track of games and sports scores. Fantasy sports apps have changed the way you can play fantasy football, adding ease and excitement while keeping fans of the game more connected than ever. The next time you’re looking for such apps, try these seven most popular options.

About Fantasy Football

Well, it’s one of the biggest things that’s ever happened in the history of football. It’s also one of the best things that’s ever happened to sports. In fantasy football, you get to be your own coach (or GM—general manager). With fantasy football, you can assemble your own team of real-life NFL players. You hand pick them based on how they perform in real life. Fantasy football is a game that takes place alongside the NFL season. During the season, players (usually friends or family) create teams of real-life NFL players and then compete against each other to see whose team has more points at the end of each week.

What is Fantasy Football App?

Fantasy football is a popular game where participants act as team managers, selecting real-life football players from various teams to form their own virtual team. The players in the fantasy teams earn points based on their real-life performances in actual football matches.

Top 7 features to look in Fantasy football App

When looking for a Fantasy Football App, there are several key features that can significantly enhance your experience as a fantasy football player. Here are the top 7 features to consider:

User-Friendly Interface

An intuitive and user-friendly interface is essential for any Fantasy Football App. Look for an app that provides easy navigation, clear layout, and a well-organized dashboard. A user-friendly interface ensures that you can quickly access all the important features without any confusion.

Player Statistics and Data

The core of any fantasy football experience lies in player statistics and data. The app should provide comprehensive player profiles with detailed stats such as points scored, assists, goals, clean sheets, etc. This information helps you make informed decisions when selecting your fantasy team or making transfers.

Real-Time Updates

Timely updates are crucial in fantasy football as player injuries, form changes, and other developments can significantly impact your team’s performance. Look for an app that provides real-time updates on player news, injuries, and match results. This feature ensures you stay informed and can make necessary changes to your team promptly.

Customizable Scoring System

Different fantasy leagues may have unique scoring systems based on their preferences. The app should allow you to customize the scoring system to match the rules of your specific league. This flexibility ensures a fair and engaging fantasy football experience for all participants.

Transfer Management

Managing player transfers is a vital aspect of fantasy football. The app should offer easy and efficient transfer management, allowing you to buy, sell, and swap players seamlessly. Look for features like transfer limits, wildcard options, and transfer deadline reminders to keep you in control of your team.

Private and Public Leagues

A great fantasy football app should support both private leagues (for friends, family, or co-workers) and public leagues (where you can compete with fantasy football enthusiasts worldwide). The option to join or create private leagues enhances the social aspect of the game, while public leagues offer a broader competitive experience.

Gamification and Rewards

Gamification elements like badges, achievements, and weekly or season-long rewards can make the fantasy football experience more enjoyable and competitive. Look for an app that incorporates these features to add an extra layer of excitement and motivation for active participation.

Top Fantasy Football Apps for Football Lovers

Whether you’re looking for an app that helps you set your lineup in the most strategic way possible or an app that can help you research the best draft picks, we’ve got you covered.

Here are some of the best fantasy sports apps for the 2022 season:

1. ESPN App

The ESPN app is available for both Android and Apple users. The mobile app has all the functionality of the website with a few more extra features. In addition to setting up your league, managing your team and making trades, the ESPN App provides a great user experience for checking standings and live scoring. 

It also includes access to real-time fantasy football stats from NFL players and teams (live rosters) as well as video clips, podcasts and news articles.

2. NFL Fantasy Football

Using NFL Fantasy Football is a great way to familiarize yourself with the basics of fantasy football. It’s also great if you like to stay up-to-date on player injuries and team lineups.

NFL Game Pass – this app provides live streaming sports games on your TV when you have access to a cable provider account or a satellite system like DirectTV or Dish Network. You’ll also be able to watch out-of-market NFL games using this service. It is well worth app it if you’re a diehard sports fan looking to catch up on all the action 

3. CBS Fantasy Sports

CBS Fantasy Sports is one of the most downloaded apps in the fantasy sports app space. Since its launch in 2013, CBS Fantasy Sports has emerged as an industry leader and trusted name in fantasy sports. The app offers up-to-the-minute team news and expert analysis, plus daily mock drafts to help users prepare for their real drafts. The users can effortlessly manage, track and get the best advice related to the game at one place. 

The app is available for iOS and Android devices, as well as Apple Watch.

4. DraftKings Fantasy Football

DraftKings has created a web application that is completely free to use. Signing up for the app is simple: just download it from the App Store or Google Play Store and then log in with the same credentials you used for your fantasy league website.

The interface of DraftKings Fantasy Football looks like an actual football field, which makes it easy to navigate and understand at a glance. Players are represented by their team colors (home team on offense) and positions; offenses are separated into offensive line/quarterback/running back/tight end categories while defenses can be divided further based on defensive linemen/linebackers/defensive backs schemes used during games played over last season.

5. DraftPunk App

DraftPunk is a mobile app that helps fantasy football players prepare for their draft, create sleepers, and rank players. It’s the most advanced football app fantasy that allows users to draft a companion tool, form a cheatsheet, and mock draft simulator!

The app allows you to sort the players by value rather than default score rankings or replacement. You can also compare any player across any category against other positions to make sure they’re performing at an appropriate level before drafting them into your team. The app has an array of exceptional features making it part of this list. 

6. numberFire Fantasy Sports

NumberFire Fantasy Sports is another mobile app that provides in-depth fantasy football analysis. It’s owned by FanDuel, which means it uses the same scoring system as their Daily Fantasy games. The app gives you access to rankings and projections, draft guides, and tools to help you prepare for your upcoming fantasy football drafts.

The numberFire Fantasy Sports free mobile app allows you to create leagues with up to 12 teams and host them on their platform. You can also use numberFire Fantasy Sports to join private leagues or public ones hosted by other users in the community.

7. Fantasy Football Draft Wizard

Fantasy Football Draft Wizard is an app that helps you prepare for your fantasy football draft by using mock drafts, calculators, and cheat sheets to analyze and optimize your lineup. The mock drafts let you simulate a full draft so you can see what players other people are choosing. 

The app will then give you the overall grades of your team compared to other teams in the mock draft. You can also use the app to create customized rankings based on player stats like average points per game or current injury status. In addition, it provides advice on who to pick next when making a live draft.

Finally, it has an AI coach called “Draft Dominator” which gives personalized recommendations based on your league settings and current picks as well as offers sleepers (players who are underrated but have good potential).

Future Of Fantasy Football Apps

Fantasy sports apps have seen exponential growth in development since 2019. This means more apps are being built and released every year than ever before. In 2019 alone, over 1 million new fantasy apps were created by developers around the world. That’s a staggering increase from just 100,000 in 2015! This is because in recent years, apps have changed the way people play fantasy football. It is now easier than ever before to manage your team and track your progress in real-time on any device.

Fantasy football is a game that has evolved over the years from being a simple game of picking your team of favorite players to becoming an industry that involves big data, statistics and even artificial intelligence. This evolution has made fantasy football fans rely on apps to help them make intelligent decisions. 

A report published by Technvaio revealed that the market size of global fantasy sports will increase by approximately USD 6.11 billion between 2021 and 2026. Also, it added that the CAGR will expand by 6.51% during the forecast period. Thus, words noted, it seems high time to invest in fantasy sports app development if you are a football fanatic. 

Read also: Fantasy Football App Development Like NFL, ESPN | App Cost & Features

Do You Want To Own A Fantasy Football App?- Connect With Idea Usher

So if you are a fantasy football fanatic? An avid sports fan? Or just someone who is looking for a new side hustle? Look no further: with Idea Usher, you can build and develop your own football app.

We’ve seen all the hype around fantasy sports apps—and we’re ready to help you cash in on it. When you work with Idea Usher, we’ll support you each step of the way as you create and market your app.

We’ll set you up with a developer and a designer so that your app looks great and runs smoothly, and we’ll also provide ongoing marketing guidance to help build awareness. With our help, you could be well on your way to becoming the next big name in fantasy sports apps. Let us know if you’re interested today!

For more information and a detailed understanding of the fantasy football app development process, you can contact at.

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Final Words

Fantasy football is estimated to be a multi-billion dollar industry, with over 40 million people participating each year. With that many people playing, there are bound to be plenty of players who would love to have an app that helped them make decisions about who to draft or what free-agent players they should pick up.

There are also plenty of great resources available on the internet for getting started with your own fantasy football app development. Thus, connect with the right developers to get the best app on the table. 

FAQS

Q. What are the basic features of fantasy sports apps?

A. There are several features in the app. Let’s take a look at some common features that have to be in the app:

• Allow the user to the player roster for the week and make changes
• League management and set up games with friends
• Users get real-time stats about how individual players are doing in their games
• Users can chat with other fantasy football players in your league and across the country
• Connection with friends on social media and keep track of their activities
• Find out which players are free agents and add them to team

Q. How much time does it take to develop fantasy football apps?

A. There are a lot of factors that affect the answer to that question. How much time it takes to build a fantasy sports app largely depends on what you’re looking for in your app, how often you want changes made, and how much you’re able to do yourself. However, the average time that it takes ranges from 3-6 months. 

Q. How do you monetize your fantasy sports apps?

A. When it comes to monetizing apps, there are several different paths to take:

1. Subscriptions/paid app: This is one of the simplest routes that also has a downside—if no one wants to pay you for your app, you’ll have no income stream.

2. Advertising: One of the key strategies here is making sure that you’re getting paid per impression and not per click.

3. In-app purchases: This can work really well if your app has tiered levels or extra features that users can opt into buying.

4. Sell through other platforms: An example of this is selling your app in the Apple store, which allows them to take a percentage of sales as payment for hosting it on their platform.

The post 7 Best Fantasy Football Apps in 2025 appeared first on Idea Usher.

To make you aware, let’s walk through the social media shopping statistics and strategies that will help you leverage your profits and remain ahead in this cutting edge competition by investing in social shopping app development!

Why Social Commerce Now?

Did you know that people spend more than twice as much time on social media as they do email?

In fact, it’s estimated that by 2022, the average person will spend about four hours a day on social media.

If you’re looking for ways to connect with customers and drive sales, social media should be your go-to. But growing your brand on social media isn’t all about posting cute pictures and gifs—there are real numbers behind social commerce. 

Here are a few statistics that are worth taking into consideration:

• Over the past few years, Social commerce has grown dramatically.  Some sources say that 80% of social media users there have made a purchase through a social media platform. That’s huge! And even in the United States, where we’re not quite as gung-ho about social shopping, we’ve still got 40% of us buying products through social platforms.
• 30% of people are likely to make purchases from social media platforms, revealed a survey conducted by BigCommerce. 
• 72% of shoppers use social media platforms to research products before making a purchase, a stat gathered by Influencermarketinghub.
• 91% of people say they access Facebook at least once a day, though many people access their accounts multiple times per day.
• A report by Instagram states that 60% of people attested to discover new products on this platform.
• A 2021 Statista report stated that 30% of eCommerce companies are already making profit by selling on social media. And 12% more are planning on making social media platforms the selling channels in coming years.

These numbers say enough of how social media shopping apps are going to be the next big thing in eCommerce. Thus, these statistics are a foolproof indication of how social shopping app development will turn the tables for several eCommerce companies. 

How Social Media Shopping Is Different From eCommerce?

Here’s quick rundown through the key differences between social media shopping and eCommerce:

Why do you need to get a Social Shopping App developed?

Social media shopping statistics show that 30% of customers confessed that they would buy goods directly from social media platforms. Additionally, a 2021 report by Statista states that the number of the US online shoppers is predicted to grow to 108 million by 2025, which was 79 million in 2020. That’s not a small number, indicating support from the customer base. 

In fact, according to recent figures from social media shopping appp statistics, social media is now one of the most popular channels in which consumers say they discover new products, encouraging them to buy. 

Social media shopping apps aren’t just influencing online shopping; it’s actually an integral part of customers’ research and shopping journeys today. Said that the modern online shopper craves convenience above all else. They expect a personalized shopping experience. All this got sorted when companies leveraged social media and converted it into social commerce. 

Here’s an list of benefits that social media shopping apps have made to users:

• The buying journey has been made seamless by social media. 
• Users see an ad, click on it, and buy the item right then and there. 
• Or maybe they’re scrolling through their social media feed and find something that piques their interest—and just like that, another purchase is made. 
• Now, they don’t have to spend time searching through an abundance of products or waiting in lines. 

To ensure that shoppers get what they need in a hassle-free way, online retailers are relying on social commerce apps that connect customers based on similar interests or needs. As a result, social shopping app development is on the peak.

Online Shopping Social Media Strategies: What Are They?

Let’s take a look at how social media is shifting online shopping trends—and what this means for your business if you want to keep up in the e-commerce space.

Strategy 1: Target Engagement; Not Sales

Marketers who want to ensure their social media channels succeed should focus on building relationships with customers before they go on a sales pitch. This may seem like counterintuitive advice but it is imperative to remember that the primary intent with which people visit social media is not shopping. 

Marketers must hold the hands of social media to build relationships. They should focus on sharing engaging information, building trust and focusing on customer feedback. Also, priority should be given to engagement over any sales efforts on social media. Consistent interaction through good  content on social media will eventually lead the consumer to a product purchase.

Strategy 2: Social Listening

Social listening is an important part of any business’s social media strategy. It’s the process of tracking online conversations about your brand, whether the mentions are in the form of tags, hashtags, reviews or simple comments.

If you don’t already have a social listening strategy in place, it’s time to get on it! Here are some of the top reasons why your e-commerce business should be using social listening:

• It allows you to learn what your customers like and dislike about your company.
• You figure out what your customers are actually looking for.
• Learn which of your clients’ complaints require immediate attention.
• Remain ahead of your competitors by getting insights into customer’s behavior.

Strategy 3: Social Media Paid Advertising

This strategy is the key to increasing your reach. Social media platforms offer an assortment of advertisement options. Sprout Social, a leading social media and content marketing consulting company, has recently offered insights into the usage of Facebook and Instagram ads by marketers. Their research shows that 89% of marketers use Facebook in their brand marketing efforts. 

The use of Facebook ads at such a massive scale by marketers confirms that social media ads are extremely valuable in increasing engagement and reach rates. Make sure the audience resonates with your selected platform before making an investment in any social media channel.

Strategy 4: Leverage the Power of Data

Marketers today are more focused on making the customer journey seamless and uncluttered with the right use of analytics. While it is true that social media platforms have inherent analytics tools like Facebook Insights, YouTube Analytics, etc., you can make your own way by leveraging the power of data that is already out there. You can track your audience’s thought process, buying behavior, attribution and a lot of other aspects which lets you monitor your paid advertising campaigns.

With all the data and analytics you have at your disposal, you are able to make intelligent decisions based on real-time data.

Strategy 5: Embrace the Emerging Platforms

It may seem like our world is dominated by Facebook, Instagram, Twitter and other big social media networks that are well known in the Western world. But there are plenty of other social platforms out there for marketers to consider, all having their own strengths and weaknesses when it comes to marketing potential. So, the key is knowing your audience. If you know who your target customers are, then this will make it much easier for you to determine what type of platform would work. 

However, one must keep on embracing the new platforms which are constantly popping up to remain ahead in the curve. Also, you must be considerate that when you start something from scratch, always keep the demographics in mind.  Therefore, it’s important to remember that what’s popular today may not be popular tomorrow. 

Boost Your Conversion Rate With These Social Shopping Apps

Ironically, social media isn’t just for communication and entertainment anymore—it’s for shopping, too. The ecommerce industry has become a part of the social media app ecosystem with the birth of social commerce apps. 

Let’s take a look at how these apps work and what trends you should be aware of as you develop your own social shopping app:

Instagram

Penned as one of the most popular social networking sites around the globe! Instagram is a mobile and desktop internet-based photo-sharing social application. It allows users to share pictures and videos either publicly or privately to pre-approved followers. It also has several features that make it a good place to do social shopping. Instagram’s business tools allow retailers to tag products in their posts. 

Instagram also lets you create shoppable ads so your followers can shop directly from your images without leaving the app at all! Online stores like Chico’s have easily synced the  product catalog with Facebook and Instagram. This allows users to tag the exact items in their posts so that customers can see what’s available for purchase and be directed exactly where they need to go for checkout!

Facebook

Facebook is the social media platform with the largest active user base, with 2.6 billion monthly users. As such, it’s a great place to reach a wide audience. It’s best suited for older audiences; in fact, 83% of adults aged 25-54 use Facebook. It has a wide range of targeting options that make it easy to reach your intended audience, including location and interests targeting, among others.

It also has a lot of e-commerce features: Facebook Marketplace allows you to sell directly to friends and followers; you can create advertisements within the platform; and its buy button lets visitors purchase items from your website without leaving their feed—meaning the shopper doesn’t have to go searching for your product on Google.

Snapchat

Snapchat is a unique social media platform in that it allows you to get creative with your product placement. A great way to use Snapchat for social shopping is to create an exclusive promo code or coupon to share with just your Snapchat followers, the same way you might on Facebook.

You can also use Snapchat for more interactive ways of showcasing products. For example, if you sell clothes and want followers to see how clothing fits on different body types in real life, consider asking a customer or influencer to model the items for their Snapchat following rather than spending money on professional models and photoshoots.

Pinterest

Pinterest is arguably the best social shopping app for connecting with people. It enables you to follow your friends, family members and influencers (and their pins). You can also repin products shared by other pinners. It’s also a great way to discover new products shared by other users based on your interests.

The platform tends to attract a female audience, so it’s ideal for promoting beauty and fashion products, food recipes and lifestyle products. However, it’s not just limited to brands as it’s also a great place for influencers and bloggers to connect with their target audiences, as well as artists, brands and celebrities who can showcase their artworks or latest projects. 

TikTok

TikTok is a short-form video platform that allows users to create and share 15-second videos. The platform has been described as the “fastest growing social media app” and it reached 500 million active users in only 2 years. 

To start selling on it you’ll need an online store (ecommerce site) where you can list your products. You can build one yourself with Shopify or Wix if you’re looking for a DIY option, or we can help set up a store for you. Once your store is ready you’ll need to connect it to your TikTok account so the app knows which products to display when someone clicks on the link in your bio. When people click through they will be taken directly to the page of your product on your store so they can make purchases right away!                                            

Build Your Own Social Media Shopping App With Idea Usher

As per the reports of eMarketer, the number of social commerce buyers in the US grew to 80.1 million in 2020. Also, it predicted that the number will reach 96.1 million in 2022.  That means you can’t afford to miss out on this trend if you want your business to stay relevant. In fact, you probably can’t afford to miss out on this trend if you want your business to stay afloat.

The good news is that Idea Usher can help. With our help, you can build an easy-to-use social media shopping app. It will integrate with popular social media platforms like Instagram, Facebook, and Pinterest. In no time, you’ll be able to give your customers a seamless experience when they shop online.

With Idea Usher, you can put your idea on the fast track from dream to reality. So, connect with our developers today and build exactly what you want.

For more information and a detailed understanding of the social shopping app development process, you can contact them at.

E-mail: contact@ideausher.com

Phone Numbers : (+91)9463407140, (+91)8591407140, and (+1)7329624560

Final Words

Nearly 2 billion people worldwide use Facebook’s family of apps every day. Instagram has 1 billion monthly active users (MAUs), and TikTok has 800 million MAUs (including 500 million MAUs in China). For comparison, Amazon has 150 to 200 million MAUs and eBay has around 100 million MAUs globally. These numbers indicate that making an investment in building your own social media shopping app is a worthwhile endeavor. And one that will pay off handsomely if you get in early enough!

It’s still early days for social commerce. The concept and statistics are new, and the experience is different from traditional e-commerce. Shopping on social media is more about browsing and interacting with friends than it is about buying stuff. As a result, the apps that provide this functionality are still evolving. As you can imagine, expectations for what makes a good shopping app are quite different from standard e-commerce transactions. So if you’re thinking of using Instagram or Facebook to shop, keep in mind this is all still new territory; there’s a lot of room to learn and improve here. 

FAQ

Here are some interesting FAQs on social shopping app development

Q. What role does social media play in e-Commerce?

A. For ecommerce websites, social networking is a powerful tool. It’s quite important to be able to not only guide users to a new product or an appealing price. But also to engage with them and establish a sense of community.

Q. What is the advantage of social shopping app development ? 

A. The social shopping app development makes it possible for retailers to share their latest products, offers and deals. This can be done on various social media platforms like Facebook, Instagram etc. This benefits in increasing sales, profits and brand name value.

Q. How much time is required to build a social commerce app?

A. There are many aspects , so it’s rather difficult to answer this question of how long it will take.

That would depend on the

• extent of the functionality you desire
• brand connection channels required
• app functionalities and features
• any other requirements you may have

What we can say is that we are able to deliver results extremely fast.

The post Social Shopping App Development: Statistics & Strategies appeared first on Idea Usher.

SaaS is everywhere, and in the long run, it is going nowhere! 

From small to large scale, every company and individual is becoming dependent on SaaS platforms. As of 2022, the SaaS industry is worth $170 billion, which is a huge revenue and a clear-cut indication of how fruitful it is to develop a SaaS platform. 

Did you know?

The SaaS development industry successfully increased its size by approximately 500%within the past seven years.

Said that SaaS is considered the most important tech when it comes to business success. So, before you plan for Saas development, let’s quickly skim through the 10 most popular software as a service platforms to understand who you are going to compete with. 

What is a software as a service?

“Software as a Service,” also referred to as SaaS, is a software licensing mode. It gives access to the software on a subscription basis, with the software being located on external servers rather than on the customer’s local computer. The SaaS provider hosts the application, and customers access it remotely through the Internet. This type of service is also known as “on-demand software” due to its ability to be scaled according to demand.

As an end user, you are likely using SaaS products on a daily basis. Consider Google Drive, where your documents and files are stored online rather than on your hard drive, or Gmail, where your email inbox is hosted by Google’s servers. Both of these are examples of Software as a Service because they are applications that can be accessed from any device with an internet connection.

SaaS provides many benefits for both service providers and customers:

• Customers enjoy lower upfront costs since no additional hardware or infrastructure is required;
• Additional storage space can be allocated faster and easier;
• Updates, maintenance, and backups are all managed by the vendor;
• Services can easily scale according to demand;

Popular Examples of SaaS

There are many SaaS (Software as a Service) examples out there that have been very successful in generating revenue. 

The list below is just some of the most popular ones that have stood out from the crowd:

1. Salesforce

It’s one of the most popular SaaS solutions available—and it offers both individuals and teams a number of ways to enhance their overall productivity. 

The user-friendly interface makes it easy to learn how to use Salesforce. You can also customize its features based on your specific business needs and integrate it with other applications such as Gmail and Slack. It’ll also provide you with powerful analytics tools that can help you make more informed decisions about everything from your pricing strategy to your marketing campaigns.

2. Dropbox

Dropbox is a cloud-based file storage system. It provides users with the ability to store, access and edit files from anywhere on multiple devices. Further, it enables users to share files with other people who may or may not be Dropbox users.

Dropbox has a free version that allows you to store up to 2 GB of data, as well as several premium versions that offer more storage space for a monthly fee.

3. Slack

Slack is a collaboration that provides real-time messaging services for teams as well as file storage, search features, and document collaboration tools. It’s a place where conversations take place, decisions are made, and information is always at your fingertips. 

The service is available for free, as well as multiple paid tiers with additional features such as unlimited message archiving and dedicated support resources. Slack currently supports apps for iPhone, iPad, and Android devices in addition to a desktop app for Windows machines and Mac machines that run macOS 10.10 or newer.

4. Zoom

The service was originally free to use, known as a web conferencing platform. Zoom now offers a paid service for enterprise video conferencing and comes with the benefit of an integrated chat feature. Its pricing tiers are based on the number of users and meeting time needed, so it’s affordable for any size business (especially considering the traditional cost of most enterprise software).

5. Hubspot

Hubspot offers a complete software suite designed to streamline the process of marketing, selling, and servicing customers. Salespeople can use it to nurture prospects more effectively and monitor pipeline efficiency. Marketers can create personalized campaigns for their users, and service agents can resolve customer issues quickly with its powerful ticketing tools. Hubspot works well for businesses of all sizes, from SMBs to enterprises. Many customers are in the B2B sector, but there are also plenty of B2C companies using Hubspot as well.

It helps businesses improve their marketing across email, social media, landing pages, and more. It’s a cloud-based solution that can be used on any device at any time. Its sales tools allow salespeople to track where prospects are in the buyer’s journey so they know when to follow up or close a deal. Its service tools let service agents manage tickets efficiently so they can respond to customers faster than ever before. The company has a reputation for providing outstanding customer support, which has helped them grow into one of the most popular SaaS solutions on the market today.

6. AWS

Amazon web services is another great example of SaaS that offers more than 150 services to users. Several necessary tools like IoT, machine training, corporate apps, security, blockchain, robotics, storage, customer commitment, and more are offered to businesses and individuals by AWS. Used by leading companies like Netflix, NASA, and United States Navy, AWS is a perfect example of a successful SaaS platform. 

7. Zendesk

Zendesk is a SaaS company that provides cloud-based customer service software, support ticketing, and help desk solutions for small to medium-sized businesses. According to the company, more than 100,000 organizations use Zendesk products around the world.

In 2009, Zendesk launched its first product: a help desk ticketing system designed for companies who wanted to provide excellent customer service without spending tens or hundreds of thousands of dollars on enterprise software. The platform offers several functionalities, like interactive voice response, queue management, inbound and outbound call centers, and analytics reporting.

8. Shopify

Shopify is a versatile SaaS that provides an e-commerce platform for all types of businesses. With Shopify, you can create and manage an online store and sell your products online using their tools. The platform itself is quite easy to use and has many great features, like an app store where you can add apps to customize your store.

For example, if you want to run live chat with your customers, there are dozens of options in the Shopify app store. In addition, there are apps for payments, shipping, marketing, reviews, and more.

Shopify helps you sell just about anywhere: on social media (like Pinterest), in person, or online. You can sell digital goods or physical goods and even use Shopify POS at a brick-and-mortar location or pop-up shop.

9. Box

The Box is a cloud-based multi-purpose software that allows businesses to collaborate, share, automate, and manage content and files over the cloud. It provides business and personal users with secure file sharing. They provide a freemium service that allows you to store up to 10GB of files for free. If you are looking for more storage capacity, they have subscription plans that offer various levels of storage space.

The Box is used by businesses, teachers, and students to collaborate, exchange ideas, and store information in the cloud so it can be accessed remotely. They currently have over 41 million individual users, and 90% of Fortune 500 companies use their services. It’s also one of the best software as a service example out there because they have over 17 years of experience in providing top-notch support to its customers.

10. Netflix

Netflix is an entertainment media company offering an online streaming service for subscribers. It came into the market as a DVD rental service. But in 2007, the platform became a popular site to stream films and TV shows instantly.

It has become incredibly popular thanks to its huge library of films, TV shows, documentaries, and cartoons. You can watch Netflix on your smart TVs, game consoles, PCs, tablets, and mobiles. It’s available in over 190 countries too.

Want To Develop Your Own SaaS Platform?-Connect With Idea Usher

You’ve got an idea for a software as a service (SaaS) platform but don’t know how to get started.

Don’t worry; we got your back! Idea Usher offers SaaS development in any configuration you can imagine. Our team consists of trained and experienced software developers who will work with you to ensure your project meets all of your needs. Whether you want to build something that aids your business processes or create a platform that both businesses and consumers can use, Idea Usher has the expertise to make it happen. 

For more information and a detailed understanding of the application development process, you can contact them at.

E-mail: contact@ideausher.com

Phone Numbers : (+91)9463407140, (+91)8591407140, and (+1)7329624560

Final Thoughts

SaaS (Software as a Service) is the future of business; that’s an indisputable fact. Services that have previously been used to augment or complement software products have now been replaced by cloud-based applications. SaaS software will continue to thrive in the years ahead and become a larger part of the world’s software landscape. With the right agency, SaaS development integration can be painless, allowing you to focus on more important things like your core business goals.

In a few years from now, we might look back at some of the steps we are taking today and see that they changed the way we approached SaaS in 2022.  While our current market is yet to be saturated, there’s no telling what will happen with all the competition and merger deals in place. Once a large chunk of our economy has shifted towards SaaS, possibly making it a mainstream business decision, things like innovation and disruption will still be roiling below the surface.

FAQS

Q. Why would I need a custom-made SaaS application?

You might be wondering why you would need to have a custom-built SaaS product when there are so many great platforms already out there to choose from. 

There are two main reasons:

• The existing products are not meeting your needs completely. They may be missing some features you want, or they may not be working properly on your platform.
• The existing products don’t take your business model into account. 

Q. What are the benefits of SaaS development?

• You can access SaaS from anywhere with an internet connection; no need to install special software or worry about compatibility with different operating systems.
• No servers or maintenance is required.
• Since SaaS is subscription-based, costs are economical.
• No infrastructure needed
• Simplicity: since it’s hosted by the vendor, SaaS is easier to implement than on-premise software because there’s no need for IT infrastructure and maintenance.
• Scalability: when your business grows, you can purchase more licenses from your vendor; if your business shrinks, you can cut back on licenses and save money.
• Innovation: many software vendors are able to roll out new features frequently—sometimes even daily—which is great for users who want the latest and greatest functionality without having to buy a new version every time it comes out.

Q. Can I Customize A SaaS Solution?

Yes! While each program has a standard set of features that users have access to, most companies provide options for customizing or adding new features to their products. You can also use a third-party developer to create these customizations for you.

The post 10 Popular SaaS Development Examples appeared first on Idea Usher.

What is a Cryptocurrency Exchange?

A crypto exchange platform is basically a marketplace where people can buy, sell or trade cryptocurrencies for other cryptocurrencies or fiat money. You can buy your Bitcoin or Ethereum from the exchange with the help of fiat currencies like USD, Euro, etc., or with other cryptocurrencies like Ripple XRP or Litecoin LTC. There are several apps for performing exchanges and more are under development.

If you have a passion for cryptocurrencies, starting your own digital currency exchange can be quite lucrative. Are you ready to start your own app like Coinbase? 

Read also:  Step by step guide: How to build a cryptocurrency exchange website?

Here’s what you need to know:

About Coinbase Exchange

Coinbase is a digital currency exchange based in San Francisco, California, United States. Founded in 2012 by Brian Armstrong and Fred Ehrsam with an aim to provide an easy way for people to buy and sell digital currencies around the world by using a secure platform. It operates exchanges of Bitcoin and other digital assets with fiat currencies in over 190 countries around the world.

It is one of the most popular global exchanges with 30 million+ users, $150 million+ trading volume and $8 Billion+ valuation. Coinbase is a platform where merchants and consumers can transact with new digital currencies like Bitcoin, Ethereum, and Litecoin. Coinbase charges a 1% fee for U.S. transactions from a bank account or Coinbase USD wallet. Purchases with a credit or debit card add on a 2.49% fixed fee.

Coinbase is sometimes described as the PayPal of cryptocurrencies because of its user-friendliness compared to other exchanges, which often require users to have extensive technical knowledge in order to begin trading cryptocurrencies.

Why to develop a Cryptocurrency Exchange App like Coinbase?

Coinbase is one of the biggest success stories in the tech world. While we aren’t going to see a Bitcoin ATM on every corner any time soon, cryptocurrencies have achieved a kind of legitimacy that many people thought they would never see.

Coinbase has been at the forefront of this development. In fact, if you’ve ever bought Bitcoin in the US, there’s a good chance you did so on Coinbase. It has more than 20 million users and over 150 billion dollars’ worth of cryptocurrency in circulation. So how did it get to become such a big player?

First things first: let’s talk about why this is even a good idea in the first place.

Cryptocurrency is on the rise. App like the Bitcoin exchange app is becoming household name, and there are constantly new coins hitting the market—so it’s a good time to get involved! There are more and more people who want to invest, but they’re not sure where to start. That’s where you come in. Your digital currency exchange will be able to provide that valuable service for your clients, and help them get started buying their first crypto.

Said that Coinbase exchange is also growing at an absolutely staggering rate. Here’s a quick overview of numbers that justify why developing cryptocurrency exchange app like Coinbase is highly profitable:

Not only that, but it’s an amazing opportunity for you to make a difference in your community. Cryptocurrency can be so confusing for new investors, and they often lack direction when they’re looking into buying their first crypto tokens. That’s where you can guide them through their investment experience with your exchange, giving them all the information they need to feel confident about making those first steps into the world of crypto investing.

How Does Coinbase Clone Script Works?

Coinbase makes it easy to start buying, selling and managing different cryptocurrencies. With a Coinbase account you can trade more than 50 cryptocurrencies including Bitcoin, Litecoin and Ethereum. 

To use Coinbase you’ll need to add a payment method to your account. This can be a bank account, debit card or PayPal account (or an Apple Pay wallet). 

You can buy and sell cryptocurrency through your Coinbase.com account easily with the desktop version of the site: 

• Just sign into your account and select Buy/Sell on the upper right-hand side of the screen. 
• Once your profile is complete, you can browse the cryptocurrency options on offer.
• Click Buy to choose which crypto asset you want to purchase, enter the amount you want to buy and then select your payment method. 
• After confirming your order, click Buy to complete it.

The basic Coinbase service is completely free to use (there are no sign-up or maintenance fees). If you’re looking for more advanced features such as trading history and open orders then you can try Coinbase Pro instead. 

If you’re trading through the app:

• Log in, then tap Buy and select the asset you’d like to buy. 
• Enter the amount you wish to buy, double-check your details, and then hit Buy Now. 

That’s all it takes to buy cryptocurrency via the Coinbase app. All of this comes standard with a Coinbase account. If you want more features, you can upgrade to Coinbase Pro. You can track the market, see open orders and trading history, and use an industry-leading API with Coinbase Pro.

As you can see, starting a crypto exchange like Coinbase is not as easy as it sounds but white label crypto solutions have made it very easy for crypto enthusiasts who are interested in launching their own bitcoin exchanges!

Key Features and Characteristics of Coinbase Exchanges

We’re going to walk you through everything you need to know about Coinbase digital exchange that will help you keep your crypto exchange application development process highly functional and customer  centric.

Feature 1: Easy to use interface

The key feature of CoinBase is its highly user-friendly interface that makes buying, selling and managing cryptocurrency very easy, fast and safe. All it needs is a bank account or debit card. Also, the users don’t need to switch between currencies to buy crypto. They simply can use GBP(British pound) wallets in Coinbase and do the transactions. It has a very straightforward interface and requires nothing to download to get started with it. 

Feature 2: Multiple Cryptocurrencies

Coinbase offers trading in several currencies that include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), 0x (ZRX), USD Coin (USDC), Basic Attention Token (BAT), etc. It also allows users to move funds between two wallets on Coinbase in any supported currency, which is great if you want to trade one type of coin for another.

Feature 3: Security

Coinbase accounts are protected by two-step verification and email alerts, which is helpful when it comes to making sure your account doesn’t get hacked and all your crypto gets stolen. Also, Coinbase is insured, which means in the event the website gets hacked the cryptocurrency is entirely safe.

Feature 4: Digital Wallet

The Coinbase Exchange is a hot wallet with multi-coin support and ways to earn cryptocurrency (which you don’t need to be a Coinbase user to access). It also provides a knowledge base of video tutorials, how-to articles, and guides with market updates.

Feature 5: Smart Tools 

Coinbase exchange application has several inbuilt smart tools to make users a pro in crypto trading. 

The tools include:

• Crypto news and articles: To keep up with the newest developments and expand your crypto expertise.
• Portfolio management: You get insights of everything from market insights to automatic buys to price alerts.
• Crypto tracker and dashboard: The tracker allows you to get insights of crypto prices and asset values at any time.
• Cryptocurrency watchlist: It allows you to see live prices and trends, add Bitcoin, Ethereum, and other cryptocurrencies to your watchlist.
• Bitcoin ticker: Keep up with the newest Bitcoin news. In the previous 24 hours, see which cryptocurrencies have moved the most.

Where CoinBase Falls Short:

Fees 

Fees are a big deal for traders, and the fees on Coinbase may knock your socks off. They charge 1.49% for transactions under $200. If you’re paying with a bank account, that fee is waived for the first purchase. They also charge 3.99% for credit card purchases of crypto. You can also store your digital currency in a Coinbase wallet—but it’s not free: they charge 0.99%. Coinbase charges more fees as compared to the other crypto currency exchanges. 

Customer Support

Several users have come up with complaints about the failed customer service and their timely response. 

Roadmap to Start a Cryptocurrency Exchange app Like Coinbase

So you’ve been tossing around the idea of opening a crypto exchange. You’ve got the business plan down, and you just need to find the right people to make it come together. 

Here’s a quick roadmap of how you can develop your own crypto exchange app like Coinbase:

Step 1: Market Research

When you’re starting a digital currency exchange, market research is the first thing you should do before anything else. What’s your crypto focus? How does it relate to current trends in cryptocurrency?

You’ll want to understand how your business relates to the current trends in cryptocurrency technology. With the emergence of advanced technologies such as NFT, your digital currency exchange platform should include many features and provide a one-stop shop for all crypto needs.

Step 2: Select the Operational Region

This is probably one of the most important things you’ll do when setting up your crypto business. The laws surrounding cryptocurrency are different in every country, so it’s important to choose a country that allows you to run a successful crypto business with as few interruptions as possible. If your home country has strict regulations, it might be better to choose another country that’s more welcoming to cryptocurrency businesses as your headquarters. 

Also, you must be very considerate about getting a license before starting the digital currency exchange. You are required to obtain both national and international licenses for running a successful cryptocurrency company in any country you prefer. 

Step 3: Choose the Type of Crypto Exchange Platform

Next you must choose the type of crypto exchange platform you need. You can either go for the centralized or decentralized platform. The former type of platform allows you to trade crypto with other users, and it has a centralized database that records all transactions. Users’ funds are stored on the database as well, which means that if the database is hacked or corrupted, all of the users’ money could be in danger. If your main focus is security, this may not be the best option for you.

Decentralized exchange platforms are another available option. These platforms allow users to trade crypto directly with one another using smart contracts that execute once set conditions have been met. This type of platform creates a peer-to-peer network where information can be exchanged without any third party interference; in other words, no single person or entity has control over the data or transactions being made.

Step 4: Exchange Architecture

Before starting any development process, you should first understand the architecture of a digital currency exchange platform. The architecture will help you choose which type of platform you want to design and launch it in the market. You can either choose centralized or decentralized mode as per your preferences.

When you’re ready to create a digital exchange platform, the first thing you need is an architecture that can enable your users to quickly and easily trade coins and tokens. You’ll need to gather high-end technology tools, put together an excellent team that includes professional blockchain, smart contract developers, designers, and quality testing engineers. 

If your goal is to launch your own exchange platform quickly, you might want to consider starting with a popular clone script. This will allow you to kickstart your crypto business instantly.

Step 5: Find the Development Solution Provider

Now it’s time to develop the platform itself. This is where you’ll need both developers who can create traditional apps and blockchain developers for back-end and front ends.

We’ll break this down into two parts: the front end and back end.

• The front end is what users see when they interact with your application. It’s the interface that will allow them to buy, sell, or trade cryptocurrency using your service.
• The back end is what powers everything that happens on the front end — it’s where all of your transactions take place.

Step 6: Partner with Payment Providers

Partnering with a payment processor is one of the most important decisions you’re going to make when building your own platform.

That’s because the payment processor is what enables your users to deposit and trade on all kinds of cryptocurrencies. A great cryptocurrency payment processor will allow you to integrate up to 300 different payment systems into your digital currency exchange platform, and easily modify that number as your business grows.

Step 7: Generating Liquidity

When it comes to liquidity in a business, it refers to the ability to buy or sell an asset without any impact on its price. A crypto exchange should have enough liquidity to sustain in the market and provide a smooth trading experience. This makes customers more confident and increases their trust in the business as they know they will always get a fair price for their investment.

On the other hand, users tend to be reluctant when they see low activity on an exchange as they fear getting trapped. 

There are various ways, but here are some ways that have proved to be trusted:

• Stimulate trading between two artificial host accounts within your exchange: This can help create some buzz around your business within your exchange itself!
• API can help establish a connection between your exchange and an already thriving exchange: By connecting your exchange’s API with a popular exchange already established

Step 8: Security and Protection

When you’re building a digital currency exchange platform, there are a lot of features that you need to keep in mind. You have to build in the ability to exchange different types of cryptocurrencies and fiat currencies, the ability to set up wallets and accounts, the ability to set up buy orders and sell orders, and so much more.

But don’t forget that one of the most important features your site needs is a high level of security. Blockchain technology is an effective way to provide security for your platform when it comes to storing user information and maintaining transaction histories, but blockchain isn’t foolproof. That’s why it’s so important to add additional security features for your site.

Step 9: Testing

Once you complete the development of the app, you should focus on doing beta testing. This will ensure whether your platform functions effectively on any internet service provider and in mobile apps.

Step 10: Customer Support Channel

You should build up a strong customer relationship by integrating a strong customer support channel that can solve the queries of your users and traders who trade in your platform.

Tech Stack Requirements

To develop a Coinbase clone, one needs a high-performance, scalable, secure, and reliable tech stack to serve customers across the globe.

In order to help the users get the best possible experience with cryptocurrency, you must be building over technology that caters to all the requirements in terms of functionality and features.

Below is a quick rundown of some of the technologies required for app development:

Developer Tools for Decentralized App Development:

• Parity 
• Truffle
• EthPM
• Oyente
• Remix IDE
• Zeppelin

Programming Languages for Decentralized App Development:

• Solidity 
• Viper

Develop Your Own Cryptocurrency Exchange App Like Coinbase With Idea Usher

This was a rundown of what it takes to start a digital exchange like Coinbase. From setting up the infrastructure, developing custom features and potentially launching your own cryptocurrency. 

If you are still wondering how to start an app like Coinbase then worry not, we have got your back. Idea Usher, your partner for development, is always ready to help crypto fanatics to make their crypto exchange idea a reality!

Idea Usher strives to be at the forefront of technological innovations. Whether you are an individual entrepreneur or an established corporation, we can provide you with a custom and elegant solution that is tailored to meet the needs of your business and clients. With our passion for innovation and enthusiasm for achieving great results, we always find a way to turn complicated ideas into real solutions on time and within your budget. With our unflinching commitment to quality, we ensure that every app we develop for our clients meets their precise needs. 

When you work with us, you can rest assured that your project will be executed without fail. As such, we have built a reputation as one of the most reliable Cryptocurrency exchange app development companies.

For more information and a detailed understanding of the application development process, you can contact them at.

E-mail: contact@ideausher.com

Phone Numbers : (+91)9463407140, (+91)8591407140, and (+1)7329624560

Final Words

Starting a digital currency exchange might seem like rocket science but the concept will be simple, very easy to understand and implement when you hire the right developing partner. If the vision is supplemented, plans executed properly and the path is clear, the crypto exchange business will bring you a huge fortune.

Currently, there are several digital currency exchanges that are run on Coinbase’s platform. This shows that the market for crypto exchange development is getting more competitive. If you are planning to go live with your exchange in near future, we recommend you do not wait because the competition is going to intensify and if you’re not ahead of the curve, it’s going to impact the success of your business in terms of revenue, profitability and growth potential. The bottom line is: If you want to stay ahead of competition, it’s always a good idea being quick off the block.

FAQ

Here are some interesting FAQs on crypto exchange development:

Q. What is Coinbase and Coinbase Pro?

A. Coinbase and Coinbase Pro are two major platforms, both of which are owned by Coinbase Global Inc. Coinbase is a brokerage with a virtual wallet, but Coinbase Pro is a digital currency exchange where customers can easily buy and sell. Beginners like Coinbase because it makes buying and selling cryptocurrency simple. Also, Coinbase Pro allows people who are familiar with trading to take advantage of a variety of trading options. 

Q. How long does it take to develop a crypto exchange app?

A. Well, there are a lot of factors that go into answering that question, and it’s not always easy to say. So, depending on the app functionality, design, platform integration, technology stack, and features, the average time taken can vary from 6 to 12 months. 

Q. What’s the biggest challenge to onboarding users to a crypto exchange app?

A. The biggest bottleneck to onboarding users is the lack of liquidity, or active trading and investing activity on the platform. There needs to be enough activity on your platform to show that there’s trading and investing going on there. One way some exchange businesses solve this problem is by integrating with other exchanges and market makers for liquidity, and using bots to emulate transactions. That should give you an idea of how much friction you’ll encounter in this space if you’re trying to get people to buy in. 

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