React Native Dev for Cryptocurrency Exchange Platform
- Mobile App Development
- $50,000 to $199,999
- June 2017 - Ongoing
- Quality
- 4.0
- Schedule
- 4.0
- Cost
- 5.0
- Willing to Refer
- 5.0
“Even despite competitive prices, the quality of both Binary Studio’s teammates and coding is exceptionally high.”
- Financial services
- Berlin, Germany
- 11-50 Employees
- Phone Interview
- Verified
Binary Studio Forex developed and implemented a fintech trading app. Coded in JavaScript in a React Native library, it’s compatible with any mobile device. The updated charts demanded complex coding.
Binary Studios ethically, reliably, and skillfully produced a flawless end-to-end deliverable. It currently has 70,500 installs, 5,000 active and thousands of paid monthly users. With ratings of 4.5 stars on Google Play and 5 stars on the iOS App Store, users have termed this app “revolutionary.”
A Clutch analyst personally interviewed this client over the phone. Below is an edited transcript.
BACKGROUND
Introduce your business and what you do there.
I am a co-founder and the CEO of Hummingbird Trading, a Forex trading application and mobile exchange for cryptocurrencies and fiat currencies.
OPPORTUNITY / CHALLENGE
What challenge were you trying to address with Binary Studio?
Using React Native was definitely one of the best choices we've made for this particular business. It’s a library that Facebook initially set up for internal use, specifically for their advertising app. Since this library is so new, Binary Studio is one of the only engineers we found who knows how to develop with it.
SOLUTION
What was the scope of their involvement?
My team in Berlin specified, designed, and defined the requirements prior. Afterward, we send the complete functional specs over to Binary Studio for development. As a mobile-first trading application and company, we use React Native as our primary frontend technology to display our product on mobile phones. This unique technology allows us from one single code base to publish our app on Android, iOS, and even Windows phones.
They worked very hard on an updated financial trading chart for the first 2-3 months of 2018. We built the first iteration of Hummingbird in the native code for respective platforms because there weren't enough existing libraries and React Native. This complex new chart fluidly updates fluidly in real time and requires particular indicators. It's quite an impressive feature.
When it comes to code reviews, they address bug fixes as soon as we notice an issue. I'm pleased with our current full-time maintenance resource who also develops new add-ons. He follows our complete QA guide before he even sends me a build of the application for final sign-off.
What is the team composition?
Since I oversee all the work myself, we didn't need a project manager. Binary Studio first assigned us two developers, which we later scaled down to one after completing the heavy development. They've also mentioned having an in-house designer, but I've never met or worked with that resource.
How did you come to work with Binary Studio?
My good friend had initially developed the first part of the frontend application. When I needed additional support, I searched for San Francisco based vendors who were experts at React Native. Since they're actually offshores, I found Binary Studio purely by accident via a link at the bottom of a website.
The main reason I hired them was their substantial JavaScript specialties, especially compared to other vendors. I'd already worked with lots of amazingly skilled, hardworking, and ethical Ukrainian outsourced coders, as well. Choosing to work with Binary Studio was a no-brainer, and offered me major benefits.
How much have you invested with them?
I've probably spent around $40,000–$50,000 on their work.
What is the status of this engagement?
We signed a contract with Binary Studio in June or July of last year, 2017. They're still providing ongoing development work for us. Our product has been live since January 2017.
RESULTS & FEEDBACK
What evidence can you share that demonstrates the impact of the engagement?
We currently have a worldwide reach of over 70,500 installs to date. As of five minutes ago when I happened to check, we've been averaging around 5,000 monthly active users. Regarding paying customers, we're in the low thousands.
Binary Studio offers a much better value than expensive US developers or ones in Germany where I'm based. Furthermore, they provide better deliverables than cheaper firms in the Eastern hemisphere. Despite competitive prices, the quality of both Binary Studio’s teammates and coding is exceptionally high.
Our app has a 4.5-star rating on Google Play and a 5-star rating on the iOS App Store. Most of our user feedback is pretty good. Most negative feedback on either platform are complaints about financial trading loss, rather than the app's usability and technical side. Occasional bugs that slip through the QA process that get a negative response. Overall, though, the UX receives positive comments that indicate people seem to like the app. One comment that stood out was that it's "revolutionary."
How did Binary Studio perform from a project management standpoint?
My company is spread out across offices in New York and Europe plus contractors in Ukraine, India, and the Philippines. Since we're already a delocalized and decentralized team, we use Slack as our primary communications channel. The entire team is used to working far apart from each other, so adding Binary Studio to our correspondence was easy. My CTO is based in eastern Ukraine on the opposite end of the country from Binary Studio. Having similar linguistic and cultural connections makes the work much easier.
One advantage we found was that Binary Studio' time zone proximity to our backend development makes it easier for those teams to communicate during the working day. We've been using Trello to design and track progress on sprints and provide all the bug tracking tools like Bug Snag we have available. They take this process quite seriously and usually spend a few days up to a week checking for errors.
What did you find most impressive about them?
I like their salesman, who's such a nice guy. He flew me out along with some of my other developers internationally to meet the Binary Studio team. I had a great time getting to know them in person; they're very welcoming and a lot of fun. They go out of their way to make clients feel the developers at Binary Studio are part of your team.
Are there any areas they could improve?
I don't like their invoicing schedule, which is different than what my accountants are used to. They bill us before the next month's work, which frustrates my accountants because it adds more work for them. I've asked them to change it, but I assume they've been burned by unreliable customers in the past. Other than that, I'm pretty happy with the process.
Do you have any advice for potential customers?
It's important to know how to manage these types of projects remotely. When outsourcing development, you need to be entirely in charge of all the preparatory work. Tasking a contractor with those responsibilities will likely end in disappointment.
Completing the processes from design through the specifications beforehand will yield a much better UX. It wouldn't be Binary Studio’s fault if the designs aren’t satisfactory since that's not their area of expertise.
RATINGS
-
Quality
4.0Service & Deliverables
"The quality of service is fantastic, I don't like their billing process."
-
Schedule
4.0On time / deadlines
"My current resource is slower than my back-office developers, but that's likely due to budget and experience limits, not Binary as a whole."
-
Cost
5.0Value / within estimates
-
Willing to Refer
5.0NPS
"I've already recommended them several times.