While I understand the idea of charging for other popular translations to cover costs, I don’t believe KJV is the best choice for the default free translation. In addition to it already being phased out by most churches, it tends to make verses more difficult to understand than they necessarily need to be to the modern reader. Either ESV or NIV would make a much more understandable and more useable translation to have memorized, especially when sharing verses with others who may not have grown up learning their “thee’s, thou’s, tho’s, and thus’s. That being said, your app is a fantastic idea and a great help to many Christians.
KJV is public domain so it’s free for anyone. If they start with another translation they’d have to have an initial charge for the app to pay for the liscensing fee of ESV/NIV, or else they’d have to pay money themselves for everyone that downloaded the app.