Cryptocurrencies are common and technological advancements that have eliminated the need to transfer money from one bank to another. Moreover, the acceptance of cryptocurrency has led to crypto adoption, which has further resulted in increasing demand for cryptocurrency wallet app development services.
What is a Cryptocurrency Wallet?
In simple terms, just like any digital wallet, a cryptocurrency wallet is software to store, send and receive different cryptocurrencies. It keeps a record of all the transactions with complete security and privacy. Users only need to download the cryptocurrency wallet on any compatible device to get started.
Different types of Cryptocurrency Wallets :-
- Desktop wallets
- Web-based wallets
- Mobile wallets
- Hardware Wallets
- Paper Wallets
Need For Crypto Wallet Apps
With the success of Bitcoin & Ethereum, more people have started investing in cryptocurrencies. Owing to this, more cryptocurrencies are emerging in the market every day. Though Bitcoin, Ethereum and some cryptocurrencies have come up with their own cryptocurrency wallets, traders who want to invest in multiple cryptocurrencies look for multi-currency crypto wallets. Mobile crypto wallets are widely used as they can be easily accessed from anywhere. Nowadays, more and more businesses are investing in mobile crypto wallet app development because of the following reasons:
- Smaller and less complicated than other wallets.
- Fast, easy and convenient transfer of digital currencies.
The best part about crypto wallets is all the transactions of the wallet are encrypted, anonymous, decentralised and inexpensive. Furthermore, mobile crypto wallets provide maximum security to protect users from every kind of data distortion or fraud.
Things to consider for crypto wallet development
Whether you choose to build a crypto wallet from the ground up or opt for a white label crypto wallet solution instead, it is important to consider the following things for a smooth development journey.
- Understand Blockchain and Cryptos
Blockchain plays a vital role in crypto wallet app development, if you plan to develop a crypto wallet, you need to thoroughly understand the blockchains and cryptocurrencies.
Create your own Cryptocurrency Wallet App
- Choose The Technology Stack
Based on your requirement, you have to select the technology stack. To build a scalable web app, you can consider Node.js or Angular.js with HTML5 and CSS3 while for an Android app, you can consider Java or Kotlin and for iOS apps, Swift or Objective-C.
Top-notch security is a major factor for crypto wallet development. 2FA — fingerprint, face ID, and any other authentication can be considered for adding extra layers of security. And, you also need to continuously carry security updates to identify and fix any issues.
To stand out in the crypto space, you need to keep an eye on what your competitors are doing and add unique features to your app.
The ever-increasing popularity of cryptocurrency wallets has increased the demand for cryptocurrency wallet app development. Though there are some challenges in creating crypto wallet apps, the results of executing them in the right way are huge. So invest in crypto app development to become a bigger player in this highly-evolving market.
At Antier Solutions, we provide business-oriented services for crypto wallet development. Our experienced blockchain engineers specialize in the development of customized wallets from the ground up. In addition, we provide a white label crypto wallet solution fortified with market-leading features like biometric authentication, QR code scanner, multi-signature support, in-chat transactions, and more.
Schedule a free demo of our white label wallet or connect with our subject matter experts to share your business needs.