promise to the world is to make money and payments universally accessible to
everyone, without any geographical barriers.
Finance (DeFi) takes that promise a step further. DeFi is a rapidly growing
industry and a large part of its success relies on a DeFi wallet. Imagine that
you provide your users with a global, open alternative to every financial
service they use today, such as savings, loans, insurance, and trading at just
a single tap of their smartphone. You could generate a new revenue stream for
before your rush with the development process, it is important to be clear
about what DeFi wallet is.
DeFi wallets are based on the concept “be your own bank”. They offer
transparency, freedom, and accessibility, all while ensuring the user is still
in charge of their own funds. This is the reason they are gaining immense
popularity among users.
How to Build a DeFi Wallet
Step 1- Defining the problem and setting goals
the beginning, it is important to find out how the DeFi wallet is going to
solve a particular problem and if you need blockchain technology for that. To
make a DeFi wallet, it will be good to have a business analyst on board.
Step 2- Designing the Architecture
you should choose where your DeFi wallet will be placed: in-house, in the
cloud, or in a hybrid way. We recommend the cloud framework. Next, you need to
choose a perfect solution in terms of access: private blockchain, public blockchain,
hybrid blockchain, permissionless solution, etc. Depending on your business
type, each solution may work better than others. But well, if you intend to
have different roles in your wallet, private blockchain may be the best
solution to build a decentralized wallet.
Step 3- Choosing the Consensus Algorithm
any decentralized system, the developers need to choose how the network members
authenticate a transaction, for example, via proof of work, proof of stake,
Byzantine fault-tolerant, etc. If you are not sure, do not shy to consult a
skilled team of developers and business analysts.
Step 4- Selecting the Platform
on the stability needs, scale, solution, and budget, you need to choose a
blockchain platform to build your DeFi wallet. The leading platform to make
decentralized finance, for now, is Ethereum. Since it’s an open-source solution
platform, it helps to accelerate the development and save costs. This, in turn,
will be a better choice, as building a DeFi platform from scratch requires
higher development cost and time.
matter how great your backend is, a user will be able to evaluate the DeFi
wallet by its intuitive UI and functionality. This is the reason why you need
experienced and proficient front-end designers and developers to nail it.
Step 6- Testing and Deploying the wallet
is one of the key features of blockchain technology. Thus, before deploying the
wallet, make sure that it has passed a considerable testing mode. We also
recommend choosing the MVP model for your wallet at an early stage.
all the critical issues are solved, you can scale the wallet and even integrate
it with other technologies, such as AI, Big Data, IoT, etc.
wallets play a crucial role in the success of the whole DeFi ecosystem.
Decentralized wallets not only allow users to manage their assets but also to
interact with other DeFi apps. DeFi wallets are a crucial alternative to
traditional banking and centralized finance. Despite how new the industry is,
DeFi has made great progress and it’s clear that DeFi is here to stay.
you are looking to develop a Bitcoin wallet for DeFi, Antier Solutions can
help. We provide a white label DeFi wallet solution reinforced with robust
features like in-chat transactions, multi-signature support, QR code scanner,
multi-layer security, and more. Our white label software can help you build
your DeFi wallet in just 3 weeks.
a free demo of our white label decentralized wallet solution or connect with
our subject matter experts to share your needs for a custom wallet built from