Are you planning to develop your crypto wallet app? Then, you’ve landed on the right place. This article will cover all the nuances of cryptocurrency wallet development and why it’s best to use the cookie-cutter approach.
Crypto Wallet App – Definition
A crypto wallet can be a hardware device or a mobile/web application that allows crypto enthusiasts to store their cryptocurrencies safely. It is a digital wallet that keeps your private keys – passwords that grant you access to your cryptocurrencies – safe and accessible while allowing you to send and receive cryptocurrencies such as Bitcoin. These keys will enable you to make transactions and prove that you own your digital money.
The number of cryptocurrency wallets to save users’ money is increasing with the growing number of cryptocurrency traders and enthusiasts. According to Statista, the rise in cryptocurrency wallet development services has increased the number of Blockchain wallet app users worldwide.
Multi-currency Wallet App
It’s now become easier to send crypto payments from across the world (through wallets). But if you’re operating your business with a wallet that only supports one cryptocurrency, your business is lagging behind. Courtesy of the multi-cryptocurrency wallet development, the solution is simple.
Finances under One Platform
You needn’t switch between blockchain-specific crypto wallets to send/receive crypto payments. With a multi-currency wallet app, one can manage all their financial activities under a unified platform. When you manage everything from a common platform, it’s a whole lot easier to keep track of income and expenses.
The benefit of using the Blockchain Wallet App or other similar cryptocurrency wallet apps is that you can store and trade multiple digital currencies without switching screens or devices. It also allows a single app to serve as a platform for keeping track of your digital currency portfolio’s status.
Better Experience for Users
As entrepreneurs, we all want to delight our customers and provide them with a simple experience. The last thing you want is to make your customer go to a bank branch to pay you and go through a complicated international payment process (which will almost certainly cost them money).
In the worst-case scenario, the customer may be confused by account numbers that are formatted differently than in their home country, resulting in the transfer never arriving and bouncing back to their bank account.
What Is A Cookie-cutter Approach?
It refers to the deployable style/approach. There are several stages in the development of a cryptocurrency wallet. The development phases are listed below, and they occur regardless of the type of crypto wallet you create.
Planning
Any development process begins with a stage of planning. Before developing your crypto wallet app, you must first decide which features to include. Look for a cryptocurrency wallet development company that can incorporate these features into the product when looking for one.
Budgeting
A well-thought-out strategy will assist you in completing the first phase. Before you begin development, you must first consider and set a budget. Many businesses and entrepreneurs mistake not planning a solid budget and end up with a slew of issues. It would also be advantageous to include the MVP features in this process.
Developing
Here is the phase where the development company gives life (code) to the crypto wallet app. The user interface will determine the success or failure of the product. Create a clear and crisp UI that a solid UX backs up. The user will want to return the product as a result.
Testing & Launching
It’s now time to put the product to the test. Testing is an important but often overlooked aspect of the development process. During this phase, the team fixes any bugs or glitches discovered in the app.
I could hear you saying if I were to pursue a cookie-cutter approach to cryptocurrency wallet development;
How Much Will it Cost?
The standard cost to create a crypto wallet app depends on the functionalities (you want), tech stack, and the hours of resources. As the demand for crypto wallets grows, the entrepreneurs (like you) should place greater interest in security features than in saving budgets.
The security feature that comes with the crypto wallet app is a common but equally important feature. Because your app is built on Blockchain, a technology that has the potential to revolutionize mobile app security, you should give your users the ability to change their pin or password, as well as any other private information, within the app.
To create a crypto wallet app with all of these features, you’ll need the support of a technology stack that’s been developed and combined in such a way that the result is a fast, scalable, and hack-proof solution.
Conclusion
Developing a hack-proof crypto wallet, especially a multi-currency wallet app incurs a lot of effort and time. You would need a technology partner to share the workload. Hire your technology partner (aka) development company first, and then proceed with your crypto wallet venture.
