A Complete Guide on Cryptocurrency Wallet Development

Cryptocurrencies became available to the public in 2009, and within a few years, everyone understood the benefits of digitizing their assets. Whether it’s incredible security, more private transactions, cross-border payments, or 24/7 markets, there is a big list of breathtaking reasons for using Cryptocurrencies. If you are a Crypto holder, then the question of your transaction security must be puzzling you. Well, a Cryptocurrency wallet development company can perfectly answer your question.

 How?

 Let’s explore it in this blog.

Cryptocurrency is a digital currency that works on blockchain technology. Like other tokenization processes (such as real estate tokenization), you need a wallet to store or trade your tokens. Similarly, you need a Cryptocurrency wallet to store exchange, and trade virtual currency such as Bitcoin, Ripple, Ethereum, Monero, etc. This wallet allows users to safely store crypto assets and process thousands of real-time transactions effectively. Cryptocurrency wallets are the backbone of the industry as it ensures the security of end-user digital assets.

If you are also searching for a Cryptocurrency wallet development company,  then this blog will prove helpful. It explains the need for Crypto wallets for your cryptocurrencies. Moreover, at the end of this write-up, you will find an experienced Cryptocurrency wallet development company to help users manage and store all their cryptos on a single dashboard.

These wallets provide a range of functionality and make your transactions safe and quick by using Blockchain technology. The number of Blockchain wallet users has been increasing phenomenally in recent years. Look at the below graph, which shows more than 68 million wallet users in 2021, and the number keeps on increasing in 2022 as well.

Number of Blockchain wallet users worldwide

With the increase in mobile accessibility, the number of Cryptocurrency wallet users is increasing and so is the need for Cryptocurrency wallet development companies. Most of you might not have a complete understanding of Cryptocurrency wallets, for them, we will start from the basics, first understanding what are these wallets.

Shall we start?

What is Cryptocurrency Wallet?

A Cryptocurrency wallet is a software application used to store your Crypto and allow users to store and retrieve their digital assets. It is a software functionality used to hold public and private keys and allow users to send & receive Cryptocurrencies and have track of the Crypto balance. You can take it as a combination of a bank and a wallet.

This wallet is a secure medium to monitor, earn and transfer your digital currencies (Crypto tokens). In this wallet, the Cryptocurrencies are recorded as transactions on the Blockchain network like Hyperledger, Ethereum, etc. Whenever Crypto is transferred to the wallet, its ownership is passed to the dedicated wallet’s address.  Hence we suggest that all Crypto owners must have a Cryptocurrency wallet because it enhances the security of their digital currencies. A Crypto wallet developed by a Cryptocurrency wallet development company lets users control the Cryptocurrency and have a smooth and secure digital transaction. This wallet can be in any form- offline, online,  mobile or desktop, or software. Get an insight into the various types of Cryptocurrency wallets and explore the type that best suits your requirements.

Types of Cryptocurrency Wallets

You must have used various types of wallets to keep your money secure and still never stick to the same one again. In the same way, have you ever wondered about using different bitcoin wallets to save your Cryptocurrency? I’m sure you haven’t. But, before selecting, you must know about the types of Crypto wallets. Here, I have listed a few that will help you to get an insight into various Crypto wallets. If you still find them overwhelming, then I would suggest you hire a Cryptocurrency wallet development company. They may help you to get the best one in determining the needs of your business.

• Desktop Wallet

This wallet enables the user to store their Crypto on the desktop. These wallets work on all operating systems like Windows, Mac OS, and Linux. You have to install these wallets like any software. The best bitcoin desktop wallets and bitcoin wallet apps are- Electrum, Exodus, Atomic Wallet, and Bitcoin core

• Hardware Wallet

Here you can store Cryptocurrencies in physical equipment plugged into your system via a USB port. The two most popular cryptocurrency hardware wallets are- Ledger Nano X  and TREZOR T

• Web/Online Wallet

These wallets are helpful to users who cannot access their PC and want to view their accounts. Here you have control over your Cryptos from anywhere via any browser or mobile Crypto wallet app with access to the web. Zengo wallet is one of the example of these types of wallet.

• Mobile Wallet

It is a combination of desktop and online wallets. Here users can use the mobile Crypto wallet app and access their Crypto from any place across the globe. Some of the best mobile wallets and the best crypto wallet apps are- Exodus, Trust wallet, etc.

• Full Node Wallet

You control your private keys in a full node wallet and store a full copy of the blockchain. A few examples of full-node wallets and blockchain wallet apps are- Umbrel, Specter, MyNode, Blockcore, etc.

• Custodial Wallet

In this type of wallet, the private keys are stored by a third-party’s server. Freewallet and BitMEX are some examples of custodial wallets.

• Software Wallet

Any wallet that is software-based is a software wallet. You can either have it as a desktop wallet or a mobile wallet (Android, iOS). Jaxx Liberty and BitGo are the most popular software wallets. 

• Network-Specific Wallet

These wallets are perfect for storing multiple tokens on a single network. Free Wallet is one example of a Network-Specific wallet.

• Coin-Specific Wallet

If you want to have a wallet for a specific Crypto coin, this wallet will be the best choice because this wallet works only with a particular coin. Coin base wallet is one of the popular coin-specific wallets having its Crypto wallet app, browser extension, and decentralized application (dApp).

• Universal Wallet

Using this type of wallet, you can access different addresses of multiple Crypto coins in one place. One of the popular universal wallets is Coinomi which is famous for its multi-chain Crypto bitcoin wallet app and desktop wallet.

Let’s discover why you need all such types of Cryptocurrency wallets.

Top Benefits of Integrating Cryptocurrency Wallet for your Business

Integrating a Cryptocurrency wallet would be highly beneficial for your business. It not only enhances security and encryption but also supports multi-Cryptocurrency support. Isn’t it amazing? There are various Cryptos available in the market. Hence a multi-Cryptocurrency wallet development can help you secure different cryptocurrencies in a single wallet. In addition to multi-Cryptocurrency wallet development, there are a few other benefits of integrating Cryptocurrency wallets for your business. Let’s discover them all. 

• Ease of use

These wallets are extremely easy for users to use. Just by installing the Crypto wallet app, they can start using it. Depending on the wallet you want to develop from a Cryptocurrency wallet development company, you can have a dedicated solution that accepts only a single or multiple types of data transactions.

• High-security and encryption

Cryptocurrency wallets offer a high degree of security by using cryptography. Hence all the data stored in the wallet is encrypted, and other than the wallet holder, no one can see it. Moreover, the additional layer of security like multi-signature wallets and two-factor authentication makes these wallets more secure than all other forms of digital payments.

• Easy transfer and low fees

Cryptocurrency wallets allow users to perform instant transactions worldwide, eliminating intermediaries in transactions. In this way, the transaction fees are significantly reduced or even eliminated. 

• Integrity and stability

Blockchain technology is very reliable as the same data is distributed and verified. Hence there is a guarantee by integrating the bitcoin wallet app that the data cannot get corrupted, lost or tampered with. That’s why these wallets are also highly authentic and reliable and create trust among people.

• Multi-currency support

As a vast number of Cryptos are present in the market, hence using a multi-currency wallet enhance your trade capacity in all way. This multi-currency wallet removes the need for using different wallets for different assets. The best multi-Cryptocurrency wallets are easy to use, secure, store multiple currencies, and provide Cryptocurrencies under the same interface.

• Trading and Investment

These wallets are enabled for direct trading through a number of top exchanges. Thus offering users to invest/trade their assets for more profitability.

• Inflation-free Investment

These Cryptocurrency wallets save you from the volatility of the Crypto or Blockchain market and the fluctuation of prices. Thus users can have inflation-free investments using these wallets.

• Automatic-session Log out

In the Cryptocurrency wallet, after every session, you log out automatically. Hence these wallets keep security a foremost priority and make the transaction safe. We are sure after reading these benefits; you are excited to create a Cryptocurrency wallet to secure your Cryptos and ease down the transaction processes. The one question which must be running in your mind is the need for a professional Cryptocurrency wallet development company and how to find a company that can develop your wallet at the best price.

Without further delay, let’s move on to resolve this doubt!

What is the need for a Cryptocurrency Wallet Development Company, and how to find the best one?

With the increase in Cryptocurrencies, monitoring and securing your digital transactions has become crucial. In the past few years, the increasing price of bitcoin has let businesses use Cryptocurrency wallets for digital transactions. If you are also planning to create your wallet, Crypto wallet app, bitcoin wallet app, or Blockchain wallet app you must hire a professional Cryptocurrency wallet development company because these projects involve lots of complexity and finance. Hence it’s better not to take any risk and put your Crypto wallet development in the hands of an expert. A talented Cryptocurrency wallet development company develops secure Crypto wallets for your platform. These companies ensure that the core implementation of Blockchain remains adaptable for any coin. 

An experienced Cryptocurrency wallet development company helps your business by creating a wallet that can 

• Safely protect online payments through public and private key
• Easily  handle Cryptocurrency exchange by users
• Accessible with simple installation with high security
• Transfer funds with no transaction charges
• Inflation does not change the value as it remains the same

Hence not just professionals you need well-trusted and reliable professionals. APPWRK IT Solutions Pvt. Ltd. has been here in this business for over 10+ years and has been providing top Cryptocurrency wallet development services to clients worldwide. Let’s learn more about APPWRK. 

APPWRK, an Experienced Cryptocurrency Wallet Development Company

APPWRK  is a leading Cryptocurrency wallet development company that offers a wide array of best-in-class cryptocurrency wallet development services for processing the virtual exchange. We deliver customizable Cryptocurrency wallet development services with top-notch security features and a user-friendly interface to enhance the client’s Crypto business model. Our experienced professionals deliver the best Crypto wallet app and desktop wallet with enhanced security and efficiency. APPWRK Crypto wallets and bitcoin wallet apps have advanced payment integration solutions that provide flawless transaction facilities.

By using innovative and advanced Cryptocurrency wallet development techniques, our Blockchain developers create a reliable and robust wallet for users to store their private transaction keys and process their transactions securely. Our Cryptocurrency wallet development services help you build a Crypto wallet that allows users to earn, monitor, and transfer their digital currencies.

APPWRK has a highly talented Cryptocurrency development team that is expert in delivering highly robust and scalable solutions. These proficient developers use agile development methodologies and the latest tools to build scalable Crypto wallet apps and software applications based on your business requirements. APPWRK builds user-centric wallets customized to their specific needs. APPWRK believes not only in delivering perfection but also to provide post-delivery support and 24/7 assistance.

Services APPWRK Offers as a Cryptocurrency Wallet Development Company

APPWRK offers goal-driven compatible solutions for your needs. The below-given services are just a glimpse of what you can get here.

Top Reasons to Choose APPWRK for Your Cryptocurrency Wallet Development Needs

• Proficient Team 

APPWRK has an expert team dedicated to delivering top-notch solutions that can match your expectation bar.

• Secure & Reliable Solutions

Our experts prioritize security and privacy to avoid unauthorized users following the ownership of coins. Hence develop a secured code for cryptocurrency wallet development.

• Use of Advanced Technology

We believe in employing advanced technologies and discovering new possibilities every day. Here you will get effective and innovative solutions through up-to-date technology. The programming languages and SDKs that APPWRK developers use for wallet application development are Typescripts, Java or Kotlin, Swift, Flutter, etc.

• Customized Solutions

To meet your specific business needs, you can highly customize your cryptocurrency wallet with APPWRK. 

• Transparency

Keeping clients’ expectations and demands on the top APPWRK team provides complete transparency throughout the development process.

• Fast Response

APPWRK development and designing team will satisfy n number of queries that a client may come up with as soon as possible. 

• Support

APPWRK believes in customer satisfaction and thus provides clients with round-the-clock support.

• Competitive Pricing

APPWRK offers high-quality customized solutions within your budget. The average cost of Cryptocurrency wallet development at APPWRK range from $5,000  to $50,000, based on the features in your Crypto wallet, Crypto wallet app, or bitcoin wallet app.

Key Features Offered by APPWRK For Your Cryptocurrency Wallet

• Two Factor Authentication

To ensure each account’s security, APPWRK provides multi-factor authentication, which makes your wallet highly secured and safe from hackers.

• Multi-Currency Support

Here you have support for bitcoins and popular altcoins. We can customize your wallet and bitcoin wallet app to enhance and scale trading opportunities as per your requirement. Hence prevents you from maintaining multiple separate wallets for all types of cryptocurrency.

• Push Notifications

You will be updated when there is a change in the value of Cryptocurrency. You will also get notifications on your transactions. Users have the right to enable or disable notifications for price alerts, signals, and other market activities.

• QR code scanner

The QR scan enables auto-scanning of the wallet address. Hence, simplify the exchange of Cryptocurrencies and minimizes human errors while copying the wallet address.

• Check Transaction

With the details of past transactions stored in the wallet, users can check their wallet transactions stored in the wallet. It helps users to analyze past transactions.

• Automatic Session Logout

If the wallet is left open for a long time, the session automatically logs out. This feature prevents misuse of the wallet.

• Wallet Backup

This wallet backup feature helps users if their device gets infected by a virus and against cyber theft. With the help of backup, you can save your transaction history.

• Automatic Conversion Rates Update

A Cryptocurrency wallet instantly provides you with the updated value of your digital currencies, thus helping you make the right decision.

• Auto denial of duplicate payments

To avoid the extra charges, your wallet, bitcoin wallet app, or blockchain wallet app will prevent duplicate payments and transactions.

• dApps Supported

With decentralized applications on any Blockchain network, ensure the security of the tokens that passed in the dApp network.

• Quick Coin Conversion

Crypto-day traders can save a lot of transaction fees with this feature. Our multi-currency wallet’s currency conversion rates are low compared to other market providers. Also, we provide the best multi-Cryptocurrency wallets that synchronize well on all platforms let it be mobile, desktop, or web browsers.

• Risk Management

Risk management services such as identifying illicit wallet addresses allow users to detect and avoid the risk of chargebacks.

• Multi-Signature

The multi-signature feature lets users view the transaction details, have unique recovery phrases for each, and authorize a transaction.

• Email Authentication

APPWRK embedded an email authentication system into your wallet. Whenever the user initiates a withdrawal request, he will receive a verification mail along with an authorization request. Hence only when he confirms or approves the transaction occurs. 

Cryptocurrency Wallet Development Processes, APPWRK Follows

The wallet development process, at APPWRK, undergoes several stages to ensure full compliance with the client’s requirements. Being a leading Cryptocurrency wallet development company, APPWRK provides transparency through each phase of your Crypto wallet app and bitcoin wallet app development.

The cryptocurrency wallet phases of development typically go through the following stages:

• Requirement Gathering

After understanding the client’s specific requirements for the project, APPWRK’s development and designing team collaborate and decide the features to be added and the choice of tech stack for your wallet development. 

• Project Blueprint

Based on the information collected in the first phase, our proficient team creates a blueprint and gets confirmation from the client for further suggestions. Only after getting the client’s approval, we proceed further.

• Designing & Development

After curating the final design, the real work of NFT development will begin. Our professional blockchain developers write customized code and execute it as per the designed prototype. Everything is performed in an organized manner, and the product is built with all the advanced features.

• Testing

Now it’s time to test the project. Testing is one of the crucial steps of a Cryptocurrency wallet development. We employ multi-phase rigorous testing and transfer it to the client’s in-house team to check it before its deployment. During this phase, all the bugs and glitches are removed.

• Deployment

After everything is found fine, the wallet is deployed and made available to users. APPWRK developers team deploys it with the best possible standards to drive clients with maximum satisfaction. We also train clients’ staff to use it and be involved in their daily practice.

• Post-Deployment Testing

It is client-side testing; in this phase, any type of bug, if found, will be resolved with full quality assurance without any overheads.

• Post Delivery Support

However, the project is complete, but our work is not limited to delivering the final product.  If you experience any difficulties or downtime after downloading the Crypto wallet app, our support team will resolve it as soon as possible. APPWRK believes in delivering quality-driven digital solutions within your budget, prioritizing your enterprise requirements. 

Conclusion

I hope you have found the guide helpful. Now, it is fair to assume that you got the answers to your questions and that you are ready to invest in your idea. However, you must know that choosing the best Cryptocurrency wallet development company such as APPWRK can not only assure the security of your wallet but, in fact, provides customized solutions to meet your specific business requirements. Make sure the Cryptocurrency wallet development company you select must be transparent throughout the development processes to avoid any long-term issues. Hence, it is advisable to take time, research a bit and then invest in a best-suited Cryptocurrency wallet development company. Start 7 Days Risk-Free Trial (T&C Apply)!

Frequently Asked Questions About Cryptocurrency Wallet Development