A Guide to Cryptocurrency Wallet App development
With cryptocurrency markets experiencing a sudden growth in the last couple of days, it would not be incorrect to say that cryptocurrency trading is back in business with traders making profits manifold on their investments.
One of the fundamental aspects of cryptocurrency trading is to own a cryptocurrency wallet that records transactions regarding exchange of cryptocurrencies, manages your cryptocurrency portfolio, maintains cryptocurrency balance etc. In one of our previous blogs on Cryptocurrency wallets, we learnt what a cryptocurrency wallet is, how it works and also its various types like the mobile wallet, desktop wallet, hardware wallet etc. If you are into cryptocurrency exchange and trading, it is imperative that you have a cryptocurrency wallet which stores data regarding your digital exchange and your digital earnings.
Since Blockchain is the underlying technology of cryptocurrency, naturally cryptocurrency wallets extend all benefits that Blockchain offers like decentralization, robust encryption techniques & the highest level of security, since they are tamper-proof & immutable.
What is the need for Cryptocurrency wallet app development ?
Post the humongous success of Bitcoin & Ethereum, who were the pioneers of the cryptocurrency & Blockchain revolution, the number of people investing in the cryptocurrency markets, for its ease of money exchange without any intermediaries, is constantly increasing. Infact, there are new cryptocurrencies emerging in the market at a steady pace. Most of the cryptocurrencies like Bitcoin or Ethereum provide their own cryptocurrency wallet but for a trader who wishes to invest in multiple cryptocurrencies, integrating them with the cryptocurrency wallet is a must. There are several cryptocurrency wallets that are compatible with multiple cryptocurrencies as well. Quite certainly, it is easy to integrate and use these readily available cryptocurrency wallets for simple tasks, but it is also possible to have your own Cryptocurrency wallet app development done for implementing more complex business logic or functionality.
Mobile cryptocurrency wallet is the most broadly used blockchain wallet. By downloading an application on your mobile device, the app can be accessed anywhere, even in physical stores. They spare a great deal of time and are a lot smaller and less difficult compared to other wallets. Hence, there is a frequent need of Cryptocurrency wallet app development for mobile phones.
Hire a cryptocurrency wallet developer to build a cryptocurrency wallet or a cryptocurrency wallet development company like Blockchain Simplified can help you with Cryptocurrency wallet app development.
Pre-requisites of Cryptocurrency wallet app development
The process of cryptocurrency wallet app development is not simple. A basic cryptocurrency wallet needs to possess enhanced functionality coupled with detailed business logic requirements. Let us go through some of the elementary & vital features that Cryptocurrency wallet app development should hold.
-The most basic but very important part of the Cryptocurrency wallet app development is User Authorization. Only authentic & genuine users can access the Cryptocurrency wallet app. This can be achieved by enforcing 2-factor authentication methods. Authorized users should be able to view cryptocurrency balance any time.
-To build a cryptocurrency wallet app, it is essential that the wallet supports multiple currencies.
-As part of the Cryptocurrency wallet app development, the wallet needs to distinguish & recognize multiple addresses using a QR Code Scanner. The wallet should be built to process send/receive transactions via different addresses.
-While building a Cryptocurrency wallet it is essential to build a functionality for Push Notifications. User should always be alerted and notified of transactions.
-A Cryptocurrency wallet app development is incomplete if the wallet is unable to dynamically calculate transaction fees based on ever changing conversion rates.
-Alongwith with the available balance, a cryptocurrency wallet should be programmed to depict the entire transaction history. Completed transactions should be transmitted to the entire Blockchain network.
-Another very important feature that Cryptocurrency wallet app development is incomplete without is integration with a payment gateway.
Here’s an article which explains the features that are a must for a good Cryptocurrency wallet app development.
(Blockchain Simplified, a top Blockchain development company in Pune,India is working on all cryptocurrency wallet app developments. Please contact https://blockchainsimplified.com for cryptocurrency wallet app developments.)
Technologies used for Cryptocurrency wallet app development
As we read, a mobile cryptocurrency wallet app is the most widely used. Libraries for cryptocurrency wallet app development are readily available. React Native, Flutter are cross platform mobile frameworks that enable Cryptocurrency wallet app development for both iOS and Android phones.
About Blockchain Simplified
Blockchain Simplified is a Top blockchain development company in Pune - India which works on all major Blockchain requirements. We specialise in Blockchain, Web and Mobile development (One Stop Shop for all technology development needs).
Our clientele includes Multiple Funded Start - Ups, SMBs and few MNCs few of which are NASDAQ and NSE listed.
Some of our work includes,
Blockchain based-
hubrisone.com - is a Live app with 100,000+ downloads, All-in-One Cryptocurrency current account. The entire development from scratch carried out by Blockchain Simplified.
All in one Platform - Complete responsibility of entire software development of the platform ,for a $1m funded blockchain start up, led by a team of serial entrepreneurs and tech veterans in Silicon Valley.
Well funded Blockchain startup - Blockchain Simplified helped a $6m funded American Blockchain startup to build the first blockchain protocol to leverage on-chain smart contracts to manage distributed storage of application data off-chain.
Multinational Bank - The company helped one of the top 3 ranking Multinational Banks to integrate various cryptocurrencies into their banking application.
and more…
Non-Blockchain-
SHC - Built entire platform and app from scratch for a $1m funded startup led by a team of Americans including PhD degree holders.
VMW - Developed app for a multi-national company providing mass factory-to-factory shipment services. App is being used by 53 of the Fortune 500 companies such as John Deere, Coca-Cola, Nissan.
and more…
Expertise
Blockchain Development : Bitcoin, Ethereum, Hyperledger, Corda, and more.
Mobile App Development : Android Native, iOS Native, React Native, Flutter, Xamarin.
UI/UX Design : Strategy, Planning, UI/UX Design, Wireframing, Visual Designs.
Web App Development : Node.JS, Angular, React.JS, PHP.
Backend Development : MongoDB, MySQL, AWS, Firebase.
Visit our official website https://blockchainsimplified.com/ for more information.