Without a doubt, the market for cryptocurrency have grown remarkable in the past few years. People trading in crypto are making heap amounts of benefits on their investments – which makes it perfect time for a mobile app development company to invest in a crypto-wallet. Developing a crypto wallet requires much more than a strong programming understanding – it requires a proper strategy and an insight into the crypto market. Hence, here we are with this guide below that covers everything that you need to know about getting started with the development of a crypto wallet.
When leaping forward to get a crypto wallet, you need to have a basic know how of what Block Chain technology is. Throughout the crypto wallet app development, this is the technology that you would be prevailing through! For people who aren’t familiar with blockchain technology, here is a little overview for them. Block chain is among those promising technology that is used to make digital currency work seamlessly. Not only this, it also ensures that your digital currency remain safe and sound at all times – one of the reason why every mobile app development company USA is making most of this technology.
As the name of the technology suggests, blockchain is a technology that comes in handy with blocks of enriched with digital information. The chain is the cryptographic fundamental principle that is utilized to connect the data blocks. The entire purpose of this technology is to allow users to trade digital money or confidential information in an easy, yet a secure way!
The best thing about cryptocurrency is that many of them are usually open source. Due to which, there is no need for a mobile app development company to reinvent the wheel. A developer can utilize the free crypto libraries and tools that can easily be found on platforms like Bitcoin SDK or Coinbase SDK.
On the odds that you are a developer who is seeking for a crypto functionality to develop a crypto wallet on both Android and iOS platforms, then Coinbase SDK might work perfectly well for you. It is a cross-platform Java library that supports many popular languages like Python, Java, Ruby, etc. So, developing a viable crypto wallet won’t be an issue for any developer. On the other hand, BitcoinJ SDK is an easy-to-understand platform that comes enriched with detailed documentation. Choose the open-source libraries as per your requirements and get started with developing a digital wallet instantly
Utilizing the power of APIs is a renowned way to get a feature-rich cryptocurrency wallet app. Using a distributed ledger API allows you to synchronize the developed crypto wallets with the blockchain ecosystem with easily. The most popular set of APIs that a developer can utilize to his benefit are: Coinbase, Bitcore, Simple Base and Factom. Using the APIs, a custom mobile application development company can wind up with the making of the crypto wallet within a short period. While speeding up the development process, APIs ensure that the development takes place in the right manner!
Witnessing the world go digital, every mobile app development company Los Angeles should take vital considerations about integrating a cloud-based storage with the crypto-wallet. Having said that, this is the step where you need to choose the right cloud platform for your crypto wallet application. If you are new and aren’t familiar with any platform, then for your assistance, we have the right pick for you.
Go with PaaS, if your crypto wallet idea is based entirely over web application development.
However, for a crypto-based wallet, the expert prefers to go for Blockchain as a service (BaaS) and integrate their cloud service into your crypto wallet app. BaaS services are offered by tech giants like Amazon and Microsoft. Hence, integrating it with your app would give you the leverage of having a safe, secure yet an efficient crypto wallet app.
The success of your crypto wallet app solely depends on the technology stack you use. The right technology stack would be a complete package of the libraries and functionalities that might be helpful for you in the development of your crypto wallet.
For instance, that you are developing a crypto wallet for a web based application, then the right technology stack for you would be none other than Node.js or Angular.Js.
Using the right technology stack would surely help you create a scalable crypto web application. Lastly, as the experts suggest, use Java or Kotlin for a native android app development. And for iOS, yu can use Swift or Objective-C.
The whole idea of a cryptocurrency wallet is to provide your customers with a secure medium to store their digital currency. Hence, its vital for you to make sure that the wallet you are developing is highly secure and safe. Consider adding extra security layers to the crypto wallet app. These layers can easily be added with 2FA — fingerprint, face ID, or further hardware authentication can be used to.
Lastly, its necessary for a mobile app development company to lookout for the security updates. Ask the developers to keep finding out the bugs in the wallet and rectify them immediately for effective results!
Just like every other business, you need to check out your competitors here too. As you won’t be the first one to come up with a crypto wallet application, While looking out for the competitors, the thing that you really need to see is the technologies they have integrated in their crypto wallet. After that, it is preferred to have a detailed analyzation of how their app is working.
See if you can find out any unique feature, they have used that you haven’t, so you could use that to your advantage. Certain times, it’s been noticed that when you check out your competitors, you end up with an inspiration that leads you to have a well-developed crypto wallet. Remember, you would need to avail the app marketing solutions to grab the attention of the visitors. And visitors would only get on with your digital wallet, when they would feel like it’s worth it!
Conclusion
Development of a crypto wallet needs a proper planning and an insight tip and tricks to develop a profound application. The above information covers everything that you need to know about developing crypto wallet. Comply by it to develop an outstanding application.