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How to Make a Wallet Development App?
If you are wondering how to make a crypto wallet, then few libraries provide you with standard functionality for transactions and synchronization. If you don't know how to use the libraries, then many businesses specialize in wallet development.
This is a user generated content for MyStory, a YourStory initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the author and not of YourStory.
Cryptocurrency wallet development is a software functionality that allows users to monitor, transfer, and earn virtual currencies. It is different from existing banks and pocket wallets that store real currencies. Cryptocurrencies are only recorded as transactions on the blockchain technology. When a cryptocurrency is transferred to the wallet, it indicates that the ownership of the currency is transferred to the dedicated wallet's address. Nowadays, mobile wallet development is in high demand. PayTM, PayPal, Apple's wallet, and Amazon Pay are few of these popular e-wallet applications.
The mobile wallet development company eases the transaction of money as users can recharge, pay bills, and even shop online through wallet development. The ease of transactions has made many online business owners customize a wallet application for their business. For example, Starbucks - there was a 30 percent increase in transactions after Starbucks launched its online app for payment. So, if you want your application to be successful and easily accessible to your customers, then you should go for mobile wallet application development.
Steps to Develop Blockchain Wallet Development App
Plan
Developing an app requires your investment regarding time, cost, and effort. So, it is crucial to research the market, target customers, and the cryptocurrency wallet development company. Here are two main points that you should ask the app development company.
- What kind of methods of charging used by development companies?
- The difference between cost if you choose iOS mobile app development or Android mobile app development?
Develop
There are three different types of application, and you should research on which kind of application is perfect for you.
A Retail Application
Amazon is the best example for a retail application as it allows all types of payment including net banking. Such applications include all basic functionalities and additionally has reward points and coupons that can be redeemed.
A Dedicated Payment Application
It allows P2P money transfers by storing an array of cards online. PayPal, Apple Pay, and Samsung Pay are examples of this application. These even allow you to pay internationally.
Point of Sale (PoS) Payments
PoS payment wallet applications allow users to make contactless payment without standing in queues. Such applications are quite famous in the USA and are found at the storefronts.
Features of Mobile Cryptocurrency Wallet
Some of the standard multi-cryptocurrency wallets are as under:
- Security
- Merchant services
- Conversion rates
- Two-factor authentication
- Paper wallet development
- Auto denial of duplicate payments
- Most used address accessible to all user address
- QR code scanner
- Push notifications
- Favorable session logout
Develop Your Own Cryptowallet
If you are wondering how to make a crypto wallet, then few libraries provide you with standard functionality for transactions and synchronization. If you don't know how to use the libraries, then many businesses specialize in creating the wallet. CodeZeros, for instance, is a blockchain consultancy that specializes in crypto wallet development as per your requirement.