Crypto wallet development explanations
A crypto wallet is a reliable tool for managing and storing crypto assets.
What is a crypto wallet?
A crypto wallet is a versatile service or application that enables users to store, buy, sell, send, and receive digital assets, while also keeping track of transaction history.
It acts as an interface to access cryptocurrency stored on the blockchain network. Crypto wallets typically come in the form of smartphone or desktop apps, browser extensions, or even physical devices, providing users with convenient and secure management of their digital assets.
Wallet features are:
- Authorization of the user (two-factor authentication)
- Buying and selling cryptocurrencies
- Unique key access
- Multiple cryptocurrency support
- Transaction options
- Convert fiat to cryptocurrency
- Multiple cryptocurrency accounts
- Payment gateway
- QR code scanner
What types of wallets are there?
There are several types of wallets, depending on the following factors:
By format
- Hot wallets (software) include web, desktop, and mobile applications.
- Cold wallets (hardware) are physical devices that can be connected to a PC.
By governance
- Custodial services (e.g., cryptocurrency exchanges) store public and private keys on the company’s servers.
- Non-custodial wallets allow users to store keys on their own devices.
By the device
- Desktop wallets
- Mobile wallets
- Web wallets
- Hardware wallets
What is the best crypto wallet to choose?
The best choice for developing a crypto wallet depends on your project requirements, budget and technical expertise.
If you need a highly secure and customisable solution with complete control over users’ keys, a non-custodial wallet may be the better choice.
On the other hand, if you need an easy-to-use and accessible wallet with a quick development turnaround, a custodial wallet may be a more practical option.
Consider your target audience, security requirements and long-term scalability when making decisions.
The advantages of crypto wallets
- Security
Crypto wallets provide secure storage for digital assets, protecting them from potential hacks and unauthorized access.
- Easy Transactions
Sending and receiving cryptocurrencies becomes convenient and straightforward with crypto wallets, requiring only a few clicks or scans.
- Private Key Control
Non-custodial wallets give users full control of their private keys, ensuring ownership and autonomy over their funds.
- Compatibility
Crypto wallets support a wide range of cryptocurrencies, enabling users to manage multiple digital assets in one place.
- Backup and Recovery
Most crypto wallets offer backup and recovery options, ensuring that users can restore their funds in case of lost devices or passwords.
- Decentralization
Using non-custodial wallets contributes to the decentralization of the crypto ecosystem, aligning with the core principles of blockchain technology.
But to take full advantage of all these benefits, it’s important to find an experienced development team that will ensure a secure and highly efficient crypto wallet.
Why trust us?
With over 7 years of experience in the blockchain market, Crypton Studio excels in both custom and product development. Our track record includes the successful implementation of numerous web3 projects for clients from different countries and industries.
Our core expertise is in developing non-custodial wallets. We have implemented a large number of successful projects on mobile crypto wallets and desktop applications.
Explore our portfolio to see our capabilities. To find out more about our projects, contact us today.
How we develop crypto wallets: step-by-step
1. Initial assessment: Gathering project information and outlining the course of action
2. Discovery/architecture phase: Designing an optimal solution architecture and creating a detailed development roadmap
3. UX/UI design: Developing wireframes and mockups with optimal performance and visually engaging interfaces.
4. Backend and frontend development: We start working on backend and frontend, integrating solutions and algorithms based on ready-made libraries, adding and enhancing functionality.
5. Testing: Conducting rigorous testing to ensure a bug-free solution
6. Deployment: Getting the product ready to go live
Roadmap: how to order project from Crypton Studio
- Contact our manager via the form on the website.
- We will schedule a call where we will gather your project requirements, study your needs.
- Then you will receive a borders and scope document, estimate of cost and timeframe.
- Once agreed, we will sign the contract.
Our company employs various development approaches, but two are of paramount importance:
- Full development cycle, where we take responsibility for all stages of the project.
- R&D-only, the initial stage of the complete development cycle, focusing on detailed requirement analysis.The primary result of this stage is the formation of the Software Requirements Specification, encompassing all necessary development requirements and aligning them with the client’s expectations.
What happens after the contract is signed?
- After developing detailed requirements, we provide a refined project estimation (Re-Estimation).
- We assemble a dedicated team for your project, consisting of a Project Manager, Business Analyst, Designer, QA Engineer, and Development Team.
- We apply the Scrum methodology, which allows us to complete the work on time and with high quality.
- Regular meetings and progress updates keep you informed about the development process.
- As we near project completion, we conduct comprehensive testing to ensure the functionality, performance, and security of the solution.
- Once all the testing is complete and you’re satisfied with the final product, we move forward with the project launch.
Our technical stack
- Programming languages — NodeJS, JavaScript, Solidity
- User Interface — Web
- DBMS — PostgreSQL
- Frameworks — Hapi.js, Web3, Vue(+Nuxt)
Our projects and solutions
- Our team created the centralized wallet with a basic control element in the form of a native token and the implementation of the payment gateway functionality. It enables users to store and manage their cryptocurrency securely as well as do fasten transactions with low fees.
Programming languages — NodeJS, JavaScript
User Interface — Web
DBMS — PostgreSQL
Frameworks — Hapi.js, Web3, Vue(+Nuxt)
- We developed a multichain wallet. For this purpose we added a Hop protocol integration and cross-chain streaming. We build diamond contracts and upgrade Zapper integration. Our team also added a home page (ADM) and setup sentry on AirdropMe. We did testing and fixing the release.
Programming languages — Solidity, ts, js
Want to know more about our projects of crypto wallet development? Write to us.
FAQ
How long does it take to create a crypto wallet?
The time required to create a crypto wallet can vary depending on several factors, such as the complexity of the wallet, the features and functionalities to be implemented, and the technology stack used.
In general, creating a simple crypto wallet can take a few weeks, while more complex wallets with advanced features may take several months to develop. With a reliable and trusted development team, it is easy to plan the development schedule carefully to ensure a successful and efficient development process. In Crypton Studio we apply the Scrum methodology, which allows us to complete the work on time and with high quality.
How much does it cost?
The cost of developing a crypto wallet can vary based on factors like complexity, features, technology stack, and development team’s experience.
What types of crypto wallets are there?
There are several types of wallets: hot or cold wallets, custodial and non-custodial wallets. They also can be as desktop or mobile applications, web or hardware.
What features does the crypto wallet provide?
Crypto wallets provide various features to securely store, manage, and transact cryptocurrencies. Common features include public and private keys, wallet addresses, asset support, security measures, backup and recovery options, transaction history, user-friendly interfaces, QR code support, multi-currency support.
How do I ensure that a crypto wallet is secure and stable?
To ensure a secure and stable crypto wallet, trust to an experienced development team. In Crypton Studio we provide such security measures like:
— Code Review: Thoroughly review and fix code vulnerabilities
— QA Testing: to find and fix potential weakness
— Strong Encryption: Protect private keys with robust encryption
— Multi-factor Authentication: Add an extra layer of security
— Regular Updates: Keep the wallet up-to-date with patches
How can I order a project from Crypton Studio?
To begin our collaborative journey, simply reach out to us through the convenient form on our website. We will arrange a meeting where our Sales Manager will gather key requirements for your project, taking into account all your needs.The outcomes of these discussions will be:
A document outlining the scope and boundaries of the project (Border and Scope) to clearly define its parameters.A preliminary estimation of costs and timelines (Preliminary Estimation) to understand the anticipated expenses and timeframes. Once we reach an agreement, we will proceed to sign the contract. Our company employs various development approaches, but two are of paramount importance:
— Full development cycle, where we take responsibility for all stages of the project.
— R&D-only, the initial stage of the complete development cycle, focusing on detailed requirement analysis.
Can I hire individual developers in my team to work under my supervision?
Yes, we can provide you with a separate smart contract developer, or a team of specialists for the duration of your project. Find out more about our outstaffing services. We also recommend downloading our free app to find developers for blockchain projects. You can find suitable specialists in our database already today.
Install it from Google Play or App Store.
