True Reasons Why Startups Are Interested In Crypto Wallet Development

 Distributed ledger technology has been extending its use cases across various industries. One of its by-products, ‘cryptocurrency,’ has been evolving as a non-avoidable technology for over a decade. This is why many budding enterprises and entrepreneurs are investing in crypto-related businesses. Before knowing much about this, you have to know about crypto wallets. Moreover, blockchain wallet development services do have a high demand nowadays, especially within a business ecosystem. So, let us get into it!


What Do The Stats Say?

Recent studies have shown that the active user base of various crypto wallets is approximately 42 Million. Well, the numbers are still increasing!


This proves why new enterprises are choosing this domain. Obviously, they want to take advantage of the massive user base and deploy their crypto wallet app. If you are one of those startups that are interested in building their own crypto wallet, this blog will guide you through it!


Overview Of A Crypto Wallet App

Simply, a crypto wallet app is a digital platform that stores digital keys, allowing users to access (send and receive) crypto assets seamlessly. These apps are similar to regular mobile apps. Thus, it is easier for users to operate them. Additionally, they help to manage crypto assets and protect them from malicious hackers. 


Now, how much will it cost to develop a crypto wallet?

Factors such as the wallet type, features integrated, development method used, and others will determine the cost of the crypto wallet development. 


For example, if you want to develop a centralized wallet, you might want to add more security features. On the other hand, if you want to create a decentralized wallet, you have to focus on designing an intuitive interface to avoid network congestion.  


Secondly, there are two ways to develop a crypto wallet. One is by developing it from the grass-root level and another is by using a white-label solution. This will also impact your development cost. 


ROI Features Impacting The Crypto Wallet Creation Cost

We are focusing on this part because the wallet creation cost highly depends on the ROI features added to the wallet. If many features get added to the wallet, the resultant developing costs will be high. We have listed some of those highlighting features below.


Staking

The most important reason to have a staking feature is to assure wallet security. Using staking, wallet users can earn considerable rewards in exchange for their contribution to the network. At the same time, their funds will get used in other areas like ICO and more. 


Token Swapping

With the token swapping feature, users can swap native tokens with any other token they prefer. However, you can charge a small fee for allowing users to perform swapping. Thus, you can create a revenue-yielding branch here. 


Crypto Withdrawl

The crypto wallet must have a smooth entry and exit, especially while withdrawing funds. You can charge withdrawal fees for this. 


Above all, integrating these features into a crypto wallet is not easy. It requires technical expertise which a professional cryptocurrency wallet development company will give. An expert will analyze your needs and customize the wallet exclusively for your target market. contact us :

Comments

Post a Comment

Popular posts from this blog

The Importance of Analysing Cryptocurrency Trends & How To Do It Better

Image
  Crypto trading is becoming more common nowadays and cryptocurrencies are evolving as a key for global financial transactions. Since the arrival of Bitcoin, the growth of cryptocurrencies has surged and attained a peak in the market. So, a lot of new traders are giving huge attention to crypto trading and earning high returns.   To succeed in crypto trading, traders should spend much time analyzing the market, reading the charts, learning how to predict cryptocurrency trends, and driving their own trading strategies to execute profitable trading.   Let’s explore how cryptocurrency predictions tool are made to analyze the market and perform profitable trading.   First, understand the current crypto market.   We know that cryptocurrencies are digital assets that revive financial transactions with enhanced security, improved privacy, and decentralized control. In contrast to the stock market, the crypto market operates 24/7. The prices change fro...
Read more

How To Calculate The Right Price For Your NFTs?

Image
  A Pic Of A Monkey Is Selling For Millions Of Dollars! How To Determine The Worth Of Your NFTs? Non-fungible tokens, or NFTs, are in great demand and frequently come up in discussions about cryptocurrencies. People need NFTs to monetize their work and prove their ownership. As NFT usage increased over time, businesses stepped up to launch marketplaces through the NFT marketplace development service .   How Is NFT Valued? The value of NFT cannot be determined using a handbook. NFTs are not subject to the same evaluation criteria as private businesses or more conventional investment instruments like equities. Instead, several elements can aid in determining the "Value of an NFT."   Extremely Rare And Irreplaceable Famous celebrity illustrators' original works can serve as good instances of rare NFTs. Some unique gaming objects can also be successful in this category. These NFTs have a lot of inherent value due to their rarity. An irrevocable proof of ownership offers the b...
Read more

Everything You Need To Know About Crypto Trading Signals

Image
Wrong decisions or improper trading plans lead to losses in crypto trading unless a trader uses crypto trading signals. Many experts believe that these are the ultimate medium to maximize profits in trading. Signals are usually generated from machine learning algorithms and manual predictions. Depending on the provider, the signals may be available as free or paid. Generating Crypto Trading Signals  As said earlier, crypto trading signals are generated through AI & Machine Learning algorithms and through predictions by expert traders & research analysts. Signals basically fall into two categories Automatic Manual Automatic Signals are sent to crypto traders with the help of AI algorithms and strategically-designed bots. The bots perform historical analysis on crypto and find the best future outcome with excellent accuracy. The bots eliminate an element called emotion and hence the results are always good. Manual Signals are based on the analysis done by professional trader...
Read more