People always search for an opportunity to keep their money safe, and what’s even better is to grow their savings. Cryptocurrencies seem to be the field where the laws of the economy work differently, and the wind of inflation doesn’t steal the banknotes. That’s why more and more users try to find a quiet harbor using non-trivial assets.
And if you think of an idea to create crypto wallet, it looks like catching an uprising trend. Though the market can offer a range of solutions, there’s a space for more interesting, inventive, and customizable products.
Because we live in this day and age, you can’t start anything without considering social media. Make sure to promote your wallet on one or more social media platforms. You don’t have to do it constantly, but a strong boost once in a while, a viral post or a video will do wonders.
Why an idea to build a crypto wallet seems profitable
If there were registered about 2 million crypto wallet downloads in December 2020, in December 2022 there were more than 8 million downloads. The statistics say that there’s a growing curiosity and interest in society to new tools for money keeping. Some countries have legalized cryptocurrencies for selling and buying goods and services, and this fact is also heating interest in nonstandard tools for payments or investing.
That’s why if you’re planning to construct your own solution, the light is green.
Are there any signs that the market is “thirsty” for innovative solutions?
When Bitcoin demonstrates growth, cryptocurrency exchange platforms register skyrocketing downloads of the tools that give users the bridge into the world of innovative assets. In one month the number of crypto wallet users can increase two-three times.
A crypto wallet is a special program or an app that equips users with the possibility to keep, purchase or sell their digital assets. There’s a misconception that they keep riches in their wallets. Their invisible treasures are kept in the blockchain like money is laying in a bank account. As for a crypto wallet, it works as a bank card: there’s no money in your card, but you can manipulate the budget. Any crypto wallet is composed of a public key that is available for others and works like your address in the blockchain. And a secret combination of symbols known as a private key that serves as a pin code for your bank card. If your experience and imagination whispered to you the receipt of a nice, good-looking, fast-working, comfortable, and very safe app, you’ll definitely find followers in the market.
Which applications for cryptocurrencies are trendy?
Such a profitable business niche can’t stay empty. Let’s observe which products are now in demand among amateur cryptocurrency investors and other users.
Exodus inspires cryptocurrency traders with an impressive stylish design: dark mode with bright colorful elements. This celebratory atmosphere is paired with a multivariance of customizable tools that turns Exodus to be a recognized helper for the owners of about 150 cryptocurrency assets. It refers to cold alternatives of a crypto wallet: a secret cipher in an encrypted format is kept on the smartphone or PC.
Trust Wallet gained a reputation as a reliable tool honed specifically for juggling assets in the Ethereum blockchain: it provides trading in ERC20 и ERC721, BEP2. Today its shtick is multicurrency and access to Dapps. Produced by a famous cryptocurrency trading platform Binance, the app offers users services of compatible quality. This hot mobile crypto wallet can work on iOS as well as android devices. Trust Wallet opens gates to users into the diversity of 53 types of blockchains.
MetaMask is specifically tailored for manipulating assets in the Ethereum blockchain. This crypto wallet empowers users to make transactions with the tokens of the ERC-20/ ERC-721 standard. People value this solution for excellent “mutual comprehension” with the most reliable cold wallets.
Which functionality is essential for a crypto wallet
When you start projecting a user-oriented crypto wallet, make research on the most in-demand features and put them into the list.
Think of how to polish them or change them in order to exceed users’ expectations.
Secure access and avoid vulnerabilities
Take care of protecting the product against undesirable visitors. Apart from the public key, it should include a private one. Make sure that it can be reliably encrypted and kept in a secure place. Offer additional tools for boosting security like follows: two-step authorization, face ID, reliable paroles, and sms-codes.
The range of supported cryptocurrencies
Multi-currency solutions are on the cutting edge of the industry, as a consequence, there’s no use to focus your efforts on a single blockchain project. People prefer to enjoy a variety of offers, diversifying their assets with various types of non-fungible tokens and “hiding” them into a safe place.
Trading tools for cryptocurrency owners
People make a profit not only by staking cryptocurrencies, but via sales and purchases of them. Try to add really user-friendly trading facilities, making owners of digital assets happy with the app.
Integrations for transactions
Since the user can try to transfer his cryptocurrency to his partner, relatives or sellers, the app should be supplied with opportunities to make transactions between various wallets.
QR codes
This feature is supposed to fasten navigation in the service letting you send or receive transactions, confirm different actions and manipulations or identify the user.
Sustainable updating of conversion rates
Making it more transparent and definite, keeping a finger on the pulse of actual rates helps users to change their tokens with the most attractive courses of assets.
Push notifications
Warning users about any changes in their accounts, and push notifications to enable users to keep their assets safe and take necessary actions on time.
We listed the minimum required functionality to let your project come true. No doubt, you can add any other features that can spice up the solution and make it really unique. But if you have a limited budget, it’s important to start a business with an MVP. That’s the way to decrease initial investment, but check the viability of your project idea.
How looks the route of crypto wallet building. And don’t forget to find connections through the social media platforms like LinkedIn and Twitter (perfect platforms to utilize for more tech and digital business focused people).
In a nutshell, the process of inventing your own solutions looks like that.
- Define what unique you are going to offer users and describe its core functionality.
- Select an appropriate contractor and order to perform a clickable prototype. This is a graphic visualization of your product with workable buttons, sliders, etc. At this step, you can intrigue an investor with your innovations, demonstrate it and get financial support.
- Transform a prototype into a fully working product. All features are honed to perform their tasks in a simple and effective way, and the user can solve his tasks guided by his intuition.
Though it looks like an incredible adventure, each enterprise starts with meticulously tailored plans. And if you know how to make users happy with their tools for managing non-fungible tokens and other assets, you can try to discuss your plans with a professional IT team. A fresh look at your idea can bring you useful insights and a clear vision of the path leading to purpose.
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