We live in the 21st century, where everything is digital and in our hands. Right? From booking movie tickets to a fancy dinner date, everything is just one touch away. Now, imagine how comforting it is to move cashless. Seems great, no?
However, people are already moving cashless by using digital wallet apps. However, to enhance their experience and move a step ahead, Bitcoin is the best option where users experience real-life virtual money.
According to Statista, the Bitcoin market cap reached over $1000 billion in April 2021, and in June, it surpassed nearly $600 billion. Seeing the ever-increasing demand and popularity of Bitcoin, businesses are looking to develop a Bitcoin wallet app from a renowned and well-versed app developing company to embrace its benefits.
Do you want to know what steps are there for the Bitcoin wallet app development? If yes, read this blog till the end, where I have explained how to make a bitcoin wallet app.
But, before moving onto the steps of digital wallet app development, let’s start with its basics.
So, let’s have a look!
What Is a Bitcoin Wallet App?
A bitcoin wallet is a software application that stores Bitcoins. It is one of the most popular cryptocurrencies in the whole wide world. Moreover, Bitcoin does not have any bank or a government organization.
Therefore, Bitcoin is not physically present in a person’s pocket, and balances are written on a public ledger that gives transparent access to everyone.
In other words, the Bitcoin wallet is a digital wallet that has a secret number (or a password) that is only known to the user who has access to the transaction process.
Types of Bitcoin Wallets:
- Desktop
- Mobile
- Web
- Hardware
3 Popular Software Libraries That Can Help You Create Bitcoin Wallet API
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Blockchain Bitcoin Wallet
One of the best software libraries to build a Bitcoin wallet app is to use blockchain wallet API as it has A1 documentation that completes the development process quickly.
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Coinbase SDK
Coinbase software development kit is a cross-platform Java library used for Python and Ruby. It does Android and iOS platform development. Moreover, it has an easy transaction management capability that promotes crypto payments.
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BitcoinJ SDK
Last (but not least) SDK is BitcoinJ that lets you build your wallet app even by using different JVM languages like C++, Ruby, JavaScript, and Python.
How to Build a Successful Bitcoin Wallet App? 6 Things to Consider
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Understand the Blockchain and Bitcoin World
Do you know how to create a bitcoin wallet app? Comprehend every single detail of blockchain and Bitcoin closely.
In a blockchain, blocks are denoted as a digital transaction (or information), and chains, on the other hand, are cryptographic systems that connect the blocks. The information available in the blockchain is changeless and has a unique hash.
Therefore, every computer that runs a blockchain has a similar list of blocks (and transactions). As a result, all these blocks are filled with brand-new Bitcoin transactions.
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Analyze Your Competitors
How to build a Bitcoin wallet app that will look different (and unique) from your competitors? Well, for that, you must analyze your competitors thoroughly. Keep an eye on everything, what they do, their progress, strategies, etc.
Once you know about your competitors, it becomes easy to stand out in the market and stay ahead of them by designing a unique Bitcoin wallet app with distinctive features that your competitors have missed.
Also, you can comprehend the knowledge for developing effective marketing strategies for your Bitcoin app and can take advantage of your competitor’s lack of areas and improvise your app performance.
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Reasons for Building a Bitcoin Wallet App
Once you are done analyzing your competitors and understanding the world of blockchain and Bitcoin, find out why developing a Bitcoin wallet app is imperative.
The foremost thing is that it attracts new customers, and people are already moving their ways to cryptocurrencies. Also, there will be more tech-savvy users, so it is better if you adopt the Bitcoin wallet app ASAP.
- Another plus point of developing Bitcoin is safer payment options. Yes, it has a secure and transparent payment network that reduces the risk of fraud.
- Another powerful reason for building a Bitcoin wallet app is to make instant international payments. Consequently, blockchain has a transparent (and secure) network that sends and receives money easily and quickly.
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Must-Have Features to Include
If you still want to know how to build a successful Bitcoin wallet app, focus on the imperative features you must include in the app. So, let’s find out the pivotal features.
- Authorization
- Personal profile
- Security
- Push notifications
- QR code scanner
- Trading and exchanges features
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Focus on Technology Stack
After adding the crucial features to the app, it’s time to focus on the required technology stack.
The technology you choose will either make your app or break it, so make the decision wisely. For that matter, you can even consult a strategist and take their advice. Moreover, pick what suits you the most. Angular JS 4.0, HTML5, and CSS3 are used for building the frontend. Whereas the backend is developed using Node JS, and AWS sets up the server.
For Android apps, use Java for developing the frontend and Node JS/Python for the backend. For iOS, on the other hand, use Swift for both frontend and backend by using Node JS/Python again.
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Steps to Secure Your App
You can’t simply forget about security while asking how to make a bitcoin wallet app. Why? Because everyone (including you) knows how crucial security is.
The safety of the Bitcoin wallet app depends on various factors such as wallet type, security features, and more. No user wants his confidential information to get leaked.
Therefore, use 2-step authorization, maintain the wallet backup, and practice continuous security updates to eliminate the risk of fraud.
Key Takeaways:
So, this was it. The above-mentioned were some of the tried and tested steps you can adopt for a successful wallet app development.
I have covered all the crucial steps that you shouldn’t ignore, and on that note, I hope I have answered the most asked question – how to create a bitcoin wallet app.
If you are satisfied with the answer, go and follow these steps right away and own your Bitcoin wallet app today.
All the best!
