5 Features to have in your Crypto Wallet
Are you planning to build a cryptocurrency wallet? If yes, you need to decide upon the features that you want to integrate into your wallet to make it highly secure and user-friendly, especially when these are the two things most users seek in a crypto wallet. Given that crypto wallets store users’ crypto assets, the wallets must be high on security. Furthermore, the ease-of-use enables users to seamlessly send, receive, and store their assets in the wallet.
Thus, whether you are building a crypto wallet from the ground up or opting for a white label crypto wallet solution, fortify your wallet with the right features to provide a great solution to your users.
The following are the features that you can integrate into your crypto wallet for high security and performance.
1. Multi-layer security
Security is paramount to a crypto wallet. Two-factor authentication (also known as 2FA) is one of the security features that you can leverage to add an extra layer of security to your crypto wallet. It helps ensure that users trying to gain access to their wallet accounts are who they say they are. 2FA requires users to provide different pieces of information, including their credentials as the first thing and the second being something they know, such as PIN or password, or something they are, such as biometric authentication, to gain access to their accounts.
In addition to 2FA, the co-signer functionality can enhance the security of a wallet. The co-signer feature requires more than one user to sign a transaction for its execution. Unless all of the co-signers sign the transaction using their digital signatures, the transaction would not execute. It prevents illegitimate transactions.
If you are building a wallet from scratch, make sure to integrate these security features into your wallet. On the contrary, if you have decided to go for a white label crypto wallet, look for a solution that provides you with all of these security features.
2. QR code scanner
A wallet equipped with a QR code scanner enables easy and quick payment processing. It allows your users to seamlessly scan a wallet address and transfer funds. This not only expedites transactions but also eliminates possible errors while manually entering a wallet address.
3. Automatic session logout
If the wallet is left unused for a while, the session should log out automatically. If the user wants to resume using the wallet, the system should require them to log in again. This prevents unauthorized access to a user account and increases security.
4. Coin compatibility
It is in your best interest to make the wallet multi-currency compatible. At the least, it should support the popular coins like Bitcoin, Ether, Ripple, Bitcoin Cash, Litecoin, Stellar, etc. This will enable your users to handle a multitude of currencies from within the wallet. Sure, adding support for various currencies would increase the development cost, but the advantages are just too many.
5. Self-explanatory interface
A pretty good number of users are likely to be using a crypto wallet for the first time. Therefore, ease of use becomes a key feature in this context. A user-friendly interface will enable your users to easily navigate through the wallet, and store and transfer their crypto assets.
At Antier Solutions, we provide customized crypto wallet development services aligned with your business needs. If you want to buy white label crypto wallet, we will provide you with a multi-currency wallet solution reinforced with market-leading features like multisig support, biometric authentication, two-factor authentication, QR code scanner, automatic session logout, and more. In addition, we specialize in building a custom crypto wallet from the ground up.
Schedule a free demo of our white label crypto wallet or connect with our subject matter experts to share your needs for a custom wallet.