An Efficient and Easy Way for Cryptocurrency Wallet Development in Just a Week
In recent years, cryptocurrency is ruling all over the financial business market. Many business owners and investors made enormous amounts of profit by trading the digital currency on crypto exchange platforms. It sparked startups’ and entrepreneurs’ interest in cryptocurrency.
Cryptocurrency made a great impact on the global business markets. So many vendors have started accepting crypto payments. With the worldwide acceptance of cryptocurrencies, the demand for cryptocurrency wallet development is also increasing. In recent surveys, the community says that financial companies can save $12 billion in a year by adopting blockchain. So business magnets started to invest in blockchain wallet or app development by integrating advanced features.
When it comes to cryptocurrency wallet development, businesses are choosing a white label crypto wallet development solution to accelerate deployment. A white label solution is a ready-made solution with a market-ready back-end. Its front-end can be easily customized as per a business needs and the software can be quickly launched into the market under a brand name.
So, if you want to develop your crypto wallet quickly, leveraging the best white label software solution is an ideal option.
Why white label crypto wallet is better?
A white label wallet solution is better due to the following reasons:
- Reduced development cost
- Reduced development time
- Easy scalability
How to develop a white label crypto wallet?
There are three main stages to develop a robust, feature-rich, and highly secure white label crypto wallet development include the following:
- Use of libraries for iOS and Android
Since most digital currencies are open source, you don’t need to reinvent the wheel to develop a crypto wallet; you can use the libraries for the same. Your cryptocurrency wallet development company can help you suggest the best suitable technology for your project.
- Synchronize the cryptocurrency wallet into the blockchain technology using various Application Program Interfaces (APIs)
Using a distributed ledger API will allow you to efficiently sync your crypto wallet with the blockchain ecosystem.
- Integrate bitcoin as the payment option
If you want to give your users the ability to use BTC to make payments, you need to integrate Bitcoin payments into your crypto wallet using special services.
How to make your white label crypto wallet secure?
Currently, the transactions based on blockchain principles are considered the most secure transactions. However, user data and access keys need reliable protection. Here are some additional measures for this:
Two- Factor Authentication
Your crypto wallet should be empowered with a two-factor authentication system. A unique pin-code or biometric data may be used as the second factor.
Continuous Security Updates
Cryptocurrency wallet or app development doesn’t end with the creation part only. You will need to constantly provide your users with additional updates to improve security.
Multi-signature requires more than one user to sign and validate the transactions.
For instance- Suppose there is a secure box that has two locks and two keys. One key is held by (let’s say) Alex and another is held by Asley. The only way to open the box is — if Alex and Asley both provide their keys at the same time. This means that neither Ashley nor Alex can open the box individually, without each other’s consent.
The multisig technology allows users to add an extra layer of security to their funds.
With crypto-assets’ ownership, it’s very imperative to back up your mnemonic seed phrase to restore your funds in case of an emergency. For instance, a device holding a wallet can be broken lost, or stolen and the backup is the only way to retrieve the funds after these mishaps.
The mnemonic phrase makes it easy to recover a wallet. After importing your mnemonic seed phrase into another device where you install your wallet, you can restore your crypto assets, just as it appeared on your previous device.
Blockchain wallet or is gaining rapid traction worldwide. If you are looking for a reliable company to build your crypto wallet, Antier Solutions can help.
We provide a white label crypto wallet solution reinforced with top-notch features like multi-sig support, biometric authentication, two-factor authentication, QR code scanner, automatic session logout, and more. Besides, 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.