By now you’ve surely heard about the cryptocurrency concept, and you may question whether you should use it or not. It’s a concept that has grown in popularity over the years and has gained value in the public’s perception and use.
You must have heard about Bitcoin and Ether. Well, these are cryptocurrencies that use blockchain technology.
What is cryptocurrency
Cryptocurrency is a subsection of digital currency that is built to operate as an exchange mechanism to proceed the secure online transactions by using cryptography. Bitcoin is the world’s first decentralized record currency. With excellent feedback from communities around the world, it has witnessed a major success.
What is blockchain
Blockchain is what lies beyond cryptocurrencies- it is basically a database system made up of blocks of data. Each of those blocks of data has a signature and a connection to the block that came before.
The attraction of cryptocurrency to software developers is in markets in which most of the web-connected consumers are entirely mobile-first or where the rest of the client base can’t reach standard financial institutions.
Many institutions, banks, business leaders, and governments are aware of the importance of developing Cryptocurrency Apps.
Cryptocurrency is in the news nearly every day and people are quickly understanding that they need a fast, secure, and easy to use a mobile app to take advantage of the tech.
Cross-platform mobile app development for a simple and agile process
If you want to build a crypto wallet application, you may think you have to create it separately for the two of the most popular operating systems: iOS and Android. But it is more convenient to opt for cross-platform mobile app development because it can make the entire development process simple and agile.
By adopting cross-platform mobile app development you can gain great benefits of quicker turnaround time, lower expenses, a rapid deployment, and ongoing management facility. It’s not difficult to see how these elements, working together, can help you realize a higher ROI than could be achieved from the development of native apps.
In this article, we’ll go through some of the most essential features that any great cryptocurrency mobile app needs.
The main features a cryptocurrency mobile app should have
Security – any great financial mobile app needs to be safe and reliable
Usability – the mobile app should be easy to use
Functionality – the bells and whistles that the best bitcoin mobile apps need
The highest priority for any development company should be security.
Nothing else matters without the capacity to keep the cryptocurrencies safe.
Bitcoin security has some similarities to safety features in standard banking apps, and if you’ve used one of those, many of them will be familiar.
Access to the wallet needs to be gated by two-factor or multifactor authentication, either using one of the existing apps, a text message, or your system.
This feature is vital to any successful cryptocurrency wallet application. Just like on online banking, clients should be logged out instantly after a short inactivity period, or when the mobile phone is locked.
Client-side private key
Remember to make the safety of the user’s finances a priority. Most importantly, your wallet app can be trusted as a way to access bitcoins securely.
By storing the private server-side key, the only thing you ‘re achieving is opening up to attacks, and therefore litigation, and that’s just not worth taking the chance. By keeping the private key locally on the user’s device, there’s no chance that you can lose it.
Deny repeated payments
Even though a bitcoin wallet is not a bank, you should offer the users some of the same security features. Request approval if a user makes the payment and then attempts to make a duplicate payment to the same address.
Any good wallet application will create a new wallet address for each transaction. If someone tries to get cryptocurrencies multiple times in the same address, there’s a good possibility they ‘re up to no good at all. Notify the user and avoid some of the most popular forms of bitcoin fraud.
After security, the next most important feature of a cryptocurrency mobile app is usability.
Facilitate the backups of the wallet. The safest backup will be to the user’s laptop or an SD card, but it’s much more efficient to integrate secure cloud storage apps such as Dropbox or Google Drive.
When you’re building a high-tech app such as a cryptocurrency app, it’s very easy to forget that in the end, you’re creating an application. Formalities like an appealing look, smooth guidance, or a strong help file are extremely important.
Dozens of Bitcoin wallet applications are out there and impressions matter.
To stand out you must set yourself apart.
Push notifications are an absolute must for any contemporary mobile application. Users want to know when things happen to their coins. Whether it’s a request for payment or massive changes in the coin price level, it makes sense to put the information upfront.
You can get creative and let users customize their alerts. This can be possible only by developing a custom app.
Users will appreciate it if you can give them the possibility to create various accounts such as “Work Expenses”, “Food” and so on, that will help them keep track of where their coins are going.
Smart QR Scanner
Every bitcoin wallet app needs a QR scanner.
You can make the lives of your users much simpler by developing some logic into the app to distinguish between the different places QR codes lead. If a public key is scanned by the app then open the page to send funds. If it scans a specific payment request, then simply update that information to the page. If a private key is scanned, then open an option to sweep the account.
Bitcoin is gaining traction, but the majority of people still think in fiat. You can make this easier by enabling users to enter transactions in either BTC or at the currency of their choice. This is basically a nice-to-have feature and can make a huge difference in your app’s user experience.
Choose a great team of professional developers!
Creating a bitcoin app is a grueling process, especially developing one that uses advanced technologies like blockchain.
You can shortcut all of that by working with a great team of professional developers. Whatever your plans for the app, we can help! Our team of skilled developers has many experiences of working with cryptocurrency development platforms to create mobile apps that are secure, reliable, and highly functional. We will be happy to help you with the best quality cryptocurrency app development service and also any other customized application as per the client’s demands.