It has been over 13 years since Bitcoin (BTC) appeared. The popular digital currency has sparked a decentralized financial revolution. Similarly, investors need a way to keep their assets safe. You can do this by investing the funds in hardware and software wallets.
Retail and institutional traders can also transfer funds, process peer-to-peer (P2P) transactions, exchange tokens and build wealth with ease. Are you an entrepreneur looking to make a name for yourself in the digital economy? Start developing your white label crypto wallet today.
Learn what cryptocurrency is all about
It is a digital asset that operates independently of centralized institutions such as governments and financial institutions. Importantly, popular cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) operate on peer-to-peer (P2P) technology. So no one can control the circulation and transmission.
In general, this depends on factors such as the level of power consumption, the location of the miner, the tax laws of different governments, and the conditions of use. Investors can also choose to buy, sell, trade, bet, invest and farm using the DeFi platform and Decentralized Exchange (DEX).
Where is all the data stored? A distributed ledger stores quantitative and qualitative information. This way, anyone can view the data from anywhere. Importantly, immutability is an inherent property of distributed ledgers.
The stored information cannot be modified by anyone at any time. All participants in a decentralized network must adhere to a consensus mechanism: Proof of Work (PoW), Proof of Stake (PoS), and Delegated Proof of Stake (DPoS).
Ensure timestamp and unique signature behind all recorded data. This keeps information such as deposits, withdrawals, peer-to-peer (P2P) transactions, investments, and transfers from one wallet address to another safe.
White Label Cryptocurrency wallet development
A cryptocurrency wallet is a virtual wallet in which the public addresses and the private keys of the user’s crypto assets are saved. It promotes a secure and safe transaction of digital assets from one user account to another. Moreover, a crypto wallet also displays the balance associated with a public address of an investor.
In simple words, a crypto wallet is the same as that of an online bank account; the public address of the virtual asset is similar to the bank account number, and the blockchain is more like the bank’s ledger.
Cryptocurrency wallets serve as a central hub for entire cryptocurrency transactions. It acts as a physical medium for transferring and storing all digital cryptocurrencies. Generally, a crypto wallet holds the public keys and private keys of the owner to conduct secured transactions. Moreover, here you may have complete control over your digital assets. It also helps you to prevent counterfeit problems.
Key features of crypto wallets
A cryptocurrency wallet should have some additional features to ensure stable operation and a user-friendly interface. That's why we're creating a white-label cryptocurrency wallet with new advanced features, improved security, and an easy-to-use design for storing and exchanging cryptocurrencies.
1. Multi-Token and Multicurrency Support
Our crypto wallets support multiple cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc, and help you integrate a list of altcoins and tokens according to your trading needs.
2. Easy to use interface
Our cryptocurrency wallet provides users with a complete user interface and mobile-friendly UI/UX design.
3. Cross-platform compatibility
Our white label cryptocurrency wallets are supported by different platforms as people use different devices today. Our wallet is compatible with all major platforms and also supports all desktop platforms.
4. Instant swapping
The instant exchange mechanism allows wallet users to quickly and easily exchange one cryptocurrency for another without restrictions and without the need to use fiat as an intermediary.
5. Transaction history and conversion rates:
Conversion rate option - to instantly see the updated values of digital currencies.
Transaction history option - to view complete transactions made in the wallet.
6. Wallet Backup:
A wallet backup feature that protects your cryptocurrencies and tokens from software crashes and theft.
Security features of a cryptocurrency wallet
Some of the security features obtained by developing the white label crypto wallet services are:
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Two-factor Authentication
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Auto generation of a public key for new transactions
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Auto-session logout
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Facial recognition and Fingerprint
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Multi-signature Support
What are the different types of crypto wallets?
The various kind of services provided by cryptocurrency wallets are :
1. Web Wallet
Web wallets, also known as online wallets or hot wallets, are primarily web-enabled. Once the web wallet is connected to the internet, users can send, receive and access cryptocurrencies. The latest features of the web wallet are given below:
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Allows you to complete the transaction faster.
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Store multiple cryptocurrencies and tokens.
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Connecting to the cryptocurrency exchange is easy.
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Suitable for minimal storage of digital currencies.
2. Mobile Wallet
The mobile wallet is an advanced cryptographic wallet that can be accessed through a mobile phone as a wallet app. The mobile wallet can be accessed anytime, anywhere. Mobile wallets generally support popular cryptocurrencies, stablecoins, and DeFi tokens.It allows traders to easily buy, sell, trade, and exchange their digital currencies. The different types of mobile wallets are (1) Multi-cryptocurrency Mobile wallets, and (2) Single Cryptocurrency wallets. The prominent features of the mobile Wallet are described below:
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Our mobile wallet supports QR code scanning.
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Enables biometric authentication.
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Sending and receiving crypto assets is easy.
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Near-field communication (NFC) technology.
3. Desktop Wallet
Desktop wallets are said to be the most efficient cold storage for digital assets. Desktop wallets are more secure than web and mobile wallets. The advantages of desktop wallets are as follows:
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The most secure type of wallet.
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No third-party servers are required to store private keys.
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Cold storage office wallet does not require internet.
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Simple and easy to use.
4. Hardware Wallet
A hardware wallet is an advanced type of crypto wallet that stores digital assets on hardware. Hardware wallets are more important for handling private keys and public addresses. The perks that are obtained by utilizing the Hardware Wallet are as follows:
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Hardware wallets are more secure.
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A simple and safe place for the long-term storage of digital assets.
What are the different steps to creating a cryptocurrency wallet?
Decide on the type – you can choose offline or online depending on your business needs, investor preferences, and target market. Importantly, these decisions may be based on feature type, security measures, and user interface (UI) usability.
Build a Minimum Viable Product (MVP) – Basic features of hardware and software wallets are included in the prototype. It is suitable for the needs of retail and institutional investors.
Start coding - cryptocurrency wallet development companies use advanced web frameworks, programming languages, and testing tools. This guarantees a very safe experience for investors when buying, selling, and transferring cryptocurrencies.
Do testing – Thorough testing is essential to eliminate bugs and defects. Therefore, investors protect their funds and data against DDoS attacks, hacking incidents, and phishing attacks.
Wallet Launch - After extensive testing of both hardware and software wallets, they are finally on the market. This allows investors to manage their portfolios seamlessly.
Why White Label Cryptocurrency Wallet?
Originally, blockchain was used to record cryptocurrency transactions in a transparent and secure system. However, blockchain now offers many solutions for a variety of industries other than cryptocurrencies. Cryptocurrency trading grew at a remarkable rate, increasing the number of cryptocurrency holders during this period.
Blockchain-based cryptocurrency wallets have been developed to keep cryptocurrencies safe. We develop secure cryptocurrency wallets based on blockchain technology with the most advanced features and functions. A secured crypto wallet is developed on blockchain technology with the foremost advanced functionalities and features.
The main reasons for creating crypto wallets based on blockchains are as follows.
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Secure crypto payments with unique public and private keys
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Simplified cryptocurrency exchange for users
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Easy to install and use
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Decentralization without government control
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Faster transactions with zero or low transaction fees
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The inflation process is unaffected because the value remains the same.
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Users can know the value of their cryptocurrency.
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Transactions with multiple cryptocurrencies
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Seamless cryptocurrency trading and exchange
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Balance monitoring
Why opt us for crypto wallet Development
Clarisco Solution, being the foremost reputed Cryptocurrency Wallet Development Services, we've excelled in white-label cryptocurrency wallet development for businesses of any size, supporting their desired requirements. As a leading blockchain development company, we excel in developing blockchain wallets for companies of all sizes as per their requirements. With world-class resources and technology, we have become an expertise cryptocurrency wallet development company and rendered outstanding crypto wallet development services for various clients globally. This is the perfect time to dispatch your Cryptocurrency wallet!
Instantly connect with our Experts to build your Crypto Wallet in a Week!!
