At present, cryptocurrencies, notably bitcoins has come into common use. Though there are still many questions in this matter.. Especially how and where to store/keep cryptocurrencies safe? This seems to be a difficult task as we cannot handle or touch the digital currencies. Building a cryptocurrency wallet is the perfect solution!!!
In this article let me explain what is cryptocurrency wallet, why do you need it and how to build a cryptocurrency wallet .. Hope, this blog will help you to figure out a solution for this issue.
What is a cryptocurrency wallet?
A cryptocurrency wallet is a type of software that stores your digital assets and interacts with various blockchains to allow users to safely send or receive cryptocurrencies with the help of a private key.
A crypto wallet/bitcoin wallet is an inventive development way for quick cryptocurrency exchange on the go. The Cryptocurrency wallet development allows you to completely control your money and allows to earn, monitor and transfer cryptocurrencies. This crypto wallet brings out the best benefits of decentralization, security, and transparency.
So, If you want to carry a Bitcoin or any other cryptocurrency, you will need to have a digital wallet.
We Coinjoker - As a Cryptocurrency Wallet Development Company, offers a full range of advanced crypto wallet development services. We give high priority to security and build custom crypto wallet on multiple blockchain platforms with optimal performance and profitability.
Source : Blockgeeks
How do our Cryptocurrency Wallets works?
Hence most of the people don't know how the cryptocurrency wallet works. Unlike the normal traditional wallet, digital wallets don't store currencies. The currencies don't get stored in any particular location or exist anywhere in physical form. All that remains is the records of transactions stored on a blockchain.
This cryptocurrency wallet stores your private and public keys so that the users can send or receive cryptos. Whenever a person wants to send crypto coins to you, they are essentially signing off the control of coins to your wallet's address. To make use of those cryptocurrencies, the private key stored in your wallet must match the public address assigned to that currency. If both the public and private keys match, the balance in your wallet gets increased whereas the sender's balance gets decreased accordingly.
Different types of cryptocurrency wallets that we provide,
There are different types of wallets to store and access your cryptocurrencies. These wallets can be made into 3 different categories,
1. Software Wallet- desktop, mobile
2. Hardware Wallet
This wallet software can be downloaded and installed on a PC or laptop. This wallet can only accessible from the single computer in which it is downloaded. The desktop wallet is an effective cold storage method to offer the highest level of security. However, if your computer has to get hacked or gets a virus attack, then there is no possibility to safeguard all your funds. This desktop wallet can be used as offline storage and seems to be safer than mobile and online wallet.
No internet connection is required (functions as cold storage)
High level of security due to the local storage of private keys.
Easy to use.
Advanced one compared to other types of wallets.
Compatible to integrate with many wallet apps.
Online Wallet/Web wallet :
The online wallet runs on the cloud and is accessible via any browser from any device in any location. These wallets store your private keys online and can be controlled by a third party which decreases the chances of being theft and hacking.
Process Quick Transactions
A Highly functional mobile cryptocurrency wallet can be accessed easily on any mobile device and operating system, that stores your crypto coins and performs your transactions. These wallets are usually limited in space, much smaller and simpler than desktop wallets.
Easy and quick transaction
Allows multi-currency transactions
accessible from anywhere on mobile with internet
Allows multiple cryptocurrency transactions.
Ability to use QR scan code for sending and receiving
A hardware wallet is completely different from software as it stores the user's private keys on hardware devices. Even though the transactions are carried out online, they are stored offline, thus increases security.
Users can easily connect their device to any internet-enabled system, enter the pin, carry out transactions and confirm. Hardware wallets make it possible to keep your money offline and away from theft/hacks.
Comes with private keys
safer and easiest way to store cryptos for long period.
portable and highly secure than other wallets
Can hold large amounts of cryptocurrencies
As the name suggests paper wallet refers to a physical copy or printout of the public and private keys. This wallet is used to securely generate a pair of keys. Transfer of cryptocurrencies to your paper wallet can be done by transferring funds from your software wallet to the public address shown on your paper wallet. In the case of withdrawing, all you have to do is transfer funds from paper wallet to your software wallet. This process is called sweeping and can be done by entering the private keys or scanning the QR code
What makes our Cryptocurrency Wallet different from others?
The major key feature of our cryptocurrency wallet is that we offer multiple cryptocurrency wallet development services so that you can store multiple cryptocurrencies that are in circulation as well as custom coins. We offer several advantages and features,
1. Multi- cryptocurrency storage
2. Automatic session logout
3. Duplicate payment detection
4. 2-factor authentication- To maintain the security of user account
5. QR scanner- To send and receive cryptocurrencies in a single click.
6. Security-To protects the user accounts with password and PIN.
Thus we develop wallets for operating all cryptocurrencies, such as Bitcoin, Ether, Litecoin, as well as custom cryptocurrencies. We also build wallets that accept tokens. If you have an idea to launch your token, we can also create the whole framework/, including a custom wallet.
At coinjoker, you will get a secure cryptocurrency wallet with efficiency and flexibility according to your business requirements. Our wallets can be used in various business solutions like,
1. Decentralized applications
2. Cryptocurrency investment
3. Cryptocurrency exchange services
So If you are interested in developing a Cryptocurrency wallet of any type, our services would come useful all the more. Having vast experience, we’ll help you in creating a high-grade Crypto wallet, where you can store multiple currencies without worrying about losing the amount.
If you wish to create a cryptocurrency wallet for yourself or your company, contact us today by filling out the form below!