How Much Does It Cost To Develop Blockchain Wallet App?
July 12, 2018
Due to the enormous growth of Blockchain technology and its applications, all the financial businesses have started investing in Blockchain technology in one or the other way. As Bitcoin and all other Cryptocurrencies work based on Blockchain, there has been a huge demand for Bitcoin applications development. As we all know that Bitcoin is neither a real coin made out of metal nor a currency note, but it is a Cryptocurrency. Now people can perform peer-to-peer transactions securely with zero or at a very low transaction cost using Cryptocurrency.
Foreseeing the bright future of Cryptocurrency and its impact on global business markets, vendors have started accepting payments using Bitcoin. To make such payment transactions easier, there is no alternative to a Bitcoin wallet application. With Bitcoin mobile wallet app, you can easily make Bitcoin payments for the products/services you bought from the vendor from your wallet account to his wallet account with almost zero transaction fees.
Apart from doing online payment transactions, Blockchain wallet app also helps you send and receive Cryptocurrencies with other wallets safely. And if you are running an exchange which trades Cryptocurrencies, wallet app helps your customers to trade coins directly on your exchange via a mobile wallet app or a web wallet app.
There are a plenty of Bitcoin wallet applications available in Appstore like Airbitz, Bread, BitPay, Copay, Electrum, Blockchain.info, Paper wallet or Ledger which allows people to buy and sell Bitcoins in a reliable manner. But if you are looking for a completely branded and customized Bitcoin wallet app for your exchange or for your upcoming Initial Coin Offering (ICO), then continue reading this article to know how much it costs to develop a Bitcoin wallet app.
Key Features of Bitcoin Wallet Application
Standard Features of Bitcoin Wallet Application
- Send/receive cryptocurrencies in the easiest way incl. Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple and more
- List balance of each wallet separately in Crypto & Fiat currency with exchange option
- Enter wallet address/scan QR code, enter an amount, view fees to do a transaction. Transaction Hash for completed transactions
- Generate new wallet address, share wallet address (QR code image, Copy text), List Generated wallet addresses
- Secure backup and restore functionality supporting all international wallets
- App Pin, System fingerprint/face unlock for added security
- Change PIN, Change base fiat currency, Export Private Key, Export Wallet Addresses
- Support Multi-languages
Advanced Features of Bitcoin Wallet Application
- 2-factor Authorization
- 24 digits seed generation for improved security
- HD wallet and Multi-address wallet
- Buy and Sell coins integrated into an exchange
So, What About The Cost of Developing A Bitcoin Wallet Application?
When it comes to the Bitcoin Wallet application or Cryptocurrency Wallet application development, there are few key things to consider which have the impact on pricing. The most important things are coins you want to support and security of the wallet. Depending upon the coins you want to add in your wallet application, the cost will differ. Also, a wallet application being a financial software, it has to be 100% secure and hack-proof. So, implementing advanced security features will also have an impact on the overall development cost.
It is difficult to define the exact price of the Bitcoin wallet application development, however, the pricing would range between $5,000 to $20,000 depending upon the application scope and platform support required. It is advisable to define a clear scope of your wallet application, security requirements and platforms support at the beginning of the project in order to get a fair idea about the Bitcoin wallet application development price.
Techcronus is an expert Blockchain application development team in India who has in-depth knowledge with rich experience in development of Cryptocurrency Wallet Applications on the web and mobile platforms. So, if you are in process of developing a brand-new Bitcoin wallet app or want to upgrade your existing Bitcoin wallet app then please feel free to contact us to get a free quotation today.