Blockchain technology seems to have been growing by leaps and bounds. More and more businesses are found brainstorming hard to use such tech within their existing or newly created applications. With the advent of bitcoins and cryptocurrencies, the business market seems to have reached new heights globally.
Since you are already reading the post I assume that you are determined to develop an e-wallet application. Well, I would just like to add something here, try developing a Blockchain based e-wallet app. For that it is advisable to consider hiring a reputable financial software development service provider who has an expertise to develop such applications at a reasonable price.
Are You Planning to Develop an e-wallet app at a Reasonable Price? How About Creating one on the basis of Blockchain Tech?
1. Understanding the concept of Cryptocurrency Wallets
2. How to create an ideal Blockchain Wallet?
3. How much Does it Cost to Develop such a Blockchain Powered E-wallet?
1. Understanding the concept of Cryptocurrency Wallets
Now earlier cash transactions were pretty much in demand. Each one of us used to carry our very own wallets. Similarly, to keep your cryptocurrencies safe one has to make use of digital wallets. Bitcoins and Ethereum are one kind of cryptocurrencies which are often sent and received among traders.
Right from 2011 to 2021, around 70 million wallets have been created and successfully used across the globe.
2. How to create an ideal Blockchain Wallet?
Now do you know the working of emails? Well, similarly, here you have to use public key and a private key. As the name implies public key is more kind of an email address which can be given to anyone whereas private key is kind of a secret that shouldn’t be disclosed to anyone. In case if a private key is accessed by anybody, this means your profile has been compromised. And all your cryptocurrencies can be stolen in no time.
So what are the key features of an ideal blockchain wallet?
- Cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Ripple can be sent and received without much hassle
- The app must be easy to use as well as the best in regards to security.
- Backup and Restore
- Multi-language support
- Enables instant transactions with no geographical boundaries
- Low transaction fees
- 24 digits seed generation
- Easy conversion between digital currencies and flat currencies
3. How much Does it Cost to Develop such a Blockchain Powered E-wallet?
Fortunately, there are a plethora of financial software development services providers who can guide you through the process of developing an app for storing, receiving digital currencies. Here’s what happens is, Backend development could go upto $10000, if you want to create Android app, then it might be $32000, and if you want to create an iOS app $28000, for web design the cost might be around $7000 and if you want to conduct quality analysis then the cost is $5000.
So on and all, it won’t go more than $95000. So now you know what it takes to develop a Blockchain-based e-wallet application.
Just make sure that before you consider hiring a reputable financial development service provider, be clear of your thoughts and requirements. And also, the cost of the developed fintech app might vary depending on your needs and features.
So that’s all for now! In case you still have any doubts or queries, feel free to mention that in the comment section below.
