Safeguard the assets of investors via White-label Cryptocurrency Wallet Development

Investors are putting in more money on virtual assets now.  This is due to the massive growth of cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). With the trading volume of digital currencies reaching new heights, holders must store them safely. Are you an aspiring entrepreneur with a keen interest in Web 3.0? Start Cryptocurrency Wallet development now.  

What are the important features of a Crypto Wallet? 

• Support for numerous tokens - Retail and institutional traders can store digital assets safely on a Cryptocurrency wallet app. They can split their holdings into types like cryptos, DeFi tokens, stablecoins, and Non-Fungible Tokens (NFTs). Moreover, investors can use options like send and receive while transferring funds from one wallet address to another. 

• Real-time monitoring of portfolios - Crypto wallets operate on a self-custodial mechanism. Thus, investors have complete control over their virtual assets. They can use private keys, secret passwords, and recovery phrases for safeguarding their data and funds. Moreover, users receive updates about balances and transaction history. 

• Integration with DeFi projects - Investors can access a wide variety of Decentralized Finance (DeFi) platforms by using a cryptocurrency wallet app. Thus, they can choose options like staking, yield farming, peer-to-peer (P2P) lending, and trading to increase their returns. 

         Besides that, crypto holders can become part of a powerful Decentralized Autonomous Organization             (DAO). They receive governance rights. This helps investors to vote on crucial decisions that                         influence the growth and development of the platform. 

• Token Swapping option - How can investors build their wealth? They can use the token swapping option on a crypto wallet app. Real-time information about prices, trading volume, and market capitalization of virtual currencies are available. 

         Consequently, numerous aggregators and market makers will collate data. Based on their portfolio               objectives, the level of liquidity, and the service fees, investors can press the exchange button after                choosing the best offer. 

• Slippage Protection mechanism - Sometimes, extreme price swings are quite common when investors execute a large order. They can safeguard themselves from losses by clicking the Slippage Protection button. Thus, their orders get spread across multiple Decentralized Exchanges (DEXes). 

         Users can fix a certain percentage to prevent fluctuations between the order placement and                           confirmation time. What happens when the slippage percentage is above the maximum limit set by a           trader? The token swap cancels. 

• Integrated help desk - Users can solve their problems easily by contacting the help centre. They will receive support for issues such as enabling two-factor authentication (2FA), connecting to Decentralized Exchanges (DEXes), processing of transactions, usage of Decentralized Applications (DApps), and protection of private keys and secret passwords from hackers and phishers. 

• Conversion tool - Investors can manage portfolios effectively by using the conversion option on a crypto wallet. Importantly, they can enter a specific amount of Wei. Later, the tool offers results about an amount of Ether (ETH). Eventually, users will know the gas fee to incur while initiating a transaction. 

• Personalized dashboard - It acts as the one-stop panel for investors to manage their funds. They can connect their wallet to Web 3.0 tools, keep an eye on the inflow and outflow of funds, and also transfer coins and tokens to hardware and software wallets. 

• QR code scanning mechanism - Users can process transactions in a hassle-free manner. They must sign in to the crypto wallet, enter a specific amount, and choose the crypto, DeFi token, and stablecoin to be transferred. Further, senders must click the QR scanning option and transfer the virtual currencies to a specific wallet address. 

  The security measures available on a Crypto Wallet are

• Two-Factor Authentication (2FA) - When you begin White-label cryptocurrency wallet development, utmost security is essential. Investors can shield their funds by enabling two-factor authentication. Thus, one-time passwords (OTPs) are sent to the mobile phones of investors when they process transactions, send and withdraw cryptos and fiat currencies. 

• Biometric authentication - Users can utilize their fingerprints for keeping their digital currencies safe. Eventually, it is a viable alternative to memorizing passwords and PINs. Moreover, investors can prevent the loss of data and funds by having a unique digital ID. 

• Usage of Digital Signatures - Crypto investors can protect their assets, especially while entering private keys and initiating a transaction. Generally, messages get signed and the format for transactions is different. For instance, guidelines such as the Advanced Encryption Standard (AES), Elliptic Curve Digital Signature Platform (ECSDA), and Rivest, Shamir, and Adelman (RSA) are followed. 

         Hence a specific order is followed when users sign a transaction. It comprises details like the gas                 price, gas limit, data of the sender and the receiver’s wallet address, name of the decentralized                     application (DApp) and the contract address.

• Other measures - For instance, hardware wallets like Ledger Nano X, Ledger Nano S, and Trezor offer extra layers of protection. They contain options like an anti-tampering sticker, automatic verification of firmware signatures, the additional support for passphrases, shields to store financial data, ultrasound seals, protected bootloaders, and cold storage options. 

The multiple Cryptocurrency Wallet Development Services are

• Web Wallet creation - Investors can monitor their crypto portfolios by using browsers like Brave, Firefox, Google Chrome, and Edge. A cryptocurrency wallet development company will create wallets similar to MetaMask. Thus, holders can use these software wallets for storing their crypto assets, swapping tokens, and accessing data from trading platforms and Decentralized Exchanges (DEXes).

• Mobile Wallet development - On-the-go is the right way to describe mobile wallets. Users can download apps on their smartphones. They can access features like instant swap option, addition of credit and debit cards, integration with Point of Sale (PoS) machines, and real-time market updates.

• Desktop Wallet creation - Investors can utilize their desktops and personal computers for monitoring their cryptos. They benefit from end-to-end encryption of private keys, auto-verification of all transactions, splitting of coins while making multi-signature wallets, and third-party plugins with crypto exchanges and DeFi projects. 

Wrapping Up

The crypto industry is growing at a faster pace now. As of today, there are 16746 digital currencies in the world. The trading volume of cryptocurrencies has also surpassed $117 billion. Want to offer economic freedom to the entire universe? Partner with a Cryptocurrency wallet development company now.