The top technology buzzword of 2022 – “Cryptocurrencies” is captivating the whole digital world! They came into the market in 2009, and within a few years, they gained huge attention in the Blockchain space, and everyone is aware of its benefits, from incredible security to better transparency to much more. The trend is not going anywhere, and the future of crypto trading is promising; it is the right time to build a crypto wallet.
Launching a highly customized crypto wallet makes it easy and convenient for you to transfer funds globally. But if we say about building a multi-crypto wallet for holding multiple coins? Yes, you heard right! There is a possibility to get a multi-crypto wallet over a crypto wallet. It will help you store various digital assets belonging to different blockchain networks, meaning storage in the same wallet. If you have just entered the world of crypto investment, you must understand how important a cryptocurrency wallet is for you.
Exodus clone has become the first choice as a multi-cryptocurrency wallet among so many options available as it is quite straightforward to use. Such a crypto wallet also supports an extensive range of tokens and allows trading without closing apps. Beginners also find this wallet development quite convenient, and the intuitive design makes it easy to rule the cryptocurrency world. In this blog post, we help you know how to build crypto wallets like EXODUS and the essentials to execute the process.
Before we get into more detail, let’s start from the very basics:
Overview On Exodus Wallet Clone
Cryptocurrencies are a kind of digital money powered by Blockchain technology. You can see no central authority for the management and maintenance of the value of cryptocurrencies. Rather than this, all the tasks are distributed among the crypto holders via the Internet. All that means that Blockchain technology has the potential and is central to cryptocurrencies allowing transactions to be processed and authenticated without a central authority.
For secure storage and transaction, cryptocurrencies require a place; this is why a crypto wallet comes in. It is a digital wallet that incorporates private keys to access cryptocurrencies. You can send and receive cryptocurrencies more securely using it. The keys also prove the ownership of digital money and make easy transactions.
Exodus is one of the multi-currency wallets that works like an intuitive and reliable app offering many functions. It also supports an extensive range of tokens and allows trading them without leaving the app. Moreover, beginners find the crypto wallet extremely convenient, and the intuitive design makes it easy to access cryptocurrencies. Anyone can download the wallet for free.
The Need For Crypto Wallet Development Like EXODUS
Securing digital transactions has become crucial with the range of cryptocurrencies out there. The increasing popularity has also forced businesses to use cryptocurrency wallets to secure digital transactions. If you are on the route to building your wallet, hire a professional multi currency wallet development company. Also, it is suggested to put your crypto wallet development only in the experts’ hands.
When choosing the development of a modern cryptocurrency wallet like Exodus, there are benefits you need to look for:
- The faultless functioning
- Easy to use and intuitive interface
- Supports hundred crypto assets
- Fast and secure transactions
- Support new cryptocurrencies, etc.
The execution of transactions using crypto wallets is automatic and ensures no hacking incidents, increasing the security level. Users looking for a secure solution to store cryptocurrency assets can choose to build a crypto wallet like Exodus.
Various Types Of Crypto Wallets
1. Web Wallets
You can access web wallets through a web browser. This type of wallet does not require any specific software to download on a computer or phone. With highly-functional web wallets, the website holds crypto keys, giving less control over cryptocurrencies.
2. Mobile Wallets
Another type of wallet that can be downloaded or installed on smartphones. The surprising thing about mobile wallets is that they come with QR codes for easy buying and selling cryptos. These wallets are highly vulnerable to viruses, requiring additional security measures. So it is recommended to encrypt the wallet with a password or take a backup of private keys if you lose your smartphone.
3. Hardware Wallets
Hardware wallets are next on the list. They are designed to protect private keys from online storage methods like your computers and phones, which are likely to be accessed by hackers. Private keys are stored on a drive for more safety and are only connected to devices when using cryptos.
4. Desktop Wallets
A desktop wallet is software that one can download, install, and execute on a computer locally. Desktop wallets completely differ from web wallets as they give full control over the private keys. However, there is a need to follow some security measures to strengthen the wallet.
5. Paper Wallets
Paper wallets are designed on paper on which the crypto address and its private keys are printed out physically in the QR code form. These codes can be further scanned for the execution of cryptocurrency transactions.
A Few Good Reasons That Necessitates the Multi-currency Wallet Development like EXODUS
1. Easy To Use
With the increasing popularity of Multi-currency wallets, the demand for development has also increased. Bringing the multi-currency wallet on a device makes it convenient to transfer money and keep track of the balance. These wallets are extremely easy for users to access. Just after installing, users can start to use them with ease.
2. Ensures Higher Security
Multi-crypto wallets like EXODUS, packed with the superior security algorithm, mean all the data stored in the wallet is encrypted and highly secure. The additional layer of security within the multi-signature wallets and two-factor authentication makes the wallets secure compared to other digital wallets. Since the wallet is secured, the chances of getting it lost or damaged are less.
3. Multi-currency Support
There are a vast number of cryptocurrencies present in the market. Each of them holds a unique infrastructure and purpose. Building a multi-currency wallet helps enhance your trade capacity in a new way. If you hold different currencies, getting a wallet helps you access severe currencies from a single wallet. The multi-currency wallet removes the need for using a single crypto wallet for assets.
4. Automatic-session Logout
One using the multi-cryptocurrency wallet will automatically log out after every session. These wallets are designed to keep security at the top and make transactions more secure. So, these are the benefits of crypto wallet development. After reading all these benefits, it is wise to build your wallet to secure the cryptos and ease the transaction process.
The one question that must be running in your mind is the need for a professional cryptocurrency wallet development company and how to find a company that can develop your wallet at the best price.
So How To Build A Crypto Wallet Like Exodus? Steps Involved!
We can see an upsurge in the usage of crypto wallets, and one of them is Exodus. It is one of those crypto wallets that traders usually prefer to store crypto assets. Also, its usage encouraged many business owners to launch their crypto wallets like Exodus. Below is the guide to building a crypto wallet like Exodus:
1. Requirement Gathering: The complete requirements will be gathered in the first step. In this, the designing and development team will collaborate and finalize the features to be added and the tech stack to use in the multi-crypto wallet development.
2. Designing & Development: Once the final design is curated, the next phase will begin with development. In this, developers will write the customized code and execute it as per the designed prototype. Everything is performed in an organized manner, and the final product will be developed with advanced features.
3. Testing the Crypto Wallet: Project testing is one of the most crucial steps for cryptocurrency wallet development. The final crypto wallet will go through multi-phase rigorous testing before it deploys to the client’s side. During the phase, all minor and major glitches are removed.
Cost Deciding Factors Of Crypto Wallet Development Like EXODUS
The cost of building a crypto wallet depends upon various factors that are mentioned below:
- The Company’s Size: The cost to develop a crypto wallet app depends upon the company’s size one is hiring. If you go with a medium or small company, the cost might be less than a large enterprise. So pick the company depending on your needs and budget.
- The Complexity of The App: Different elements are there that define the complexity of a crypto wallet. It includes a feature set, tech stacks, design elements, etc. The cost all depends upon whether you need a complex app or not. The more complex your crypto wallet app is, the more it will cost.
- Size of the Crypto Wallet: If you want to keep essential features in the app, the size of the crypto wallet will increase. It is highly recommended to focus on essential features as it will not cost you. This will deliver a great customer experience at an affordable price.
- Design of crypto wallet: Like UI/UX design, every part of the crypto wallet, like UI/UX design, will take time to get designed as per the requirement. If you go with a complex design, the e wallet development cost will be more.
Essential Features of Clone Apps Like Exodus
Now that you have a clear understanding of cost factors in your place, let’s discuss the features you can include in the app.
- Authorization: It is one of the most common features of the crypto wallet app. The authorization feature has to be developed using the well-tested security protocol. The addition of two-step authentication and multi-factor authentication provides an additional layer of security.
- Conversion rate: A multi-crypto wallet lets users transact money between the same digital currencies. The wallet needs to be updated based on the real-time currency value.
- Push Notifications: The feature of push notification within the crypto wallet enables users to get notified about the digital currency prices, transaction failure, etc. Using the feature, users can remain up to date with real-time activities.
- Transaction Feature: An essential feature of the crypto wallet is the transaction. Using the feature, users will be able to send and receive digital currencies within the crypto wallet app.
The Final Note – Ready To Build A Multi-crypto Wallet Like EXODUS?
Cryptocurrencies are shaping the future of the finance industry. The good news is that now there is an option to build a wallet to store multiple cryptocurrencies you hold. Multiple crypto wallets in the market help keep currencies more organized and perfectly safe. EXODUS is the popular example taking the crypto space by storm among the big lists.
It has many benefits over single crypto wallet development – more convenient, easy to access, and much more. Also, the security feature that a multi-currency wallet provides is unbeatable, and storing currencies in this wallet type is surely a smart move. Therefore, building a multi-currency crypto wallet will surely bring immense peace of mind.
Building an EXODUS-like crypto wallet will allow you to store, exchange, and trade virtual currencies like Ethereum, Bitcoin, and others in one place.
We at Suffescom offer best-in-class cryptocurrency wallet development services for the storage and processing of virtual exchanges. With a team of highly dedicated cryptocurrency developers, we help you build your secure, reliable, and scalable wallet to keep you ahead in the crypto game. We leverage the most innovative and advanced technology stack to build a powerful wallet for you that helps process transactions more securely.