Blockchain E-Wallet App Development Cost

All financial companies have begun investing in Blockchain technology with the rising buzz in Blockchain technology. There has been a lot of demand for Bitcoin applications development & Blockchain development companies, as Bitcoin and all Cryptocurrencies are based on Blockchain. Bitcoin is not a coin made from metal or a currency note. However, it is a Cryptocurrency. With Cryptocurrency, people can securely perform peer-to-peer transactions with zero or very low transaction costs.

Vendors have begun accepting Bitcoin payments to help them see the bright future of Cryptocurrency. A Bitcoin wallet app is the best alternative for making such payments easier. The Bitcoin mobile wallet app allows you to make Bitcoin payments from your wallet to the vendor for the products/services. There are almost no transaction fees.

Technology advances continue to make it easier for businesses to develop Blockchain E-wallet apps. Thus, they are able to reap the benefits of Blockchain in different industries. It is important to understand the basics of Crypto Wallet before you dive into the E-wallet app development cost.

Let’s take a look at the way that Blockchain development services are being adopted by the industry.

Data Speaks the Truth!!

Statista reports that Blockchain wallet users will surpass 72 million in the 1st quarter of 2022. The statistically supported rise in demand has led to Fintech-enabled businesses adding Blockchain-powered E-wallets as part of their revenue stream and business model. With such a buzz, Blockchain development company business is on a steep rise.

Cryptocurrency Wallets: A Basic Overview

A place for cryptocurrencies to be stored and traded is essential. A cryptocurrency wallet is crucial. A digital wallet is one that stores your passwords, private keys that permit you access to your cryptocurrency. It allows you to send & retrieve Bitcoins. These keys are used to prove ownership of your digital currency and enable you to make transactions. All in all, the crypto wallets are a reincarnation for the Blockchain app development company. Thereby, exponentially rising the Blockchain app development services.

Determining the E-Wallet App Development Cost: The Criteria

These are some things you should keep in mind when developing a Blockchain wallet application. Check out these tips for a better understanding of the E-wallet app development cost.

# Apps Features & Complexity

This is one of many factors that will determine the price of developing a Blockchain Crypto wallet app. The wire framework must be clearly and consciously defined. The app should have sufficient complexity and features to allow for smooth operation and an easy user interface. However, it is important not to make the app so complicated that users become confused. Keep in mind that the more complex features, the higher its price. Complex app features add to the cost of Blockchain digital wallet cost.

# Firm Size

As various brands have distinct pricing ranges, several developers’ companies have differing prices for a similar applications. To ensure that you select the right Blockchain development company for your business, it is important to do extensive market research. The company’s size will also affect the answer to the question “How much does it cost to develop a Blockchain wallet app?” 

Generally, companies can be divided into three categories: large, medium, & small. Although the cost of developing a Blockchain app will be high if you go with a large Blockchain app development company. You can rest assured that you will get a reliable app due to the Blockchain development company‘s reputation.

However, a small business may charge a lower Cryptocurrency wallet app development cost, but it cannot guarantee the quality. It is advisable to choose a medium-sized business having a good reputation and lower Blockchain digital wallet cost than a larger company.

# Tech Stack

It is directly proportional to the tech stack used in application development. While creating a robust and powerful bitcoin mobile app for cryptocurrency, it is essential to apply the correct technology principles. Before putting resources into creating an app, developers should be familiar with the technicalities and details of the framework. For the best tech stack, it is advisable to opt for the best Blockchain app development services from a reputed Blockchain app development company.

# Crytpo Wallet App Design 

Your crypto wallet’s success is dependent on its attractive and simple design. The requirements will determine the cost of your crypto wallet development. While the right plan may cost more, it will benefit you in the long run. Depending on the requirements, each part of your wallet app, such as UI/UX design and wireframes, will take some time to create. Expenditures will be higher if you demand a more intricate design. Therefore, your Blockchain digital wallet cost rises.

Blockchain-Powered E-Wallet App: What Features We Must Include!!

Before you can calculate the E-Wallet development cost, it is important to understand the features.

• Authorization

Authorization is the most important thing to consider when you are discussing digital wallets. This is the most important and fundamental feature of any digital wallet. If the wallet is used for cryptocurrency, there will be two-factor authentication. Two-factor authentication refers to a signup form. The next is Google’s authentication feature. Google’s authentication feature will add an added layer of protection to any kind of transaction.

• Multi-Currency Support 

The world of today is very competitive and busy. Today’s business world is largely global. To make payments easier, many crypto wallets have the functionality to hold multiple currencies. This feature allows transactions to be made between different currencies. The multi-currency feature adds to the cost of Blockchain digital wallet cost.

• Transaction Functionality

Blockchain is all about transforming the future of transactions. The transaction feature is the most important part of the cryptocurrency wallet app. Users of the crypto wallet app will be able to send and retrieve digital currency. It is important that this section of your app is secure and fast.

• Notifications Via Push

The push notification feature allows admins to notify crypto wallet app users about certain details. This includes the price of their cryptocurrency, success or failure of a transaction, address addition, and other details. Users will be able keep track of all their account activity via the feature. For such advanced features, you must seek assistance from a market leader and a leading Blockchain development company.

• Conversion Rate 

Crypto wallets are crucial in allowing transactions to be made from various currencies and modes. It is important to keep them updated. Updates must reflect the current value of real-time currencies.

• Paper Wallet 

Many mobile wallet apps can scan QR codes. The Blockchain wallet app must also have the QR code scanning feature. This QR code will allow the user to decode the bitcoin paper wallet. It will scan the paper bitcoin wallet and add keys to the wallet app. Thereby, allowing you to perform any type of transaction. Such a wallet feature is an add-on for your Blockchain digital wallet cost.

Blockchain E-Wallet App: Time to Know the Cost

We have calculated the E-wallet app development cost, taking into account all the technical aspects.  The Blockchain digital wallet cost, specifically for the Bitcoin wallet segment, is approximate $80k to $90k. Moreover, it depends on the features you wish to implement in your E-wallet application.

Here’s the breakdown of E-wallet app development cost:

• Backend Development: $9k
• iOS: $25k
• Android: $30k
• Design: $7k
• Desktop: $6k
• Quality Testing: 4k

Last Say!!

The exact E-Wallet app development cost is not known. However, it would be between $80,000 to $90,000 depending on the scope and platform support needed. To get an accurate price for your Blockchain digital wallet cost, it is important to clearly define the scope of your wallet application, security requirements, and platform support before you start the project.

MobileCoderz, an established Blockchain development company, has rich experience and in-depth knowledge in the development of Cryptocurrency Wallet Apps on both mobile and web platforms. If you’re interested in developing a new Bitcoin wallet app, or upgrading an existing Bitcoin wallet app, please contact us today for a free quote.