If you wish to trade in Bitcoins it makes sense to get a Bitcoin wallet app. BTC wallet transactions are based on key cryptography that uses a private and public key. Whenever money is transferred to your Bitcoin wallet address, the transaction is recorded on the blockchain and the wallet shows the balance change. So, the wallet essentially functions as your personal interaction channel with Bitcoin’s network. The private and public keys are necessary as they provide you with access to Bitcoins and the power to conduct transactions.
How to build a Bitcoin wallet app:
Since Bitcoin comes with open source code, everyone knows its architecture and no one controls the Bitcoins. However, anyone can become a part of its network. So, creating a wallet app is easier than you thought. To make it from scratch you can access free libraries that will make this task simple for you. They synchronize the Bitcoin wallet with the Bitcoin blockchain making transactions smoother. Here are some factors that you must consider when building a Bitcoin wallet app:
- Authorization-login or signup for accessing the wallet
- Profile page for checking balance and transactions
- Security- setting pin code and passwords
- Push notifications for transactions or changes in the price
- QR code scanner for easy transfers
- Trading services for finding sellers or buyers
- Exchange rate
You can even use Coinbase SDK for creating the backend of the Bitcoin wallet. This supports other coins like Litecoin and Ethereum. SDK lets users use BTC for buying other cryptocurrencies and support cryptocurrency payments. It supports development for both Android and iOS platforms and offers an easy guide to build the app. As a developer, you have to go through a registration process.
Blockchain wallet API: Developers can build Bitcoin wallets using APIs from Blockchain Luxemburg Ltd. This company is known for offering easy-to-follow documents for developers to build wallet apps within a short time. It also supports many platforms like Linux, iOS, Android, Windows, and Mac OS, and popular programming languages like Ruby, Python, and Java. Since APIs are free, it is a benefit for developers that are working with tight budgets. Finally, you can choose cloud platforms for developing Bitcoin wallet apps. For instance, AWS Elastic Beanstalk.
So developing a Bitcoin wallet app is easy using online libraries or even building from scratch, but neither of these two options is required for small companies. They can use readymade Bitcoin payment solutions that are easy to integrate into the app.