To meet the expanding customer needs, there are many crypto wallets in the market, including Metamask, Coinbase, and others. NFT development, for instance, is only the most recent development in the crypto field, which is evolving quickly. Therefore, crypto wallets must evolve too with the help of crypto wallet development services. For developing a crypto wallet app that stands apart from the competition, it should, in addition to ultra-secure security mechanisms, have market-leading features. Below we have prepared a list of must-have features that a crypto wallet should have in 2023 to address emerging user needs. Having the following features in a crypto wallet can also ensure that the wallet stands apart.
Features of Crypto Wallets
Connectivity with NFT Marketplaces
Markets for non-fungible tokens (NFTs) cannot be accessed with conventional cryptocurrency wallets. Because NFT trading has such high requirements, a crypto wallet should be able to enable NFT marketplace connectivity.
Built-in Web3 Browser
A built-in Web3 browser is an additional essential component of a crypto wallet. Users can access blockchain games and dApps thanks to it. Easy NFT trading is made possible by this feature. Users can thus buy and store their tokens in one location.
Staking
A crypto wallet’s staking feature enables users to safely stake their virtual currencies. Additionally, it enables users to take part in trade activities on platforms for decentralized finance (DeFi).
Lightning Network Integration
Lightning network-integrated wallets provide quick transactions. It helps people conduct off-blockchain transactions.
Daily Interest
Daily interest-paying cryptocurrency wallets are popular among consumers. Hence, companies may offer high annual percentage yield (APY) rates on cryptocurrency savings accounts.
Price Tracking
Price tracking is a feature of a crypto wallet as well. It enables users to view the current market value of all cryptocurrencies. Users can also look up transaction history.
Decentralized Apps (dApps) Support
Businesses can create cryptocurrency wallets that provide direct access to decentralized applications. Multi-session functionality and support for blockchain interoperability are prerequisites for this feature. Users will be able to exchange tokens that are exclusively available through the DEX platform with ease.
Credit Card Support
Having credit card compatibility in their crypto wallets is useful to many people. People can quickly use their credit cards to buy any cryptocurrency. Hence, this capability is yet another requirement for a flexible cryptocurrency wallet.
Direct Deposit
Users can deposit all or a portion of their paycheck to their account using the direct deposit feature in a cryptocurrency wallet. Customers have the option to exchange their income for a crypto asset.
Excellent Localization
Your solution can stand out from other cryptocurrency wallets by being tailored to a certain area or region’s demands. You can collaborate with a neighborhood bank in which you are well-known. This merger may draw individuals who are fresh to the cryptocurrency industry
Customer support
Customer assistance is a key element in creating the finest cryptocurrency wallet. Providing prompt answers to your clients’ questions might have a good impact on your business.
Customizable Transaction Fees
Many users of crypto wallets may be drawn in by the ability to customize transaction costs. Users can select the transaction costs using this feature. A user will pay extra if they require a rapid transaction.
Conclusion
Cryptocurrency transactions are now realistic, beneficial, and convenient thanks to blockchain. Yet as the number of cryptocurrency users rises, so does the number of cryptocurrency platforms. As a result, creating and releasing your cryptocurrency wallet becomes competitive. You can benefit from our extensive experience developing crypto wallets in this situation. Therefore get in touch with us right away if you’re interested in Crypto Wallet App Development.
