Contact Us
+1 (866) 842-5679
Table Of Contents
When Bitcoin was launched in 2009 as the first cryptocurrency, many people dismissed it as an optimistic idea that would never gain traction. Fast forward to today, the same bitcoin that was not even worth a cent is now valued at almost $119,000 as of July 2025.
Based on recent trends, it’s evident that we are not far from a world where physical currency is obsolete and cryptocurrency is the standard. Mobile app development services have seen a surge in orders for crypto wallet applications, as having a crypto wallet app is highly lucrative in this market, where the value of cryptocurrency is expanding rapidly.
So, how do you create a cryptocurrency wallet app? This can be achieved by implementing a robust backend, incorporating advanced security measures, providing a user-friendly interface, and utilizing a proper blockchain network. If you’re looking to build a crypto wallet yourself or are curious about the process of developing a cryptocurrency app. In that case, this blog provides a step-by-step guide for creating a crypto wallet application.
Table Of Contents
Cryptocurrency is more than just a concept. Big brands, mainstream finance, and technology sectors are rapidly adopting it. Nowadays, people treat crypto like any other payment method, using it for online shopping, international transfers, donations, and online trading. People consider cryptocurrency an attractive option because it offers a secure method for record-keeping and commerce, without relying on a central authority or banking systems.
Although initially considered a niche and impractical idea, cryptocurrency is now regarded as a viable alternative to physical cash. Several governments of developed countries have established regulatory guidelines for cryptocurrencies, thereby legitimizing them as a financial asset. Due to the increased integration of cryptocurrency with banking systems, people now trust and utilize cryptocurrency more than ever.
Since cryptocurrency doesn’t rely on a central authority, it is relatively independent of the state economy. This independence and stability allow people in countries plagued by instability and poor economies to use a reliable, secure, and less inflation-prone financial system. Due to the numerous security and efficiency advantages of cryptocurrencies, it is only a matter of time before they entirely replace physical cash.
Nowadays, cryptocurrency is more utilized and popular than ever, directly increasing the demand for cryptocurrency wallets. Crypto wallets enable you to store, manage, and transfer cryptocurrencies efficiently and securely, making them a vital tool for individuals investing in cryptocurrencies.
Whether you are a developer looking to make a crypto wallet app or a business owner seeking to hire a cryptocurrency app development service, understanding the core development process is crucial. Following is a step-by-step process of creating a cryptocurrency wallet application:
Having a proper understanding of crypto and blockchain technology is required to create a robust cryptocurrency wallet app. Instead of diving headfirst into development, spend some time understanding complex blockchain concepts, wallet mechanisms, and basic terminologies used in the cryptocurrency industry, such as “Proof of Work, Proof of Stake, public key, private key, and token standard.” If you are well-versed in crypto concepts, you will have an easy time developing a crypto wallet app instead of getting confused whenever an unfamiliar word comes up.
To ensure the smooth development of your cryptocurrency app, start by clearly defining your goals and requirements. For example, if you are designing a crypto wallet app for ease of use and quick transactions, it will probably be targeted towards beginners. Beginner crypto wallet apps are unlikely to benefit from advanced crypto wallet features, such as NFT storage or multi-chain swaps. On the other hand, crypto wallet features such as built-in dApp browsers, token staking, and NFT galleries would be part of an advanced crypto wallet application designed with an experienced user in mind.
Once you have your goals and target audience in mind, create a list of features that you want in your application, such as account balance, two-factor authentication, QR code scanning, and support for cryptocurrency transactions. After this, sort your list by prioritizations based on user requirements and your development capacity/budget. Having a list sorted by priority will allow you to work on one feature at a time and help roll out essential features first, mitigating the risk of “Spaghetti Code”.
There are many types of wallets, including hot wallets, cold wallets, custodial wallets, and non-custodial wallets. Each of these types has a specific purpose and target audience. Once you have decided your application’s purpose and the audience you want it to cater to, choose the wallet type accordingly. For example, if you are targeting investors and large firms that wish to store their cryptocurrency for an extended period, consider using a cold wallet.
On the other hand, if you are targeting cryptocurrency beginners who find it complicated to manage their funds and keys, then you should opt for the custodial model. If you are confused about these wallet types, then fret not, they will be discussed in detail later.
There are around 10,000 active cryptocurrencies listed on CoinMarketCap. A crucial decision when you make a crypto wallet is to determine which cryptocurrencies and blockchain networks to support. For example, Bitcoin and Ethereum are the most popular cryptocurrencies; however, a significant number of users also hold assets in numerous smaller currencies.
Moreover, there are various blockchains, such as Solana, Polygon, and Binance Smart Chain, each with its own unique address format, fee structure, transaction speed, and technical protocols. Adding support for a large number of blockchains and cryptocurrencies can make your application more valuable and impressive, but will also significantly increase development time and app complexity.
Therefore, it’s crucial to choose specific currencies and blockchain networks, taking your target audience, capabilities, and budget into account.
Having a well-designed user interface is crucial for any application. A simple, attractive, and easy-to-use interface makes your application stand out, providing the user with a smooth and seamless experience. A confusing and cluttered user interface can negatively impact user experience, resulting in lower ratings and negative reviews.
The user cannot see how well you have programmed the application; all they can see is the user interface. If your user interface appears imperfect, asymmetric, or overwhelming, then all your effort has been for nothing. The following table is designed to help you understand what a well-crafted user interface looks like.
| Good User Interface | Bad User Interface |
| Smooth and quick transitions | Slow and abrupt transitions |
| Little to no distractions | Annoying pop-ups and promotions |
| Simple user interface with things shown to the user at one time | A cluttered user interface that overwhelms the user |
| Uniform colors, shapes, and sizes | Inconsistent colors, shapes, and sizes |
| Essential things like buttons stand out visually | Poor choice of colors, blending the buttons with the background |
| Familiar and repeating layout | Different layout in every menu |
| Confirmations for crucial things, such as transactions | Excessive or minimal confirmations |
| Tips for new users to understand the app | No or unnecessary tutorials |
To build a crypto wallet, it requires programming specific features that are used exclusively in crypto wallet applications. These features form the core of any crypto wallet application and pave the way for other, more advanced features. Security is essential in a cryptocurrency wallet due to its sensitive nature. A poorly programmed crypto wallet application without advanced security features can result in the loss of thousands of dollars due to hacking and malware attacks.
Basic features of a secure cryptocurrency wallet application include the following:
Performing a transaction in the cryptocurrency world requires two types of keys: “Public Key” and “Private Key.” A public key is like your crypto username, to which people send funds, while a private key is your crypto password, known only to you. When the user creates a wallet, these keys should be made private and stored in a secure location so that only the intended user can access them.
In a crypto wallet application, there must be an option to create a new wallet or import an existing one.
When using a crypto wallet application, you don’t directly use raw public and private keys for transactions. Instead, you use an “Address”. This address is provided by the application and is used to receive cryptocurrency. Many advanced apps keep changing this address to prevent someone from snooping on your account and make your transaction history anonymous. A reliable crypto wallet application should be able to manage these addresses efficiently in the background without being a headache for the user.
Cryptocurrency wallet development differs from other apps because, instead of connecting to a server like a standard app, a cryptocurrency wallet must communicate directly with blockchain networks. Blockchains are complex; to connect with them, you either have to run your full node (a computer that is a member of the blockchain) or hire a third-party service (Alchemy, Infura, Moralis) that already has these nodes and can provide you with essential tools to communicate with the blockchain. APIs and SDKs are such tools.
An API (Application Programming Interface) is similar to a user interface, but for your application. In brief, it acts as a communication layer between your application and the blockchain network. Just like how, instead of the backend, we interact with the user interface without knowing how things work behind the scenes, similarly, your application will interact with the API and call for actions such as sending crypto, checking the wallet’s balance, or looking up a transaction, and the API will handle the rest.
The SDK (Software Development Kit) is a combination of code libraries, utilities, and prebuilt functions that can help you develop your application more quickly. APIs eliminate the need to run your blockchain node, but you are still required to write your logic and manage these API calls. With SDKs, you can easily develop your application and use APIs by using built-in functions for everyday blockchain operations. To help you understand, think of an API like buying vegetables from the market instead of growing them yourself. You still have to chop them and cook them. The SDK is like a chef who can chop them for you so that you can focus on the cooking.
Instead of building an entire node infrastructure and writing complex code, app development companies use services such as Alchemy, Infura, and Moralis; you should too. This way, you can use a car without reinventing the wheel.
In any application, the backend powers everything by storing data, handling API calls, and processing. However, in a cryptocurrency wallet app, having a secure backend is essential, but not always necessary.
The backend is developed using secure and scalable frameworks, including Node.js, Django, and Spring Boot, allowing the system to expand as your user base increases.
Once the wallet is connected to a blockchain network, the next step is to implement the transfer system, which enables users to send or receive coins (cryptocurrency). The wallet application has to create a transaction object with the necessary details (sender’s and recipient’s addresses, amount to send, transaction fee).
When implementing this feature, speed and efficiency should be prioritized to ensure that the application manages timing, syncing, and data between the user and blockchain in real-time, so the user doesn’t notice the block confirmation delays. If you’re searching for blockchain app development cost, check out our blog to get a detailed breakdown based on factors like app type, location, features, and complexity.
Cryptocurrency wallet applications and financial applications in general require a robust and advanced security system to protect users from hacking and phishing attacks. Due to the digital and anonymous nature of cryptocurrency, it is nearly impossible to recover stolen cryptocurrency. Over the years, the crypto community has developed some best practices that minimize these risks. These practices include the following:
If a private key falls into the wrong hands, it can lead to theft, scams, and other losses. Private keys should be treated with utmost care; they should be generated privately and stored in a secure location, locally on the user’s device.
User verification allows you to verify if the user attempting to access the application is indeed the actual owner. Relying solely on passwords is no longer enough; they can be leaked, stolen, or guessed. To prevent unauthorized individuals from accessing the wallet, utilize advanced security methods, such as fingerprint and facial recognition. However, ensure that the app is secure enough to deter intruders while also being easy for the actual owner to log in.
Seed phrases are composed of random numbers to prevent password guessing, but also make them extremely easy to forget. Your crypto wallet app should include an option to back up the seed phrase, ensuring the user doesn’t lose access to their account.
Data transferred between the backend and the application is often sensitive. If left in raw form, someone can easily intercept and steal it. Using encryption on transferred data significantly reduces the likelihood of being hacked or having your data stolen.
Just like financial departments, the crypto industry is also heavily regulated by the government to prevent scams and fraud. Before launching your cryptocurrency wallet, ensure that it complies with state and federal laws regarding digital finance, as failing to do so can result in fines, bans, and even legal action. The following are some examples of these regulations, but it is essential to consult with legal experts and stay informed about the latest cryptocurrency laws.
The Know Your Customer (KYC) principle dictates that the application should verify the user’s identity before granting them access to features such as buying, selling, or withdrawing cryptocurrency. A user can be verified using their government-issued ID card, a personal photo, address, phone number, or other relevant information. KYC helps combat scams, phishing attacks, and fraudulent activities.
Complying with Anti-Money Laundering regulations is necessary to operate legally in many regions, including the United States. AML laws are designed to detect suspicious transactions, track user behavior, and report illegal activities and felonies, especially money laundering and terrorism financing.
A crypto wallet application must also comply with data protection laws to operate legally. These regulations aim to protect user data and prevent it from falling into the wrong hands. These laws encompass global standards, such as the GDPR and CCPA, as well as state-specific regulations. According to these guidelines, the app should use, store, and manage user data in accordance with privacy regulations that include transparency, user consent, and secure data handling.
In some regions, operating a custodial crypto wallet application, where you control the users’ funds and data on their behalf, is considered a financial service. Starting a financial service may require you to obtain relevant licenses from government authorities, agree to audits, and meet operational standards.
Instead of releasing your application directly to the public, develop a working build first, and use it to perform extensive testing. Test essential features such as sending/receiving crypto, creating a new wallet, importing an existing wallet, and checking the balance.
Simulate various scenarios, such as heavy traffic, slow network connections, failed transactions, and hacking attacks. Moreover, test your product on multiple devices and platforms to ensure it functions properly at launch.
Even after launch, continue to monitor your application’s performance, resource management, and reviews to identify bugs and crashes. Take user feedback into account while fixing issues and rolling out new updates to keep your application competitive and successful.
Once your application is ready for public use, the next step is to launch on your desired platform/platforms. To launch your application, you need to create a developer account on your preferred app store (Apple App Store or Google Play Store), create an app listing, set up a dedicated store page, and add descriptions and relevant screenshots for users.
You must pay for a developer account, cover publishing fees, and ensure the application complies with the store’s policies to get the store to approve your request. Once approved, your app will go live, and users will be able to download your application and leave reviews.
Contrary to popular belief, launching is not the final step of cryptocurrency app development. Regular support and maintenance are crucial for attracting a large user base and enhancing customer satisfaction. The mobile app market is not stagnant; over time, development trends come and go, user interests shift, and new ways to hack and sabotage emerge.
Your code can become outdated and may become unfit to handle cryptocurrency. Slowly implementing new features, security patches, and performance improvements based on user feedback will help minimize the risk of your app becoming irrelevant.
Crypto wallets come in various shapes and sizes. It’s essential to choose the correct wallet type, depending on your goals and target audience, to prevent miscommunication and rework. Crypto wallets are classified in two ways: by connectivity and by custody.
Crypto wallets are categorized into two types based on their connectivity to internet services. These types are the following:
Hot wallets are connected to internet services, making them accessible anytime, anywhere. These wallets enable users to send, receive, and trade cryptocurrencies at high speeds, making them convenient for both regular users and active traders. However, this convenience is a double-edged sword, as hot wallets are more susceptible to hacking, phishing, and malware attacks than cold wallets. Although security features, such as two-factor authentication and the use of strong passwords, can help minimize the chances, the risk of getting hacked remains.
On the other hand, cold wallets are entirely offline. Since they are not connected to the internet, they offer exceptional protection against cyberattacks. This protection makes them an attractive option for individuals seeking to invest or store their cryptocurrency for an extended period. However, they are not recommended for daily use, as the wallet must be connected to a computer or network every time you want to make a transaction.
Based on who controls the private keys, crypto wallets are categorized into two types. These types are the following:
Custodial wallets are like a banking system. These wallets allow beginners to use cryptocurrency without the responsibility of managing their security. Third-party providers that are experienced in cryptocurrency security hold customers’ private keys on their behalf. These third-party services provide password recovery, customer support, and transaction management. However, this means that the user must trust the company and follow its terms and conditions, which directly contradicts the spirit of “no central authority” in blockchain technology.
Non-custodial wallets give users complete control over their cryptocurrency assets. The user has full ownership of their private keys and is not bound to any terms and conditions. These wallets are favored by experienced users and cryptocurrency enthusiasts who frequently interact with decentralized applications (dApps) and decentralized finance (DeFi) platforms. However, this control comes at the risk of losing your account. If a user loses access to their wallet or forgets their seed phrase, there is no way to recover the account.
Each platform facilitates the development of a distinct application type and is home to a unique kind of user. Depending on your application and target audience, you may want to prioritize one platform over the other.
For example, if your application’s primary focus is the convenience of beginners, then iOS or Android would be a better choice for you because mobile phone users often prioritize ease of access and convenient usage. The following is a detailed breakdown of the wallet types and target audiences suitable for each platform.
Mobile devices are the most common devices because they are easily accessible and offer robust security features such as fingerprint and face scanning. These platforms are ideal for a wallet intended for daily use, such as checking balance, receiving, and sending crypto. Individuals who want to use crypto wallets casually for daily purposes without delving too deeply into the technical side often prefer these types of wallets.
Desktop platforms are typically used by users who prefer performance and functionality over ease of access. These devices offer more processing power, large storage capacity, improved multitasking capabilities, and support for advanced features such as full node integration, detailed transaction tracking, multisig support, and compatibility with hardware wallets. Advanced users and crypto enthusiasts often make their crypto wallets on desktop platforms like Windows or Linux. Desktop wallets are suited for miners, investors, and business owners who require constant access to large cryptodatabases and detailed analytics.
Crypto wallets developed as a website work directly within an internet browser, eliminating the need for external software or downloads. While they are not as convenient as mobile applications nor as functional as desktop wallets, they still provide a fair balance between accessibility and features. Moreover, they are platform-independent, meaning they can be run on any platform, providing great versatility. They are commonly used by users who want to manage multiple wallets simultaneously, conduct quick trades, or interact with decentralized applications (dApps). Web-based crypto wallets are best for casual and intermediate users who want a convenient and flexible experience without compromising on functionality.
Cross-platform development refers to designing an application using a single base code that works on multiple platforms. Cross-platforming can offer users convenience and flexibility. For example, a user can check their wallet on their work laptop in the morning and on their mobile phone in the evening. For developers, cross-platforming ensures your app is consistent and uniform across all platforms, making it easier to roll out new features compared to traditional single-platform development. Although developing a cross-platform crypto wallet application can be expensive initially, it ultimately proves to be less costly than creating separate applications for different platforms.
Having a crypto wallet application without useful features is like laying a foundation for a building but not finishing it. Having advanced and functional crypto wallet features can help your application stand out in the vast market. Your crypto wallet application should feature more than just security, transactions, and wallet creation. Following is a list of features that are must-haves for a crypto wallet app.
Having a clean and easy-to-navigate user interface is essential for a crypto wallet app, especially if it’s designed for beginners and new users. Animations should be smooth, buttons should stand out, layouts should be familiar, and menus should be self-explanatory.
For the user, navigating the user interface and performing basic tasks, such as transactions and viewing balance, should be easy, not like finding a needle in a haystack. Having a poorly designed and messy user interface can elevate the risk of user error and decrease user satisfaction.
A crypto wallet that supports a wide variety of coins allows its users to manage all their crypto from one application, making it an attractive option compared to its competitors. However, be sure not to invest in support for more currencies than you can handle, as developing support for additional currencies requires time and resources. If you are not careful, you can significantly increase the cost of your cryptocurrency wallet application.
You should aim for a nice balance between crypto support and cost-effectiveness. Develop support for popular mainstream coins like Bitcoin and Ethereum, but don’t pass on trending altcoins like BONK and SaucerSwap (SAUCE).
Lately, push notifications have been getting increasingly used by mobile applications. They are essential to keep the user up-to-date with the latest information and updates. In a cryptocurrency wallet application, notifications can alert users of successful transactions, market changes, and suspicious activity. New features, software updates, and promotional campaigns can also be displayed via push notifications to keep users engaged and informed.
Putting your money in a crypto wallet application that doesn’t have top-notch security is as good as leaving it on the porch. A secure crypto wallet not only incorporates core security measures, such as PINs and passwords, but also features advanced security, including encryption, biometric authentication, and two-factor authentication.
A secure crypto wallet application ensures that the users’ hard-earned money and digital assets are safe online, especially in a world where scams, phishing, and malware attacks are getting increasingly common.
One of the must-have features of a cryptocurrency wallet is the ability to swap currencies. Having a built-in way to convert between different cryptocurrencies not only provides a means of monetization but also allows you, the user, to conveniently obtain the crypto of your choice without leaving the app or using a third-party application. For example, a user trying to exchange ETH for BTC can do so easily. A currency swap is beneficial because of the fast-moving and unpredictable nature of cryptocurrency; having a quick currency swap service can minimize user losses.
Solving customer issues, such as transaction problems and recovery issues, efficiently and quickly, is key to making your wallet a viable option on the market. Having a robust customer support service that handles users’ problems with care and regard is highly appreciated, as even minor errors in a financial business can cause significant distress to the user. Providing an extensive customer support service that utilizes multiple platforms, including email, in-app live chat, and calls, as well as offering communication in various languages, ensures that your customer base remains satisfied and loyal.
Monetizing your application is the end goal of your development process. Once you have invested thousands of dollars in your application, monetizing smartly can yield net profit in no time. The following are several ways to monetize your application:
Although it is no longer as popular, charging a small transaction fee is still a viable way to earn money. While the majority of transaction fees are directed to the blockchain network, wallets can still charge a slight service fee with every transaction to compensate for their services, such as convenience, background processing, and transaction support.
Crypto wallets often include a swap feature that allows the user to exchange their cryptocurrency for another without leaving the application. Crypto wallets can charge a specific amount or a small percentage on each of these conversions. This monetization model allows the wallet to earn income without placing a burden on users.
Third-party services, such as cryptocurrency exchange services, DeFi platforms, and NFT marketplaces, often partner with crypto wallet apps. NFTs, especially, are a booming business, and many celebrities, such as Cristiano Ronald, have created their NFTs using crypto wallets. Crypto wallets advertise and promote their services on their platform, earning a commission for every sale directed by a user to these services. This method enables both wallet application owners and third-party services to generate revenue without requiring direct user charges.
Crypto wallet app owners can lock certain features, such as crypto swapping, live trading, and backups, behind a paywall. The app is usually entirely free to use, but users must pay to access these specific features. Crypto wallets often offer users a free trial of premium features, typically lasting around one to two weeks.
This trial is a tactic to hook the user and make them feel the absence of these features when using the free version. Apps like Spotify, Notion, or Grammarly use this strategy and have been very successful. There are two ways to monetize these premium features:
Wallets controlled by a third-party service often offer additional features, such as purchasing cryptocurrencies with a credit card, earning interest on an account, and providing crypto loans. Users pay for these services through a subscription or a fixed rate on transactions, interest returns, and account maintenance. In this method, revenue is generated primarily from custodial services, and wallet actions are often provided at no cost.
Wallets that are very popular and have a large user base become a platform for advertising. Startup crypto projects or new crypto coins often pay the wallet application to list their coins on something like a featured page.
Coin creators can utilize the wallet application to host giveaways, promotions, and events, thereby advertising their currency to a broader audience. In return, the wallet receives a small commission on the sales made through their app.
Building a cryptocurrency wallet application is a complex process that requires a deep understanding of blockchain systems, thoughtful planning, and technical expertise. As cryptocurrency gains rapid mainstream attention, developing a wallet app for crypto users has become a highly lucrative business. Due to the popularity and saturation in the cryptocurrency app sector, having a well-designed, secure, and reliable application can give you a much-needed edge over your competitors.
This guide provides a step-by-step process and helpful tips for individuals seeking to develop their crypto wallet application and capitalize on the growing cryptocurrency market. With the help of this guide, you will be able to create a high-quality product that is secure, modern, and functional, and stands out from other crypto wallet apps. If you are looking for a mobile app development company to help with your development, partnering with Trango Tech can help you create a scalable mobile app for your business.
There is no exact amount to create a crypto wallet app. A simple crypto wallet app with basic features, such as transactions, balance checking, and wallet creation, can cost as little as $30,000. In contrast, an advanced application with advanced security features, encryption, and token staking can cost upwards of $100,000. The development cost of a crypto wallet application depends on factors such as complexity, features, type (custodial/non-custodial), security, and the number of supported blockchain networks.
Yes, most cryptocurrency wallet websites/applications allow users to create a wallet without any cost. However, when sending crypto over the blockchain, you still have to pay a small transaction fee. For example, if you want to send 1 ETH to someone and the transaction fee is 0.003 ETH, you would have to pay 1.003 ETH, and the receiver will receive 1 ETH. These fees are not charged by the wallet application but by the blockchain network.
Instead of charging a fee on transactions, crypto wallet applications generate revenue through multiple channels. They offer a crypto swap feature that allows you to instantly convert one cryptocurrency into another, eliminating the need for an external exchange. Crypto wallet apps will charge a small transaction fee for swapping. They also partner with crypto exchanges, earning a small commission when their users buy or sell crypto.
Some crypto wallet features can be locked behind a paywall, asking for a one-time fee or a monthly subscription to unlock them. Crypto wallet applications with token staking can also take a small percentage of the user’s rewards.
The time required to develop a cryptocurrency wallet app, or just any application in general, depends on its complexity and features. Basic features such as wallet creation, balance checking, and transactions are relatively easy and quick to implement. To develop a basic application, it will take 2-3 months. However, advanced security, token staking, and NFT integration can significantly increase development time.
Moreover, the number of cryptocurrencies and blockchain networks a crypto wallet support is directly related to the time of development. Keep in mind that hiring a skilled and large development team can significantly reduce the time required to make a crypto wallet app.
Table Of Contents
Zarar is a tech enthusiast, athlete, content writer, and a self-proclaimed indie game critic. He is a person who values and appreciates quality, whether it's in the media he consumes or the content he creates. He started as a freelance ghostwriter and has since transitioned to a writing position at an app development company. When he's not at work, he's usually found watching obscure documentaries or browsing for things he can't afford.
Fill out from below with your details to start conversation with our expert.
Fill out from below with your details to start conversation with our expert.
