Another way out can be a technology that allows you to automatically sign out the user after short period of inactivity. Cloud based backup (Dropbox etc.) and cold backup (SD Cards etc.) Although cloud backup is more convenient, cold backup is a safer option. There are two ways of backing up your digital assets. Which usability features can enable your wallet app to provide pleasant, convenient, and fast experience? easy to recall the user interface and how to use it on subsequent visits.easy for users to achieve their objective.easy for the user to become familiar with the website/application.According to Interaction design foundation: “Usability is part of the broader term “user experience” and refers to the ease of access and/or use of a product or website.” There are three parameters when it comes to achieving great usability: This adds a layer of security.īesides security, another most important thing to consider is usability. If case of denial, the transaction should be declined. Like the modern banks, you can provide the functionality of confirming a transaction whenever an unusual amount is deducted from your customer’s account, asking them if they would like to continue the transaction or not. To allay the chances of hacking, it is advisable to keep the private key local on user’s own device. Storing the private key on a third party server gives an open invitation to hackers. This is important because mobile devices can be easily dropped, left behind or stolen, and your funds might go into wrong hands. The user should be automatically logged out after short period of inactivity on the wallet app. Just like banking sites, a cryptocurrency wallet should allow automatic session logout. Two factor authentication, or 2FA, adds a third credential: a unique one time use code that is also required to access your wallet along with the password and identifier. While these might be enough, considering additional parameter would augment the overall security. Let’s look into each one of these features individually:īy default, the only two pieces of information required to access a Bitcoin wallet are an identifier and a password. Integration of security features - like two-factor authentication, timed logout, client-side private Key, and denial of repetitive payments - into a wallet would make a wallet secure and trustworthy. How can your wallet app address this issue? Cryptocurrency wallets should be reinforced with the right security features as even a small compromise on security would lead to permanent loss of crypto assets that cannot be restored. These features can be categorized based on security, usability and functionality.Įvery finance-related application, whether crypto or non-crypto, needs to be fortified with security in order gain credibility and acceptance by target audience. We have enlisted the features of a wallet that will help you analyze each and every aspect of building a Bitcoin Wallet App. Businesses/Companies - who want to launch crypto wallets as a standalone application for crypto users.Ī Bitcoin wallet app is a result of all the features put together to build a solution that allows users to store their cryptos at a place that is inaccessible to unauthorized people, easy to use and looks appealing at the same time.Traders - who need a safe and secure wallet to store their digital assets for trading.Exchange Owners - who want to link a wallet to their exchange to enhance its security and provide their users with secure place to send, receive and store their crypto assets, outside of the exchange. This is when a cryptocurrency wallet fills the bill.īitcoin wallets have become a necessity for: The increasing cryptocurrency adoption and the growing popularity of crypto trading have led to an indispensable demand for a secure place to store crypto assets. How to Develop a Bitcoin Wallet App - An Expert Guide
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