Development of a crypto wallet with an exchanger

A cryptocurrency wallet can be compared to a bank account, only for working with digital assets. With it, you can store cryptocurrency, exchange it, as well as send and receive payments.

Technically, a crypto wallet is just an interface for managing cryptocurrency, and the coins themselves are not stored in it, but on the blockchain. The wallet itself has keys that give a person the opportunity to manage part of these funds. For example, if there are 10 BTC in the wallet, this means that out of the huge amount of bitcoins that are on the blockchain, ten belong to the user himself.

There are several standard tasks that a crypto wallet with an exchanger should perform:

• buying and selling digital currencies;
• maintaining a trading account in different cryptocurrencies;

• execution of exchange transactions;
• replenishment of digital currency using fiat funds;
• withdrawal of coins to fiat;
• sending and receiving payments;
• carrying out trading operations using cryptocurrencies.

When developing a crypto wallet, we, at AVADA MEDIA, first of all focus on the needs of a particular business, and we can implement any functionality that you need for work, taking into account further scaling. To do this, each task is carefully analyzed and the optimal technology stack is selected.

There are four most common types of cryptocurrency wallets, each of which has its own characteristics and advantages:

• Web wallets. They work directly in the browser, due to which they are as accessible as possible and do not require high computing power from the user’s device.
• Mobile. As the name implies, they are a mobile application that is installed on a smartphone. They are convenient, easy to use and have a high level of security.

• Desktop. This is the most functional type of crypto-wallets, which often does not require a network connection. This is ideal for those who most often make transactions from a computer or laptop.
• Hardware. They store private keys on a separate device that is physically connected to a PC to complete transactions.

To develop a crypto-wallet, AVADA MEDIA specialists use modern technologies. The stack can change depending on the characteristics of each individual project and the tasks that it faces, but most often the preference is given to the Python and JavaScript programming languages,

the Node.js software platform, as well as the Angular, React, React-Native and Vue.js frameworks. The development of a crypto wallet with an exchanger consists of 7 main stages. Let’s consider each of them in more detail.

Technical and business analysis

Before starting programming, a deep analysis of the client’s requirements is carried out, which helps developers determine the purpose of the wallet, its relationship with the blockchain project, and technical implementation features.

Drawing up technical documentation

Based on the data obtained, the technologies that will be used in the development are determined and a project implementation plan is drawn up. At the same stage, the cost of work and terms are formed.

Design

Project design helps to form an idea of what a cryptocurrency wallet will look like after implementation, what interfaces it will consist of and how they will interact with each other. In addition, this step determines how the interface will be connected to the backend of the wallet and the transaction processing logic.

User interface design

Designers create a visual shell of a cryptocurrency wallet with an exchanger that end users will interact with.

This stage includes the selection of fonts and corporate colors for the future application, the development of basic interface elements such as menus, icons, buttons, graphics and their location on different devices.

Designers are also working on CJM. This is a “customer journey map”, which determines exactly how a person will use the software product, starting from the first launch of the wallet and ending with the implementation of the target action – payment, transfer of funds or exchange of coins.

Technical development

When the design is ready, the programmers start the technical implementation of the project. Cryptocurrency wallet coding can be divided into two main parts:

• Frontend development. With the help of program code, developers translate the design layout into an interactive interface that the end user can interact with.
• Backend development. Programming the server part, which contains the entire logic of the project. The backend also includes the creation of services that provide interaction between the wallet and the blockchain, and smart contracts, if necessary.

Testing

When the development is completed, the crypto wallet is tested by QA engineers who check the project for bugs, usability and security level. If problems are identified, they are promptly eliminated by the developers.

Deployment

When a cryptocurrency wallet is fully tested and the development team is satisfied that it works as intended during the planning stage, the project is deployed and made available to users.

Technical support and development

After the release, the technical work on the project does not end, because at first, users may discover hidden bugs that were not previously discovered and need to be improved.

In addition, after a few months, the current functionality of the wallet may not be enough to work effectively. In this case, the developers release additional patches and updates aimed at improving the project.

AVADA MEDIA has extensive experience in developing blockchain solutions – from small wallets to large cryptocurrency exchanges. For the development of each project in our company, a separate team of specialists is

involved, whose specialization corresponds to the chosen technology stack. After the completion of production, we can also engage in marketing promotion of the project.