There are numerous crypto wallets in the crypto space to accommodate growing user needs, such as Metamask, Coinbase, and more. However, the crypto space is evolving rapidly with, for instance, NFT development being the latest addition to it. 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.
Crypto Wallet Features
Since we have already covered the basic features of crypto wallets in our earlier blogs, we will only focus on the latest features. Now, let us get into a few most critical features that we should consider during a crypto wallet app development:
Connectivity with NFT Marketplaces
Traditional crypto wallets cannot connect with non-fungible token (NFT) marketplaces. Considering the high demands of NFT trading, a crypto wallet should be capable of enabling NFT marketplace connectivity.
Built-in Web3 Browser
Another must-have crypto wallet feature is a built-in Web3 browser. It gives users access to blockchain games and dApps. This feature facilitates easy NFT trading. So, users can purchase and store their tokens from a single place.
Also, Read | How Web3 and Blockchain are Transforming Gaming
Staking
The staking feature in a crypto wallet lets users securely stake their digital currencies. Additionally, it allows users to participate in the trading process within decentralized finance (DeFi) platforms.
Lightning Network Integration
Wallets integrated with lightning network integration offer fast transactions. It facilitates off-blockchain transactions among users.
Daily Interest
Many users are opting for crypto wallets that offer daily interest. So, businesses may provide crypto saving accounts with high annual percentage yield (APY) rates.
Price Tracking
Another crypto wallet feature is price tracking. It lets users monitor the total value of cryptocurrencies in real time. Additionally, users can track transaction history.
Decentralized Apps (dApps) Support
Firms can build crypto wallets that give direct access to decentralized apps. This feature requires multi-session functionality and blockchain interoperability support. It will enable users to easily trade tokens that are only offered by the decentralized exchange (DEX) platform.
Also, Read | dApp Development | Your Guide to Decentralized Applications
Credit Card Support
Many people find it convenient to have credit card support in their crypto wallets. They can easily purchase any cryptocurrency with their credit card. So, this feature is another must-have for a versatile crypto wallet.
Direct Deposit
The direct deposit feature in a crypto wallet lets users transfer a part of their paycheck or complete paycheck to their account. Users can choose to convert their paycheck into an available crypto asset.
Excellent Localization
Developing a crypto wallet that suits the needs of a particular area or region can make your product distinct from other crypto wallets. You can tie up with a local bank where you have a strong presence. This merger can attract people who are new to the crypto world.
Customer support
Needless to say, customer support is a crucial component of making the best crypto wallet. Giving quick responses to your customers’ queries can significantly impact your business in a positive way.
Customizable Transaction Fees
Customizable transaction fees can attract many people to use crypto wallets. This feature lets users decide on the transaction fees. If a user needs a quick transaction then they will have to pay more.
Also, Read | Increasing Inevitability of Multi-Chain Crypto Wallet Development
Conclusion
Blockchain has made crypto transactions practical, useful, and convenient. However, as the number of crypto users is increasing, so is the number of crypto platforms. So, it becomes competitive to develop and launch your crypto wallet. Here, our comprehensive knowledge of crypto wallet development can help you. So, if you are interested in building a decentralized crypto wallet for a platform, then connect with us today.