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In 2009, Bitcoin emerged as the world's first decentralized cryptocurrency, taking power away from government and central bank officials. Three years later, after its popularity had peaked, Namecoin and Litecoin were introduced as alternate currencies.
During its early stages, the first units of Bitcoin cost very little. Back then, when one of the first Bitcoin users decided to get rid of his tokens, he traded 10,000 tokens for two pizzas. Now multiply that by 38,628 USD (the price of a single Bitcoin at the time of this publication) and imagine what it would feel like.
Not long after the popularity of bitcoin, many people started showing interest in this unconventional form of investment. By March 2022, there will have been more than 10,000 different cryptocurrencies created and all of them are continuing to grow.
Though there are many ways to trade, invest, earn, and manage cryptocurrencies, crypto apps are by far the easiest and best way to simplify the complexities of the cryptocurrency market.
And in this blog, we will share the best 8 features a cryptocurrency mobile app must-have. But before that let’s have a glimpse of cryptocurrency and the technology behind it.
So, let’s get started!
What is Cryptocurrency?
Cryptocurrencies are digital currencies based on blockchain technology and secured by cryptography, making them hard to counterfeit and difficult to re-spend.
They follow a decentralized system which means it is distributed among a set of systems that are connected via a network. In the coming times, this technology is likely to create major changes in the finance and law industries.
Let's jump on to the key aspects of the cryptocurrency app through which you will be able to trade cryptocurrencies now that you know what a cryptocurrency is.
Key Features of Cryptocurrency Mobile Application
Security, Functionality, and Usability are the three utmost important pillars of a mobile application. To keep these concerns in mind, we have listed the following features:
Integrate Registry Lock
A new Domain Lock feature, called Registry Lock, secures your domain by locking it at the registration level itself. It prevents unauthorized changes to your domain name from hackers.
When you initiate a request to make changes to a domain, the registry, registrar, and registrant must perform three security checks in order to complete your request. If any one of these entities is compromised, your ability to make changes to the domain may be halted. And this way you may achieve the highest level of security.
Disprove Repeated Payments
Payments are sometimes duplicated when users attempt to send funds to the same address. If a user tries to send funds to the same address more than once, it’s likely that they’re trying to cheat the system.
Any good crypto wallet application should automatically generate new addresses for each transaction. Any repeated payments should be immediately disapproved. This way you can help to protect from the most common types of bitcoin fraud.
Accessible QR Scanner
Including the QR scanner in your crypto application can make the lives of your users much simpler and more convenient. To accommodate different uses of QR codes, the app can distinguish between different scenarios.
For example, if someone scans a public key, we'll send them to a page where they can deposit money. If they scan a private key, they'll get the option of sweeping their funds.
Cold Wallet
While we make sure your cryptocurrency app has the best security available, cold wallets offer you extra protection. Cold wallets are disconnected from the network and therefore can't be hacked. If they're connected to your app, hackers would have to hack both in order to steal your assets.
Integrating cold wallets with app features like multi-signature authentication and biometric-enabled authentication can boost security.
Robust UI
While using an application of any kind, UI matters.
When building a cryptocurrency app, remember that you are creating an application for end-users. Your app’s look and navigability, help resources, and overall appeal should be on your mind.
A simpler, easier-to-use interface will boost the impression rate for your app.
Keep updated with push notifications
Push notifications are essential for apps to stay relevant. They enable users to get the latest news about the coins.
For example, if users have set a task to send coins to someone else and did not finish it, they will be notified in case the price level has changed since they started the task.
You can add customized alert options for users to make them less irritative and more engaging.
Powerful Backups
It's a good idea to let users have powerful backups and make copies of the digital wallets that store their digital assets.
When customers back up their wallets to safer storage such as Dropbox or Google Drive, they're securing their funds better than they would on an SD card. And with integration like that, it's easier still.
Cross-Platform Compatibility
When designing and creating a crypto wallet application, it is important to decide how the application will be constructed.
Do you want to create separate, platform-specific designs for iOS and Android? Or use a single cross-platform model to develop an application that will run on both iOS and Android operating systems.
We recommend the second option. It is more convenient and will save you a lot of time and effort.
Wrapping-Up
Building an advanced technology-based app like a blockchain can be a time-consuming process.
To speed up the app creation process this is the best app development company.As a client, you can share your plans, budget, and expectations, and they will ensure that the resulting crypto app is secure, reliable, and works well.
We hope you found this blog informative! If you have any questions, feel free to ask in the comments section below. We will respond to you shortly.
Author Bio
Naveen is the marketing and product head at JoomDev. He is working with JoomDev, a leading web and mobile app development agency. He loves to convert his ideas into reality by developing WordPress plugins such as Mighty Addons for Elementor which helps you to supercharge the power of Elementor page builder.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.