The world we live now is turning to be more digital. All we got to do is just to keep up and to move at the same pace. Now, we already can’t imagine how to do many basic things without our phones and our applications. Things like communication, shopping, booking, etc, are already managed by our apps. But how about banking?
These days it is impossible to think of a simpler banking system than a digital one. And it is harder to think a better way to manage your mobile payments than to use Bitcoin and Blockchain digital currency. And, of course, we have prepared a brief guide for our readers, especially for our entrepreneur readers, explaining why they should integrate Bitcoin as a payment option in mobile app, or even develop own Bitcoin wallet for mobile app they have. So let’s start with explanation of what this app is about, why it is good for business and, finally, how to build a Bitcoin wallet app and how much it costs.
What is Bitcoin wallet app?
Digital money can be used to make any transactions you want. The issue here is in simplicity and convenience of the system you use as well as its trustworthiness and popularity in the world. Fortunately, Bitcoin has it all. But let’s have a closer look. The digital system works in only two steps.
The first step is transferring money from your bank account to your digital wallet. It is very fast to achieve since you can buy bitcoin online through a currency exchange. Once it is done you are ready to move to the second and last step. Make payments. That’s it. As we see its function is very easy. Along with simplicity, the system also has such benefits as:
- Anonymity – you know only the address of the wallet but not who owns it;
- Decentralization – all the transaction in cryptocurrency are not under the governmental control;
- Safety – users aren’t asked to include any secret information during transactions;
- No inflation – the money turnover does not go beyond 21 million;
- Accessibility – by far it is the most popular financial application in the world;
So if we caught your attention and now you are wondering how to create a Bitcoin wallet app we can move on to the next stage.
Developing a cryptocurrency app
This is actually not that difficult as the one can imagine. First of all, the majority of such applications are built with the help of libraries which are used as the foundation of a standard Bitcoin wallet. This API is necessary for a successful and fast synchronization of the wallet with blockchain. Which in its turn ease the transaction processes.
Among developers, Chain-java is quite a popular choice. But don’t be deceived by its name, the fact that it is a Java library doesn’t mean that you can build a Bitcoin wallet app for Android only. This library is also great for creating a common module with the further purpose of converting it in Objective-C for those who want to create a Bitcoin iOS wallet application. Therefore, it is not that time consuming or particularly costly to build a cryptocurrency application for both platforms.
Before we move on, there are a couple important notes we would like to make. First, the bitcoin is an open source software which means that everyone can change the code according to personal preferences and write an app from the scratch.
Which leads us to the second point here – you always can stick to a more independent, personalized version of the app. In this case, the use of standard libraries is not recommended. Such development is definitely harder, it takes more time for completing all the modifications and a lot of professionalism. Which also raises its price in a few times. However, such custom cryptocurrency wallet will perfectly suit all of your requirements.
In any case, all projects of this kind will have to go through a similar development process. which consists of such stages:
- Installation of the API for syncing with the Blockchain;
- Actual creation of the bitcoin wallet;
- Setting permissions for the transactions (outgoing and incoming);
- Integrating a standard set of programs for managing the transactions (address generation, balance checking, etc).
Integrating Bitcoin as a payment option
There is an opportunity to use digital wallet in case you do not want to create an app from scratch. You can integrate this wallet as a payment option. The most popular companies, like Amazon, WordPress, and many others, have already done it.
It is a perfect option for those who do not want any instabilities that come from holding onto the cryptocurrency. By using Bitcoin just as a payment option you can exchange crypto currency and transfer already actual money into your bank account the moment you receive the payment. It became possible due to the various payment service providers that you can integrate into the application.
PSPs make the whole process of selling and buying digital money very easy. Moreover, they can be customised to be in the native (to the bank) currency of the merchant meaning that the system is able to exchange them and transfer already flat money to the account.
Custom bitcoin wallet applications
For many Bitcoin wallet application has already become another successful step into the future. It is one a few payment systems that can make transactions almost all over the world. It is easy to use and, what’s more important, absolutely safe. It also has a secure base, independence from any external factors and internal stability, exchanging fiat currency into cryptocurrency was never so beneficial.
So if you on the same page with us, contact our company today. We are ready to provide you with any custom development services you might need. We are LunApps – a modern Eastern European mobile development company. Our team of professional web developers has a great experience in creating application like digital wallets along with many other types of apps. Feel free to get in touch with us if you need more information on how to make a Bitcoin wallet application or ready to develop your own mobile app. We are looking forward to our future cooperation.