Java Bitcoin Wallet Api
Read Also ⚙️ Developing a Mobile Bitcoin Wallet: What is It and What Features should It Include? Mobile banking has never been as popular as now. According to, the number of users who actively access mobile banking services only in the USA reaches more than 110 million people.
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Take a look: Mobile banking users And it’s easy to explain! Today you don’t have to visit a bank, wait in line and fill in some papers to send money to your aunt who lives at the other end of the country. Nowadays it’s possible to send payments and manage your bank account with a few taps and even without getting up from the couch. So, the app you’re going to build is some kind of a “banking app” but for the cryptocurrency. With its help users should be able to buy, send and receive Bitcoins as well as spend them for online shopping as simple as with usual money. Therefore, it defines the most important features for the MVP Bitcoin application development.
Let’s review them! # 1: Authorization 🔐 This feature is pretty well-known and used in almost any application, so I won’t spend a lot of time talking about it. Make sure that the authorization process is secure ( image by ) Just remember, that the sign-up/log in process creates the first impression. If it’s too slow or complicated users may abandon your app even before they enter it which will ruin your all others KPIs as well.
So don’t take it lightly. # 2: Improved Security 🛡️ When we’re talking about Bitcoin app development, perfect protection of users’ personal data is the crucial feature for such an application. Because it doesn’t matter how fast and flawless the app works, how nice-looking and user-friendly its UI is and how many cool features your application includes - only one hack would be enough to destroy the reputation and get sued by users. Moreover, one of the main features of cryptocurrencies is anonymity.
Everyone can see what transactions were sent to a particular wallet, but at the same time it is impossible to know the real owner of this purse. However, if the database of your users is stolen, the thieves will see the matching of users with their wallets that will destroy all anonymity.
Here are a few ideas that you can implement to improve security when you develop a Bitcoin wallet:. Offer users 2-factor authentication. It may require confirming the login process with a mobile number, PIN or Touch/Face ID.
Implement auto-logout feature. It’s a smart way to prevent anyone from using users’ digital wallets if the smartphone was lost or stolen. Make sure your app generates a separate public key for every transaction. With public keys created for every new transaction you build an additional level of protection against frauds and hacks. # 3: Wallet 👛 We decided to gather all main features that are necessary to make a cryptocurrency app under one name - a Wallet. Think of it as app’s body since it allows:.
Buy or sell digital currency at the current exchange rate using connected PayPal or bank accounts, credit and debit cards. Send Bitcoins to other users and receive cryptocurrency from them. See your current balance and the history of transactions. Example of a digitial wallet ( image by ) No doubt, that if you make a Bitcoin wallet app this feature is the central one.
Keep on reading, cause a little bit later I will share with you how to implement the Wallet from the technical perspective. # 4: Conversion Rates 💱 Bitcoin exchange rate changes every day and over big periods of time the difference is more than significant: Dynamics of the bitcoin rate During one day or even several hours your purchase or sale can turn from super-lucrative to very unprofitable. That’s why you should develop a bitcoin app with built-in actual exchange rates. Moreover, you can go even further and provide some additional functionality.
Java Bitcoin Wallet Api
For example, show users how conversion rates have increased or decreased since yesterday, over a week or a month. This will allow users to forecast further course changes and to exchange the cryptocurrency at the most favorable rate. You may even try to predict the future rate using ML algorithms (although this is difficult because it is very volatile).
# 5: QR-codes for Fast Transactions 🤳 Frankly speaking, it’s possible to create a Bitcoin wallet app without this feature. However, users will appreciate if your application has one. Because it makes transaction processes even easier! All they have to do in this case is to scan a QR-code from the other smartphone. In this case, it’s impossible to make a typo, so you may be sure that your Bitcoins will be correctly delivered.
# 6: Book of Addresses 📔 This is a separate screen with the list of frequently used addresses. It’s especially important for those who are going to use the Bitcoin app for business. Like the previous one, this feature isn’t a must-have for a digital wallet app (but expected by users). However, its development won’t take long and cost you much, so it’s better to add it to your app than not. # 7: Merchant Services 🛍️ If you really want to build a digital wallet app that will beat expectations of users, a list of retail services is what you should definitely add to your application.
Because without it, your app is just a pocket where users can store, buy, exchange but not use their Bitcoins. But with the built-in retail services users will have much more reasons to use your app on a daily basis. For this purpose, you have to develop a separate screen from which users can access online marketplaces, retailers and services (like Expedia, Dell, Amazon and others) that accept bitcoins. Interactive map with merchants who accept Bitcoin ( image by ) Another way to implement this feature is through the map. It can be used to browse located nearby offline stores and restaurants where users can pay with Bitcoins. However, we didn't manage to find a single stock of APIs of such places, so you may face the need to compile it manually by yourself. But if you find it - please send it us, too;) Actually, you can combine both approaches for the better result.
Bitcoin Api Key
# 8: Push Notifications 📳 When it comes to Bitcoin and money transactions, it’s important to always stay notified about what is happening in your pocket. And push notifications perfectly deal with it!
They keep users informed about new transactions, accepted payments and so on. Also, you can use push notifications to make users more engaged with your app. For example, send them a message if the Bitcoin exchange rate has significantly increased or decreased. Thus, they will be able to sell or buy currency with a maximum benefit. As you can see, everything is much simpler than it seemed! Bitcoin application development doesn’t include any complicated features that are difficult to implement.
However, what about the tech side of the development in general? That’s what we’re going to find out right now! Read Also 🛠️ Technical Side of the Project: How Difficult is it To Build Such an App? Luckily for you, tech side of the Bitcoin app development isn’t too complicated. There are a few public libraries that can be used to create transactions on your server, implement standard functionality and synchronize with the Blockchain. For example, and libraries are suitable for this purpose.
Also, pay attention to popular SDKs. They can make development much easier too.
For example, offers developers a full stack of APIs. Blockchain Wallet API is the one you need. It gives you the opportunity to implement the main functionality of the Bitcoin mobile app: creating a personal wallet, handling payments and transactions, address management and so on. SDK is implemented in Java, yet, it’s possible to use it with other JVM-compatible languages (for example, JavaScript, C or Ruby). This SDK provides Bitcoin developers not only with the standard set of tools for sending/receiving cryptocurrency and checking the current balance.
It may be also useful when you need to implement encryption. Another advantage is the SPV mode. It allows to download and work with only a part of blocks from the blockchain. Taking into account that the full blockchain size is already over 100GB (and it doubles every year), you can save a lot of space on your server. It’s also possible to use SDK on BackEnd to create a Bitcoin wallet app. Official libraries are available for Java, Python and other programming languages. The main advantage of Coinbase SDK is support of other digital currencies (Litecoin and Ethereum).
Using React Native Features Hours 1.Authorization Login/Password 35 2-Factor Authentication 30 2. Api Client 40 3. Bitcount Exchanging 50 4. Bitcoin Operations Transfering & Receiving 55 5. Transactions History 38 6. Bitcoin Exchange Rates Statistics 50 7. QR Codes 20 8.
Frequently Accessed Wallets 28 9. Push Notifications 25 10. List Of Merchants 80 11. Design 45 12. Platform Specific Tasks 40 Total Hours 560 Approximate costs 16,800$ Thus, cryptocurrency wallet development (its FrontEnd side) will take from 560 hours or from $16,800. 💡 Conclusion As you may notice, in this article we did not mention the BackEnd part.
Cryptocurrency apps have a complicated structure of server part, so each case requires an individual approach. As for the FrontEnd part, its’ development is no rocket science. However, if you need help with your Bitcoin wallet app development - you know where to find us (it’s the nice button below 😉).