The demand for cryptocurrency is growing each day. After the release of Bitcoin, many other cryptocurrencies have been introduced into the market like Ethereum, Litecoin, and Dogecoin. With the growing demand for cryptocurrencies, the use of cryptocurrency wallets is increasing as well.
You will find many crypto wallets in the market to collect your rewards. Every crypto wallet has different features and has a different cost of development. Let us further discuss the cost of developing a cryptocurrency wallet app.
Meaning of cryptocurrency wallet
A crypto wallet is a kind of digital currency wallet that stores the public and private keys of the users to deal in transactions with cryptocurrencies such as Ethereum, Bitcoin, and Tether. To store the keys, the users have to download and install the wallet. They can manage all the cryptocurrency transactions and balances.
Important factors that affect the cost of development of a crypto wallet app
The cost of developing a crypto wallet app depends on different factors such as:
1. Size of the blockchain development company
Blockchain Development Company offers services in different team sizes such as small, medium, and large. The cost of development will vary according to the team size and level of experience and expertise.
2. Kind of blockchain app
The next factor to consider is the type of blockchain app. You must look at the needs of your business and select the kind of app that suits your needs. The cost of development of a crypto wallet app will differ in the case of cryptocurrency and non-cryptocurrency solutions.
3. Complexity of the app
You have to consider different things such as type of platform, UI/UX design, and technology stack to calculate the cost of development of a crypto wallet app. Besides, you have to also determine the various things such as issues faced and the resources that your app requires.
4. Size of the team
The next factor to consider is the size of the team. The cost of developing a cryptocurrency wallet app will increase with a large size of team. Besides, you have to also plan your budget for the project and consider a few things like an in-house team, freelancing services, or hiring an expert mobile app development company for your business needs. You must hire the best company to get the best-grade cryptocurrency wallet app.
5. Niche
There are different niches with different features and needs. The cost of developing a crypto wallet app will differ with the types of features, elements to add, and other things.
Final words
The cost of developing a cryptocurrency wallet app starts from $25000 and goes up to $60,000. If you want a more complex app for your business, the cost may start from $100,000 and go up to $200,000.
The cost of developing a crypto wallet app will vary according to the needs and budget of the users. You must hire an expert to develop a cryptocurrency wallet app for your business.