What are the Must-Have Features that Every Crypto Wallet Should Have?

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Features today have become an eminent word in the tech industry. If any new gadget or service comes, its features get checked first by the users. In fact, the users are always interested in and have always looked up to attributes. Features are nothing but unique qualities about something.

Before we talk about the subject at hand, let’s understand what a cryptocurrency wallet is.

 

What are Crypto Wallets?

Crypto wallets are virtual wallets that are used to store cryptocurrencies safely. The digital assets kept in a crypto wallet can also be transferred and exchanged via the wallet.

Types of Crypto Wallets

There are two types of crypto wallets – Cold Wallets & Hot Wallets. Cold Wallets are offline, while Hot Wallets are online wallets. Now, there are many types of Hot & Cold wallets like:

  • Paper Wallet
  • Hardware Wallet
  • Software Wallet
  • Desktop Wallet
  • Web Wallet
  • Mobile Wallet

 

They were designed as per user needs & preferences.

 

How Do Crypto Wallets Work?

Crypto wallets have two keys – Public Key & Private Key. Public Key is public, and Private Key is private and is not supposed to be shared with anyone. Just like we have logins & passwords. You use them to access and use your wallet.

 

Must-Have Features of Cryptocurrency Wallets

With the growing technology, the consumer now demands & expects more advanced & high-end features in their wallets. From the security and comfort point of view – the features are designed in most cases.

Below are some of today’s must-have features of crypto wallets:

 

Multi-Coin Support

Multi-coin support is a feature that enables a crypto wallet to hold multiple cryptocurrencies. It means you can have more than one crypto token and digital assets like NFTs in your wallet all at once.

 

Facial Recognition

In today’s time, where technology is roaring and enhancing every day, nobody wants to remain outdated. In almost all phones, there is a Facial Recognition feature these days. So, why not in crypto wallets? Using this feature, users don’t need to enter the pin – the wallet app gets opened by looking at the camera.

 

QR Code Scanner

Use the app with ease with QR Code Scanner. It automatically reads the public address where the transaction is to be done. The feature uses the phone’s camera to scan the desired QR code. Once done, the transaction is now just a step away. It makes the entire transaction process fast & simple.

 

Keyless Feature

Keyless is one of the most advanced and newest cryptocurrency wallet app features in the crypto world. Generally, crypto wallets require two keys to let users access their respective accounts. But, this feature allows the users to access their wallets without using the keys.

 

Payment Gateways

This feature lets the app users buy & sell their virtual assets. Payment gateway integration is a must-have feature as it gives various options to send or receive money.

 

Blockchain-Based Transactions

This feature adds another layer of security & privacy to your crypto transactions and makes them fast. Every transaction then gets recorded on the blockchain network.

 

Automatic Conversion Rates

A fascinating feature for frequent crypto traders. It allows the users to automatically set the fluctuating rates. In the crypto market, the rates keep changing due to its volatile nature – the feature helps you manage your assets accordingly.

 

User Authorization

User authorization helps the user secure the wallet account. The security needs to be strong as crypto is worth more than any digital asset.

 

Top Multi Cryptocurrency Wallet App

We have talked about the must-have & best features of crypto wallets. It’s time to look at some existing apps offering these features.

Below are the best crypto wallet apps:

 

Coinbase

Coinbase is one of the most used crypto exchange and wallet apps worldwide. It is user-friendly, supports processes in over 500 crypto assets, and provides top-notch security.

 

Mycelium

Mycelium is one of the crypto exchange app market giants. It offers high-end features & security. Extra layers of security protect your keys from being stolen or compromised.

 

Exodus

Exodus was limited to desktops, but now it offers its app too for mobile platforms. It’s one of the best companies in crypto exchange segments and consists of great features.

 

Cryptocurrency Wallet Development Companies

Today, there are many cryptocurrency exchange software development company. But only a handful of them offers these many features like BR Softech. If you wish your crypto wallet app gets loaded with these must-have features, you can get in touch with such companies.

 

Afterthoughts

Crypto is growing and will keep going many years from now. The market is vast, the demand is high, and the trend is new. Almost all the crypto app development companies are flourishing. There is another breed of crypto wallet, i.e., the White Label cryptocurrency wallet.

White Label cryptocurrency wallet offers its owners complete control of their digital assets. Such technologies are coming every day, assuring the crypto wallet has a promising future.

Articles reflect the author's own opinion.

In any circumstances can CCG be responsible for potential losses regarding investments or services, either referenced by the author in the article itself or by any links provided.

This platform is intended to share educational knowledge, open for several external author's and in no way represents any financial advisement.

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